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LeoVegas AB Q3: Quarterly report 1 July– 30 September 2020

Published

6 years ago

November 5, 2020

George Miller

Reading Time: 4 minutes

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

Compliance Updates

EvenBet Gaming obtains Danish B2B supplier licence

Published

28 minutes ago

May 13, 2026

Wladimir P.

evenbet-gaming-obtains-danish-b2b-supplier-licence

EvenBet Gaming, a leading developer of online poker and casino software, has secured a five-year B2B supplier licence from the Danish Gambling Authority (Spillemyndigheden), further strengthening its position across Europe’s most established jurisdictions.

The strategic move into the Danish market aligns with EvenBet’s mission to provide its global client base with seamless access to high-potential regulated jurisdictions. By securing this licence, the company enhances its ability to support both new and existing operators in diversifying their market reach through scalable, fully compliant gaming solutions.

The licence covers a comprehensive portfolio of products, including EvenBet’s industry-leading poker software, turnkey online casino platform, and extensive content catalogue comprising roulette, baccarat, blackjack, punto banco, bingo and slots.

The approval follows a rigorous assessment process covering RNG certification, platform security, and business procedures, reinforcing EvenBet’s ongoing commitment to compliance, integrity and player protection.

With the Danish iGaming market generating approximately DKK 11 billion (€1.47 billion) in gross gaming revenue during 2024, the licence represents a significant commercial opportunity for operators seeking long-term growth within a stable and highly profitable market.

By partnering with EvenBet, operators benefit from a streamlined route to regulated markets and gain access to the company’s world-class poker infrastructure and comprehensive casino suite. This enables them to diversify their offerings and engage high-value player segments within a secure and fully compliant framework.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “Securing our Danish B2B licence is another important milestone in EvenBet’s long-term strategy. Denmark has established itself as one of the most mature and well-regulated gaming markets in Europe, making it an extremely attractive jurisdiction for both suppliers and operators.

“This approval not only reflects the strength and reliability of our technology, but also allows us to support our existing and future partners with fully compliant access to a highly valuable market.”

The post EvenBet Gaming obtains Danish B2B supplier licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Alex Pratt

Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming

Published

28 minutes ago

May 13, 2026

Wladimir P.

edge-marketing-institute-launches-gam.e-marketing-leadership-programme-for-b2b-gaming

Online, on-demand course targets CMOs and senior marketers, with WorldGaming signed as exclusive media partner.

Edge Marketing Institute has launched in the gaming sector with its flagship programme, G.A.M.E (Gaming Advancement in Marketing Excellence), positioned by the company as a dedicated marketing leadership course for B2B gaming.

The company said the programme is designed to help senior marketers develop commercial leadership skills as businesses push marketing teams to contribute more directly to revenue and growth.

Founded by Paul Rees and Gerhard Sagat, Edge Marketing Institute said G.A.M.E consists of 10 senior-level modules covering strategic marketing leadership, positioning, product marketing, sales alignment, go-to-market execution, marketing measurement, brand strategy, and organisational influence.

Paul Rees, Co-Founder of Edge Marketing Institute, said: “Gaming has talented marketers throughout the industry, but too many have been forced to learn senior leadership on the job without structured development or exposure to broader marketing best practice.

“This isn’t a talent problem; it’s a structural one.

“We created Edge Marketing Institute and G.A.M.E to help marketing leaders operate with greater commercial clarity, confidence and influence, so marketing becomes a genuine driver of growth rather than simply a delivery function.”

The programme has launched with the support of WorldGaming as its exclusive media partner. Alex Pratt, Managing Director at WorldGaming, said: “As gaming continues to evolve, the role of marketing is becoming increasingly commercial and strategically important.

“Helping marketing leaders better align marketing with business growth, commercial objectives and long-term industry development is positive for the wider gaming ecosystem, which is why we’re pleased to support the launch of Edge Marketing Institute and G.A.M.E.”

The post Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BetBlocker

BetBlocker adds Syrian Arabic language support for gambling harm prevention

Published

28 minutes ago

May 13, 2026

Wladimir P.

betblocker-adds-syrian-arabic-language-support-for-gambling-harm-prevention

The charity says the rollout targets displaced Syrian communities across Europe as it works toward a partnership with a European regulatory agency.

Gambling harm prevention charity BetBlocker said today it has expanded its service to include support for Syrian Arabic speakers, aiming to improve access for displaced Syrian communities living across Europe.

The organisation said years of conflict have led to large Syrian diaspora communities across neighbouring countries and many European nations. BetBlocker added that immigrant communities can face higher risk of gambling harm, with religious, social, cultural and linguistic barriers reducing engagement with support services.

BetBlocker said the Syrian Arabic rollout was prioritised as part of work towards a partnership with a European regulatory agency, positioning it to support diaspora Syrian communities across Europe.

Founder and Trustee for BetBlocker, Duncan Garvie, said: “I’m always really happy when BetBlocker can line-up priorities for where our work for mature markets also facilitates us extending protections to populations that are under served. Our project to deliver Ukrainian as apart of the Improving Outcomes for Minority Communities fund via GambleAware in the UK was a great example of a project that met the needs of the UK funding system, while concurrently extending the support we could offer to an entirely new project.

This project offers similar opportunities. Where extending our support to Syrian Arabic both allows us to submit a more competitive tender to an EU regulator, whilst simultaneously expanding our support to a country/population that currently has very limited options for people experiencing gambling harm.

BetBlocker’s uptake in Syria is climbing rapidly at the moment, and this new launch should ensure that far more people who need support can access it.”

The post BetBlocker adds Syrian Arabic language support for gambling harm prevention appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.