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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2021

Published

5 years ago

August 12, 2021

George Miller

Reading Time: 3 minutes

“All-time-high in Sweden and a strong start for Expekt” – Gustaf Hagman, Group CEO

SECOND QUARTER 2021: 1 APRIL – 30 JUNE

Revenue decreased by 13% to EUR 96.8 m (110.7).
Excluding Germany, growth was positive 3%.
Adjusted EBITDA was EUR 10.6 m (23.0), corresponding to a margin of 10.9% (20.8%). Reported EBITDA was EUR 9.8 m (23.0).
The number of depositing customers was 460,697 (434,453), an increase of 6%.
Adjusted earnings per share were EUR 0.06 (0.19).

EVENTS DURING THE QUARTER

The acquisition of Expekt was completed and integrated on 19 May 2021. The start has been a success, and Expekt’s revenue and market share have nearly doubled in Sweden since the acquisition was carried out.
LeoVegas’ forthcoming expansion to the USA, starting in the state of New Jersey, is on track.
LeoVegas carried out share repurchases for EUR 4.9 m and paid out of the first out of four quarterly dividends to the Parent Company’s shareholders. The second quarterly dividend payment was made after the end of the period.
LeoVegas’ framework and routines for ensuring responsible gaming have been assessed by the independent agency eCOGRA. The external assessment shows that LeoVegas is in conformity with all relevant recommendations and requirements for responsible gaming published by the European commission.

EVENTS AFTER THE END OF THE QUARTER

Preliminary revenue in July amounted to EUR 32.8 m (30.7), corresponding to growth of 7%. Excluding Germany, revenue grew 23%.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

SECOND QUARTER
Most of our markets have continued to develop well, with high, double-digit growth in key markets like Italy and Spain. The development in Sweden is encouraging, with record-high revenue during the quarter. We are also growing rapidly in North America, which now accounts for 10% of consolidated revenue. However, re-regulation in Germany continued to negatively impact figures during the period. Excluding Germany, Group revenue increased by 3% to a new record level despite tough comparison figures from the start of the pandemic during the second quarter of 2020 and greater competition from other entertainment activities as societies are now opening up again. We expect to see positive growth for the Group on a yearly basis during the third quarter.

Our operating profit decreased compared with the same period a year ago, while we achieved stable earnings compared with the preceding quarter. This is despite a high level of investments and a number of important, strategic ventures, including our forthcoming launch in the USA, a stronger focus on sports with the acquisition of Expekt, and our new game studio. Marketing costs in relation to revenue were higher than the historic average, coupled among other things to the relaunch of Expekt and investments in a number of key markets in which we see high customer growth. Investments in marketing during the quarter weighed down earnings short-term but are driving value long-term and will also enable us to accelerate out of the revenue drop in Germany. As revenues increase, the share of marketing investment will decrease. At the same time, we have maintained good cost control, and our operating expenses have more or less been unchanged over the last three-year period.

THE NEW EXPEKT
In mid-May we consolidated the acquisition of Expekt, and shortly thereafter “the New Expekt” was launched with a large and attention-grabbing marketing campaign ahead of the Euro 2020 football championship. It was a successful start, and in a short time we nearly doubled Expekt’s revenue and market share in Sweden since completion of the acquisition.

GERMANY
The situation in Germany coupled to re-regulation, with strict product limitations, an extremely high gaming tax and a skewed competitive situation, is having a negative effect on the Group. Revenue in Germany decreased by 81% compared with a year ago and accounted for only 4% of Group revenue during the quarter. We believe it will take time to create a balanced and fair market climate and have therefore chosen to shift our investments to other, more profitable markets. Over the long term we still believe that Germany, with Europe’s largest population, offers great opportunities for the Group.

NORTH AMERICA
Our forthcoming expansion to the USA, starting with the state of New Jersey, is on track. We are currently working on adapting and certifying our technical platform, and during the autumn we will also begin establishing a local organisation. We expect to accept our first American customers during the first half of 2022.

The Canadian province of Ontario, which is home to roughly 40% of Canada’s population, is conducting preparations to introduce a local licence system for online gaming. LeoVegas has built up a strong brand along with a large and loyal customer base in Ontario and the rest of Canada, among other things with help from former hockey legend Mats Sundin. According to our assessment LeoVegas is one of the larger and most well-known casino actors in the Canadian market.

During the second quarter, North America accounted for 10% of the Group’s total revenue and grew 33%. In pace with our continued expansion in Canada and forthcoming launch in the USA, revenue from North America will increase. This is in line with the Group’s strategy to diversify our revenues.

COMMENTS ON THE THIRD QUARTER
Revenue for the month of July amounted to EUR 32.8 m (30.7), corresponding to positive growth of 7%. Adjusted for Germany, the Group’s growth in July was 23%.

Africa

QTech adds Split The Pot games to boost Africa and LatAm offering

Published

9 seconds ago

June 10, 2026

Wladimir P.

qtech-adds-split-the-pot-games-to-boost-africa-and-latam-offering

QTech has signed a content deal with Swedish supplier Split The Pot to add new games to its aggregation platform for African and Latin American markets. The agreement was announced on 10 June 2026.

Under the deal, QTech will roll out Split The Pot’s mobile-optimised “light games”, including Comet Crash Deluxe, Wheel of Fortune and the Zama Big 5 series. The supplier says its titles are designed to support a range of volatility profiles and include “the ability to cashout at every level”.

