LeoVegas is expanding rapidly - Be a part of it!Wednesday, May 10, 2017 09:23
On the 25th January 2017, LeoVegas celebrated its fifth anniversary. The brand did so in style at its Malta premises. The company stated that their vision of creating the ultimate gaming experience has become reality. To reward its players for their part in the success, LeoVegas surprised its players with a gift on the day. Three months on, LeoVegas has further reason to celebrate.
In its interim report for quarter 1 of 2017 revenue amounted to a staggering €43.9 million. That is up some 49% on the €29.5 million LeoVegas generated in the same period the year before.
LeoVegas cited its successful launch in Denmark as one of the reasons for this increase. Given that Denmark alone generated 3% of the overall revenue in Q1, the launch is hailed a success. “The tremendous launch in Denmark shows the strength in LeoVegas when we deliver at our best: a combination of technological and product excellence combined with effective marketing that we quickly scale,” commented LeoVegas CEO Gustaf Hagman.
Yet, this does not suffice to fully explain LeoVeagas's impressive development. Throughout its 5 years in the gaming business, LeoVegas has made mobile its priority. The brand focussed its efforts on providing players both with an app and mobile-friendly website. This effort has paid off: LeoVegas reported that mobile deposits accounted for 67% of all deposits. Last year that figure stood at 61%.
While this is impressive, one growth figure stands out: 42%. The number of depositing customer has seen a 42% year-on-year increase. Today, some 172,338 users of LeoVegas are depositing customers.
LeoVegas has the perfect strategy for boosting its business
To turn users into paying users, LeoVegas provides some of the best promotions in the industry. Its Welcome Bonus currently stands at £1500 bonus and an additional 120 free spins. For live casino fans, LeoVegas provides a 100% first deposit bonus and sports betting enthusiast are granted two x 100% profit boosts. Tailoring its promotions to individual preferences is one of LeoVegas many strengths that has given the company an excellent reputation.
The road ahead looks promising
LeoVegas's strong reputation has allowed the company to present itself well to investors at the stock market, both in Sweden and abroad. Interest in the LeoVegas stock has grown and has allowed the company to further expand its operations.
In 2016 and 2017, the company did not only launch new markets for its 'home brand' LeoVegas but also invested in the acquisition of other companies. One of its biggest acquisition to date has been buying Winga.it for €6.1 million. This deal was a clever move. Buying Winga.it gave LeoVegas direct access to the Italian market that has been growing at a rapid rate in recent years. The local knowledge that Winga.it posses will also profit its LeoVegas brand and could come in handy for any other deals the company may make in the coming months.
“We continue to actively evaluate acquisition opportunities, and with a cash position of more than €60 million, we have resources to carry out additional strategic acquisitions going forward," stated Hagman enthusiastically.