The online casino operator LeoVegas AB has just recently been added to the Nasdaq listing and decided to conclude the agreement to purchase World of Sportsbetting Ltd from Malta for €2.6 Million.
The German Market Is Conquered
World of Sportsbetting Ltd except operating in Malta, have a license to operate in Schleswig-Holstein state and also applied for a license to operate freely in Hesse. Both licenses are approved by the German Interstate Treaty on Gambling.
These two licenses have initially opened the German market for LeoVegas and we can freely say that LeoVegas does not waste their time do exploit the newly acquired market. If no action is taken, plans are made definitely to do so.
Gustaf Hagman, the CEO of LeoVegas had a comment regarding their expansion on the German betting market: "The licenses give increased credibility when we collaborate with, for example, media partners, which is important in order to get the full effect on our market investments. Our new ambassadors also increase the local touch in our marketing, which we know creates loyalty and increased brand awareness.
“We can now also be even more local on the product side and, especially, add important payment solutions that are important for the German market. This is line with our strategy to enter regulated markets and gives LeoVegas the best possible conditions to accelerate further in the German market."
LeoVegas announced that the fourth and last quarter of 2017 is their best period ever with the following indicators:
- 65% increase in revenue, or 67.8 million
- 29% revenue from regulated betting markets
- 69% of mobile deposits
- An increase of 44% in depositing customers
- An increase of 50% in new depositing customers
- An increase of 37% in returning depositing customers
- EBITDA was Euro 6.1 million
- Earnings per share were Euro 0.02
- Dividend of SEK 1.20 per share, for a total of SEK 119,634,564 (Euro 12.2 million)
To all this, Gustaf wanted to add: “Q4 2017 was one of our best quarters ever, with very strong underlying growth. Compared with Q4 2016 and excluding markets that we closed in 2017, our organic growth was an incredible 82% during the quarter. We even set a record for new depositing customers.”
“With several great acquisitions, awards, our change in listing and a strong start to the first quarter, all of us at LeoVegas are looking forward to an exciting 2018.”