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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.

Booming Games

Booming Games targets South American dominance with major investment, flagship partnerships and exclusive Ronaldinho content

Published

36 minutes ago

April 8, 2026

Wladimir P.

booming-games-targets-south-american-dominance-with-major-investment,-flagship-partnerships-and-exclusive-ronaldinho-content

Booming Games, the award-winning game development studio known for its entertainment-first approach and deep market reach, has announced a major strategic push into South America, targeting one of the world’s fastest-growing online gaming markets.

With the Latin American online gambling market projected to exceed $10 billion annually by 2030, growing at a CAGR of 11.9%, and Brazil’s fully regulated gambling launch in 2025, Booming Games is executing a multi-pronged strategy to establish market leadership across the continent.

Max Niehusen, Founder of Booming Games, said:
“Brazil is the market that will separate the leaders from the rest. Players demand relevance, entertainment, and connection — that’s where we excel. Our goal is to challenge the status quo, partner with top operators, and create experiences that truly resonate. Getting Brazil right sets the stage for global success.”

A Market-Defining Opportunity

South America represents a generational growth opportunity, with 440 million people, 84% internet penetration, and an estimated 100 million online casino players in Brazil alone. Booming Games is investing in high-value operator partnerships, specialist talent, and a fully localised content roadmap to dominate the region.

Strategic Operator Partnerships

Booming Games has secured collaborations with Betano, Betnacional, 7K Bet, Cassino Bet, Brazino, H2 Bet, Esportes da Sorte, Bet365, SportingBet, and SuperBet, ensuring broad market access while delivering tailored player experiences.

Its flagship Brazilian portfolio includes: Fortune Surge Series, Inferno Fortune Instastrike, Fortune Paw, 7 Fruits of Riches, and Monkey Charm, all designed for maximum accessibility, commercial impact, and customisable white-labelling. A growing range of instant games is scheduled for Q2.

Craig Asling, Director of Games, said:
“Brazil is more than a market — it’s a culture. Our games are built to connect deeply with players through localised storytelling, data-driven insights, and real player preferences.”

Exclusive Ronaldinho Content

A cornerstone of Booming Games’ South America strategy is an exclusive content partnership with football legend Ronaldinho, one of Brazil’s most iconic figures with 150 million global social media followers.

Building on prior successes like Ronaldinho Spins and Ronaldinho Scores: Shoot To Win, Booming Games is launching two major new titles:

Ronaldinho’s Streetball Bonanza – a 6×5 scatter-pay slot inspired by Brazilian street football, featuring the Street Skill Meter and continuous high-energy gameplay.
Bruxo da Sorte – a fast-paced 3×3 slot casting Ronaldinho as “The Wizard,” offering x10 multipliers and high-frequency wins.

Dan Paleu, COO of Booming Games, said:
“Ronaldinho bridges global appeal and local relevance. He’s instantly recognisable worldwide, yet deeply rooted in Brazilian culture, allowing us to create games that feel personal to players and commercially scalable.”

Platinum VIP Lounge at SiGMA BiS South America

At SiGMA BiS South America (6–9 April 2026, São Paulo), Booming Games will host the Platinum VIP Lounge, an immersive, custom-built space inspired by Ronaldinho’s Streetball Bonanza. The Lounge offers senior industry networking, premium hospitality, exclusive merchandise, and direct access to Booming Games’ leadership, highlighting bespoke partnership opportunities and next-generation content.

The post Booming Games targets South American dominance with major investment, flagship partnerships and exclusive Ronaldinho content appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Betfred

Betfred Enters into Partnership with BR-DGE

Published

36 minutes ago

April 8, 2026

Wladimir P.

betfred-enters-into-partnership-with-br-dge

BR-DGE, the independent payment orchestration provider, has partnered with Betfred, one of the UK and Ireland’s fastest-scaling betting operators, to support high-performance payments.

Betfred is using BR-DGE as its payment orchestration layer to manage both pay-ins and pay-outs through a single integration. Now live in the UK, with additional markets to follow later, the partnership is already delivering strong conversion rates, improved speed and resilience, as well as an enhanced player experience at the checkout. At the recent Cheltenham Gold Cup – Betfred’s most successful to date – BR-DGE processed over one million transactions as part of Betfred’s book, over the 4-day event.

As well as gaining simpler connectivity to multiple PSPs and payment methods (including cards, bank-to-bank payments and digital wallets) Betfred will also benefit from layered pre-and post-authorisation real-time fraud and identity decisioning, with a specialist partner integration via BR-DGE. This will support Betfred’s fraud prevention teams in keeping fraud levels in check, while maintaining smooth checkout process for genuine customers.

During major sporting events, when transaction volumes can spike dramatically, Betfred’s payments infrastructure can now scale effortlessly to meet demand — ensuring players experience no slowdowns or payment restrictions at the moments that matter most.

