LeoVegas Group has reported a 1% revenue increase for Q2, but rising expenses contributed to a bottom-line loss of €407,000 ($420,346).
Overall, the company’s second quarter revenue totalled €98m, up year-on-year from €96.8m. However, this modest increase was offset by higher personnel costs and operating expenses.
The former constituted 16.5% of LeoVegas Group’s Q2 revenue, up from 14%, due primarily to an enlarged workforce.
Meanwhile, operating expenses totalled more than 17% of the company’s second quarter revenue, up from nearly 8% last year.