Revenue dips in Q1 at MGM’s LeoVegas unit

Revenue dips in Q1 at MGM’s LeoVegas unit

Article brief provided by iGaming Business
  • Marese O'Hagan, iGaming Business
May 29, 2023 7:59 PM
  • Marese O'Hagan, iGaming Business

LeoVegas reported a revenue decrease of 3.5% to €95.0m ($101.8m) during the first quarter of the year.

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The quarter saw LeoVegas secure a new gaming licence in Germany and sell its 25% share in online gambling company BeyondPlay to Bettor Capital for €1.9m.

Since the quarter ended, LeoVegas has been involved in two major deals – its acquisition of Push Gaming and the finalisation of MGM’s bid to purchase the company.

LeoVegas said that gross gaming revenue fell by 3% yearly in the Nordic countries, compared to 17% in its Rest of Europe segment. Comparatively, in the Rest of World region, gross gaming revenue fell by 28%.