Latest News

LeoVegas AB Q4: Year-end report 2020

Published

5 years ago

February 11, 2021

George Miller

Reading Time: 4 minutes

“Yet another record year for LeoVegas with a strong close” – Gustaf Hagman, Group CEO

fourth quarter 2020: 1 october–31 december

Revenue increased by 13% to EUR 98.4 m (87.1). Organic growth in local currencies was 14%.
Adjusted EBITDA was EUR 11.5 m (9.2), corresponding to an adjusted EBITDA margin of 11.7% (10.6%). Reported EBITDA includes EUR -3.5 m (5.3) in items affecting comparability.
The number of depositing customers was 461,983 (372,032), an increase of 24%.
Adjusted earnings per share were EUR 0.08 (0.06).

Events during the quarter

LeoVegas was the first company in the gaming industry to offer payments via Open Banking.
During the quarter the Group’s unique and record-large jackpot was launched under the name LeoJackPot.
LeoVegas secured long-term and diversified financing through a combination of a bank credit facility (RCF of EUR 40 m) and a bond issue of SEK 500 m under a total framework of SEK 800 m.
During the quarter, LeoVegas repurchased its own shares for approximately EUR 5 million.
Ahead of the forthcoming regulation in Germany, a number of changes were implemented. This led to lower revenue during the quarter, with the greatest effect during the month of December.
LeoVegas has changed its interpretation of the calculation of gaming taxes in Denmark for earlier periods. This resulted in a self-correction, and a one-off cost of EUR 3.5 m has been charged against EBITDA.
Decision has been taken to migrate the Royal Panda brand to the Group’s proprietary technical platform.

Events after the end of the quarter

Preliminary revenue in January amounted to EUR 32.5 m (29.9), representing growth of 9%.
The Board of Directors proposes a raised dividend totalling SEK 1.60 per share (1.40), an increase of 14%, to be paid out on four occasions during the year.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

STRONG CLOSE TO 2020
LeoVegas concluded the record year 2020 with its strongest fourth quarter ever. And we did this despite frequent changes to the gaming requirements in our markets in addition to finding ourselves in the midst of a global pandemic. I am proud of our ability to quickly adapt to changed conditions through a high capacity for innovation at the same time as we are building an increasingly solid and diversified business. It is a demonstration of strength that LeoVegas delivered adjusted EBITDA growth of 25% for the full year while the operating cash flow increased almost 90 %. This was achieved despite maintaining a high investment pace with launches of new brands, new markets and product improvements.

During the fourth quarter we increased our revenue organically by 14%. Growth was mainly driven by a continued rise in depositing customers, which grew 24% to a new record level. Adjusted EBITDA increased by 25% during the quarter to EUR 11.5 m. Reported EBITDA was charged with a one-off provision of EUR 3.5 m related to a changed interpretation of the calculation of gaming taxes in Denmark for earlier periods.

MarkETS
With the exceptions of Sweden and the UK, our core markets showed high double-digit growth during the quarter. Above all I want to highlight Italy, which has now become one of our five biggest markets. During the quarter we launched the Pink Casino brand in Canada. The launch is part of our multibrand strategy, where we are utilising existing resources and our technical platform to expand through scale.

In the German market, LeoVegas has implemented a number of changes ahead of the forthcoming licence system in July 2021. As expected, this affected revenue during the period. Operators in the market are acting differently with respect to the new restrictions, and at present necessary clarity is lacking in the ongoing transitional period, which unfortunately has led to a skewed competitive situation until the licence system has been fully implemented.

TECHNOLOGY AND PRODUCTS
During the quarter we carried out and launched several major projects and innovations. In particular I want to highlight our new exclusive jackpot – LeoJackpot – where our customers can win over SEK 50 m directly from their smartphones. We were also first in the industry to offer payments via Open Banking. This will benefit LeoVegas and our customers in many ways, including through more secure and faster payments and lower transaction costs.

