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LeoVegas AB Q3: Quarterly report 1 July– 30 September 2020
THIRD QUARTER 2020: 1 julY–30 september
- Revenue increased by 1% to EUR 88.9 m (88.2). Organic growth in local currencies was 2%.
- EBITDA was EUR 11.9 m (12.7), corresponding to an EBITDA margin of 13.4% (14.4%).
- The number of depositing customers was 438,691 (347,464), an increase of 26%.
- Earnings per share were EUR 0.04 (0.05) before and after dilution, while adjusted earnings per share were EUR 0.08 (0.09).
Events during the quarter
- GoGoCasino and Livecasino.com launched in Finland. An international launch of both brands is in progress.
- Operations in Sweden have been affected by the temporary restrictions that were introduced on 2 July as a result of Covid-19
- LeoVegas increased its ownership in the e-sports betting operator Pixel.bet to 85% from 51% previously.
- Operating profit for the quarter includes costs of EUR 0.5 m in organisational streamlining and optimisation measures. Yearly net savings from these measures is expected to total EUR 1.5 m starting next year.
Events after the end of the quarter
- Preliminary revenue in October amounted to EUR 33.0 m (26.0), representing growth of 27%.
- Royal Panda has relaunched in Finland on the Group’s proprietary technical platform.
- LeoVegas has launched Bingo as new product category.
- Ahead of the forthcoming regulation of the German market, effective 15 October a number of changes have been made that affect the customer offering. This had a slight negative impact on revenue in October. LeoVegas expects to receive nationwide licences for the German market once they are available.
COMMENT FROM GUSTAF HAGMAN – GROUP CEO
THIRD QUARTER 2020
Once again, we have shown our ability to quickly adapt to new, external circumstances, such as those related to the continuing pandemic and the constant regulatory changes in our various markets. During the third quarter we maintained a high pace of innovation and investment, which is strengthening our long-term position and growth prospects.
During the quarter our customer base again reached a new record level. The number of depositing customers grew 26% compared with the same period a year ago, which confirms the strong development of our business. This is partly attributable to the ongoing structural shift from land-based gaming to online, but above all to our focus on creating the best product and experience for our customers. We continue to optimise scalability and reduce complexity in the organisation. During the quarter, among other measures we realised synergies from previous acquisitions and instituted a clearer organisational and Group structure. This has led to a slight level of staff redundancy, and operating profit was charged with EUR 0.5 m for measures coupled to this. At the same time, we estimate that yearly net savings from these measures will amount to roughly EUR 1.5 m starting with next year. Our efficiency improvement work equips us for continued profitable growth and makes us – combined with greater diversification of the revenue base – more resilient to rapid fluctuations in individual markets.
MARKETS
We had a favourable development in most of our markets during the quarter, with our growing customer base as the main driver. Many markets had double-digit growth compared with the same period a year ago.
In Sweden we are seeing a troubling development in which the unlicensed market continues to grow unhindered. A growing number of operators without licences are actively targeting Swedish players, including those who have been barred by the self-exclusion tool Spelpaus. This has been confirmed by, among others, several organisations that provide help to people with a gambling problem. These organisations have noted that the majority of those seeking help are playing with the unlicensed operators. The problem is big and is shaking the foundation of the entire Swedish licence system. Quick and strong measures are now needed by Swedish politicians and authorities to ensure a well-functioning Swedish gaming market.
