LeoVegas iGaming News – Q4 2022 financials, new Serie A deal & offloaded shares!

The latest LeoVegas iGaming news – sponsorship deal with Inter Milan boosts exposure, 2 industry awards & positive financials from last year. (Photo by Marcos Nieto on Unsplash)

What a start to the year for LeoVegas, which is officially and firmly under the umbrella of MGM Resorts International.

This doesn’t seem to have affected the brand’s business-as-usual approach to iGaming as we are 2 industry awards ceremonies into the year, and LeoVegas has 2 accolades to its name already!

Adding to this, the official Manchester City partner has also made headway with another top European club – Inter Milan.

More on those topics later, and on to the main LeoVegas news circulating on the online gambling grapevine.

If you have read out iGaming stock report, you may have wondered where the LeoVegas stocks have gone. The company has now delisted its stocks after MGM Casino Next Lion, LLC took over a 96% sound majority of the operator’s stocks. At the top of the business chain pulling all the strings is MGM Resorts International.

Despite the stocks coming off the market, LeoVegas AB still produced Q4 2022 financials, which are already in circulation across the iGaming newswires. However, as this is a major online casino covering both the UKGC and MGA markets, I thought that maybe a sneak peek at its financials would pique your interest.

Why Boring Financials? Considering we have already released 888 Holding’s Q4 financials, it makes for a great comparison. Plus, you also get to read more about the Inter Milan partnership agreement and industry award wins right after!

LeoVegas AB Releases its Q4 2022 Financials – Shares in BetPlay Sold

The report covers the 4th quarter of 2022, from October 1st to December 31st. Revenue increased to EUR 99.5 million, with organic growth of 6% in local currencies. This amounted to a total of a 1% revenue increase for this time period.

EBITDA and EBIT were affected by transaction-related costs, provisions for incentive programs, and revenue related to a customer database sale. LeoVegas has concluded repurchase offers, and also entered into a four-year research project with the Karolinska Institute to improve problem gambling identification and prevention methods.

LeoVegas has also sold its 25% shares of BeyondPlay through LeoVentures for a total consideration of 1.9 million EUR.

For more information, you can see the full LeoVegas financial reports and presentations here.

Recent Deal with Inter Milan to Boost International Visibility

Getting around bans on sponsorship for some gambling companies means being inventive. LeoVegas has done just that. Earlier this month the company announced a sponsorship deal with Inter Milan a.k.a. FC Internazionale Milano. The deal is for the 2024/2025 season.

The deal means that the LeoVegas.news’ logo will now feature on several of the Italian Serie A club’s sportswear. This includes both the men’s and women’s warm-up as well as training shirts. With the men’s team featuring in heavily crowded stadiums for Serie A games, Copa Italia, and the Champions League, LeoVegas has struck gold with this deal. Even more so when the team comes up against Premier League sides in European competitions.

For starters, millions of Brits will briefly be exposed to the logo when they tune in early to watch the pre-match build-up. Meanwhile, the Copa Italia finals are huge for sports betting fans across the globe! On top of this, the official LeoVegas report states that its logo will also feature at Inter’s Suning Training Centre. As a result, there are 508 million fans that will potentially see the logo.

LeoVegas Casino and Sportsbook also operate in Italy. The company has been licensed by the Italian gambling regulatory body, Agenzia delle dogane e dei Monopoli (ADM), and is legally authorized to offer online gaming services to Italian players. This means more exposure in the country too!

The initial Inter deal began in September 2022. On top of this, LeoVegas is also partners with Premier League club Manchester City.

A Great Start to 2023 Netting Industry Awards

Already LeoVegas has had a great start to the year winning two major industry recognitions. Both events were on the same day in London’s West End, and LeoVegas was triumphant in each.

• Global Gaming Awards (GGA) 2023: The casino/operator has won the ‘Casino of the Year’ award at the Global Gaming Awards for the sixth year running. This follows the same accolade presented to the brand in 2018, 2019, 2020, 2021, and 2022. The trophy will go alongside the company’s Casino Operator of the Year wins at the SBC Awards in 2019 and 2000.

• International Gaming Awards (IGA) 2023: The second award of the year, or maybe even the first, as the IGA was on at the same time as the GGA. In 2021 LeoVegas also won the ‘Mobile Casino Product’ award at the EGR Operators 2021 event.

More iGaming award news coming soon: According to our iGaming calendar, we are due to release the results of the EKG Slot Awards, which is about to begin in Las Vegas this evening. Hopefully, I will bring the full details tomorrow or in Saturday’s news.