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LeoVegas in €10m Share Repurchase

by Glenn Baird - November 17, 2020

Online casino, LeoVegas has made the call to repurchase €10m worth of shares in a bid to try and develop the value of shares for existing shareholders.

It is a move that was given green light back in May this year and the operator’s Annual General Meeting.

The board of directors at LeoVegas agreed back in May to allow up to 10% of company shares to be repurchased up until the next AGM in 2021.

For the third quarter of 2020 revenue for LeoVegas was up 1% from the previous year to €88.9m. There was an increase of deposits being made of 26%.

Despite these apparent gains and successful launch of GoGoCasino and in Finland, LeoVegas has criticised Swedish authorities for the Covid related restrictions that they believe have impeded further growth.

Gustaf Hagman, president and CEO of LeoVegas, said “Once again, we have shown our ability to quickly adapt to new, external circumstances, such as those related to the continuing pandemic and the constant regulatory changes in our various markets.

“During the third quarter we maintained a high pace of innovation and investment, which is strengthening our long-term position and growth prospects.”

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The United Kingdom of Great Britain and Northern Ireland sits to the north-west of mainland Europe. The United Kingdom shares a border with The Republic of Ireland and has coasts on the Atlantic Ocean, Celtic Sea, North Sea, Irish Sea and English Channel. The population of the UK is approaching the 67.6 million mark leading to a fairly densely populated land mass. The gambling sector in the United Kingdom is entirely regulated and licensed by the UKGC – the United Kingdom Gambling Commission. Should players resident In the UK wish to gamble with foreign based operators there is no history of this being treated as a criminal offence, but high levels of protection exist for UK residents playing with UK licensed operators.


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