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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2020

Published

5 years ago

August 13, 2020

George Miller

Reading Time: 5 minutes

“The strong EBITDA growth clearly illustrates the scalability of our business model”

– Gustaf Hagman, Group CEO

second quarter 2020: 1 april–30 june

Revenue increased by 17% to EUR 110.7 m (94.4). Organic growth in local currencies was 19%.
EBITDA was EUR 23.0 million (15.1), corresponding to an EBITDA margin of 20.8% (16.0%) and a growth of 53 %.
The number of depositing customers was 434,453 (350,298), an increase of 24%.
Earnings per share were EUR 0.14 (0.08) before and after dilution, while adjusted earnings per share were EUR 0.19 (0.11).

Events during the quarter

LeoVegas completed the migration of 12 brands in the UK to the Group’s proprietary technical platform.
The LiveCasino.com brand was launched in a number of English-speaking countries.
At LeoVegas’ Annual General Meeting on 8 May, Anna Frick and Fredrik Rüdén were re-elected as board members. Hélène Westholm, Mathias Hallberg, Carl Larsson, Per Norman and Torsten Söderberg were elected as new board members. Per Norman was elected as Chairman of the Board.
The effects related to COVID-19 are judged overall to have had a positive impact on NGR during April and May, however, the effect on revenues in Sweden was negative during the quarter.

Events after the end of the quarter

Preliminary revenue in July amounted to EUR 30.7 m (29.3), representing growth of 5%. The temporary restrictions introduced in Sweden starting on 2 July have had a negative impact on revenue.
The number of depositing customers increased by 34% in July compared with the same period a year ago, to a new record level for a single month.
GoGoCasino was launched in Finland. An international rollout of the brand is now continuing.
LeoVegas has increased its ownership in the e-sports betting operator Pixel.bet to 85%, from 51% previously.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

SECOND QUARTER 2020
LeoVegas has delivered continued solid growth and profitability during a period of exceptional circumstances in the world around us. Supported by the record-large customer base that we entered the quarter with, together with our ability to quickly adapt to new conditions, the positive trend from the first quarter is continuing.

Revenue during the second quarter amounted to EUR 110.7 m (94.4), representing organic growth of 19%. Net Gaming Revenue (NGR) for casino grew 24% during the period, while for sports betting it decreased by 53% compared with the same period a year ago.

EBITDA amounted to EUR 23.0 m (15.1), corresponding to a margin of 20.8% (16.0%). We thus grew EBITDA by 53%, which shows the scalability in our business model from higher revenue. The sharply improved operating profit has been achieved despite a continued high pace of expansion and increased investments in technology and products.

covid-19
I am very satisfied with how we at LeoVegas are handling the COVID-19 situation so that we can conduct our business without noticeable disruptions, despite challenges such as not being able to meet in our daily work. Our industry, like many other sectors, is experiencing a structural shift from offline to online. Owing to LeoVegas’ online position, appreciated brands and proprietary technical platform, we stand strong in an increasingly digital world.

Markets
We had favourable development in most of our markets during the second quarter. Growth has been driven primarily by a record-large depositing customer base, which grew 24% compared with a year ago. The Rest of Europe region experienced exceptionally high growth, with Italy posting record-strong performance. The effects related to COVID-19 are judged overall to have had a positive impact on NGR during April and May, mainly in the markets that were entirely shut down during the period. In these markets, LeoVegas has taken market shares from the land-based gambling industry. However, the effect on revenue related to COVID-19 is judged to have been negative in Sweden during the quarter.

responsible gaming
During the quarter, several countries implemented measures to reduce the risk for problem gaming in connection with COVID-19. Spain, for example, introduced a temporary ban on gambling advertising. On top of these restrictions, LeoVegas has chosen to implement its own proactive measures to strengthen player protection. Most of the temporary restrictions throughout Europe ended in June, and Spain and the UK, among other countries, have reverted to normal regulations once their respective societies opened up again.

It is therefore remarkable that Sweden, despite massive criticism from most areas, has moved in the opposite direction and introduced new, temporary restrictions, effective 2 July, focused particularly on online casino. There is a large risk that these restrictions, implemented entirely without supporting factual data, are undermining the Swedish regulation system and driving players to companies without Swedish licences, where player protection is non-existent. These restrictions therefore risk being counter-productive and instead contribute to an increase in problem gaming in Sweden.

The independent research consultancy Copenhagen Economics has noted that one consequence of the new restrictions is that the unregulated market for online casino may increase to as much as 50%, which is far from the authorities’ stated goal to limit the unregulated market to 10% at most.