In Germany the federal states have agreed to introduce a licence system for gaming, which is expected to be implemented during the second half of 2021. We are looking forward with confidence to Europe’s largest market finally being regulated. Ahead of implementation of the licence system, it is expected that operators will carry out certain limitations in their respective customer offerings in advance. LeoVegas has already begun implementing such limitations, which will initially have a negative impact on revenue. Details on regulation of the German market are provided in the Legal update section in this report. LeoVegas today has a licence in the German state of Schleswig-Holstein and expects to receive nationwide licences once they are available. Germany generated approximately 17% of the Group’s total revenue during the third quarter.
technology and products
The quarter was intense for our technology and product organisation, with the completion of a number of major projects. For example, we implemented the German regulatory requirements on short notice and launched the GoGoCasino and Royal Panda brands in Finland on our proprietary platform. We also are seeing higher demand for broader entertainment games among our players and therefore recently launched our Bingo product.
comments on fourth quarter
Preliminary revenue for the month of October amounted to EUR 33.0 m (26.0), corresponding to annual growth of 27%. The changes introduced in the German market on 15 October have had a slightly negative impact on revenue.
With a positive start to the fourth quarter, a record-large customer base and many exciting initiatives I am looking forward to a strong end to the full year.
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: 2874453 or join at the web https://edge.media-server.com/mmc/p/budae7ar
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Bone Appetit
INSPIRED LAUNCHES BONE APPÉTIT & GOLD SPINNER ACROSS ONLINE & MOBILE
Reading Time: 2 minutes
Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, is excited to announce the launch of Bone Appetit
and Gold Spinner
across the UK and Malta iGaming markets. Featuring striking visuals and thrilling gameplay, this pair of online and mobile slots has been designed to captivate players and drive strong performance for operators, further expanding Inspired’s growing iGaming portfolio of premium content.
Bone Appétit is a lively, pet-themed slot game played on 5X3 reels with 243 ways to win. Developed with a playful mix of pet-themed characters, the game offers an array of engaging features, including Bonus and Scatter symbols that unlock Free Spins, the Wheel Bonus, and progressive-style rewards.
The Wheel Bonus awards cash prizes and special features, while random appearances from a mischievous dog can trigger Big Wins or Bonus rounds. During Free Spins, cat chefs prepare a series of culinary upgrades, with the final payout determined by the quality of the dish they land, with higher-tiered dishes yielding the biggest rewards.
Players can enhance and customise their experience through Fortune Spins, Fortune Bet, and Bonus Buy options, or take risks with the Gamble feature for potentially larger prizes. Bone Appétit delivers an entertaining slot experience designed to appeal to a player’s appetite for light-hearted slots fun.
Gold Spinner
is a high-energy 5×4 Ways Pays slot that blends dazzling gold-themed visuals and electrifying graphics with exciting gameplay. Designed for thrill-seeking players, the game revolves around a unique coin collect mechanic supported by two powerful bonus features that build anticipation and deliver potentially big rewards.
A pseudo-persistent coin pile collects coins from the first two reels, guaranteeing a coin drop when triggered. Coins landing on these reels activate a mini slot feature, awarding extra coins, multipliers, or boosts, all of which can carry into the Free Spins Bonus for even greater win potential.
As always, players can further tailor their experience through features such as Bonus Buy, which guarantees a Free Spins coin, Fortune Spins for streamlined play, and Fortune Bet for increased Free Spins frequency. With its combination of striking visuals, immersive mechanics, and adrenaline-fueled gameplay, Gold Spinner delivers a super-charged slot experience packed with winning opportunities.
Claire Osborne, Vice President of Interactive at Inspired Entertainment, said: “We are delighted to expand our iGaming portfolio with the launch of Bone Appétit and Gold Spinner, two fun titles that showcase the creativity and variety Inspired is known for. From the playful charm of Bone Appétit to the high-voltage thrills of Gold Spinner, both games deliver distinctive themes and engaging bonus features designed to entertain players and drive a strong performance for our operator partners.”
The post INSPIRED LAUNCHES BONE APPÉTIT & GOLD SPINNER ACROSS ONLINE & MOBILE appeared first on European Gaming Industry News.
Angel Gardzhev Product Owner at Sneaky Slots
Sneaky Slots drags players to the streets of Eastern Europe with its latest release, Gopnik
Reading Time: 4 minutes
Spit sunflower seed shells and take a walk with us to the rougher and tougher side of Europe with Sneaky Slots’ latest release Gopnik. Once you’re done squatting with the locals, get ready for our last release of 2025, Gods Go Pew Pew.
