Press Releases

LeoVegas carries out strategic measures in the UK and related cost initiatives

Published

6 years ago

January 31, 2020

LeoVegas is carrying out strategic changes coupled to the UK market and the Group’s organisation. During the first quarter the brands Rocket X provide managed services for will be migrated to the Group’s own technical platform, while the Royal Panda brand will leave the UK to instead focus on fast-growing markets in Europe and the Rest of the world. This will result in a more focused and efficient operation that fully uses economies of scale in technology, product and organisation. As a result of the company’s efficiency improvement work, a planned relocation to new offices in Malta is being called off. These various initiatives will lead to annual cost savings of approximately EUR 3.7 m. One-off restructuring costs of EUR 6.1 m will be charged against operating profit for the fourth quarter. LeoVegas is also recognising an impairment loss of approximately EUR 10 m on its investment in Royal Panda.

The UK market for online gaming has changed dramatically in recent years, such as with respect to stricter demands on compliance and higher gambling taxes. At the same time, since the trade and assets of IPS (Rocket X managed brands) and Royal Panda, LeoVegas has conducted its operations in the UK on three separate technical platforms and with three slightly separate organisations, which has resulted in internal complexity. As a result, in 2019 the marketing organisations for LeoVegas UK and Rocket X were integrated into a single unit. The Group is now taking the next step by migrating the Rocket X managed brand portfolio from a third-party solution to the Group’s own multibrand platform Rhino, where all technology is owned and run by LeoVegas. Parallel with this, Royal Panda is leaving the UK market, which entails that all operations coupled to the UK going forward will be driven on the same technical platform and with a joint organisation for technology, products, customer service, marketing and compliance.

The strategic initiatives were begun during the fourth quarter of 2019 and are expected to be largely completed during the first quarter of this year. The measures are expected to generate cost synergies in areas such as marketing, products, payments and customer service, and will result in reduced complexity in compliance. The annual savings relating to the UK are estimated to be approximately EUR 2.0 m after the migration has been completed and consist mainly of lower platform and product costs and a more efficient organisation.

During the fourth quarter Royal Panda had sales of approximately EUR 1.1 m in the UK with negative profitability and is not expected to generate significant revenue during the first quarter of 2020. Revenue for the remaining operations in the UK, consisting of 13 brands including LeoVegas, 21.co.uk and BetUK, grew 15% during the fourth quarter over the third quarter and showed good profitability.

LeoVegas’ focus on efficiency and cost control during the past year, including the now-communicated measures in the UK, have contributed to a much more optimised organisation with improved processes. The number of full-time equivalent employees in the Group has decreased from just under 900 to around 800 during the past year. The Group has therefore decided to cancel its contract for new, larger premises in Malta in 2021 and will instead stay in its existing facilities during the coming five-year period. The annual cost savings compared with the previously planned move will amount to EUR 1.7 m per year.

The initiatives will give rise to total restructuring costs of EUR 6.1 m, which will be charged against operating profit (EBIT) for the fourth quarter. The costs are mainly related to early cancellations of third-party agreements on platforms and products, penalties for cancellation of the new lease in Malta, discontinuation costs for Royal Panda’s operations in the UK, and impairment of LeoVegas Gaming’s intangible assets coupled to Rocket X’s previous technological development. In addition to this, LeoVegas is recognising an impairment loss of approximately EUR 10 m for its investment in Royal Panda. All of the cited costs will be reported as items affecting comparability in the fourth quarter interim report. The operating profit in the fourth quarter will also include a capital gain of EUR 11.4 m from the previously communicated sale of the subsidiary Authentic Gaming, which will also be reported under items affecting comparability.

