LeoVegas’ revenue grew by 1.9% year-on-year to €98.5m [US$104m] in Q1 of 2022, as the operator’s board outlined its reasons to support an acquisition offer from MGM Resorts. The operator noted that, in local currency terms, revenue was level year-on-year, however.

The operator’s decision to withdraw from the Dutch market when it opened on 1 October continued to have a major impact on revenue. With the Netherlands excluded, revenue would have been up 9% year-on-year.

Elsewhere, LeoVegas noted that the business was especially successful in Sweden, where a SEK5,000 deposit cap for online casino was repealed during the quarter.

“Sweden had another good quarter and generated a new record level of revenues for the period,” LeoVegas said.