LeoVegas AB has published its latest results from the Nasdaq stock exchange after integration into MGM Resorts portfolio, reporting positive trading in Europe although some international markets proved difficult.

Total group-wide revenue over the three-month period rose 1% to €99.5m [$106m] (Q4 2021: €98.2m), although various business costs meant that adjusted EBITDA fell by 77% to €3.7m (€11.6m), with a margin of 3.8% (11.8%).

The firm explained that ‘transaction-related cost and provisions for incentive programmes’’ were largely responsible for the sharp drop in EBITDA, totaling €1.6m, whilst items affecting yearly comparability included a €500,000 sale of a customer database.

These costs meant that LeoVegas reported an EBIT loss of€2.5m (€6.1m), whilst adjusted EBIT stood at a negative €0.2m, down from €8.5m the prior year, with an EBIT margin of -0.2%.