Reel Area
Gopnik plays out across a gritty 4-4-4-4-4 reel setup, where street smarts are the most important thing followed by babushka’s home-made cooking.
Two special symbols, Babushka and the Burner Phone, are like two peas in a pod that can deliver some unexpected neighbourhood drama.
- Babushka acts as a Wild and substitutes for all paying symbols. When she lands, she marks 1 to 4 positions across the other reels. If a Gopnik symbol hits any marked spot, it awards an instant bet multiplier of up to 50x.
- Burner Phone: RING RING! Ey brat, pick up! When this symbol drops on reel 5, it flips 2 to 4 random symbols into Wilds.
xNudge®
Fresh from the Nolimit streets, xNudge® rolls into Sneaky Slots for its debut.
The xNudge® Wild always nudges to become fully visible and substitutes for all paying symbols, increasing its win multiplier by 1 for every nudge. It can appear in the base game, Street Roll, and Super Street Roll (but never on the 1st or last reel), with up to 2 xNudge® Wilds landing per spin in the base game and Street Roll, and up to 4 in Super Street Roll.
Pick Your Bonus!
(Scratch Card Bonus Entry)?
Land 3 Bonus scatters to whip out a Scratch Card and try your luck. Matching symbols will trigger either Street Roll or Kiosk Raid Bonus games.
Hit the Super Bonus scatter on reels 4 and 5 alongside the Bonus scatters, and level up to the Super Scratch Card Bonus.
Keep an eye out for the Golden Car on the scratch card. Reveal this to win the filthy 6,666x Max Win.
Street Roll
Street Roll drops you onto the cardboard with 7 Free Spins and a boosted 6-reel setup. During this feature, Gopnik symbols on the 1st and last reel can land holding a dice token. If you manage to hit a Gopnik-with-dice on both ends, you’ll trigger the Cheeki Breeki Dice mini game, packed with multipliers also featuring xNudge.
Super Street Roll
Same rules as Street Roll apply, but if a win Multiplier is awarded from the Cheeki Breeki dice game it stays for the whole round and is stacked up with each new Multiplier awarded.
Cheeki Breeki Dice
Ey brat, come closer… got a game for you.
During Street Roll or Super Street Roll, the Cheeki Breeki Dice can hit the cardboard, and whatever those cubes show decides your fate. If the left die wins, you score a win multiplier for the current spin. If the right die wins, you get a burst of random Wilds. The value of the multiplier or the number of Wilds match whatever number landed on the winning die.
Land three pairs and you score a retrigger of 5 Free Spins. But hit the same pair three times in a row and boom, you unlock the Blyatiful Throw, awarding an instant prize based on the number rolled.
Kiosk Raid Spins
Kiosk Raid starts you off with 3 Spins, and only label symbols can drop. Every time a label lands, your spin count resets back to 3. Up top, the kiosk shelf flashes fresh bet multipliers each spin. Land a label right under one, and it grabs that multiplier and holds it till the end. Multipliers range from 1x all the way up to a fat 100x.
On every spin, the Kiosk Lady places bet multipliers across the top shelf of her stand. Each time you land a new label symbol below a Multiplier it will receive that Multiplier and hold it until the end of the bonus. And if the Kiosk Lady’s in a good mood (or just bored) she might toss in a modifier on the top row, giving a random label below a little upgrade.
Your total bet multiplier racks up above the grid as the labels stack their value. When the bonus ends, the Kiosk Lady whips out her trusty old calculator, probably older than Babushka, totals everything up, and hands over your payout with that classic “don’t bother me again” energy.
- Upgrade – Upgrades Multiplier on a random label below it to a bigger value.
- Double – Doubles value of a random label symbol below it.
