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#Nordic Leisure: Continued good growth

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Online casino operator Nordic Leisure reported its Q2 2015 results yesterday after market closing in Sweden. The numbers showed continued good growth for the company in terms of sales, gaming revenue and number of active online customers and are following the trend of Q1 2015.

Q2 2015 sales amounted to SEK 25,2m which implies y-o-y growth of 63%. The number of active online customers amounted to 16 910, implying y-o-y growth of 57%.

Says CEO Robert Arfvidsson: “We have during the same period increased investments with focus on product development and personnel in order to strengthen our current position while at the same time accelerating growth on existing and new markets. The company has recruited key staff within business development with focus on new markets, as well as within IT with focus on development of existing platforms and development of mobile platforms.”

The most important brand of the company is Optibet, which is driving growth, particularly on the Latvian market where gaming revenues continue to grow by around 50% compared with the same period one year ago. Nordic Leisure has acquired  real estate in Latvia for continued development of their chain of gaming boutiques. Optibet is also continued strong growth in Estonia during the period.

Total gaming revenue for the group increased by 113% y-o-y which has to be compared with Q2 2014 when the football world cup in Brazil marked an important factor. Gaming revenue increased by 25% sequentially, which is a result of marketing campaigns, according to the company.

During Q2, Nordic Leisure has launched a new platform, optibet.com, licensed in Malta, which offers odds and casino via internet. The platform is targeted to customers outside Estonia and Latvia and is an important part of the company’s future focus on new markets and to reduce the dependence on individual markets. Optibet.com was launched in mid-June and has since then shown good growth with continuously increasing customer activity. The company aims to launch the brand Optibet on at least three new markets within the coming 12 months.

Elsewhere, Nordic Leisure has officially launched its affiliate-programme LAP (Lifland Affiliate Program) during Q2, which enables affiliate business on current and future markets alike. The programme is an important part of the company’s expansion plans and according to the CEO, the company has initially experienced strong interest from affiliates from the European market in regards to the brand Optibet with its product offering.

CEO Arfvidsson continues: “Increasing gaming revenues in combination with an increasing number of active customers show that we have succeeded in our endeavour to build strong brands which attract new customers and affect customer loyalty in a positive manner. Our good solidity and strong liquidity are prerequisites to succeed in our effort to create growth, both organically and via acquisitions. In combination with the company strategy and tactics within sales and marketing, we believe that there are good prerequisites that the company can grow faster than the market.”

Nordic Investor

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