LeoVegas reports record revenue
Swedish online casino operator LeoVegas has reported its first half of 2020. According to the financial report, the company's revenue for the two quarters was 200.2 million euros, which is 10.8% higher than the same period last year.
Excluding minor expenses and 1.1 million euros of tax, the operator's profit for six months amounted to 17.2 million euros. This is up 132.4% from the first half of 2019.
“I am very pleased with how LeoVegas is handling the tense COVID-19 situation. During this challenging time, we have been able to run our business without any noticeable disruption,” said LeoVegas CEO Gustav Hagman.
“Our industry is undergoing a major shift from offline to online. Thanks to effective management, cooperation with respected brands and our own technical platform, we occupy a strong position in an increasingly digital world,” he continued.
Note that land-based gambling establishments, in turn, are experiencing serious financial difficulties. Thus, the new company Caesars Entertainment Inc., formed as a result of the merger of Eldorado Resorts and Caesars Entertainment, announced a loss of over a billion dollars for the first half of 2020.