- Collect – Collects a random label below it and adds its value to the total bet Multiplier again.
- Super Bonus – Gets you into Super Kiosk Raid.
Super Kiosk Spins
The same rules as in the normal Kiosk Raid apply here as well, but 2 more rows are unlocked. The first adds room for even more label symbols, while the new bottom row rolls out extra added values; from +1 all the way to +100, boosting every label stacked above it. This bottom row can also reveal exclusive Super modifiers, hitting entire vertical lines at once:
- Upgrade All – bumps all multipliers in that column to a higher value.
- Collect All – collects every label in that column and adds their total again.
- Double All – doubles the value of all labels in that column.
Sneaky Buy
Can’t wait for the shop to open up on its own? Ey brat, no shame in cutting the line. You can directly purchase the game features through the Sneaky Buy menu!
- Street Roll – You are guaranteed to enter the Street Roll Bonus.
Sneaky Boost
Sneaky Boost is activated for 2 times the base bet, where there is an increased chance of triggering the Bonus rounds. Landing 1 or 2 active Sneaky Symbols in a spin trigger a normal bonus feature.
Super Sneaky Boost can be activated for 5 times the base bet for an increased chance of triggering the Super Bonus feature. Landing 1 Super Sneaky symbol will trigger a normal Bonus and landing 2 Super Sneaky symbols will trigger a Super Bonus.
The Stats
Max Win: 6,666x
Volatility: Highly Volatile
Angel Gardzhev, Product Owner at Sneaky Slots, said: “We wanted to follow up Freak Show Revelation with something that hits even harder, and nothing hits quite like a proper Gopnik. The mechanics, the humour, the whole vibe came together in a way we’re incredibly proud of. Sit tight, brat… this is only the beginning.”
The post Sneaky Slots drags players to the streets of Eastern Europe with its latest release, Gopnik appeared first on European Gaming Industry News.
10 Santa’s Reindeers
Push Gaming unwraps festive fun with 10 Santa’s Reindeers and Santa Hopper
Reading Time: 2 minutes
B2B gaming supplier Push Gaming is spreading a double-dose of holiday cheer with the launch of 10 Santa’s Reindeers and Santa Hopper, two seasonal slots packed with excitement, charm, and immersive gameplay.
Leading the festive line-up is the latest Push Actions title, 10 Santa’s Reindeers, arriving in lobbies from 26th November. Inspired by Push’s hit game 10 Swords, this new release retains the popular scatter-pay mechanic while adding a fresh twist with Jackpot Reindeer symbols. These not only act as scatters but also grant instant prizes, offering players even more to aim for on each spin.
The true magic happens in the bonus game, where players unlock additional reel levels as they progress, boosting the chances of landing high-value Reindeer symbols and increasing win potential.
The base game provides the opportunity to enhance the gameplay once the bonus lands, thanks to the Push-Up Mods feature, which allows players to expand the reel set early, increasing their chances and ensuring a more powerful bonus round.
Arriving a week earlier on 19th November, Santa Hopper presents a more whimsical take. Set in a snowy wonderland, this charming slot offers light-hearted fun with the Santa and Jingle Drop features, both designed to keep gameplay unpredictable and engaging.
The latest addition to the Push Originals stable, it flexes its appeal to casual players with vibrant visuals, catchy mechanics, and lively pacing. Its approachable style and festive vibe make it an ideal choice for players looking for light-hearted entertainment with strong seasonal appeal.
George Fil, Director of Product Strategy at Push Gaming, said: “Christmas is always a special time in the slot world, and this year we wanted to offer something for everyone. 10 Santa’s Reindeers is packed with action and surprises, while Santa Hopper brings a more playful, unpredictable energy.
“Both are built to deliver that festive buzz players love, and we’re really excited to see them go live.”
The post Push Gaming unwraps festive fun with 10 Santa’s Reindeers and Santa Hopper appeared first on European Gaming Industry News.
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