Sweden’s LeoVegas mobile gaming group has reported second quarter EBITDA of €15m, higher than expected.
The company has revenue for the quarter of €87m. It said that marketing costs in relation to revenue are at 35 per cent, significantly lower than that reported in the first quarter when it was expected to be 42 per cent in Q2.
Said Gustaf Hagman, CEO: “Our data-driven marketing model works so that we only invest if we see good enough returns in our marketing channels. During the World Cup there are many gaming companies that are advertising, which means that the effectiveness of marketing and the value of customers can be more uncertain.
"Our models have indicated that we should not advertise in some channels due to the low return and that in turn led to a significantly higher EBITDA than expected.”
