Levegas' profit doubles in 2022

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Leovegas is one of the dealers who has managed to grow more over time. This is also demonstrated by the data relating to the profit of Levegas, in which the truly formidable growth is evident in the course of a single year. In the fourth quarter of 2022, for example, His positive trend led him to a record turnover of 98.3 million euros with an increase of 13% compared to the previous yearnull In 2019, in fact, Levegas's turnover had been "only" 87.1 million euros.

Levegas Record's profit in 2022

As mentioned, Leovegas managed to double his net collection in just one year, thanks to various records recorded during the various quarters, among which the third and fourth in particular must be rememberednull At the end of the year, in fact, after subtracting the usual costs of activity, The final profit was 21.5 million euros, to which, however, it is also necessary to remove the taxesnull This has already been a first and important signal, given that gross of contributions, the Lovegas turnover is already over double compared to the previous year, in which Levegas had closed with 10.3 million euros.

After paying 2.2 million euros of income tax and, after the impact of the gearbox, He closed the year with 19.3 million euros in profit, up 103.2% compared to 2019null A truly extraordinary result, which once again testifies to the growth of this relatively young brand in the Gambling market.

Short story of Leovegas

Levegas was born in 2011 in Sweden from the idea of Gustaf Hagman and Robin Ramm-Ericson. Its growth in the sector has been constant and continues thanks also to several financial operations. Among these, for example, We find the purchase for about 6 million euros of Winga Srl, a dealer that has allowed Leovegas to also enter the American gambling market and to obtain the license of thewhonull Similar operations also to quickly enter the American and English market.

From 2017, then it has also become a company listed in the Stockholm Stock Exchange.

The satisfaction of the CEO Gustaf Hagman on Levegas's turnover

Here are the words of Gustaf Hagman, CEO of the Swedish dealer, on Levegas' profit: "Levegas concluded the 2022 record year with its fourth stronger quarter ever, and we did it despite the frequent changes to the game requirements in our markets, in addition to finding ourselves in the middle of a global pandemic", Said Hagman who then continues:"It is a demonstration of strength that Levegas has created an ABITDA growth (i.e. profits before interest and taxes) 25% rectified for the entire year while the operating cash flow increased by almost 90%. This was achieved despite the maintenance of a high investment rhythm with the launch of new brands, new markets and products improvements”.

Then, of course, the gaze is aimed at the new year: ""I am proud of our ability to quickly adapt to changed conditions through a high ability of innovation and at the same time we are building an increasingly solid and diversified activity. In the wake of a strong 2022, now we can't wait for a year to arrive with many exciting growth initiatives and an even stronger offer for customers". The idea, therefore, is to continue on this path and grow even more.

Leovegas in USA

At the moment, despite his great growth globally and the profit of Levegas, in USA the site is not yet at the levels of the other dealers. Just see that in December has conquered only 1.78% of the GGR, Gross Gaming Revenue, or the amount of money played on casino and online slot machinesnull The data then highlights another point, or a slightly decrease trend compared to the previous months. In October and November, in fact, its percentage had passed the 2null Of course, to analyze these data at best, it must also be considered that Leovegas, as seen before, arrived only in 2017 in USA, thanks to the acquisition of Winga and therefore it is still necessary to give him some time to see the results.

The data in detail

Since in USA he has conquered a small part of the players in the last year, but definitely not so many as to justify an important increase in his turnover, we try to understand where the doubling in twelve months derives from. Obviously, being a dealer born in Sweden, he is definitely affirmed in the Nordic countries, and it is precisely from here that the greatest growth comesnull The countries of northern Europe only (Sweden, Norway, Iceland and Finland) represented 36% of revenues in the fourth quarter. In the remaining part of Europe, then Leovegas obtained 47% of the income, growing the annual GGR of 28%null Finally, the remaining 17% of revenues was generated in the markets of other parts of the world.

What they play on Levegas

Another important starting point of reflection is analyzing the data relating to favorite games from those who use this site to aim. Obviously to get the better, Just as often happens for other dealers in USA, they are casino games like Blackjack, roulette and Baccarat together with the slot machinesnull These, in fact, conquered 75% of the Gross Lovegas turnover in the fourth quarter. The second sector, however, is that of games with live Croupier, very famous also in USA and that are quickly attracting more and more players. These streaming tables, in fact, reached 16% of gross revenuenull Only 9%, instead for sports betting but this must not be surprised since we are talking about a very recent platform and born to be a point of reference for casino games.


Leovegas can also be happy with another important aspect, namely that in the last year, he managed to increase the number of new players by 15%null Speaking of the fourth quarter, however, the number of players who decide to return to this platform after the first episode went up to 31%, Therefore, the site and the variety of games convinces players who are happy to go back to us without any problems.

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