$105m in Revenue for LeoVegas
by Glenn Baird - November 5, 2020
LeoVegas has reported $105m worth of revenue for the 3rd quarter of 2020, an increase of 1% for the same period last year.
The online casino also reported that they have seen a significant increase in the number of sign-ups compared to the same period last year, from 347,464 to 438,691, an increase of 26%.
Revenue for October is estimated at €33.0m, a in increase of 27%. However, it has also been reported that changes introduced to the German market in the middle of the month “have had a slightly negative impact on revenue.”
The company also reported that operations in their home country of Sweden were affected by regulations that have been brought in to negotiate the current global pandemic, but that new ventures in neighbouring Finland had impacted positively.
During the quarter LeoVegas also developed their own bingo brand and increased its ownership in the esports betting operator Pixel.bet from 51% to 85%.
Gustaf Hagman, Group CEO reported in a company statement that the figures had raised optimism and that the growing customer base had again “again reached a new record level” during the third quarter.
According to the CEO, Leovegas’ estimated yearly net savings should amount to roughly €1.5m starting with next year. “With a positive start to the fourth quarter, a record-large customer base and many exciting initiatives I am looking forward to a strong end to the full year.”
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