During the quarter we began the migration of Royal Panda to our joint technical platform. As a result, in 2021 all brands will be operated on the same platform. The migration will lead to cost synergies such as lower platform and product costs and a more efficient organisation. The decision has also resulted in impairment of intangible assets attributable to Royal Panda’s platform, which was charged against EBIT in the amount of EUR 1.9 m.

FINANCING AND INVESTMENTS
At the end of the year we secured the Group’s long-term financing needs through the combination of a renewed bank credit facility of EUR 40 m and a newly issued corporate bond of SEK 500 m.

Stable financing combined with a strong balance sheet gives us a solid base for continued expansion, both through organic initiatives and potential acquisitions. During the fourth quarter we carried out share repurchases for approximately EUR 5 m. In addition, the Board of Directors proposes an increase in the dividend to SEK 1.60 per share.

COMMENTS ON FOURTH QUARTER
Revenue for the month of January amounted to EUR 32.5 m (29.9), corresponding to annual growth of 9%. In January revenue was fully impacted by the changes carried out in Germany ahead of the forthcoming regulation.

On the tailwinds of a strong 2020 we are now looking forward to a year with many exciting growth initiatives and an even stronger customer offering.

Affiliate Succes

Hiring Blitz Expands Quantum Affiliate’s Staff By 10%

Published

1 hour ago

February 18, 2026

Wladimir P.

hiring-blitz-expands-quantum-affiliate’s-staff-by-10%

The UK-based affiliate is expanding its marketing and commercial teams by hiring six new staff members, while there are still five positions to be filled.

Power affiliate Quantum (previously QiH Group) has experienced significant expansion in the initial two months of 2026, hiring six new staff members for its commercial and marketing teams since December.

First on the list is Shannon Walsh, who enters the swiftly expanding commercial department as a partnerships manager.

Dimi Papamichael, speaking about the stellar growth of his team, said: “From day one, I’ve felt a huge amount of backing and belief in what we’re building here at Quantum – and that’s already turning into real momentum. We’ve recently hired a couple of great people to join our growing commercial team, and we’re not stopping there – with a few more hires lined up in the next couple of months.

“It’s a clear sign of where we’re heading, and there’s a real energy around the business right now. With big plans for this year, we’re continuing to invest in the commercial team to make sure we’ve got the right people in place to move quickly on the opportunities ahead. I’m excited to be building such an ambitious and talented team as we head into a big 2026, and I’m looking forward to what we can achieve together.”

The marketing team, headed by Luke Watkin, is proud to welcome:

Cameron Harris, Marketing Specialist
Caitlin McIntyre, Affiliate Sales Lead
Caroline Millington, Affiliate Account Manager
Ariadni Argyropoulou, paid social specialist
Gabriela Profir, performance marketing lead

Luke Watkin, director of marketing for Quantum, said: “As a leader I’ve found it to be extremely energising having the backing, the investment, and the ambition within the business to be able to recruit top marketing talent in a number of key positions in recent months. In a short space of time we have really levelled up the quality of our team, and this is already paying dividends both in terms of how we are working, but also (and most importantly) in the form of results. I am excited to continue doing what I love, which is building brilliant teams.”

In addition to the six roles, Quantum is also seeking to fill roles for:

head of sales
senior business development manager
paid social lead and
sales ops executive

HR Director for Quantum, Andrea Talreja, shared: “It’s a time of exceptional growth for Quantum, which is exciting and rewarding. We’re seeking not only the roles listed here, but quite a few more in 2026, so if you’re a tech or performance marketing professional – whether from iGaming or other sectors – please get in touch!”

The post Hiring Blitz Expands Quantum Affiliate’s Staff By 10% appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

CasinoCanada

CasinoCanada announces new partnership with MelBet

Published

2 hours ago

February 18, 2026

Wladimir P.

casinocanada-announces-new-partnership-with-melbet

CasinoCanada has announced a strategic partnership with MelBet, the international betting and gaming operator, aimed at expanding the brand’s footprint in Canada through dedicated content and brand representation on CasinoCanada’s digital platforms.

