As we always say here at Heads&Heads, bookmakers doing well for themselves is never a bad thing. This is certainly true when it comes to LeoVegas, who have just posted their highest annual revenue to date, €39.7 million. This represents a very impressive 76% year-on-year increase.
Industry commentators have put this down to, rather bafflingly, organic growth. However, this seems far too simplistic and, if true, would leave every other company in the world wondering way they have not experienced this type of ‘organic growth’. With deposits from customers reaching €39.7 million, an annual increase of 87% compared to 23% growth in the second quarter, we are more inclined to agree with the comments of LeoVegas’s CEO.
“The launches of LeoVegas Sport and LeoVegas Live Casino have laid the foundation for strong growth in new customers and gave us considerable momentum into the autumn and third quarter.”
Heads&Heads believes that it is the launch of LeoVegas Sports that has caused the greatest impact. However, the increase in customer deposits could best be explained by the huge Casino deposit bonuses being promoted by LeoVegas. Heads&Heads premium members will, of course, be well aware of these offers.
This is fantastic news all round and may convince bookmakers that having offers which appeal to both gamblers and matched bettors is no bad thing at all. In fact, the results can be extremely profitable. We are of course hypothesising here; however, it does appear to be a growing trend, that the bookmakers who provide the most lucrative offers, tend to be the ones whose revenue increases by the greatest margin.
LeoVegas has also recently announced that their aim is to hit €300m in revenue by 2018. Hopefully, this means we will be seeing a lot more offers come out of LeoVegas, particularly LeoVegas Sport.