LeoVegas has reported all-time high revenue of €98.3m for Q4 2020 following a 13% annual increase. Overall revenue for the 12 months through to 31 December reached €387.5m, up 8.9% from the previous year.
Looking to the operator’s record fourth quarter, revenue for the three months to 31 December was €98.4m, some 13.0% higher than €87.1m in Q4 of 2019.
Breaking down its performance, LeoVegas said 75% of gross gaming revenue in Q4 was derived from classic casino games, including slots, while 16% came from live casino and the remaining 9% sports betting.
In terms of geographical performance, the Nordics accounted for 36% of revenue in Q4, behind the rest of Europe on 47%, where revenue share was up 28% year-on-year. The other 17% of revenue was generated in markets elsewhere in the world.
New depositing customers during the quarter were up by 15.0% year-on-year to 181,592, while returning depositing customers reached a record 280,391 in Q4, up 31.0% on 2019.
LeoVegas paid €534,000 in tax during Q4, which meant it ended the three-month period was a loss of €1.9m, compared to €3.0m at the same point in 2019.
However, despite the Q4 loss, president and chief executive Gustaf Hagman was positive about the performance, declaring it’s the strongest-ever Q4 in the operator’s history.
“LeoVegas concluded the record year 2020 with its strongest fourth quarter ever, and we did this despite frequent changes to the gaming requirements in our markets in addition to finding ourselves in the midst of a global pandemic,” Hagman said.
“I am proud of our ability to quickly adapt to changed conditions through a high capacity for innovation at the same time as we are building an increasingly solid and diversified business. On the tailwinds of a strong 2020 we are now looking forward to a year with many exciting growth initiatives and an even stronger customer offering,” he concluded.
Source: GMB / iGB