Under the agreement, CasinoCanada.com will produce detailed reviews and SEO-focused content tailored to Canadian audiences. The partnership is designed to provide users with clear, transparent information about MelBet’s products and services, while enhancing the operator’s visibility in Canada and driving traffic to the MelBet website.

CasinoCanada is operated by SEOBROTHERS, and Eugene Ravdin, Head of PR, said:

“MelBet operates across multiple international markets and has established a consistent presence in the iGaming industry. Through CasinoCanada, we will focus on delivering clear, data-based content tailored to users in Canada and quality traffic to the MelBet website. This partnership is structured around transparent communication and long-term cooperation.”

MelBet offers daily betting on over 1,000 events across sports and esports, alongside a wide range of slots from more than 120 global providers. The brand has earned multiple accolades, including Best Online Gambling Operator (EVENTUS 2023), Best Affiliate Program (SiGMA Africa Awards 2024), and Live Casino of the Year (AffPapa iGaming Awards 2024).

The operator’s high-profile sports partnerships feature legends such as Andrés Iniesta, Didier Drogba, and Kamaru Usman. In October 2025, MelBet extended its agreement as Juventus’ official betting partner in MENA and Africa, while Spanish La Liga and professional Dota 2 organisation OG Esports further enhance its global portfolio.

Anastasiia Shcherbyna, CMO at MelBet Affiliates, commented:

“Working with CasinoCanada has been smooth and efficient. They understand the specifics of our brand, communicate clearly, and consistently deliver on their commitments. We appreciate their professional approach and see strong potential for long-term cooperation.”

This collaboration positions MelBet for sustained growth in Canada, leveraging CasinoCanada’s content expertise and digital reach to strengthen brand awareness and user engagement.

The post CasinoCanada announces new partnership with MelBet appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Barbara Bang

QTech Games Amplifies Action Through Barbara Bang Integration

Published

2 hours ago

February 18, 2026

Wladimir P.

qtech-games-amplifies-action-through-barbara-bang-integration

Emerging-markets leader enhances its content selection with new games from a rising contender.

QTech Games, the premier game aggregator for emerging markets, has sustained its robust momentum in its pipeline, owing to its recent agreement with promising studio, Barbara Bang, a slots provider recognized for its unique method of game development and a customized approach to discovering localized solutions for various markets.

Incorporating an outstanding portfolio from a highly unique and innovative digital slots supplier further enhances QTech Games’ expanding platform, which is bringing a diverse selection of online games to emerging markets, featuring well-known brands alongside the industry’s most thrilling new providers.

The games offered to QTech partners through this agreement are crypto-friendly and include popular titles and new releases like Sky Rail Riches, Juicy Fruits, Sunshine Rich, and Chieftain Buffalo. Each utilizes distinct maths modeling that alters the volatility spectrum, contributing to an engaging gaming experience.

Philip Doftvik, QTech Games’ CEO, said: “We’re committed to rolling out first-class content that drives revenue for our partners. So, this deal with Barbara Bang extends our impressive sequential pipeline – and we’ve so much more to come in 2026! In today’s marketplace, only high-quality games offering something different separate you from the rabble, so we’re delighted to see how Barbara Bang is fulfilling this demand. Their dedication to data-driven content development, coupled with an acute focus on even the most specific player-centric details, matches up neatly with QTech’s own localisation techniques across emerging markets.

George Dias, Partnership Manager of Barbara Bang, added: “Barbara Bang prides itself on our ever-expanding production line of titles which provide unique and head-turning experiences in an increasingly homogenised space. And we’ve found QTech to be a natural habitat for embracing such content, and delivering it to new audiences. Founded with the goal of bridging the gap between players and gaming platforms, Barbara Bang is now acquiring progressive recognition in the iGaming market, thanks to this deal with the top aggregator QTech Games.

“We’re confident that this partnership will allow us to seamlessly broaden the scope of our slots for fresh audiences across emerging markets. It’s a significant step for Barbara Bang in enlarging our global footprint.”

The post QTech Games Amplifies Action Through Barbara Bang Integration appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.