LeoVegas Sets a €600 Million Target for 2020

Staff Writer Industry News, LeoVegas Casino 1,254

LeoVegas, world-recognised Stockholm-listed gambling group and king of online casinos, and its governance, have recently revealed the company’s enterprise vision for the year 2020.

The goal is to generate at least €600 million in group revenues, grouped with Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) and an additional €100 million.

Updating Investors and Stakeholders

The aim has been formed based on its transformative year, throughout which operator LeoVegas notably grew its ‘flagship organic brand’, while at the same time completing the acquisitions of Royal Panda, which earned €60 million, as well as of IPS Gaming, which profited with £65 million.

Gustaf Hagman, CEO of LeoVegas AB Gaming Group, has provided a commentary on the firm’s 2020 aspirations.

Hagman has declared that, based on the company’s acquisitions on record, it logically followed that they would draw up new financial aims. In the year of 2015 they set the target to achieve €300 million until 2018, which they have achieved, and what resulted in their gaining confidence to double up the future target. The EBITDA aim of €100 million is also part of the plan, Hagman has said.

“The new targets confirm our continued focus on strong growth combined with a sound view of profitability. The targets create transparency regarding where we are headed, both internally and externally,” CEO of LeoVegas has added.

Long-term Goals

Further explaining these ambitions, the representative of LeoVegas has explained that they plan on noticeably expanding the operator’s presence and services within the UK and German online gambling markets.

Moreover, ‘LeoVegas Futures’ division has been set up, and it is planned to scope the best innovation-led products and corporate M&A chances, which will enhance the company’s future growth strategy.

The following LeoVegas operational guidance is said to be expected: long-term organic growth that will ‘outperform the online gaming market’, long-term EBITDA margin that will not go under 15% (providing that 100% of total revenue will be generated in regulated markets) and paying a dividend of at least 50% of profit after tax.

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