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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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Week 46/2025 slot games releases
Reading Time: 6 minutes
Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has expanded its Demi Gods Series with the launch of its epic new title, Majestic Atlas. Set high above the clouds, Majestic Atlas is a 5×3 game that’s framed within a grand celestial temple inspired by the beauty of ancient Greece. A powerful, atmospheric musical score evokes the might of Atlas and lifts the entertainment to new heights.

GAMOMAT has continued the sweet life of the beloved La Dolce Vita with the highly-anticipated La Dolce Vita 2. This new title picks up the love affair of the original with fresh gameplay, engaging features, and a beautiful new Italian location. Charming Giovanni returns to take centre stage within the bustling Italian village marketplace, where a heartfelt soundtrack creates a joyful atmosphere.

Amusnet has released its latest video slot, Ancient Coins. This captivating release transports players deep into the heart of the jungle, where adventure and ancient treasures meet across 5 reels and 25 fixed paylines. Rich with colour, atmosphere and detail, Ancient Coins is designed for those who seek excitement in every moment of their gameplay.

Promatic has released Apollo’s Garden of Riches – a new 5×3 slot game that combines elegant design, rewarding gameplay and a heartfelt connection to the company’s roots in the Karkonosze Mountains. The Karkonosze region – where Promatic was founded and continues to draw inspiration – is a place of amazing landscapes, legends and rare species.

PG Soft has released its uplifting game, Skylight Wonders. This game welcomes players aboard a hot air balloon traversing across a dreamlike world high above the clouds. There are increasing multipliers and three reel frames that transform winning symbols into Wild symbols.

Amusnet has released its new video slot game, 40 Mystic Gem. This gem-inspired title is set to light up the reels with brilliance, blending vibrant fruit symbols and radiant jewels in a game that captures both style and excitement. Featuring 5 reels and 40 fixed paylines, 40 Mystic Gem brings together a sparkling mix of modern design and timeless gameplay.

Evoplay has released Piggy Bank 3 Pots Bonanza, a vibrant and joyful slot where players can crack the safe for generous wins. With the inclusion of the popular 3 Pots mechanic and several thrilling features, the 5×3, 20-line game offers a colourful world of gold bars, diamonds, and the three titular Piggy Banks for an action-packed adventure.

Tom Horn Gaming invites players to step into a world of emerald fields, leprechauns, and hidden treasures with its latest release, 3 Ribbon Pots. Launched on 11 November, this fast-paced slot delivers a new take on the popular Hold&Win mechanic, adding depth, variety, and smoother gameplay.

SlotMatrix is bringing the fire with the launch of Hula Moolah, an explosive new slot from Powderkeg Studios. Set in a tropical paradise where Tiki gods rule and volcanoes erupt, Hula Moolah turns every spin into a molten-hot chance to win. The game’s centrepiece is the Hold & Spin Feature, ignited when the vibrant Tiki Wilds leap into the volcano.

Reflex Gaming is turning up the heat once again with the launch of 8 Balls of Fire Blazing Bounty, a thrilling sequel to one of the company’s most popular titles. The original 8 Balls of Fire became a breakout hit across multiple channels, and this follow-up brings even more action, jackpots and explosive potential to the reels.

BGaming summons a mystical cat-genie to help players’ wishes come true in the brand-new Golden Paw Hold & Win slot. Golden Paw Hold & Win provides a fresh perspective on the classic Hold and Win gameplay mechanic. The game boasts 1,024 ways to win on every spin, with a variety of five exciting progressive bonus rounds, expanding reels, and a mesmerising leading character.

Inspired Entertainment, Inc. is pleased to announce the launch of Cops ‘n’ Robbers Bigger Big Money Christmas
developed by Inspired’s Bell-Fruit game studio. Set on a 3×5 reel set with 10-win lines, Cops ‘n’ Robbers Bigger Big Money Christmas is packed with thrilling features.

Inspired Entertainment, Inc., has launched Gold Cash Free Spins Super Wheel
, a supercharged evolution of Inspired’s classic hit slot, Gold Cash Free Spins
. Available across the UK and Malta iGaming markets.

Thunderkick has launched Pink Elephants Trinity, the third instalment of its mystical franchise, where six bonus game levels unveil a journey towards deep synesthetic immersion. The Swedish supplier has traded the desert landscape and starry sky for an ethereal jungle backdrop, where a tribe of monkeys gather around the Pink Flame for a ritual honouring the Pink Elephants.

Belatra has proudly released Slattors Battle – Orcs vs Elves, a slots saga that puts the fate of the world in players’ hands. Inspired by an ancient rivalry between the radiant Elven kingdoms and the fearsome Orc hordes, Slattors Battle – Orcs vs Elves unfolds on a 5×5 reels battlefield.

