..

LeoVegas Exceeds 2018 Q2 Expectations

Written by:
Guest
Published on:
Jul/20/2018

LeoVegas, the number one ranked online casino group for its live dealer offerings, has exceeded second quarter expectations for 2018.

The Stockholm-listed betting firm reported approximately EUR 15 million (approximately 17% EBITDA margin), which is higher than the company's internal expectations.

Revenue for the second quarter amounts to approximately EUR 87 million.

This all equates to great news for LeoVegas.

The company issued the following notice:

"Our data-driven marketing model works so that we only invest if we see good enough returns in our marketing channels. During the World Cup there are many gaming companies that are advertising, which means that the effectiveness of marketing and the value of customers can be more uncertain. Our models have indicated that we should not advertise in some channels due to the low return, which in turn led to a significantly higher EBITDA than expected. We continue to act in line with achieving our financial targets, which is to reach EUR at least 600m in revenue and EUR 100m in EBITDA results in 2020, " comments Gustaf Hagman, CEO of LeoVegas Mobile Gaming Group.

In the quarterly report for the first quarter is was communicated that: "Marketing in relation to revenue for the Group in the second quarter of 2018 will be higher than the average for 2017, which was 42.3%. Due to the marketing opportunities surrounding the World Cup, the total amount of marketing is more difficult than usual to anticipate in advance. LeoVegas will act opportunistically with marketing on the opportunities we see."

The company also reported that marketing costs in relation to revenue are approximately 35%.

- Aaron Goldstein, Gambling911.com

Gambling News

Gambling911 Welcomes Wager6

Gambling911 Welcomes Wager6

Claim your exclusive 200% welcome bonus - For Gambling911 readers ONLY!!!

Survey Shows America Does Not Want the Astros as World Champs

Survey Shows America Does Not Want the Astros as World Champs

It’s clear that America hasn’t forgiven the Astros for their cheating transgressions two years ago.

You Can Bet on Aaron Rodgers Halloween Costume

You Can Bet on Aaron Rodgers Halloween Costume

Rodgers revealed that the growing of his hair "has been a year in the making” for his Halloween costume.

DraftKings Scraps Entain Bid: Stock Surges

DraftKings Scraps Entain Bid: Stock Price Surges

DraftKings stock shot up 8% Tuesday on the news.  The deal was said to have been worth upwards of $22.4 billion.

Regulators Begin Expressing Concerns Over Deluge of Sports Betting Advertisements

Regulators Begin Expressing Concerns Over Deluge of Sports Betting Advertisements

US regulated sports betting firms face the prospect of having their ads regulated following a series of complaints.  Will the USA go the way of the United Kingdom and Spain when it comes to putting the kibosh on these ad spots?

Syndicate