We advocate for balanced and clear regulations for achieving long-term sustainable licensing systems. LeoVegas wants to contribute to this through a broader dialogue and collaboration with the authorities in the countries we are active in.

MULTIBRAND STRATEGY
During the quarter we launched the new LiveCasino.com brand in a number of English-speaking countries. We see great potential for the brand. The start has been promising, and additional markets are to be expected.

Following the successful launch of GoGoCasino in Sweden last year, an international rollout of the brand is now under way. Finland was the second market to launch, at the start of July.

The successful launches of new brands are in line with the company’s multibrand strategy and show our ability to create new revenue streams while at the same time drawing benefit from the Group’s economies of scale.

comments on third quarter
Revenue for the month of July amounted to EUR 30.7 m (29.3), representing a growth rate of 5%.

Our assessment is that the gaming market has returned to a more normal environment in July, with a natural player shift from casino back to sports betting now that the major sports leagues have restarted. At the same time, the temporary restrictions introduced in Sweden starting on 2 July are having a negative impact on revenue.

The positive trend in our customer base is continuing into the third quarter, and the number of depositing customers increased by 34% in July compared with the same period a year ago, to a new record level for a single month. We will maintain a continued high rate of investment during the third quarter, partly linked to the launch of new brands and market establishments. Our current assessment is therefore that marketing costs will be in line with – or slightly higher than – the level during the second quarter.

We continue to focus on delivering sustainable and profitable growth for our shareholders and on offering an entertaining and safe gaming experience for our customers around the world. LeoVegas’ long-term vision is to be “King of Casino”.

Presentation of the report – today at 09:00 CET

To participate in the conference call, and thereby be able to ask questions, please call one of the following numbers: SE: +46 (0) 8 50 69 21 80, UK: +44 (0) 20 71 92 80 00, US: +1 63 15 10 74 95, Confirmation code: 222 77 69 or join at the web https://edge.media-server.com/mmc/p/5fggroyh

External Lottery Manager

Sterling Lotteries selects Yaspa as its primary open banking payments partner

Published

9 hours ago

November 10, 2025

George Miller

sterling-lotteries-selects-yaspa-as-its-primary-open-banking-payments-partner

Reading Time: 2 minutes

Yaspa, the award-winning Pay by Bank fintech, today announced a new partnership with Sterling Lotteries, the UK’s market-leading External Lottery Manager (ELM). Sterling has selected Yaspa as its primary open banking payments provider for prize-led fundraising, enabling faster, safer, and more efficient supporter payments across its charity lottery programmes.

Sterling powers weekly lotteries and raffles for 800+ UK charities, from local organisations to national causes. By integrating Yaspa, Sterling can offer a streamlined Pay by Bank experience that confirms entries in real-time, reduces processing costs, and strengthens fraud protection, thereby freeing up more funds for impact.

Yaspa’s Head of Commercial, Amie Kadhim, said: “Sterling sets a high bar for reliability, security, and supporter experience. We’re proud to power their next chapter with instant bank payments that help charities move faster, enhance engagement, and achieve more with every donation.”

The partnership aligns with Sterling’s ongoing modernisation of the charity lottery model, bringing the convenience supporters expect, while improving cashflow and operational efficiency for fundraising teams. Entry confirmation is immediate and funds settle instantly, helping charities plan with confidence and reduce admin overheads.

Richard Dixon, Managing Director at Sterling, said: “We’re thrilled to be partnering with Yaspa to deliver an open banking solution that represents a true sector-first innovation. From the outset, it was clear that Yaspa shares Sterling’s vision for using technology to drive meaningful change in the charity lottery space. Open banking has transformed retail and financial services and now we’re bringing that same innovation to fundraising. It’s faster, more secure, and significantly more cost-effective for charities. By harnessing open banking, we offer charities a bold, efficient, and future-proof way to engage supporters, especially digital-first donors who expect a seamless experience.”

Key benefits for Sterling and its charity partners include:

Instant payment settlement and immediate entry confirmation
Lower processing costs compared with traditional methods i.e. debit and credit cards
Reduced fraud and chargeback risk, utilising bank-grade security
A smoother, mobile-first, user journey for supporters

The post Sterling Lotteries selects Yaspa as its primary open banking payments partner appeared first on European Gaming Industry News.

Latest News

RocketPlay wins Best Customer Service at European iGaming Excellence Awards

Published

10 hours ago

November 10, 2025

Master Editor

RocketPlay Casino has been awarded Best Customer Service at the European iGaming Excellence Awards 2025 — a widely respected industry award celebrating excellence and innovation worldwide.