Play’n GO presents Rings of Prosperity, a slot rooted in ancient mysticism and the power of celestial guidance. Play’n GO’s Rings of Prosperity draws on the influence of Eastern mythology, placing players under the protection of the Dragon God – a symbol of strength and abundance.

Just Slots, has announced the release of its latest slot title, Book of Abyss. In this dark fantasy adventure, players descend into the realm of Abyss, a fallen queen demoness bound to a cursed diary. Every spin of the reels echoes Abyss’s torment, and when the mystical Book feature opens, players peer into forbidden chapters of her soul.

Playson ups the ante in its electric new release, More Energy Coins: Hold and Win, with an enlarged 5×4 reelset, special Collect Feature and 10,000x Royal Jackpot supercharging the excitement on offer. Inspired by Playson’s data-proven mechanics, the game’s starring Energy Bonus symbol unlocks the Collect Feature if it combines with any Bonus Symbol.

Blueprint Gaming
has turned up the heat in its latest release, Lava Lock Jackpot King
, with the sweltering title leading with a new Volcano feature and a host of refreshed modifiers for an enriched gameplay experience. Pele, the goddess of volcanoes, takes centre stage in the 5×3, 30 payline slot.

Gallop into Big Wins with Mustang Hold and Win from Booming Games! Step into the wild and untamed world of Mustang Hold and Win, where the free-spirited mustangs rule the reels. With a 5×3 grid and 25 paylines, this slot delivers an exhilarating experience with stunning visuals of the American wilderness.

BGaming boldly goes where no slot studio has gone before with the release of Star Trek
: The Next Generation. The slot honours the legacy of the show, beaming players into a new dimension with an entertainment-first approach that will please Star Trek
fans and newcomers alike.

The post Week 46/2025 slot games releases appeared first on European Gaming Industry News.
Asia
SA Gaming partners with EGT Digital to offer extraordinary gaming experiences
Reading Time: < 1 minute
SA Gaming is delighted to announce our new partner, EGT Digital, one of the largest gaming platforms in Europe. This agreement will see our games available on EGT Digital’s platform.
This collaboration marks an important milestone for both of us as it enhances our brand visibility and allows us to reach a broader audience. This alliance is also bringing elevated gaming experience to players on the platform of EGT Digital.
As one of the fastest-growing brands in Europe, EGT Digital has an extensive network and a comprehensive product portfolio that attract a diverse player base from numerous markets around the world. As players of EGT Digital now have access to our wide range of Live Games, which are certain to attract players – this new partnership certainly fulfills the business objectives of both EGT Digital and SA Gaming.
EGT Digital’s spokesperson commented, “For us at EGT Digital, the priority number 1 is always to give our customers the best gaming experience. That is why we are very pleased to have the opportunity to offer them SA Gaming’s titles, standing out with great thematic diversity, highly engaging mechanics and captivating bonuses. We believe that this partnership will both enrich our platform and enhance the game developer’s reach, while providing players with access to the high-quality gaming content they are looking for.”
As we continue to provide top-notch entertainment, this agreement creates new room for both of us to grow and flourish. We are eager to embark on this journey together and look forward to the infinite possibilities that would deliver exceptional value to all players.
The post SA Gaming partners with EGT Digital to offer extraordinary gaming experiences appeared first on European Gaming Industry News.
Anti-Fraud Innovation of the Year
Frogo Wins “Anti-Fraud Innovation of the Year” at SiGMA Central Europe 2025
Reading Time: < 1 minute
Frogo has won the “Anti-Fraud Innovation of the Year” award at the SiGMA Central Europe B2B Awards 2025. The award recognizes companies that are redefining how businesses approach risk, security and operational transparency.
Unlike traditional systems focused on blocking individual cases of fraud, Frogo’s approach is built around strategic prevention and real-time decision support. The platform helps businesses to understand their data, predict potential risks and act before losses occur. It combines artificial intelligence, behavioral analytics, graph-based forensics and – most importantly – deep industry expertise in a single environment that enables teams to identify fraud patterns and adapt instantly to changing traffic or threat dynamics.
“We’ve always seen fraud prevention as more than a reactive process,” said Volodymyr Todurov, CEO at Frogo. “Our goal is to help companies think strategically about risk, to build systems that recognize patterns, not just red flags. That’s what makes prevention sustainable.”
The SiGMA jury highlighted Frogo’s ability to balance automation with flexibility, allowing companies across sectors such as iGaming, fintech and e-commerce to maintain both security and user trust. Businesses using Frogo can automate complex fraud checks, reduce operational noise and focus on making informed, timely decisions rather than manual investigations.
The post Frogo Wins “Anti-Fraud Innovation of the Year” at SiGMA Central Europe 2025 appeared first on European Gaming Industry News.
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