Swedish mobile casino operator LeoVegas boosted its Q4 revenue by two-thirds while positioning itself for entry into a regulated German online gambling market.

On Wednesday, LeoVegas reported revenue rising nearly two-thirds to €67.8m in the three months ending December 31, although earnings fell 39% to €6.1m and operating profit dipped 78% to €2.1m, which the company blamed on costs associated with its October acquisition of UK-facing online casino operator Royal Panda.

For 2017 as a whole, revenue was up 43% to €217m, adjusted earnings rose 31% to €27.9m and operating profit improved 36.3% to €19.9m. The new year has also reportedly begun well, with January’s gaming revenue hitting €24.8m, up 76% from the same month last year.

LeoVegas CEO Gustaf Hagman hailed the Q4 results as “one of our best quarters ever, with very strong underlying growth” of 82%, while the number of new depositing customers was up 50% to a record 128,409.