High profitability in the fourth quarter of 2016 propelled Swedish online gaming company Leo Vegas Group (LeoVegas) to a record year financially and thus far, there has been no indication that 2017 will deliver anything short of another great year.
Combined with its release of Q4 and full 2016 figures, the company also updated shareholders on progress thus far in the new year.
“Net gaming revenue (NGR) in January totalled EUR 14.1 m. Overall we are very pleased with how the KPIs in the first quarter have opened up, which gives us confidence for a strong development for the year on our path towards our 2018 financial targets,” the company stated in a press release following the release of its financial report.
“LeoVegas continues to develop according to our vision: to create the greatest gaming experience and be number one in mobile gaming. With a strong cash position of over EUR 55 m, LeoVegas is poised to capitalise on the great opportunities in the industry,” it was added.
The company is scheduled to release its full first quarter financials on May 3.
Live Casino The Hottest Trend in Online Gaming
One of the fastest growing segments of online gaming has been Live Casino games, where players interact with a live dealer or croupier and watch the action play out in real time via a web cam. High end audio and video provide a realistic experience for online players.
Many players prefer this new online gaming method to the more traditional computer generated simulations that are commonly found at online gaming sites. Interaction with real people that they can see and hear along with being able to see the action unfold in front of them, gives many players more confidence in the authenticity of the games and greater overall enjoyment.
LeoVegas has capitalized on the popularity of Live Casino games in part through Authentic Gaming, an independent company within the LeoVegas Group. Authentic Gaming launched its Live Casino last fall through several online gaming operators, and earlier this year it expanded its product distribution by adding brands within the Kindred Group, including Unibet.
Authentic Gaming also made headlines last month by offering Live Roulette right from the exhibition floor of the international gaming industry’s premiere convention, iCE.
The company has also expanded its Live offering to include entertainment by providing its land-based casino customers.
Authentic LIVE! treats online players to premium entertainment from land-based casinos including concerts and shows. The events are delivered within a Live Casino game.
“Land-based casino players are used to getting “entertainment” as a part of their visit to quality casino resorts. Online players will now have the same treatment. Authentic Gaming’s b2b clients will be able to book their own preferred acts and broadcast those in-game exclusively on their brands,” the company boasts on its web site.
CEO and co-founder of LeoVegas, Gustaf Hagman, commented that “growth in the LeoVegas Group is being driven not only by geographic expansion and new product categories for LeoVegas.com, but also by investments in innovative and entrepreneur driven companies. Jonas Delin and his team at Authentic Gaming have done an amazing job, and it will be exciting to follow their progress.”
