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Online Casino e coronavirus pandemic and the recent influx of unlicensed online casino operators into its home market. The Stockholm-headquartered firm used an official press release to detail that its aggregated third-quarter net revenues rose by just 1% year-on-year to €88. Online Casino 9 million (5 million) despite recording a comparable 2% boost in local currencies. The operator moreover explained that its earnings before interest, tax, depreciation and amortization for the three months to the end of September declined by almost 6. 3% to €11. 9 million ( million) off of a margin of 13. 4% even as the number of depositing customers increased by 26% to 438,691. Online Casino Extensive portfolio:LeoVegas AB is responsible for a plethora of iGaming sites including RoyalPanda.

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uk and recently made its GoGoCasino. Slots 7 Casino Free Chip com and LiveCasino. com domains available to online casino aficionados in neighboring Finland. The Swedish firm moreover revealed that the third quarter saw it boost its ownership in the Pixel. bet enterprise to 85% while paying out some €500,000 (0,400) to optimize and streamline its operations. Online Casino Detrimental factors:Despite all of these efforts, the operator proclaimed that its bottom line for the three-month period had been negatively impacted ‘by the temporary restrictions’ introduced to help Sweden stop the spread of the coronavirus pandemic. Online Casino Gustaf Hagman, Chief Executive Officer for Llive european roulette onlineeoVegas AB, declared that his firm had furthermore suffered at the hands of ‘a troubling development in which the unlicensed market continues to grow unhindered’. Online Casino Read a statement from Hagman…“A growing number of operators without licences are actively targeting Swedish players including those who have been barred by the Spelpaus self-exclusion tool.

This has been confirmed by, among others, several organizations that provide help to people with a gambling problem. These organisations have noted that the majority of those seeking help are playing with unlicensed operators. Online Casino The problem is big and is shaking the foundations of the entire Swedish licencing system. Quick and strong measures are now needed by Swedish politicians and authorities to ensure a well-functioning Swedish gaming market. Online Casino ”Recent recovery:LeoVegas AB went on to announce that it is expecting to see approximately €1. Online Casino Online Casino 5 million (. Online Casino 7 million) in cost savings next year as a result of its earlier optimization efforts and posted preliminary net revenues for October that were 27% higher year-on-year at around €33 million (. Online Casino 9 million).

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