“The strategic initiatives we are now carrying out will create optimal conditions to be successful in the large, but at the same time complex, UK market,” comments Gustaf Hagman, Group CEO. “The consolidation of brands into one and the same platform will contribute to large economies of scale in the Group – both by allowing us to fully utilise our multibrand technology and through a more efficient organisation. Already during the second half of last year, the LeoVegas and Rocket X managed brands in the UK began to perform favourably, and the new structure gives us a good starting point to increase both growth and profitability in the UK market during 2020. At the same time, Royal Panda – which has struggled with weak performance in the UK but has performed well in other markets – can now focus fully on growth outside of the UK and also launch the brand in a couple of new markets in and outside of Europe.”

LeoVegas will publish its interim report for the fourth quarter of 2019 at 8 a.m. CET on 14 February.

Africa

BongoBongo Partnership Boosts GR8 Tech’s Expansion in Africa

Published

17 hours ago

October 14, 2025

George Miller

bongobongo-partnership-boosts-gr8-tech’s-expansion-in-africa

Reading Time: 2 minutes

GR8 Tech has joined forces with East African iGaming brand BongoBongo. Active across Uganda, Zambia, Tanzania, and Kenya, BongoBongo is known for its bold growth strategy and sharp market focus. Now, that momentum continues with the launch of GR8 Tech’s ULTIM8 Sportsbook—a high-performance solution built for ultimate speed, scale, and competitive edge.

While the iFrame integration already powers live operations, BongoBongo is also one of the first brands to leverage GR8 Tech’s robust backend integration via API. This will enable BongoBongo to take full control of the front end, tailoring the player experience to its brand vision while relying on GR8 Tech’s infrastructure under the hood. It’s a heavyweight blend of freedom and firepower, built for operators ready to differentiate and dominate.

“As we continue to grow across Africa and expand our local teams, having a high-performance sportsbook that complements our casino-first strategy is key. GR8 Tech gives us exactly that: the freedom to shape our frontend on top of a powerful, scalable engine. With the ULTIM8 solution and API, we’re ready to raise the bar for our players,” said Randy Heyrowsky, CEO at BongoBongo.

GR8 Tech’s Proven Success in Africa

GR8 Tech has already demonstrated strong traction in Africa by delivering a custom light sportsbook frontend for a regional operator in 2024. Designed for real-world conditions typical for the region, such as slow networks, older devices, and limited bandwidth, the solution prioritized speed and performance. The results were striking: conversion from registration to first deposit rose by 12% and user retention more than doubled, from 10% to 25%.

It was a strategic localization. GR8 Tech’s ability to blend performance engineering with market-specific UX shows what’s possible when products are built to meet the moment. In Africa and beyond, this is how heavyweight platforms win.

“Every market has its own demands, and success comes from listening closely and building accordingly. With Africa, we’ve proven that smart technical decisions drive long-term value. Now, with BongoBongo, we’re doubling down on that principle. They have bold plans and deep market insight, and we’re excited to support their next phase with tech that’s fast, flexible, and built to scale with their vision,” said Yevhen Krazhan, CSO at GR8 Tech.

Connect with GR8 Tech at the upcoming SiGMA Central Europe to discover new developments and explore opportunities.

The post BongoBongo Partnership Boosts GR8 Tech’s Expansion in Africa appeared first on European Gaming Industry News.

Daniel Falvey Casino Manager at Dragon Bet

DragonBet fires up its slots offering with Stakelogic games

Published

18 hours ago

October 14, 2025

George Miller

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Reading Time: < 1 minute

Stakelogic’s latest UK deal brings its full slot suite and Spin to Win jackpot feature to DragonBet players

Casino content provider Stakelogic has announced a new partnership with UK-facing sportsbook and casino operator DragonBet, bringing its extensive suite of slot titles to one of the UK’s most exciting independent brands. The integration, facilitated via Relax Gaming, further strengthens Stakelogic’s presence in the UK and adds a high-performance slot offering to Dragon Bet’s growing casino vertical.

As part of the deal, Dragon Bet players will now have access to Stakelogic’s complete slot portfolio, headlined by recent top performers including Wrath of Zeus ClusterBreaker and Kraken’s Catch, alongside classic-style fruit games and modern video slots packed with advanced mechanics.

