..

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

USA Today Drops Bovada Odds in Favor of US State Licensed Tipico Sportsbook

USA Today Drops Bovada Odds in Favor of US State Licensed Tipico Sportsbook

Gannett, owner of the USA Today newspaper, has inked an exclusive deal with New Jersey-licensed Tipico Sportsbook.  And one popular offshore sportsbook will be getting the heave-ho as a result.

Here's How Rodgers' Return Impacted Packers Odds

Here's How Rodgers' Return Impacted Packers Odds

Aaron Rodgers reported to Packers training camp this week and the oddsmakers took notice.

NFL Training Camp News -2021

NFL Training Camp News -2021

One of the most unusual offseasons in recent memory is ending for Texans quarterback Deshaun Watson, but the season ahead remains unclear.

MLB Trade Deadline Tracker - 2021

MLB Trade Deadline Tracker - 2021

With Major League Baseball’s July 30 trade deadline just a few days away, the big deals are beginning to drop, and the contending teams are making the moves that they hope will fuel a postseason run. 

MLB Betting Picks Tuesday, July 27 – New York Yankees at Tampa Bay Rays

MLB Betting Picks Tuesday, July 27 – New York Yankees at Tampa Bay Rays

How can a team located in a town with few fans and less revenue consistently outperform the most historic brand in professional sports and a team with the largest payroll in its league?  That’s the never-ending question of the Tampa Bay Rays and their superiority over the New York Yankees.  Tampa Bay plays in a dump of a dome that was outdated before they moved into it over two decades ago.  There is zero fan interest and support of the Rays, and they make no money. 

Syndicate