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LeoVegas AB Q4: Year-end report 2020
“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.
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Amusnet
Amusnet Wins “Best Software Provider” Award at the AskGamblers Awards 2026
Amusnet, a leading international provider of advanced casino solutions, has won the prestigious Best Software Provider title at the 9th edition of AskGamblers Awards 2026. Hosted at the St. Regis Belgrade, the gala ceremony brought together top-tier industry players in the Serbian capital to honour standout achievements. This accolade arrives at a momentous milestone for Amusnet, marking a decade defined by continuous growth, technological evolution and commercial success.
Dejan Vukosavljević, Country Director at Amusnet Serbia, attended the high-profile event as the company’s official representative to accept the accolade.
“This award validates the team’s dedication to our software platform and inspires us to further raise our standards of quality and product excellence. Securing this title is a fantastic achievement and a true honour, especially given our strategic partnership with AskGamblers. As we celebrate Amusnet’s 10th anniversary, our focus remains on global uniqueness, with the ambitious goal of expanding our footprint to more than 100 markets worldwide over the next ten years,” stated Vukosavljević.
As one of the industry’s premier affiliate platforms for casino reviews, boasting a vibrant community of over 1,000,000 active players, AskGamblers has been a key partner for Amusnet since the beginning of the year. Receiving this recognition from such a player-centric platform underscores Amusnet’s strong market resonance and deepening industry ties.
By combining technological innovation with creative excellence, the company is actively shaping the future of digital entertainment. This milestone ensures that Amusnet’s localised, high-performing content continues to captivate and engage audiences on a truly global scale.
The post Amusnet Wins “Best Software Provider” Award at the AskGamblers Awards 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Artificial intelligence
QCI Launches QCI Resorts, the Unified Intelligence Platform for Resorts
Quick Custom Intelligence (QCI), a leading provider of gaming and hospitality technology, announced the launch of QCI Resorts, a unified intelligence platform designed specifically for modern resort operations.
For decades, the resort industry has pursued a vision of operational unification through integrations, data warehouses, and interconnected software systems. While these approaches connected information across departments, they also created increasing complexity, duplicated data, delayed decision-making, and limited the ability of organizations to fully leverage artificial intelligence.
Built on the QCI AGI Platform, QCI Resorts delivers a single operational environment where hospitality, food and beverage, point-of-sale, marketing, loyalty, guest engagement, operations, and enterprise intelligence operate from one unified intelligence layer. Rather than moving information between disconnected applications, QCI Resorts enables resort operations to function within a shared real-time platform designed for intelligence-driven decision making.
The launch marks a significant milestone in QCI’s vision for the future of resort technology—one where unified operational intelligence replaces fragmented software stacks and where agentic systems can operate with a complete understanding of the enterprise.
“After more than two decades building data warehouses and integration platforms, generative AI enabled for another approach. Instead of connecting more systems together, we can now deliver most resort operations through a single real-time software stack. Gaming remains integrated where regulations require it, but hospitality, marketing, loyalty, food and beverage, operations, and intelligence can operate from a unified platform. That foundation is what makes true agentic resort operations possible,” said Andrew Cardno, Co-Founder and CTO of QCI.
Unlike traditional resort technology architectures that rely on multiple vendors, extensive integrations, and centralized data warehouses, QCI Resorts operates from a shared data model, shared workflow architecture, and shared intelligence layer. This approach enables real-time operational intelligence across the enterprise while providing the foundation required for AI agents to understand, coordinate, and execute actions across resort operations.
“QCI Resorts is not another integration platform. For decades, the industry has pursued the vision of a unified resort platform. The goal was right, but the technology wasn’t ready. Today, advances in AI and agentic systems make it possible to deliver what operators have always wanted: a single real-time operational system where hospitality, marketing, loyalty, food and beverage, operations, and intelligence work together as one, with gaming integrated where regulations require. QCI Resorts is that system,” said Ralph Thomas, Co-Founder and CEO of QCI.
As artificial intelligence continues to reshape the hospitality industry, QCI believes the next generation of resort technology will not be defined by how many systems can be integrated together, but by how effectively intelligence can operate across the entire enterprise.
