Leo Vegas Q2 Revenue Up 8 Percent; Gambling Operator Confirms Swiss Exit

Leo Vegas Q2 Revenue Up 8 Percent; Gambling Operator Confirms Swiss Exit

Online gambling operator Leo Vegas has posted a strong performance with its revenue jumping 8 percent year-on-year for the second quarter to June 30.

According to the figures released on Wednesday, the online gambling operator generated €94.4m in the second quarter and set a new quarterly record for itself. The company posted an earning of €15m for the same period.

Of the total revenue, Leo Vegas grossed 42 percent from operations in the Nordic markets representing a 2 percent year-on-year increase. The company grossed 47 percent of its revenue from the rest of the regulated European market. However, due to increased compliance expenditures, the revenue from the rest of the European markets grew by only 1 percent.

Leo Vegas revenues grew by 13 percent from its operations in the regulated online gambling markets outside Europe which accounts for nearly 11 percent of its overall revenue.

About 75 percent of the gambling operator’s Q2 revenue came from RNG casino products, and 17% from live casino. Sports betting grossed only 9 percent of the overall revenue share.

Leo Vegas has also announced that they would no longer be seeking a license to operate in the Swiss market. In the second quarter, the company managed to generate €2.2m in revenue from its Swiss customers.

Last month, Leo Vegas got approval to operate online casinos and sports betting in the regulated Spanish market.

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