The companies positioned the partnership around performance in emerging markets where players can face device and connectivity constraints, including lower-spec handsets, limited network access and higher data costs.

Philip Doftvik, QTech’s CEO, said: “Split The Pot offers a welcome breath of fresh air in the sector, especially with their creative cashout functionality working seamlessly even in territories where network connectivity remains a challenge. The games are therefore very well suited for the African markets, in particular, which aligns with our increased focus on the region. Locally adapted content is regularly requested from our clients in Africa, hence we are excited to release Split The Pot’s games to our partners there.”

Christian Rajter, CEO of Split The Pot, added: “We’re thrilled to join forces with QTech. This partnership means even more players in our core markets, like Africa and Latin America, will have access to our engaging games. We’ve designed them to work seamlessly, even on less powerful devices and with limited internet, ensuring everyone can enjoy the experience.”

The post QTech adds Split The Pot games to boost Africa and LatAm offering appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Boomerang Partners

Boomerang Partners opens the Second Half of Golden Boomerang Awards 2026 during the summer of major sports

Published

10 seconds ago

June 10, 2026

Wladimir P.

boomerang-partners-opens-the-second-half-of-golden-boomerang-awards-2026-during-the-summer-of-major-sports

The First Half of the Golden Boomerang Awards 2026 by Boomerang Partners is over, and this annual affiliate tournament is moving into the Second Half. The winner of the opening stage will attend the Wimbledon Championships from June 29 to July 12, 2026, the main prize of the First Half. From June 10 to July 19, the Golden Boomerang Awards will run during one of the busiest periods in the sports calendar, with events such as the FIFA World Cup and Wimbledon Championships expected to drive audience attention throughout the stage. For the Second Half, Boomerang Partners is preparing new mechanics, the next Mystery Box draw, and the main prize of the stage – a private dinner with an AC Milan Legend.

Beyond the Moment enters the next phase

The Second Half continues the main idea behind this season’s concept, Beyond the Moment. A strong start still matters, but the tournament increasingly rewards teams that can stay active throughout the competition and react quickly to key moments in the sports calendar. With updated mechanics and a packed summer schedule ahead, even new participants still have enough time to challenge the current leaders.

The Second Half changes the pace of the tournament

The start of the Second Half changes the scoring system of the Golden Boomerang Awards 2026. From June 10, each Sport FTD now brings 3 points instead of 2. This makes sports traffic even more valuable during one of the year’s busiest periods.

The stage runs alongside the FIFA World Cup and Wimbledon Championships, two events expected to generate sustained traffic throughout June and July. For affiliate teams, this creates more high-traffic periods across the calendar before the tournament enters its final stretch.

New mechanics keep the competition open

The Second Half brings new mechanics for teams joining the tournament or increasing activity during the stage. Participants entering the competition during the first 14 days of the stage will receive double points through the WELCOME BOOST mechanic until the bonus period ends.

Combined with the updated scoring system and major sports events during the stage, this gives both current participants and new teams more opportunities to close the gap and compete for the leading positions.

Boomerang Partners will also continue the Mystery Box series during the Second Half. After the first draw in the opening stage of the tournament, Mystery Box #2 will now go to 9 randomly selected active participants. This keeps additional rewards open to both long-term participants and teams that joined the competition more recently.

The main prize of the Second Half will be a private dinner with an AC Milan Legend in August 2026, continuing Boomerang Partners’ collaboration with the Club as an Official Regional Partner.

Kristina Shkredova, Affiliate Team Lead at Boomerang Partners, commented: “Closing the first stage doesn’t mean the main race is decided. The Second Half changes the tournament’s pace completely: Sport FTDs are now worth more, the sports calendar becomes even more intense, and teams still have enough space to move up quickly. We’ve already seen how competitive this season has become, but summer is where the pressure really starts. For some teams, this will be the moment to defend their position. For others, it’s the best chance to break into the fight.”

The Second Half of the Golden Boomerang Awards 2026 is now underway. As the summer sports season accelerates, affiliate teams still have time to stay active in the competition, use the updated mechanics, and improve their standing before the tournament reaches its decisive stage. Current standings, tournament updates, and registration details for both existing and new participants are available on the official Golden Boomerang Awards 2026 website. It’s TIME TO WIN THE TITLE.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is an Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards – a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Partners of the Agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The Agency’s clients’ portfolio contains 10+ brands offering affiliate and entertainment services across multiple markets in compliance with local regulations. These products provide incentive programs and 24/7 multilingual support.

FIFA World Cup and Wimbledon Championships are made for descriptive purposes only. Boomerang Partners is not affiliated with, endorsed by, or officially connected to these entities in any way.

The post Boomerang Partners opens the Second Half of Golden Boomerang Awards 2026 during the summer of major sports appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Boomerang Partners

Boomerang Partners opens the Second Half of Golden Boomerang Awards 2026 during the summer of major sports

Published

15 seconds ago

June 10, 2026

GamingAmericas.com

Beyond the Moment enters the next phase

The Second Half changes the pace of the tournament

New mechanics keep the competition open

About Boomerang

FIFA World Cup and Wimbledon Championships are made for descriptive purposes only. Boomerang Partners is not affiliated with, endorsed by, or officially connected to these entities in any way.

The post Boomerang Partners opens the Second Half of Golden Boomerang Awards 2026 during the summer of major sports appeared first on Americas iGaming & Sports Betting News.