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LeoVegas AB Q1: Quarterly report 1 January – 31 March 2021

Published

5 years ago

May 6, 2021

George Miller

Reading Time: 4 minutes

“A good start to the year and increased focus on sports”
Gustaf Hagman, Group CEO

first quarter 2021: 1 january–31 march

Revenue increased by 8% to EUR 96.7 m (89.4). Organic growth in local currencies was 8%.
Organic growth when excluding Germany was 19%.
Adjusted EBITDA was EUR 10.9 m (9.0), corresponding to an adjusted EBITDA margin of 11.3% (10.0%). Reported EBITDA was EUR 10.4 m (9.0).
The number of depositing customers was 462,386 (413,269), an increase of 12%.
Adjusted earnings per share were EUR 0.07 (0.06).

events during the quarter

LeoVegas acquired Expekt from Betclic Group for a total purchase price of EUR 5 m. Expekt is one of the most well-known sports betting brands in Sweden and the Nordic markets, and strengthens LeoVegas’ brand portfolio ahead of the intensive sport event years in 2021 and 2022. The acquisition of Expekt is expected to be completed in May 2021.
LeoVegas’ shares were taken up for trading in USD on OTCQX Markets in the USA. This is a way for the company to meet a steadily growing interest from US investors.
Via LeoVentures, LeoVegas invested EUR 1.1 m for 25% of the shares in SharedPlay, a company that makes it possible for players to share their gaming experiences with others through the industry’s first multiplayer solution.

Events after the end of the quarter

Preliminary revenue in April amounted to EUR 32.7 m (37.5), representing negative growth of 13%. Excluding Germany, revenue grew 4%.
The Royal Panda brand has been migrated to the Group’s proprietary technical platform, Rhino. All of the Group’s wholly owned brands are now run on the Rhino platform.
LeoVegas has started its own game studio, Blue Guru Games, to develop new and innovative games. The studio will develop exclusive games for LeoVegas as well as for other operators. The first games will be released in late 2021.
LeoVegas was issued a sanction fee of SEK 2 m by the Swedish Gambling Authority. The company intends to appeal the decision.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

FIRST QUARTER
We are pleased with the start of the year and increased our revenue by 8% during the first quarter. Excluding Germany, which has been affected by new restrictions related to the upcoming regulation, revenue increased by 19%. Our growth has been driven mainly by our loyal customer base, which reached a new record level during the period. We have maintained a high pace of investment, and despite this we achieved adjusted EBITDA growth of 22%, driven by our scalability and good cost control.

ACQUISITION OF EXPEKT – increased FOCUS ON SPORTS BETTING
During the first quarter we acquired the well-known sports betting brand Expekt. The acquisition gives us one more leg to grow on and complements the Group’s brand portfolio and product offering in a strategically good way. We are looking forward to Expekt once again becoming a leading sports betting brand in Sweden and thereafter also in other markets. The acquisition is expected to be completed in May in connection with our migration of the brand to our own technical platform. The timing of the acquisition is perfect as we are now facing two years filled with major sports events, and we plan to launch Expekt well in advance of the UEFA European Football Championship, which starts in June.

MarKETS
During the first quarter we saw the full effect of the changes taking place in the German market. Operators in the market are acting differently with respect to implementing the new restrictions, which unfortunately has led to a skewed competitive situation. The assessment is that up to 70%-80% of the German market for casino has temporarily been shifted over to operators that have chosen to not adapt to the coming market regulation. Our hope is that this will soon be sorted out by the German authorities, which is a prerequisite for the licence system’s success, with a high level of channelisation and consumer protection. Germany generated approximately 6% of the Group’s total revenue during the first quarter, compared with 15% a quarter earlier. Despite this development in Germany we delivered good growth at the Group level, which reflects our strong performance in many other key markets, including Italy, Canada and Spain. Our business is more diversified than ever before, and growth at the Group level is proof that our data-driven way of working and allocating marketing investments is effective.

I also want to highlight Sweden, where the strength of the LeoVegas brand and our product breadth is appreciated by our customers. Our Swedish customer base set a new record during the quarter, and in March we grew on a yearly basis for the first time since the temporary Covid-19 restrictions were implemented in July 2020.

leoventures
The first quarter was an intensive period for our investment vehicle LeoVentures. Among other things we invested in SharedPlay, a company that makes it possible for players to share their gaming experiences with others through the industry’s first multiplayer solution. For a long time we have created successful, exclusive games with the help of external providers. We are now taking the next step by starting our own game studio – Blue Guru Games. This venture will give us full control and greater flexibility in developing new games, a unique offering to our players, and also a new revenue stream for the Group.

