Online casino operator LeoVegas published a financial report for the first quarter of the current financial year. According to LeoVegas, the revenue rose by 12% in comparison to the previous year’s first quarter.
The report suggests LeoVegas started the year in a good style, despite the setbacks which the regulatory reformations have induced in the UK.
The previous year saw LeoVegas, as one of the leading European operators, initiating a series of agreement deals and projects with the aim to strengthen its position at the top of the market.
The CEO of the company, Gustav Hagman, explained that these deals and projects were the catalystsfor such impressive progress. He added that the growth that the operator experienced was indeed slightly slowed down by the introduction of new regulations in the UK in 2018, but they still managed to pull through and achieve outstanding results.
According to the report, the numbers of players in the database is also on the rise. Compared to the previous year, 23% more new players were noticed in this quarter, while the number of recurring players rose 26%.
The increase in the customer base is the result of several successful business decisions. The launch of the new brand GoGoCasino in March, as well as the opening of the newly regulated Swedish market, was of great help to LeoVegas. There was a revenue drop in Sweden immediately after the opening, but ever since then, the numbers have been constantly on the rise.
The biggest challenge for LeoVegas is the UK market.
Most of the operators currently working in this market are facing various setbacks as well, but officials from LeoVegas say that the numbers are rising steadily and that they are hopeful things will go back to normal in the near future.
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