14. LeoVegas (2017)
Welcome to the EGR Power 50 rankings of the online gambling industry’s most powerful operators
LeoVegas takes the well-deserved accolade of being the biggest climber in this year’s Power 50 as the firm continues on its path to becoming a pan-European multi-vertical operator.
The maturity of the business, with a market cap of almost €700m, is arguably best exemplified by the Stockholm-listed firm getting its first taste of M&A following its €6m acquisition of Winga in February.
The company also boasts a cash balance of nearly €60m and no debt, making future acquisitions increasingly likely.
But while the Winga deal was a clear statement of intent from the operator, M&A remains a very small part of the broader LeoVegas story.
Organic revenue growth of 55% in H1 shows a business clearly in rude health, and one that continues to outperform the wider market as it reaps the rewards of its Kambi-powered sportsbook, live casino product and expansion into new European markets.