COMMENTS ON the SECOND QUARTER
Revenue for the month of April amounted to EUR 32.7 m (37.5), corresponding to negative growth of 13%. Excluding Germany, growth in April was positive at 4%.

Finally I want to urge you to be on the lookout for the new launch of Expekt in Sweden towards the end of May – you won’t be disappointed!

Presentation of the report – today at 09:00 CET

To participate in the conference call, and thereby be able to ask questions, please call one of the following numbers: SE: +46 (0) 8 50 69 21 80, UK: +44 (0) 20 71 92 80 00, US: +1 63 15 10 74 95, Confirmation code: 6888544 or join at the web https://edge.media-server.com/mmc/p/x6q2utt4

This information is information that LeoVegas AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 6^th of May 2021.

BetMGM

BetMGM and FashionTV Gaming Group Bring Luxury Lifestyle to North American iGaming

Published

18 hours ago

January 6, 2026

Wladimir P.

betmgm-and-fashiontv-gaming-group-bring-luxury-lifestyle-to-north-american-igaming

BetMGM, a leading iGaming and sports betting operator, has officially partnered with FashionTV Gaming Group to launch a curated portfolio of luxury-branded games. This strategic collaboration marks the entry of FashionTV’s iconic aesthetic into the North American iGaming market, exclusively through BetMGM’s platforms.

The partnership merges FashionTV’s global prestige in the worlds of fashion and high-society entertainment with BetMGM’s award-winning digital casino infrastructure.

Immersive Luxury Table Games

The initial rollout features two high-gloss table games designed to provide players with an “immersive, lifestyle-driven” experience that mirrors the sophistication of the FashionTV brand.

FashionTV Blackjack: A premium take on the casino classic, featuring refined visual assets and high-end production values.
FashionTV Roulette: A sleek, stylized version of the iconic wheel, bringing a “fashion-forward” energy to every spin.

The titles are currently live in Michigan, New Jersey, and Pennsylvania, with a wider rollout planned for all jurisdictions where BetMGM Casino is active.

Strategic Vision and 2026 Roadmap

For BetMGM, the partnership is part of a broader “branded content” strategy that includes previous successes with major TV and movie franchises.

“At BetMGM, we have redefined what it means to deliver entertainment in iGaming,” said Oliver Bartlett, VP of Gaming at BetMGM. “By partnering with FashionTV Gaming Group, we’re creating experiences that go beyond gameplay and connect players to the brands they love.”

Moshe Cohen, Founder & President of FashionTV Gaming Group, added: “BetMGM’s leadership and scale make them the perfect partner to transform our vision into a North American success story.”

Looking ahead, BetMGM has confirmed that additional FashionTV-branded titles—including slots and potentially live dealer variants—will be released throughout 2026 as part of an expanding content pipeline.

The post BetMGM and FashionTV Gaming Group Bring Luxury Lifestyle to North American iGaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Brazil Betting Law

2026 iGaming Regulatory Roadmap: Key Compliance Deadlines

Published

21 hours ago

January 6, 2026

Wladimir P.

2026-igaming-regulatory-roadmap:-key-compliance-deadlines

As the industry gathers for ICE Barcelona 2026, the regulatory landscape has shifted into a high-execution phase. The following roadmap outlines the critical compliance dates for three of the most influential markets currently undergoing major transitions: the United Kingdom, Brazil, and the Philippines.

Date	Jurisdiction	Regulatory Milestone	Action Required for Operators/Suppliers
Jan 19, 2026	United Kingdom	LCCP Social Responsibility Code 5.1.1 Update	Ban on Mixed-Product Incentives: Offers like “Bet £10, get 20 free spins” are now prohibited. Wagering Caps: Bonus wagering is capped at a maximum of 10x.
Jan 19-21, 2026	Global / EMEA	ICE Barcelona 2026	Flagship event for showcasing 2026 compliance technology and real-time auditing solutions.
Mar 19, 2026	United Kingdom	LCCP Condition 15.2.1 Reporting	Key Event Reporting: Threshold for reporting operator status/shareholder changes raised from 3% to 5%. All loans must be reported regardless of written agreements.
Mar 31, 2026	Philippines	PAGCOR B2B Accreditation Deadline	Final Compliance Date: All B2B providers (studios, aggregators, affiliates) must be accredited. Unaccredited foreign content will be blocked from licensed platforms.
Apr 6, 2026	United Kingdom	DMCC Act 2024 Alignment	Fair & Transparent Terms: Consumer Protection regulations replaced by the Digital Markets, Competition and Consumers Act 2024. Terms must align with new definitions of “misleading actions.”
June 30, 2026	United Kingdom	RTS 12 (Financial Limits)	Technical changes to Remote Technical Standards (RTS) regarding how customers set and view financial limits on their accounts.
H2 2026	Brazil	Betting Deposit Tax Vote	Proposed 15% tax on gambling deposits is expected to return to the Senate for a final vote after being pushed back in late 2025.

