Latest News
LeoVegas AB Q1: Quarterly report 1 January – 31 March 2021
“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 6th of May 2021.
Powered by WPeMatico
OddsMatrix, EveryMatrix’s sportsbook and odds feed business, has further enhanced its premium sports content offering by partnering with micro-markets provider Kero Gaming.
The collaboration will see OddsMatrix integrate Kero’s suite of traditional and contextual football led micro markets into its sportsbook and feed coverage, with basketball, baseball, and American football to follow later this year.
These rapid micro-markets will broaden OddsMatrix’s coverage of 170,000+ monthly live betting events and 650+ bet types across its ‘always-on’ sportsbook.
Kero content will supplement OddsMatrix’s existing multi-sport Fast Markets product offering sportsbook and odds feed customers real-time, instant betting options across a variety of individual game moments.
By blending its proprietary Fast Markets with Kero’s micro-betting output, OddsMatrix will further empower its growing, global tier-1 client base with a differentiated and dynamic live betting offering.
Tor Skeie, CEO, OddsMatrix, said: “Integrating with Kero Gaming adds another layer to our comprehensive premium sportsbook and feed coverage.
“Kero have been fundamental figures in the growth of micro-betting and we are thrilled to integrate their content into our ‘always-on’ sportsbook.
“We’re passionate about empowering our loyal customers with technology, tools and content that enable them to differentiate, and this partnership will help support that goal.”
Tomash Devenishek, CEO, Kero Gaming, said: “Collaborating with EveryMatrix is a natural fit for Kero, as both companies share a commitment to delivering best-in-class solutions for operators and bettors alike.
“This partnership enables us to integrate our cutting-edge micro-betting technology with EveryMatrix’s powerful platform, creating new opportunities for engagement and excitement.”
The post OddsMatrix grows micro-market coverage with Kero Gaming integration appeared first on European Gaming Industry News.
Rapidly Expanding Content provider takes players on a trip to Wonderland in Alice WonderLuck
Popular iGaming content provider BGaming is thrilled to announce the launch of Alice WonderLuck. Inspired by the whimsical world of Lewis Caroll’s iconic novel, Alice Wonderluck invites players to conjure up some magic on the reels.
Alice WonderLuck plunges players into a vibrant reimagining of Wonderland, where a series of familiar characters are given a fresh, digital makeover. The classic tale’s creative and slightly off-kilter atmosphere has been brought to life perfectly with an enchanting soundtrack.
Adding to the slot’s immersive experience, Alice is positioned by the reels and will react to in-game events. She is on hand to support players whenever they need it, helping to drive engagement and keep them in the thick of the action.
The fantastical world of Alice in Wonderland is renowned for its mystery and surprises, and BGaming has tapped into this with the game’s Mystery Symbol feature. The symbols can land during any base game spin, heightening anticipation and creating suspense. They can also turn into Golden Mystery symbols, triggering the Coin feature with different multipliers and Collect symbols.
At the start of the Free Spins round, players enter the Choose Card round. Here, they encounter 16 face-down cards and can turn a select number over to uncover additional features, including extra spins, low Mystery symbols, high Wilds, or multipliers.
Alice WonderLuck emphasizes player choice, offering two differently priced bonus buy features for an improved entertainment experience. For 100x their stake, players can trigger the spins with at least three extra features, and for 250x, they will be triggered with five.
Players who enjoy high stakes will also love the optional Try Your Luck game before the Free Spins game.
While many of these gameplay features may appear familiar, the beauty of Alice WonderLuck is that it provides a new perspective on them.
If the captivating gameplay isn’t enough to lure players down the rabbit hole, then the game’s powerful math model will be. Alice WonderLuck conjures up a maximum win of 10,000x of the stake and an attractive 97.00% RTP.
Yulia Aliakseyeva, Chief Product Officer at BGaming, said: “We are all huge fans of Alice in Wonderland at BGaming and have wanted to create a slot around the theme for a long time.
The magical world of the story lends itself perfectly to online slots, and it has allowed our team to get creative with the gameplay. We’ve blended familiar features with a fresh perspective, creating an enchanting game with some brilliant winning potential.”
The post Dive Into the Rabbit Hole with BGaming’s Alice WonderLuck appeared first on European Gaming Industry News.
Latest News
Step onto the Court with “Hoop Champion” A Revolutionary Basketball-Themed Game from Gaming Corps
Gaming Corps introduces a brand new, innovative mechanic X-MY-WAY™ in the adrenaline-fueled Hoop Champion
Gaming Corps, a publicly listed game studio based in Sweden, is proud to announce the release of Hoop Champion. This new game also marks the debut of the innovative new X-MY-WAY™ mechanic.
Get ready for an action-packed gaming journey like no other as Gaming Corps invites players to step into the vibrant world of basketball with Hoop Champion, a revolutionary new game. Crafted for casino lovers and online gamers, this title fuses thrilling basketball action with unmatched gambling mechanics, providing a truly distinctive and exciting gameplay experience.
Hoop Champion isn’t just another game, it’s a next-level experience that puts players on the court where every move counts.
Hoop Champion allows players to take charge of their gameplay through the innovative “X-MY-WAY” mechanic. They can select their strategy, whether opting for safe midrange shots or daring high-reward three-pointers for a chance at substantial payouts. Each position on the court brings its challenges, offering different payout opportunities that keep the game engaging, similar to a real basketball experience.
With the possibility of a 1,000x multiplier, players can aim for impressive rewards. The decision lies with them: they can choose to go for the 25x multiplier right away or take a more cautious approach with smaller multipliers like 1.1x. Players have control over how their multiplier grows with just a few clicks, deciding when to cash out or continue for that big 1000x win. This adaptability and personalisation ensure that the experience fits their strategy and risk tolerance, allowing them to play at their own pace.
Connor Blinman, Head of Games at Gaming Corps said: “Hoop Champion is our fresh take on a game blending skill and decision-making with good old-fashioned luck.
“This revolutionary mix allows players to feel more involved in the gameplay, making every decision impactful and we can’t wait to see how players respond to this fantastic new title from our superb games team.”
The post Step onto the Court with “Hoop Champion” A Revolutionary Basketball-Themed Game from Gaming Corps appeared first on European Gaming Industry News.
-
Betty6 days agoWyzia Renews Canadian Partnership With Betty
-
BCLC5 days agoBCLC Reminds Public to be Cautious of Illegal Online Casino Scams
-
Compliance Updates6 days ago
Texas Lottery Moves to Ban Lottery Courier Services
-
BETBY7 days ago
BETBY EXPANDS LATAM PRESENCE WITH APPOINTMENT OF JUAN PABLO BARAHONA AS REGIONAL DIRECTOR
-
Betsson5 days ago
Betsson Obtains Local Gaming Licence in Brazil
-
André Baldavira6 days ago
GingaBet Becomes New Master Sponsor of Ponte Preta
-
Aposta 15 days ago
scoreconnect boosts Brazilian presence with Aposta 1 deal
-
Compliance Updates5 days ago
Colombian Lottery Operators Get Permission to Use Random Number Generators
