LeoVegas sets €600m revenue target
Nordic operator aiming for €100m EBITDA by 2020 following acquisition spree
LeoVegas has set itself a revenue target of at least €600m by 2020 following the integration of its recent acquisitions.
The operator’s board of directors released ambitious new financial targets this morning with the Swedish firm also aiming for EBITDA of £100m+ in the next two years.
The new targets were set after a period of of strong organic growth and a string of recent acquisitions, which included a £65m deal for UK-facing casino firm IPS and the €60m purchase of online casino brand Royal Panda.
LeoVegas CEO Gustaf Hagman said: “Following our acquisitions we have now drawn up new financial targets.
“In 2015 we set the target to achieve €300m in revenue by 2018 and the new revenue target entails a doubling to at least €600m by 2020 and does not include potential major acquisitions.
“The new targets confirm our continued focus on strong growth combined with a sound view of profitability.
“The targets create transparency regarding where we are headed, both internally and externally.”
Hagman told EGR in February that LeoVegas was still looking at UK acquisition targets to bolster its multi-brand strategy in the market.