“Agentic AI achieves its greatest potential when it operates within a complete understanding of the business. The future belongs to systems that can understand the entire resort, not just individual departments. That is the vision behind QCI Resorts,” added Cardno.
QCI Resorts is being introduced as the industry’s first unified intelligence platform purpose-built for gaming and hospitality operations, enabling operators to move beyond fragmented architecture toward a real-time operational intelligence model designed for the era of agentic AI.
The post QCI Launches QCI Resorts, the Unified Intelligence Platform for Resorts appeared first on Americas iGaming & Sports Betting News.
Best Bets TV
VSiN Launches 24/7 FAST Channel, Best Bets TV, Introducing Award-winning Content to New Broadcast and Streaming Audiences
VSiN, The Sports Betting Network, announced the launch of its new Free Ad-Supported TV (FAST) channel, Best Bets TV, powered by VSiN to reach more sports fans. Leveraging podcast and live content from across VSiN’s platforms, the new 24/7 channel delivers actionable sports betting content to a broader audience — combining highlights from its live linear programming, original analysis, and video podcasts in a free streaming format.
Best Bets TV provides broadcast and streaming services access to the full 24/7 channel or blocks of programming that can be integrated into daily schedules. The full 24/7 Best Bets TV channel is currently streamed exclusively on the OrkaTV platform within its sports category now streaming on Roku, Fire TV, Google Play, Android OS, tv.orka.tv, and coming soon on all Smart TV platforms.
“VSiN programming for Best Bets TV is a unique offering in FAST, with specially curated clips and three hours of live programming each weekday. As viewers increasingly turn to streaming for live television, Best Bets TV represents the kind of dynamic content that we’re focused on bringing to the OrkaTV platform. In partnership with VSiN, we’re creating a compelling destination for sports fans who want insight, analysis, and live coverage throughout the day,” said Mike Woods, Founder and CEO of OrkaTV.
In addition to the exclusive launch of its 24/7 channel on OrkaTV, select Best Bets TV sports betting content airs on Anthem’s Game+, available across North America through major IPTV, cable, and satellite systems, as well as Marquee Sports Network, available directly and via providers like Hulu+ Live TV, FuboTV, DIRECTV and various cable providers.
“VSiN continues to grow its distribution footprint across every major platform to reach more sports fans in more ways with its award-winning sports betting content. With the launch of Best Bets TV, we have an incredible opportunity to introduce VSiN content to millions of new viewers, while leveraging some of the content we’re already creating. We expect to continue this rapid expansion to make sports betting information accessible to every fan, by providing the credible insights, expert commentary, and entertainment that make VSiN the leading voice in sports betting,” said Miles Gwyn, chief operating officer at VsiN.
The launch of Best Bets TV leverages VSiN’s daily output of more sports betting content than there are hours in a day and underscores the network’s commitment to delivering credible, high-quality sports betting programming wherever and however fans consume it. The new channel curates the most timely, engaging, and informative segments to give millions of new sports fans access to the network’s programming on free-to-watch platforms.
The new channel taps a mix of AI clipping through a partnership with TVU Networks and manual clipping to generate more than 150 new video clips each day. The network’s partnership with Zype for content organization and management enables deep content customization through rich metadata. VSiN’s Amagi collaboration uses metadata to build shows with dynamic themes and content, while prioritizing the most recent clips. This first-of-its-kind system helps VSiN curate content to deliver the most relevant and timely programming to sports fans everywhere.
Programming on Best Bets TV draws from VSiN’s leading podcasts, including “The GM Shuffle,” “Fade Us Sports,” “The College Football Betting Podcast,” and “Pod to the Futures,” alongside up to three hours of live content daily such as “VSiNLive on Mad Dog Radio,” which simulcasts weekdays on SiriusXM. The channel also features clips from VSiN’s live linear shows, packaging key betting insights, expert analysis, and daily highlights in new ways to help fans make more informed wagering decisions.
The post VSiN Launches 24/7 FAST Channel, Best Bets TV, Introducing Award-winning Content to New Broadcast and Streaming Audiences appeared first on Americas iGaming & Sports Betting News.
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