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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.

B2B iGaming

Logifuture Joins Forces with BetConstruct AI to Expand Virtual Sports

Published

2 hours ago

March 5, 2026

Wladimir P.

logifuture-joins-forces-with-betconstruct-ai-to-expand-virtual-sports

Logifuture, a leading B2B provider of virtual sports and instant gaming solutions, has announced a strategic partnership with BetConstruct AI, a global iGaming platform powering hundreds of operators worldwide. This collaboration integrates Logifuture’s flagship products, Zoom Sports and Simulate, into BetConstruct AI’s platform, significantly expanding access to innovative engagement tools for operators.

Expanding Global Reach

The partnership enables operators to offer next-generation virtual sports and instant betting solutions, enhancing player activity and generating incremental revenue.

Zoom Sports delivers ultra-realistic virtual football and tennis events in both full-length and turbo formats, offering thousands of daily betting opportunities.
Simulate allows players to instantly simulate the outcome of betslips, removing waiting times and creating immediate engagement.

These tools extend player retention, increase betting activity beyond live events, and create cross-sell opportunities across the BetConstruct AI network.

Innovation at the Core

Both Logifuture and BetConstruct AI prioritize innovation and product differentiation, helping operators stand out in a highly competitive market.

Niccolò Cassettari, Chief Business Development Officer at Logifuture, commented:
“Partnering with BetConstruct AI is a major step forward. Their global reach makes them the ideal partner to scale Zoom Sports and Simulate worldwide. This collaboration is just the beginning of a long-term partnership to deliver new experiences and stronger operator performance.”

Looking Ahead

The partnership will focus on expanding distribution, delivering new gaming experiences, and introducing innovative products to keep players engaged while helping operators grow revenue worldwide.

The post Logifuture Joins Forces with BetConstruct AI to Expand Virtual Sports appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

automated payouts

Infingame Launches Enhanced Tournaments and Challenges for Player Retention

Published

2 hours ago

March 5, 2026

Wladimir P.

infingame-launches-enhanced-tournaments-and-challenges-for-player-retention

Infingame, a leading game aggregator, has rolled out major upgrades to its Tournaments and Challenges promotional tools, offering operators advanced ways to engage and retain players.

Instead of introducing new products, Infingame focused on refining its most popular gamification features, enhancing flexibility, performance, and campaign management. These improvements cater to operators increasingly prioritizing long-term player engagement over acquisition.

Enhanced Competitive Tournaments

Infingame’s Tournaments tool transforms regular gameplay into competitive experiences, boosting interaction through real-time progression. Optimized for web and mobile, the tool now allows operators to:

Customize tournaments with brand-specific banners
Segment players for whitelist participation
Add timed promotions like Happy Hours
Select from five tournament formats: bet race, win race, multiplier race, highest multiplier, and highest win

The updated reward system supports monetary and non-monetary prizes, free spins, optional wagering requirements, and automated payouts, reducing operational workload while maintaining campaign flexibility.

Challenges for Mission-Based Engagement

The Challenges tool guides player activity with structured tasks and rewards, creating mission-based engagement journeys. The upgrade enhances flexibility and precision, supporting:

Short-term promotional boosts
Recurring engagement strategies
Daily and long-term challenges for consistent player activity

This approach helps operators sustain engagement across the entire player lifecycle, creating meaningful, repeatable experiences.

Operator-Driven Development

Jana Filagina, Head of Commercial at Infingame, commented:
“The goal wasn’t to reinvent Tournaments and Challenges but to make them more powerful and user-friendly. Operators need tools that drive engagement continuously while keeping operational complexity low.”

Fully integrated into Infingame’s aggregation platform, the updated tools can be deployed instantly across thousands of games via a single API, enabling a unified ecosystem where content, analytics, and engagement mechanics work seamlessly together.

The upgrades reflect a broader industry trend toward gamified, retention-focused strategies, helping operators maximize player activity while simplifying management.

The post Infingame Launches Enhanced Tournaments and Challenges for Player Retention appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Canadian iGaming market

Hugo Casino Teams Up with CasinoCanada to Expand in Canada

Published

3 hours ago

March 5, 2026

Wladimir P.

hugo-casino-teams-up-with-casinocanada-to-expand-in-canada

Hugo Casino, a popular online gaming platform operated by Kawaii Partners, has officially partnered with CasinoCanada.com to strengthen its presence in the Canadian market. The collaboration will focus on editorial coverage, analytical reviews, and SEO-optimized content tailored for Canadian players.

Under this partnership, CasinoCanada will produce detailed reviews, comparison guides, and data-driven insights, aimed at delivering transparent, research-based evaluations of Hugo Casino’s platform. The content strategy is designed to attract high-quality, search-driven traffic, helping players make informed decisions while enhancing Hugo Casino’s digital visibility.

Eugene Ravdin, Head of PR at SEOBROTHERS, which operates CasinoCanada, commented:
“Partnering with Hugo Casino aligns with our strategy of working with operators who prioritize compliance, security, and quality user experiences. Hugo Casino has a strong operational foundation and clear product vision. Our goal is to provide objective, data-driven content that drives sustainable long-term traffic and measurable results.”

Hugo Casino operates under a Curacao license and offers a wide portfolio of online entertainment, including slots, table games, and a fully immersive Live Casino. Security is a priority, with advanced encryption safeguarding players’ personal and financial information. Customer support is available 24/7 via Live Chat and email.

Players can access over 10,000 casino games, featuring top titles from leading providers such as Pragmatic Play, Play’n GO, and Yggdrasil. Hugo Casino supports 10 fiat payment options and 12 cryptocurrencies, making deposits and withdrawals simple and convenient.

Kawaii Partners, launched in 2023, also operates Spinzen Casino, expanding its portfolio in the online gaming and affiliate marketing space.

This partnership with CasinoCanada highlights Hugo Casino’s commitment to transparency, high-quality content, and a growing Canadian audience.

The post Hugo Casino Teams Up with CasinoCanada to Expand in Canada appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.