Skip to main content

3 Actions LeoVegas Took That Could Lead to Successful 2018

Following a successful second quarter, LeoVegas looked to improve even further. The online casino game company has performed strategic actions to make the Swedish brand more successful.

According to the company’s financial report for Q2 2018, LeoVegas has earned €87.4 million in revenue from April 1 to June 30, 2018, €37.7 million higher than the same quarter last year. In addition, the revenue in Q2 was the highest ever recorded by the company since its launch.

The Swedish company added that the Q2 growth year-over-year was at 76 percent. Meanwhile, the organic growth and underlying organic growth stood at 27 percent and 36 percent, respectively.

With the goal of reaching €600 million in revenue on 2020, LeoVegas has followed up Q2 with a third quarter filled with moves and acquisitions it believed would help the company achieve its dream into reality years later.

Applying for Licenses in European Markets

Late August 2018, reports surfaced that LeoVegas requested permission to offer gambling products in two European countries. Already licensed by the regulatory bodies in Malta and the United Kingdom, LeoVegas sought for two new gambling licenses in Spain and Sweden.

According to LeoVegas’ Philip Doftvik, the company aimed to expand its reach to regulated gambling markets like Spain, as well as to those that will be regulated in the future, including Sweden.

Doftvik explained that, for LeoVegas, the Spanish gambling market “is particularly interesting.”

Meanwhile, the company considered Sweden as a core market, with 24 percent of the gaming revenue during Q2 coming from the country. Not only that, but LeoVegas’ headquarters can also be located in the Swedish capital of Stockholm.


Integrating an Electronic ID System for Swedish Players

Also this August, LeoVegas has started offering BankID services to its Swedish customers.

BankID is an electronic identification solution in Sweden that permits companies, financial institutions, and government agencies to verify the identity of a user online, as well as to close agreements over the internet.

According to the announcement, LeoVegas integrated the electronic system to speed up the login and registration process of bettors. Furthermore, BankID would make it easier for most players to prove their identities before cashing out. In addition, BankID would allow users to view the status of their in-bank account balance shortly after withdrawing funds.

Investing in Esports Betting

Just recently, LeoVegas announced that it has also tapped into the esports betting scene by acquiring mobile-first online sportsbook

Through the investment company LeoVentures, LeoVegas has purchased 51 percent of the shares in Pixel Holding Group, the company running the esports bookie. The announcement revealed that the investment LeoVegas made for a controlling stake in Pixel Holdings cost up to €1.5 million.

Gustaf Hagman, LeoVegas CEO, said that this investment would provide the Swedish company insight into the emerging esports sector. He added that the mobile-first website would be a perfect fit for LeoVegas, also a mobile gaming group.




Wazdan Teases 7 New Slots Complete with All Unique Wazdan Features

February 21, 2019

Space Gem and Magic Stars 5 are two of the seven newest online slots produced by Wazdan, complete with the competitive and engaging Unique Wazdan Features. Players Happier with Litecoin Now as Payment Option

February 20, 2019 has added Litecoin, following high demand from players to have the silver to Bitcoin's gold supported by the newly improved crypto casino.

EOSBet Welcomes BTC Deposits, Cashouts & Bets

February 15, 2019

EOSBet Casino launches Bitcoin betting in beta, making EOSBet the first EOS dApp to natively accept BTC. Players will get 10 BET for every 1 BTC wagered.


10 Online Slots That Will Make You Rock On

February 11, 2019

Can’t get enough of your favorite rock music? These 10 rock-themed online slots will give you the satisfaction you need with better wins and gaming.

10 Best Online Gaming Hubs That Accept Your EOS Tokens

January 22, 2019

Here are 10 online casinos where you can play rounds of poker, blackjack, baccarat, dice, crash, or online slot games using your EOS tokens.

10 Cutest Penguin Slots That Will Leave Your Heart and Wallet Happy

January 18, 2019

Love adorable penguins? Like playing in online casinos? Then check out these 10 penguin-themed online slot games and enjoy the best of both worlds.

No account yet? Register here
Already have an account? Login