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

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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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Navigating South Africa’s 2026 iGaming Shakeup

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Following a landmark Supreme Court of Appeal (SCA) ruling and aggressive new directives from the National Gambling Board (NGB), the South African online gambling landscape has experienced its most dramatic shift in a decade. With local bookmakers now strictly barred from offering fixed-odds bets on casino games like roulette, a widespread regulatory “grey area” has been abruptly closed off. For thousands of South African players, this means their go-to platforms are rapidly changing, leaving a wave of confusion in their wake.

In response to this severe market disruption, SouthAfricanCasinos.co.za, the country’s leading independent casino review portal, has released a comprehensive 2026 guide. This resource is designed to help players navigate the transition, identify secure offshore platforms, and safely test new digital environments without financial risk.

The End of the Sportsbook “Grey Area”

The October 2025 SCA ruling clarified that, under provincial gambling acts, it is strictly unlawful for sports betting operators to offer casino-style games disguised as fixed-odds contingencies. The NGB has since doubled down in early 2026, issuing formal notices to Provincial Licensing Authorities to clamp down on the use of Remote Gambling Servers (RGS) for unauthorised casino games.

“The days of playing roulette or blackjack on your local sports betting app are coming to a hard stop,” a spokesperson for SouthAfricanCasinos.co.za stated. “Regulators are actively cleaning house. While this ensures operators stick to their licensed verticals, it forces casino enthusiasts to seek out dedicated, internationally licensed platforms that cater securely to the South African market. Our priority right now is ensuring players don’t end up on rogue, unregulated sites out of desperation.”

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A Commitment to Player Security in 2026

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The post Navigating South Africa’s 2026 iGaming Shakeup appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Yaspa and Paysecure Launch Advanced Payments Intelligence for Payment Providers

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Paysecure, a top global payment orchestration platform, and Yaspa, a prominent fintech focused on payments and identity solutions, have announced a strategic partnership today to introduce genuine intelligence to the payments market.

Utilizing Paysecure’s AI-driven routing and comprehensive transaction analysis alongside Yaspa’s Smart Payments, operators can minimize fraud and enhance the payment experience for users through a single platform, helping to maintain and expand their customer base.

Yaspa’s Intelligent Payments represents the peak of payment processing innovation, combining immediate bank-to-bank transfers with real-time data insights. Utilizing open banking infrastructure, the solution enables companies to execute Pay by Bank transactions that settle immediately while also extracting profound insights from the user’s financial habits. Unlike conventional payment gateways that merely facilitate money transfer, Yaspa’s platform transforms each transaction into an opportunity for identity verification, assessment of financial health, and risk evaluation. By connecting real-time bank information with AI-driven analytics, the platform delivers an all-encompassing perspective on a customer’s financial status and legitimacy at the precise moment a transaction occurs.

Paysecure is an advanced payment orchestration platform that allows businesses to enhance each phase of the payment process using AI-driven smart routing, real-time insights, and worldwide connectivity. Its sophisticated data and intelligence features examine payment trends and performance, delivering actionable insights that assist merchants in customizing the payment experience, enhancing customer retention, and optimizing revenue opportunities.

This collaboration will utilize the shared data and insights from both solutions to provide more intelligent and efficient payment experiences. By becoming part of Paysecure’s ecosystem, Yaspa’s open banking and PSP solutions can be activated via a single integration, providing merchants with access to account-to-account payments and a worldwide marketplace of providers. Collectively, the solutions utilize AI-generated insights regarding spending trends, currency, offers, fraud, and performance, allowing merchants to protect the experience and optimize the potential of each transaction.

Yaspa’s Chief Revenue Officer, Justin Fraser, said: “This integration and partnership with Paysecure is a genuinely game-changing moment in the payments industry. Never before have operators had this level of intelligence and data from a third party payments solution at their fingertips. We look forward to working closely with the Paysecure team.”

Mike Peplow, Chief Operating Officer at Paysecure, said: “The intelligence data we collect drives our AI analysis enabling real time decisions on routing, payment method and fraud management. Working with Yaspa not only provides a best in class open banking, but delivers access to account information that further enhances our ability to optimise payment selection, actively lower transaction risk and personalise the end customer experience. The partnership with Yaspa unites two data driven platforms to proactively support merchants transform their customer journey, offer more payment choice and better manage the transaction workflow.”

Paysecure was recently honored as the best newcomer at the Card and Payment Awards 2026. This came after the recent declaration of Paysecure’s fivefold rise in the number of merchants utilizing its technology. Its orchestration platform currently links merchants to more than 500 PSPs/acquirers and various alternative payment methods globally.

Yaspa was recently recognized by Sifted as the fourth fastest-growing start-up in the UK and Ireland. In the past year, it won the Real-Time Payments Innovation award at the 2025 Payments Awards and was included in CB Insights’ Top 100 Fintechs, a worldwide list that highlights the most innovative and promising companies influencing the future of financial services.

The post Yaspa and Paysecure Launch Advanced Payments Intelligence for Payment Providers appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Central Register for Exclusion from Gambling

KSA Publishes Studies and Provides Guidance on the Duty of Care

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The Dutch Gambling Regulator (KSA) has published two studies and provided additional guidance on the fulfillment of the duty of care by online gambling licensees. The documents provide insight into practice and offer clarification on personal interviews and the submission of notifications for registration in the Central Register for Exclusion from Gambling (Cruks).

The KSA conducted research into these topics in 2025. The results were discussed in December 2025 during a roundtable discussion with license holders. During this discussion, practical experiences and bottlenecks were gathered. Based on this, the KSA has drawn up guidelines to provide more clarity regarding implementation.

Personal maintenance

The personal interview is a far-reaching intervention that license holders are required to implement when there is a suspicion of excessive gambling behaviour or gambling addiction. Research shows that license holders implement this differently and encounter bottlenecks, such as a low response rate from players. The guidance explains, among other things, the timing of the intervention, the form of contact and the content of the conversation. In doing so, room remains for customisation and professional judgment.

Notices

If a license holder observes serious signs of problematic gambling behaviour or suspects a gambling addiction, the player must be advised to register with Cruks. If the player does not follow this advice, the license holder must report this to the KSA (a notification). The KSA may subsequently decide to involuntarily register the player in Cruks.

The research shows that license holders apply this measure differently and that there are questions in practice regarding its implementation. For example, it is difficult for the license holder to verify whether a player has actually registered, and it is not always clear when a notification must be submitted.

The guidance provides practical explanation regarding this, including the timing of reporting and the information required.

Guidelines

The guidelines do not contain new rules, but provide further explanation regarding the application of existing obligations. This gives permit holders more clarity regarding the fulfillment of their duty of care.

The post KSA Publishes Studies and Provides Guidance on the Duty of Care appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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