LeoVegas hails mobile focus as revenue climbs in Q2

Gustaf Hagman, group chief executive and co-founder of LeoVegas, has paid tribute to the company’s ongoing focus on mobile gaming, after it reported a sharp rise in revenue in the second quarter.

Revenue for the three months to June 30 came in at €49.7m ($58.2m), up 60% on the €31m posted in the corresponding period last year.

EBITDA amounted to €6.1m, compared to a loss of €2.5m in the second quarter of 2016, with a heightened margin of 12.4%.

Operating profit also improved from a loss of €2.8m in Q2 of last year to a plus of €5.5m in the most recent quarter.

As a result, revenue for the six months to June 30 totalled €93.6m, an increase of 55% on the previous year.

“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. LeoVegas continues to be one of the fastest growing gaming companies and is growing considerably faster than the market as a whole. LeoVegas’ growth is proof that we are positioned right with our mobile focus.” Hagman said.