For RocketPlay, this award marks a major milestone — proof that genuine care, innovation, and consistent performance are noticed and appreciated by the iGaming industry.

“Our goal has always been simple — to create a service that players can rely on,” said Alex Martin, PR Manager at RocketPlay. “Winning this award highlights that our focus on trust, speed, and human connection truly makes a difference.”

This recognition also reflects the daily work of RocketPlay’s 24/7 multilingual support team, which delivers help within seconds and reaches 90%+ one-touch resolution. The casino maintains a CSAT score above 90%, and over half of all inquiries are now handled through AI-powered chat while keeping the tone personal and friendly.

The brand continues to strengthen its reputation across the community, holding top ratings such as 9.8/10 on CasinoGuru, 9.1/10 on AskGamblers, 4.4/5 on Trustpilot, and 4.3/5 on LCB.

RocketPlay remains committed to pushing standards higher — ensuring every player receives fast assistance, transparent communication. We thank the award organizers and the jury for this meaningful recognition.

Latest News

Boomerang Partners celebrated Golden Boomerang League winners and engaged booth guests with a gift auction at SiGMA Europe 2025

Published

10 hours ago

November 10, 2025

Master Editor

Boomerang Partners, an affiliate marketing agency and an Official Regional Partner of AC Milan, participated in SiGMA Europe 2025 in Rome from November 4th to 6th, 2025. The company’s booth generated heightened interest among conference participants throughout the event. It was designed in the signature ‘Boomerang Arena’ concept, effectively connecting sports and modern technologies. The booth was divided into several themed zones dedicated to football, tennis, basketball, and boxing, as well as locations for sports-related activities.

One of the main highlights of Boomerang Partners’ participation in the Rome event was the announcement of the Golden Boomerang League winners. This sports traffic tournament took place from September 1st to October 31st. It involved current and new Boomerang Partners’ affiliate partners. 68 teams, which generated 20+ sports FTDs for brands from Boomerang Partners’ client portfolio over the two-month tournament period, made it to the final draw. On November 4th, the company determined the winners using certified randomization tools. The winners became:

QQMedia (prize — direct access to the annual Golden Boomerang Awards tournament)
Apex Media (AC Milan Experience package, including paid flight, accommodation, and attendance at an AC Milan home match at San Siro Stadium in Milan)
Luis Xavier (AC Milan Experience package, including paid flight, accommodation, and an AC Milan home match attendance).

The CEO of QQMedia commented: “Those who know me understand that I work with some of the largest operators in the industry, but Boomerang Partners will always hold a special place in my heart. What they are building is truly impressive, and I am proud to be part of this journey, witnessing how Boomerang Partners is steadily evolving from an underdog into a true power player.

A big thank you also goes to their entire team, especially the affiliate department, and in particular to Lilli, whose outstanding work, constant availability, and solution-oriented approach deserve special recognition.

The next goal is of course to win the Golden Boomerang Awards 2026, and we will give it our all to make that happen.”

Boomerang Partners’ booth guests could play ping-pong with promoters, who were actually professional players in disguise, as well as participate in Soccer Penalty Shootout, bowling, volleyball, tennis, and badminton using Nintendo Switch Sports. For participation and wins, they received chips of various denominations. Chips could also be earned by completing tasks on the Wheel of Fortune, ordering drinks at the bar, and even finding them in the open areas of the SiGMA Rome venue. On November 5th, Boomerang Partners hosted a gift auction at their booth, with chips as a currency. These prizes were raffled off:

Luka Modrić (AC Milan) signed jersey
iPhone 17 Pro Max
Ray-Ban | Meta Wayfarer smart glasses
Apple AirPods Pro 3

Those participants who failed to win the auction were in for a surprise. The next day, November 6th, a gift shop with items of varying prices opened at the Boomerang Partners booth. Booth guests could exchange chips for these gifts, which included, for example, AC Milan t-shirts, electric air pumps, instant photo printers, and other prizes.

Anton Eshtokin, Chief Marketing Officer at Boomerang Partners, commented: “Continuing the development of the ‘Boomerang Arena’ concept, we tried to bring numerous sports elements and meanings into the booth atmosphere, thus once again revealing our sports DNA and strategic vector. We traditionally applied the formula that connects business solutions, entertainment, and marketing activities.

We strive to make our booth a place that attracts partners and media, putting considerable effort into preparation, and believe that we have managed to solve the set tasks. We are already preparing for iGB Affiliate in Barcelona and invite you to visit our booth in advance.”

Boomerang Partners are ending 2025 on a major note, but they’re not saying goodbye for long. Stay tuned.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is the 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. The agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The agency’s client portfolio contains 13+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.