Betfred also benefits from flexible, independent control over deposit and withdrawal flows, with the ability to apply tailored routing logic. This gives them stronger performance, better cost management and greater reliability across every stage of the payment journey — without the operational complexity.

PCI-DSS scope has also been significantly reduced for Betfred. By using BR-DGE Vault, sensitive card data is captured and stored entirely outside of its own environment. This simplifies compliance obligations and unlocks the freedom to route network tokens across multiple providers — complete with built-in failover protection — delivering higher approval rates and a seamless cashier experience for players.

Jacob Spencer, Chief Revenue Officer at BR-DGE, said: “Betfred operates at real scale, particularly during major sporting events, when transaction volumes increase rapidly and payment performance is put under pressure. This partnership gives Betfred the ability to handle those spikes without slowing or restricting transactions, while providing the flexibility and confidence to support future growth and new payment requirements.”

Nick Cockerill, Group Chief Product Officer at Betfred, said: “From the Grand National to a Saturday afternoon football fixture, our customers expect betting to feel easy and trusted. That includes being able to pay and get paid their winnings without delay. Working with BR-DGE helps us support that experience during our busiest periods, so payments don’t get in the way of the bet. Our business can continue to expand at speed, with the confidence that our payments infrastructure is in safe hands.”

This partnership adds to BR-DGE’s growing presence within the gaming and gambling sector, where operators are increasingly adopting independent orchestration layers to support scale, enhance payment performance and deliver excellent customer experiences.

The post Betfred Enters into Partnership with BR-DGE appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BMM Innovation Group

BMM INNOVATION GROUP HIGHLIGHTS LEADERSHIP IN PRODUCT TESTING AND CERTIFICATION AT THE ITALIAN GAMING EXPO & CONFERENCE, APRIL 14–15 IN ROME

Published

36 minutes ago

April 8, 2026

Wladimir P.

bmm-innovation-group-highlights-leadership-in-product-testing-and-certification-at-the-italian-gaming-expo-&-conference,-april-14–15-in-rome

BMM Innovation Group (“BMM,” “The BIG Group,” “BIG,” or “the Company”), a global provider of compliance testing, cybersecurity, and training solutions for the regulated gaming industry, has announced its participation as both an exhibitor and sponsor at the Italian Gaming Expo & Conference, taking place April 14–15 at the Salone delle Fontane, Stand No. 3. This presence underscores BMM’s ongoing commitment to supporting Italy’s regulated gaming market.

The Company is also shortlisted for two prestigious Italian Gaming Awards: the “Do the Right Thing” Award and “Best Executive Leadership” for Marzia Turrini, BMM’s Global President of iGaming & Cybersecurity. These nominations reflect BMM’s continued leadership in integrity, compliance, and innovation across regulated gaming markets worldwide.

At the Expo, BMM will showcase its comprehensive suite of services through:

BMM Testlabs – trusted testing and certification for suppliers, operators, and regulators.
BIG Cyber – advanced cybersecurity protection.
RG24seven Virtual Training – compliance-grade, BMM-certified employee education.

Marzia Turrini will also take part as a featured panelist on April 15:

Women Empowerment in Gaming: Leadership, Skills and the Future of the Industry (11:05–11:50)
Exploring the growing role of women in leadership and how new skills and perspectives drive a more innovative and inclusive gaming industry.
Digital Transformation in Gaming: From Compliance to Growth (12:00–12:45)
Examining how technology, compliance strategy, and modern operating models help gaming companies enhance performance and accelerate growth in regulated markets.

Turrini commented:
“We’re thrilled to support the Italian Gaming Expo and one of Europe’s most important regulated markets. With our office and test lab in Bologna, BMM helps safeguard and grow the industry through trusted testing and certification that enables faster time to market while maintaining the highest compliance and security standards. Our cybersecurity and training solutions empower organizations to innovate confidently in Italy.”

BMM Testlabs provides certification across Italy’s gaming ecosystem, including:

Land-based AWP and VLT machines and systems
Retail sports betting and horse racing platforms
Lotteries and instant gaming
Online casino, sports betting, and wagering technologies
Skill games with prizes

Combined with BIG Cyber’s cybersecurity services and RG24seven Virtual Training’s expert-led programs, BMM delivers a complete compliance and security solution, helping organizations meet regulatory requirements, enhance readiness, and build knowledgeable teams across Italy’s regulated gaming sector.

Expo attendees are invited to visit Stand No. 3 to learn how BMM continues to support Italy’s gaming industry with global expertise, local insight, and trusted compliance leadership.

The post BMM INNOVATION GROUP HIGHLIGHTS LEADERSHIP IN PRODUCT TESTING AND CERTIFICATION AT THE ITALIAN GAMING EXPO & CONFERENCE, APRIL 14–15 IN ROME appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.