Nordic Leisure Targets Eastern Europe

Scandinavian online gambling operator Nordic Leisure will focus on expanding operations in Eastern Europe after reporting a 7% year-on-year drop in second-quarter revenue from SEK24.5 million (€2.8 million/$3.7 million) to SEK22.8 million.

In posting its figures for the three months until the end of June, Nordic Leisure said that despite generating an increase in the number of registered players, player deposits fell from SEK95 million to SEK92.6 million.

Nordic Leisure, which sold Malta-based Redbet Gaming to iGaming operator Bonnier in May, said that post-tax profit rose slightly to SEK900,000 from SEK200,000.

“The group and its Livonia Gaming subsidiary will now focus its operations on Eastern Europe,” Nordic Leisure President Claes Hallén said.

“The group’s involvement in the gambling sector is through the Livonia Gaming subsidiary.

“The sale of Redbet sets the stage for a well-planned expansion into Eastern Europe. (Livonia Gaming’s) operational headquarters are in Riga (Latvia) where recruitment of new employees is underway.

“During the autumn, the board will take strategic decisions regarding the future development and direction of the group.”

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