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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.

Compliance Updates

KSA Completes Its Investigation Into How Minors Could Still Gamble Online Despite Age Restrictions

Published

43 minutes ago

April 15, 2026

Wladimir P.

ksa-completes-its-investigation-into-how-minors-could-still-gamble-online-despite-age-restrictions

The Dutch Gambling Authority (KSA) has completed its investigation into how minors could still gamble online despite age restrictions. The investigation shows that it is virtually impossible for minors to gamble with legal gambling providers.

Minors are not allowed to gamble in the Netherlands. When age verification is circumvented, it is primarily done via accounts belonging to adult family members and friends. However, the KSA received reports that it was possible for minors to create accounts with legal online gambling providers and launched an investigation in 2025 as a result.

The study examined the registration process at online gambling providers, with a specific focus on identity verification and bank account verification. Transaction data requested from banks allowed for a more in-depth investigation into potential shortcomings.

The investigation shows that there are virtually no serious irregularities. However, in a very limited number of cases, players were able to use another person’s bank accounts or link their own bank account to another player’s account. This could occur almost exclusively in situations where people have exactly the same initials.

Discussions with online gambling providers revealed that they did not have an immediate solution for this. The KSA notes that such a solution is now available and will engage in a technical session with the online providers to discuss what the KSA expects from the sector in this regard. The KSA will also share its recommendations with the online gambling providers at a later date, and these guidelines will be incorporated into the Wwft guidance.

Michel Groothuizen, Chairman of the Board of the Dutch Gaming Authority, said: “The KSA is deeply concerned about minors gambling. Fortunately, it appears that this hardly ever occurs among licensed providers, but we do have clear indications that it is happening nonetheless. This is likely on the illegal market. Illegal providers often apply no or low standards for age verification and advertise specifically targeting this young demographic, for example via TikTok. This is extremely harmful, and the KSA is therefore working hard to combat the illegal supply. We are also placing a stronger focus on educating minors to make them aware of the risks of gambling.”

The post KSA Completes Its Investigation Into How Minors Could Still Gamble Online Despite Age Restrictions appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Aigars Jurgelans

Amusnet Announces Strategic Partnership with Concorde Casino Group

Published

43 minutes ago

April 15, 2026

Wladimir P.

amusnet-announces-strategic-partnership-with-concorde-casino-group

Amusnet, a leading provider of next-generation gaming solutions, has announced a new strategic partnership with the Concorde casino group, which operates three casinos in Cyprus: Concorde Tower Casino in Nicosia, Concorde Luxury Casino in Bafra and Concorde Aria Casino in Kyrenia. This collaboration marks a significant step in Amusnet’s strategy to expand its gaming portfolio into the vibrant Cyprus Land-based casino market.

The partnership’s initial phase includes installing 16 of Amusnet’s state-of-the-art Type S 32 slot cabinets across the two locations. Manufactured to the highest standards of the global casino industry, Amusnet’s premium slot machines combine cutting-edge technology, sleek design and exceptional player engagement. The game selection features some of Amusnet’s most popular titles, including Crazy Red, Candy Palace,100 Extra Crown, Art of Gold, Extra Crown, Vampire Beast and Phoenix Star.

The partnership started with the installation of 16 of Amusnet’s state-of-the-art Type S 32 slot cabinets at the group’s first two casino locations, Concorde Tower Casino in Nicosia and Concorde Luxury Casino in Bafra. Manufactured to the highest standards of the global casino industry, Amusnet’s premium slot machines combine cutting-edge technology, sleek design and exceptional player engagement. The game selection features some of Amusnet’s most popular titles, including Crazy Red, Candy Palace, 100 Extra Crown, Art of Gold, Extra Crown, Vampire Beast and Phoenix Star. The partnership continues with the installation of 8 Type S J55 slot cabinets at the newest Concorde Aria Casino, scheduled to open in May 2026.

“Our expansion into the Cyprus Land-based market is a testament to our shared vision and commitment to quality with Concorde Casino. This partnership provides us with a strong foundation of excellence and mutual trust. The collaboration allows us to continue our mission of providing exceptional gaming experiences, seamlessly introducing the success of our online portfolio to their premium Land-based venues,” said Borislav Marinov, Head of Business Development, Land-based at Amusnet.

“At Concorde Casinos, we are always looking for ways to diversify and strengthen our product offering. In my view, Amusnet brings a product that is particularly well-suited to players who are already familiar with and enjoy online slot games, helping us connect Land-based entertainment with modern player preferences. I am impressed by Amusnet’s innovations, the quality of their products, and the high level of technical support they provide. We are pleased to have them as a partner and look forward to developing this cooperation further,” said Aigars Jurgelans, Slot Director at Concorde Casinos.

The post Amusnet Announces Strategic Partnership with Concorde Casino Group appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

ADI Predictstreet

DAZN Enters into Strategic Partnership with ADI Predictstreet

Published

43 minutes ago

April 15, 2026

Wladimir P.

dazn-enters-into-strategic-partnership-with-adi-predictstreet

DAZN, the world’s leading sports entertainment platform, and ADI Predictstreet, the new dynamic prediction market, have entered into a landmark strategic partnership to deliver a new era of interactive engagement to fans around the world.

DAZN will integrate ADI Predictstreet, the Official Prediction Market Partner of the FIFA World Cup 2026, into its platform, enhancing DAZN’s ecosystem of live and on-demand sports viewing, real-time scores, news, betting, gaming and FanZone.

DAZN’s footprint provides unparalleled distribution for ADI Predictstreet’s prediction market infrastructure. Through this partnership, prediction becomes a native part of the fan experience—embedded before, during, and after live events—allowing fans to engage with market sentiment, probability, and collective insight in real time.

This collaboration brings together two FIFA partners to create a seamless ecosystem where sport and prediction converge. Embedded directly into DAZN’s live streams, ADI Predictstreet will enable interactive prompts, real-time sentiment tracking, and dynamic prediction experiences tied to the world’s biggest sporting moments.

ADI Predictstreet, powered by ADI Chain’s blockchain infrastructure, is a new forecasting market platform that is programmed and trained on FIFA’s official historic data, allowing fans to predict things such as match outcomes, tournament statistics, and breakout players throughout the competition using an educated approach.

While the FIFA World Cup 2026 will serve as a launchpad, the partnership extends across DAZN’s premium sports portfolio. ADI Predictstreet will roll out across major leagues and events, driving deeper, more continuous fan engagement.

Shay Segev, CEO of DAZN Group, said: “DAZN is redefining sports entertainment by making it more immersive, interactive and connected for every fan. Partnering with ADI Predictstreet allows us to embed real‑time prediction directly into the live viewing experience, turning insight and sentiment into a native part of how fans engage with the world’s biggest sporting moments. With the FIFA World Cup 2026 as a catalyst and our platform as the engine, this partnership is a major step forward in how fans experience sport.”

Dimitrios Psarrakis, CEO at Predictstreet, said: “This partnership marks a defining moment in how audiences will experience sport. By combining DAZN’s unmatched reach with ADI Predictstreet’s real-time participation layer, we are transforming fans from spectators into active participants. This is not just an evolution of engagement, it is the creation of a new category where technology, collective intelligence, and global events intersect at scale.”

Designed to reward insight and informed participation, and with community building and interactive engagement sentiment at its core, ADI Predictstreet offers supporters new ways to engage with iconic sporting moments across DAZN’s sporting portfolio, including the FIFA World Cup 2026.

Underpinning this ecosystem is ADI Chain, an institutional-grade digital infrastructure designed to support high-volume, real-time transactions with transparency, security, and scalability at its core. This foundation enables ADI Predictstreet to operate seamlessly at global scale, supporting millions of users across live environments while maintaining a trusted and robust digital framework.

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