Regional Deep Dive: Strategic Compliance

1. United Kingdom: The “Safety & Simplicity” Era

The UKGC’s January 19th update is the most immediate challenge for marketing teams. By decoupling sports betting from casino bonuses, the regulator aims to reduce “cross-product friction” that could lead to unintended gambling harm.

Strategy: Pivot toward product-specific loyalty programs (e.g., “Bet £10 on Football, Get a £5 Free Bet”) to maintain compliance while driving retention.

2. Brazil: Sustaining the .bet.br Ecosystem

Following the January 1, 2025 launch of the regulated market, 2026 is about operational maturity. The focus has shifted to the mandatory use of the .bet.br domain and rigorous AML/KYC reporting to the Secretariat of Awards and Betting (SPA).

Strategy: Ensure all advertising features the mandatory license logo and that all protagonists in marketing materials are visibly over 21 years of age.

3. Philippines: The B2B Supply Chain Lockdown

PAGCOR’s new framework is a move to professionalize the region, mirroring the supplier-licensing models seen in Ontario and Malta.

Strategy: Foreign studios that missed the December 2025 “early bird” three-year accreditation window must expedite their applications before March 31st to avoid a total blackout on Filipino-facing sites.

The post 2026 iGaming Regulatory Roadmap: Key Compliance Deadlines appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

AI in Gambling

2026 iGaming Outlook: Regulation, AI Personalization, and the Return of “Originals”

Published

21 hours ago

January 6, 2026

Wladimir P.

2026-igaming-outlook:-regulation,-ai-personalization,-and-the-return-of-“originals”

The iGaming industry has officially entered a new era of discipline. As we move through the first quarter of 2026, the “wild west” growth of previous years has been replaced by a focus on sustainability, hyper-localization, and AI-driven player protection. From the finalization of the PROGA framework in India to the massive turnover records set by World Pool, the market is no longer just growing—it is maturing.

The Rise of “Explainable AI” in Player Retention

In 2026, AI has moved beyond simple game recommendations. Leading operators are now utilizing “Explainable AI” (XAI) to bridge the gap between engagement and compliance. Unlike traditional “black box” algorithms, XAI allows operators to understand why a player is being flagged for risky behavior or why a specific loyalty nudge was triggered.

This transparency is critical for maintaining trust in highly regulated markets like the UK and Ontario, where the UKGC’s 2026 Social Responsibility updates now demand more rigorous evidence of proactive player interaction.

“Originals” and the Rebirth of Video Poker

While high-volatility slots like Joker’s Jewels Hold & Spin continue to dominate headlines, a significant shift is occurring in the “non-slots” vertical.

The PowerPoker Revolution: Strategic partnerships, such as the recent QTech Games and Speedy Tomatoes deal, are revitalizing video poker. By adding features like “Swap-A-Card,” these games are capturing high-value player segments who prioritize skill and strategy.
Branded Originals: Platforms like MINT are proving that “Originals” (Mines, Crash, and Plinko) are no longer secondary products. Fully brandable house games are now a core foundation for crypto-first and Web3 operators, driving session frequency through provably fair mechanics.

Brazil and Ontario: The Battle for Market Supremacy

The geographic focus for 2026 remains firmly on Brazil and Ontario.

Brazil’s Advertising Evolution: With the newly regulated market in full swing, groups like Esportes Gaming Brasil joining IAB Brasil signal a shift toward responsible communication. Advertising is now a tool for helping consumers identify licensed platforms, moving away from aggressive acquisition tactics.
Ontario’s Content War: The region has become North America’s most dynamic hub. Agreements like the Peter & Sons and Casino Time deal highlight the demand for “indie-inspired” content that stands out in a saturated market.

Conclusion: The “Champion Mindset” for 2026

Success this year isn’t about volume; it’s about coherence. As highlighted by GR8 Tech’s “Champions Club” initiative for ICE Barcelona, the operators winning in 2026 are those who treat technology as a performance ecosystem. By aligning real-time data with compliant storytelling, brands are finding that “trust” is the most valuable currency in the modern iGaming world.

The post 2026 iGaming Outlook: Regulation, AI Personalization, and the Return of “Originals” appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.