LeoVegas sees profit double in 2020 after record Q4
11th February 2021
| By Robert Fletcher
LeoVegas reported a 103.2% year-on-year rise in comprehensive profit in 2020 after its strongest-ever fourth-quarter performance helped it post record results for the year.
Overall revenue for the 12 months through to 31 December stood at €387.5m (£340.0m/$469.8m), up 8.9% from €356.0m in the previous year.
Cost of sales in the operator’s financial year reached €67.9m and gaming duties €57.3m, which left a gross profit of €262.3m for the year, an increase of 10.6% on 2019.
Operating expenses for the year reached €210.5m, with marketing expenses the main outgoing for LeoVegas, after the operator spent €132.6m during the year. This left LeoVegas with €51.9m in earnings before interest, tax, depreciation and amortisation (EBITDA), up 4.9% year-on-year.
LeoVegas AB Q4: Year-end report 2020
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