Connect with us

Latest News

LeoVegas AB Q4: Year-end report 2020

Published

on

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.

Powered by WPeMatico

Continue Reading
Advertisement

Digitain

Digitain Nominated for iGaming Platform Provider Category at the Italian Gaming Awards 2026

Published

on

digitain-nominated-for-igaming-platform-provider-category-at-the-italian-gaming-awards-2026

Digitain has announced that it has been shortlisted in the iGaming Platform Provider category at the Italian Gaming Awards 2026, one of the industry’s most recognised platforms that celebrates excellence, innovation and impact.

Set against the backdrop of Rome, the IGA brings together industry leaders for a dedicated evening focused in performance, progress and partnership. The event praises platforms and product innovations, payment solutions, marketing and data intelligence, as well as compliance and certification.

Tying all of the above is Digitain’s platform, with a nomination that reinforces a clear direction: building technology that delivers tangible operator value. Designed to achieve clarity, speed and results, it includes a rich portfolio of products and services that cater the most demanding operator needs, both excelling and setting new standards in the iGaming industry.

“For us, this nomination is another step forward in strengthening our position as a trusted partner for ambitious operators, with a platform that performs where it matters most,” the Company said.

The post Digitain Nominated for iGaming Platform Provider Category at the Italian Gaming Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Latest News

QTech Games Introduces Multi-Sportsbook Integration for Aggregation Platform

Published

on

qtech-games-introduces-multi-sportsbook-integration-for-aggregation-platform

Emerging-markets leader expands its offerings with an international sportsbook plan as the 2026 World Cup approaches.

QTech Games, the top game aggregator for emerging markets, has revealed the launch of a multi-sportsbook strategy coinciding with the significant 2026 sporting calendar, led by the FIFA World Cup soccer, which will serve as a major acquisition and retention catalyst for its clients in the emerging markets of Africa and Latin America, where football reigns supreme.

This week, Song88, an emerging sportsbook, leads the launch of multiple sports-betting platform integrations, captivating the Far East with an extensive array of sports and exciting markets offered both before and during events. The suggested range of highly adaptable sportsbook options indicates QTech’s strategic growth and consolidation in promising new markets where the cross-selling potential between sports betting and igaming is still mostly unexploited.

Song88 has swiftly gained popularity as a sportsbook, having been specifically designed for the preferences and needs of customers in developing markets. This innovative sportsbook operates on advanced pricing models and data streams – enabling users to experience dynamic and responsive in-play odds right until the final moment of a game, featuring competitive pricing across all sports. This service has come at the ideal moment for next year’s amazing sports calendar – featuring the FIFA World Cup, NBA basketball, and ATP Tennis – and can also be customized for local markets and specialized sports.

Philip Doftvik, QTech Games’ CEO, said: “We’re excited to finally be able to offer a sportsbook in our product portfolio. It will support our continued growth and we are really looking forward to finally being able to deliver to clients who have long been keen to take the sports-betting component from us. It’s a natural step for us as a pioneering aggregator across emerging markets to be able to offer more in the value chain, and this localised versatility will give our partners a competitive edge. We are also very happy to partner up with Song88 with their strong product and talented team.

“To which end, over the coming months, we will reveal a roster of several other renowned sportsbooks, handpicked by QTech in order to allow our clients to choose and refine what is most suitable for them. A handful of suppliers with complementary strengths is the perfect model for optionality and flexibility on a worldwide stage, since every operator will have their own USPs, local market adaptions, or specific managed trading requirements. And the timing couldn’t be better with the World Cup coming up fast!”

Magnus Karlsson, CEO at Song88, added: “Song88’s is fast-becoming a favourite among new sportsbooks, having been developed from the ground up with local customers in mind. Now, with QTech’s expert stewardship and reach, we can take it to more territories across global emerging markets, especially given next year’s spectacular sporting schedule which revolves around massive events in football, basketball, baseball and tennis – all key trading competencies at Song88.”

The post QTech Games Introduces Multi-Sportsbook Integration for Aggregation Platform appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Asia

GLI Becomes the First Company Accredited by PAGCOR to Test and Certify iGaming Platforms in the Philippines

Published

on

gli-becomes-the-first-company-accredited-by-pagcor-to-test-and-certify-igaming-platforms-in-the-philippines

Gaming Laboratories International (GLI) has been named an Independent Testing Laboratory (ITL) by the Philippine Amusement and Gaming Corporation (PAGCOR). GLI is the first gaming testing company to achieve the accreditation and is now authorised to test and certify iGaming platforms in the Philippines.

GLI will bring its global and unsurpassed expertise to the Philippines, helping to ensure PAGCOR meets its policy and regulatory objectives as set out in its rules. GLI’s presence and its GLI-19 Standard will also help suppliers who wish to successfully and compliantly enter the marketplace.

Submissions will be tested against “GLI Standard Series GLI-19: Standards for Interactive Gaming Systems,” which has been widely accepted and adopted by jurisdictions around the world.

PAGCOR Chairman and CEO Alejandro H. Tengco said: “Regulated gaming markets ensure a safer and more sustainable gaming industry for all to participate in. A regulated market enables compliance to responsible gaming standards and the provision of tax revenue for reinvestment back into the community. PAGCOR now requires all iGaming B2B suppliers operating in the Philippines to be accredited to ensure they comply to the rigorous requirements needed to protect iGaming players. We are pleased to acknowledge GLI as the first testing and game certification provider to be accredited in the Philippines under this new framework. GLI is a global leader in regulatory advisory, iGaming and EGM testing / certification, and data security.”

GLI President and CEO James R. Maida said: “We are grateful to PAGCOR Chairman and CEO Alejandro H. Tengco and to the entire PAGCOR team for the trust they continue to place in GLI. Under the Chairman’s skillful leadership, the market in the Philippines has improved steadily, and we are honored to be the first company to be accredited for iGaming testing and certification, and we look forward to working side- by-side with PAGCOR to meet their policy objectives.”

The post GLI Becomes the First Company Accredited by PAGCOR to Test and Certify iGaming Platforms in the Philippines appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania