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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.

content strategy

DuelBits says UFC creator campaign delivers 122m verified video views

Published

2 hours ago

July 16, 2026

Wladimir P.

duelbits-says-ufc-creator-campaign-delivers-122m-verified-video-views

DuelBits has published results from its JUSTIN2026 marketing campaign, saying the UFC-focused activation generated more than 122 million verified video views and contributed to one of the company’s strongest MMA betting events “in recent years.”

The crypto sportsbook and casino operator said the campaign launched ahead of UFC event Freedom 250 at the White House and centred on former UFC lightweight champion Justin Gaethje. DuelBits framed the partnership as an early bet on Gaethje, before broader commercial interest.

According to the company, the campaign set a KPI to exceed 100 million impressions across owned, paid and partnered media, and ultimately delivered more than 122 million verified clip views via a network of more than 140 creators. The asset mix included a hero film, six short-form cutdowns, behind-the-scenes content and still imagery, distributed via DuelBits’ social channels, MMA publishers, creator partnerships and clipping pages.

DuelBits said the hero content was also integrated into Gaethje’s “Art of Violence” YouTube series. The operator added that the activation drove promotional code engagement and helped convert attention into sportsbook activity.

Jasper Hoekert, Chief Marketing Officer at Duelbits, said: “We wanted to support Justin before everyone else recognised the opportunity. Instead of following the hype once he has already achieved greatness, we wanted to back a champion before anybody else did.

“The campaign wasn’t measured purely on views. Of course, surpassing 122 million verified views and exceeding our 100 million KPI was a huge achievement, but the real success was seeing that attention convert into one of our strongest UFC betting nights in recent years.

“It also reinforced something that’s key to DuelBits as a brand, which is that we don’t do small campaigns. Whether it’s the production quality, creator network, or distribution strategy, we want every activation to show what’s possible when sportsbook marketing is treated like premium entertainment.”

The post DuelBits says UFC creator campaign delivers 122m verified video views appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

iGaming

Slotegrator now provides native app experience for iGaming platforms with PWA function

Published

3 hours ago

July 16, 2026

Wladimir P.

slotegrator-now-provides-native-app-experience-for-igaming-platforms-with-pwa-function

Slotegrator’s platform solution now offers progressive web app (PWA) functionality, enabling operators to provide installable casino apps with push notifications, flexible branding, and seamless access across changing domains.

The Casino Builder module in Slotegator’s platform solution has been upgraded with a Progressive Web Application (PWA) feature that allows casinos to deliver an app-like experience without relying on the App Store or Google Play.

Native apps are powerful tools for building customer loyalty and enhancing engagement. However, iGaming brands face serious obstacles, such as strict marketplace policies, long review processes, geographic restrictions, and the constant threat of app removal. Slotegrator’s PWA functionality eliminates these barriers, allowing players to install a casino app directly from their browser and enjoy many of the same benefits as a native app.

After installation, the PWA opens from the user’s home screen, loads fast, and supports push notification integration that enhances player engagement and retention.

“Mobile is still the leading channel for user acquisition and retention; however, it’s difficult to distribute native apps in iGaming,” says Olga Ivanchik, COO at Slotegrator. “Our new PWA feature gives operators an alternative that will be familiar to their players, while eliminating the complications related to conventional app stores. Operators can launch quickly, retain full control over updates, and ensure a perfect mobile gaming experience for any market.”

Within the next 2 months, operators will also have the ability to determine when the PWA install bar will be visible to the player. For example, displaying the install bar immediately after the first deposit, as part of a broader retention strategy, helps drive long-term player LTV. The operator can also set up frequency of the install offer — daily, weekly, just once, etc.

Some operators have to consider UX for multiple frontends. Luckily, the installation widgets are highly flexible, helping them drive maximum conversion without sacrificing user experience. Operators can select a top bar or a top banner installation widget, both of which are fully customizable with branded icons, messaging, and backgrounds.

Operators can limit the visibility of their installation campaigns to specific devices — desktop, mobile, Android, or iOS — thanks to special targeting options. Operators can also design acquisition strategies specific to each platform, driving installs only where they offer the best user experience.

When players install the PWA, operators can connect it to push notification services, so they can re-engage them even when the application isn’t actively open.

Mirror domain compatibility addresses a common operational challenge in restricted markets. If an operator has to change domains due to licensing or regulatory requirements, players who have already installed the PWA will be able to continue using it without reinstallation.

Unlike native applications, PWAs don’t require App Store or Google Play approval, effectively eliminating possible delays and the risk of removal from the market. Instead, operators can deploy updates instantly to every user.

The new PWA functionality is now available in Slotegrator’s Casino Builder module, alongside other tools for improving mobile acquisition, engagement, and player retention.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

The post Slotegrator now provides native app experience for iGaming platforms with PWA function appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

iGaming

Slotegrator now provides native app experience for iGaming platforms with PWA function

Published

3 hours ago

July 16, 2026

GamingAmericas.com

After installation, the PWA opens from the user’s home screen, loads fast, and supports push notification integration that enhances player engagement and retention.

When players install the PWA, operators can connect it to push notification services, so they can re-engage them even when the application isn’t actively open.

The new PWA functionality is now available in Slotegrator’s Casino Builder module, alongside other tools for improving mobile acquisition, engagement, and player retention.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

The post Slotegrator now provides native app experience for iGaming platforms with PWA function appeared first on Americas iGaming & Sports Betting News.