Also included in the rollout is Spin to Win, Stakelogic’s pioneering progressive jackpot system. Built to deliver real-money wins directly from within the base slot game, Spin to Win randomly selects a player and transports them to a live jackpot wheel – injecting gameplay with the potential for an unexpected twist and big rewards.

Neil Tanti, Head of Sales at Stakelogic, said: “Dragon Bet is a standout brand in the UK betting scene, with strong local roots and big ambitions. We’re thrilled to bring our full slot portfolio to their players and to support their casino growth strategy with content built for engagement and performance. Spin to Win is a great example of how we’re pushing the boundaries of what a slot experience can be.”

Daniel Falvey, Casino Manager at Dragon Bet, added: “At DragonBet, we’re committed to offering something fresh, exciting, and truly engaging for our players. Stakelogic fits that bill perfectly. With innovative, fast-paced slots and unique features like their Spin to Win progressive jackpots, they bring a dynamic new edge to our offering that we’re confident our players will love.”

The post DragonBet fires up its slots offering with Stakelogic games appeared first on European Gaming Industry News.

BGaming

BGaming Strengthens Its Presence in Italy with San Patrignano Contribution and Introduces New Game Classification

Published

19 hours ago

October 14, 2025

George Miller

bgaming-strengthens-its-presence-in-italy-with-san-patrignano-contribution-and-introduces-new-game-classification

Reading Time: 2 minutes

Rapidly expanding content provider shows commitment to responsible gambling in Italy ahead of SiGMA Rome

Popular iGaming content provider BGaming solidifies its position in Italy with a refreshed game classification system and a new local social initiative. As part of its growing commitment to the Italian market, BGaming has made a significant financial contribution to San Patrignano, a local non-profit organisation supporting people struggling with gambling and other addictions. The donation will help fund the community’s recovery programme dedicated to the rehabilitation of people with gambling addiction, reinforcing BGaming’s focus on responsible gaming and customer well-being.

San Patrignano’s long-standing rehabilitation programme helps individuals rebuild their lives through professional guidance, education, and strong community support for both participants and their families.

This initiative follows BGaming’s recent acquisition of a licence in Italy in March 2025, highlighting the company’s ongoing efforts to build a sustainable and socially responsible presence in the region.

Alongside its social commitment, BGaming has also introduced a new classification of its gaming portfolio, designed to reflect the studio’s diverse and player-oriented approach. The refreshed structure divides its titles into three key categories: Casual, Classic, and Entertainment.

The Casual category features fast, easy-to-play titles that typically provide shorter playing sessions and high engagement rates. Top performers in this category include hits like Aviamasters, Plinko, Plinko 2, Balloon Mania, Golden Piñata Hold & Win, and Winter Fishing Club.

The Classic category includes more traditional slot games, featuring classic gameplay mechanics and low to medium volatility. Popular games in this category include Burning Chilli X, Hot Chilli Bells, Lady Wolf Moon, and Fruit Million.

Finally, there is the Entertainment category, featuring high-volatility games characterised by their advanced gameplay features, bonus buy options, and strong appeal to streamers. Headliners in this category include Snoop Dogg Dollars, Merge Up, Bonanza Billion, Aztec Cluster, Wild West Trueways, and the iconic Elvis Frog series.

Those interested in discussing what BGaming has to offer can visit the company at booth 2049 during SiGMA Rome, which takes place from November 3rd to 6th.

Olga Levshina, CCO at BGaming, said, “Italy is an incredibly important market for us, and we are proud to strengthen our presence here not only through innovative content but also through meaningful action. Our partnership with San Patrignano reflects BGaming’s belief that entertainment and responsibility must go hand in hand.

At the same time, the refreshed game classification provides both our partners and our players with more clarity on what to expect from each game. We are excited to showcase the diversity of BGaming products and meet potential partners at SiGMA Central Europe.”

The post BGaming Strengthens Its Presence in Italy with San Patrignano Contribution and Introduces New Game Classification appeared first on European Gaming Industry News.