Focusing on its mobile-first strategy, the governance of Stockholm Nasdaq-listed Leo Vegas Group (LeoVegas) has stated that it is the industry’s fastest growing ‘organic operator’.
Closing its first full year as a Stockholm Nasdaq enterprise, LeoVegas would declare corporate revenues of €141 million up 70% on corresponding FY 2015 €83 million. LeoVegas governance would attribute circa €60 million in revenues generated entirely from organic (home-based) products.
Further top-line metrics posted by the operator, would see a corporate EBITDA jump tenfold to €21.3 million (FY 2015: €1.8 million) as LeoVegas assets delivered a significant increase in active player numbers.
Closing its full-year 2016 performance, LeoVegas governance expects to declare corporate profits of €19 million, making the company into one of the best new listed enterprises on the Nordic Nasdaq.
“With a record year characterised by strong organic growth, innovation and high profitability in the fourth quarter, LeoVegas has taken yet another solid step toward our financial targets” – Gustaf Hagman, Leo Vegas Group CEO and Co-Founder commented on FY 2016 performance.
“LeoVegas continues to develop according to our vision: to create the ultimate gaming experience and be number one in mobile gaming.With a strong cash position of over €55 million, LeoVegas is poised to capitalise on the great opportunities in the industry.”
Entering 2017, LeoVegas governance will push to amplify the operators market offering pushing its new sports betting product, aswell as continue its mobile-first strategy within new and established markets.