LeoVegas Has Q3 Under Control Despite Everything

Last updated on October 30th, 2022

LeoVegas Is Untouchable

It seems like nothing can stop LeoVegas from making a profit, despite having a rather turbulent past couple of months. And in the midst of several large-scale shifts in the market, LeoVegas still reports a 12% increase for a strong Q3. This amounts to revenue of a whopping $113.81m (€99.4m, £85.14m) until the 30th of September.

LeoVegas faced some of the biggest challenges in recent times. That is due to the fact that LeoVegas practically lost two major markets, i.e. sources of income. Specifically, the ‘re-shaping’ of the gambling regulations in both Germany and the Netherlands. The result of this drastic change is a list of big-brand names leaving the markets. These include PokerStars and Bitstarz among some of the most popular

Yet, not even that can deter LeoVegas from netting a hefty 12%, making a strong Q3 profit. And if we do not count Germany, the percentage amounts to a big 31% increase in revenue. The biggest impact on the revenue numbers is the high 7% increase in new depositing players. Consequently, amounting to nearly 470.000 new customers.

Moreover, LeoVegas notices great success in several countries and continents. This results in the Spain, Canada and Italy markets literally exploding between 40% and 70% in Q3. In addition, LeoVegas also re-purchased company shares worth $2.86m (€2.5m, £2.14m). With that, LeoVegas finished paying the second dividend ($4.46m, €3.9m, £3.34m) to their legacy shareholders.

Whatever the details, one thing is certain. LeoVegas is constantly growing and reaching new milestones. In fact, the operator even expanded their bonds by $22.95m, in addition to drastically improving gambling safety protocols and player assistance. This excellently complies with the strict nature of UK regulators. As such, it is no wonder that more and more UK players are choosing this operator.

LeoVegas intends to finish the year on a strong note. That is because this operator is already in the process of launching its services in the U.S. market. And it will also apply for a new license for the Dutch market, something that many believe this time will be a mere formality.