LeoVegas Posts Third Quarter Financial Results

This story was published more than 2 years ago.

Internet gaming group LeoVegas has released their third quarter 2017 financial results while also breaking the news that it's come to an agreement to buy Royal Panda.

Key financial indicators for the quarter ending September 30th, 2017 were:

  • Revenue up 40% to €55.6 million
  • Deposits up 56% to €193.1 million, with active players up 30% to 202,980
  • EBITDA of €7.6 million, down from €9.8 million last year
  • Operating profits down from €9.4 million to €6.9 million
  • Earnings per share of €0.06

The company also revealed that they're purchasing Royal Panda for €60 million, with a further €60 million possible if certain conditions are met. The purchase is expected to be completed by the end of December.

Speaking about the deal LeoVegas CEO Gustaf Hagman said, "After the end of the quarter we carried out a strategic acquisition. During the past two years we have combed the gaming market in search of companies that fit in with our overall expansion strategy, which is to grow in regulated markets and markets that will soon become regulated. We made our first acquisition earlier this year, of Winga in the Italian market. We are now taking the next step with our acquisition of Royal Panda, which is a great fit with our strategy to establish a strong presence in the UK - plus they have a great brand!"

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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sharpe's picture
Location: Sofia, Bulgaria
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25 October 2017 - 5:58pm
#1

So obviously they doing great, just wonder how come the Revenue is up by 40% but the operating profits down, maybe that has something to do with the acquisition of Royal Panda or I'm just a stupido.

lvblck
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27 October 2017 - 12:18pm
#2

They are doing really great there's no doubt about that. The numbers really speak for themselves and I think that they have a great future ahead as one of the industry leaders.