Customer & Product effective LeoVegas hits H1 2017 heights

The governance of Stockholm-listed European online gambling operator LeoVegas AB has stated that it is confident of hitting its 2017 full-year targets and corporate expectations following a strong H1 period driven by ‘solid organic growth’.

The mobile-centric gambling group would post H1 2017 (period ending 30 June) net-gaming revenues of €93 million representing a 55% increase on corresponding 2016’s €60 million.

Highlighting product KPIs, LeoVegas governance would note a marked improved performance of in customer retention which saw the number ‘returning depositing customers was 100,020 (2016: 66,917)’. The company further detailed that during the period it was able to implement new customer bonus strategies improving player values.

Backed by ongoing growth within its home market of Sweden, LeoVegas would declare an H1 2017 operating profit (EBIT) of SEK 11 million (€1.2 million), which sees the operator reverses its 2016’s losses of SEK 900,000.

Looking forward, LeoVegas governance has highlighted growth within the Danish online gambling market, in which it has launched its LeoVegas Sports betting product.

The operator is further confident of supporting its strong mobile dynamics, having launched its Android App on Google Play Store this month.

Updating investors, LeoVegas AB CEO Gustaf Hagman commented on H1 2017 corporate performance: “More than five years have now passed since we launched the mobile gaming company LeoVegas. The vision we laid out then is more relevant than ever before – that LeoVegas will lead the industry into the mobile future.

“LeoVegas has clearly taken the position as the most innovative and mobile-focused company – something we have gained attention for with countless accolades in industry publications and which can be seen in our figures of mobile gaming.”

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