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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2021
“All-time-high in Sweden and a strong start for Expekt” – Gustaf Hagman, Group CEO
SECOND QUARTER 2021: 1 APRIL – 30 JUNE
- Revenue decreased by 13% to EUR 96.8 m (110.7).
- Excluding Germany, growth was positive 3%.
- Adjusted EBITDA was EUR 10.6 m (23.0), corresponding to a margin of 10.9% (20.8%). Reported EBITDA was EUR 9.8 m (23.0).
- The number of depositing customers was 460,697 (434,453), an increase of 6%.
- Adjusted earnings per share were EUR 0.06 (0.19).
EVENTS DURING THE QUARTER
- The acquisition of Expekt was completed and integrated on 19 May 2021. The start has been a success, and Expekt’s revenue and market share have nearly doubled in Sweden since the acquisition was carried out.
- LeoVegas’ forthcoming expansion to the USA, starting in the state of New Jersey, is on track.
- LeoVegas carried out share repurchases for EUR 4.9 m and paid out of the first out of four quarterly dividends to the Parent Company’s shareholders. The second quarterly dividend payment was made after the end of the period.
- LeoVegas’ framework and routines for ensuring responsible gaming have been assessed by the independent agency eCOGRA. The external assessment shows that LeoVegas is in conformity with all relevant recommendations and requirements for responsible gaming published by the European commission.
EVENTS AFTER THE END OF THE QUARTER
- Preliminary revenue in July amounted to EUR 32.8 m (30.7), corresponding to growth of 7%. Excluding Germany, revenue grew 23%.
COMMENT FROM GUSTAF HAGMAN – GROUP CEO
SECOND QUARTER
Most of our markets have continued to develop well, with high, double-digit growth in key markets like Italy and Spain. The development in Sweden is encouraging, with record-high revenue during the quarter. We are also growing rapidly in North America, which now accounts for 10% of consolidated revenue. However, re-regulation in Germany continued to negatively impact figures during the period. Excluding Germany, Group revenue increased by 3% to a new record level despite tough comparison figures from the start of the pandemic during the second quarter of 2020 and greater competition from other entertainment activities as societies are now opening up again. We expect to see positive growth for the Group on a yearly basis during the third quarter.
Our operating profit decreased compared with the same period a year ago, while we achieved stable earnings compared with the preceding quarter. This is despite a high level of investments and a number of important, strategic ventures, including our forthcoming launch in the USA, a stronger focus on sports with the acquisition of Expekt, and our new game studio. Marketing costs in relation to revenue were higher than the historic average, coupled among other things to the relaunch of Expekt and investments in a number of key markets in which we see high customer growth. Investments in marketing during the quarter weighed down earnings short-term but are driving value long-term and will also enable us to accelerate out of the revenue drop in Germany. As revenues increase, the share of marketing investment will decrease. At the same time, we have maintained good cost control, and our operating expenses have more or less been unchanged over the last three-year period.
THE NEW EXPEKT
In mid-May we consolidated the acquisition of Expekt, and shortly thereafter “the New Expekt” was launched with a large and attention-grabbing marketing campaign ahead of the Euro 2020 football championship. It was a successful start, and in a short time we nearly doubled Expekt’s revenue and market share in Sweden since completion of the acquisition.
GERMANY
The situation in Germany coupled to re-regulation, with strict product limitations, an extremely high gaming tax and a skewed competitive situation, is having a negative effect on the Group. Revenue in Germany decreased by 81% compared with a year ago and accounted for only 4% of Group revenue during the quarter. We believe it will take time to create a balanced and fair market climate and have therefore chosen to shift our investments to other, more profitable markets. Over the long term we still believe that Germany, with Europe’s largest population, offers great opportunities for the Group.
NORTH AMERICA
Our forthcoming expansion to the USA, starting with the state of New Jersey, is on track. We are currently working on adapting and certifying our technical platform, and during the autumn we will also begin establishing a local organisation. We expect to accept our first American customers during the first half of 2022.
The Canadian province of Ontario, which is home to roughly 40% of Canada’s population, is conducting preparations to introduce a local licence system for online gaming. LeoVegas has built up a strong brand along with a large and loyal customer base in Ontario and the rest of Canada, among other things with help from former hockey legend Mats Sundin. According to our assessment LeoVegas is one of the larger and most well-known casino actors in the Canadian market.
During the second quarter, North America accounted for 10% of the Group’s total revenue and grew 33%. In pace with our continued expansion in Canada and forthcoming launch in the USA, revenue from North America will increase. This is in line with the Group’s strategy to diversify our revenues.
COMMENTS ON THE THIRD QUARTER
Revenue for the month of July amounted to EUR 32.8 m (30.7), corresponding to positive growth of 7%. Adjusted for Germany, the Group’s growth in July was 23%.
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Battle of the Tribes
POLYTOPIA WORLD CHAMPIONSHIP 2025 BREAKS RECORD PARTICIPATION AS FINALS DRAW CLOSER
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Celebrated strategy game The Battle of Polytopia confirms its first ever World Championships has exceeded expectations with over 10,000 sign-ups in its qualifying rounds. While no stranger to tournaments, previously hosting smaller scale, local tournaments called ‘Polysseums’, developer Midjiwan’s first step into global esports has been met with extreme success. The inclusive esports event has a $10,000 prize pool and will conclude on 6 December 2025, 14:00-21:00.
The finals will take place in front of a live-studio audience, with expert commentary and a chance to peek behind the scenes at Midjiwan itself. First place will receive $4,000, the runner-up will take away $2,000, the third and fourth place finishers will get $1,500, and the fifth and sixth place $500.
The Polytopia World Championship 2025 is being hosted by eSports platform, Challengermode, who Midjiwan has relied on for its monthly local tournaments since 2022. Midjiwan also partnered with Black Molly Entertainment to help organise and manage the event. Black Molly Entertainment have years of experience managing eSports tournaments, with notable events including the Geoguesser World Cup and CS:GO Pinnacle Cup Championship.
Midjiwan has worked closely with its community to ensure engagement is high with each round, building a bespoke ‘Spectator Mode’ into the game so fans can watch each game live through the game itself. In the spectator mode the viewer has visibility of all players simultaneously, with stats on how many cities, technologies, kills and more available for quick access.
Christian Lovstedt, CEO of Midjiwan commented:
“Polytopia has always been about welcoming all kinds of players into the world of 4X strategy. That’s why our championship is open to everyone – not just pros with sponsors. We’ve been thrilled at the amount of interest this tournament received from our community, reaching participation numbers way beyond our expectations. We’re excited to bring the finalists to Stockholm and can’t wait to see the strategies that emerge.”
The Polytopia World Championship 2025 kicked off in September, with its ‘Battle of the Tribes’ qualifying round – weekly battles where players competed to be the best in each of the game’s 12 tribes. After an exciting six weeks, the top player from each tribe faced-off, reducing the qualifiers to six finalists. These six winners are listed down below.
|
Tribe |
Qualifying Player |
|
IMPERIUS |
ArthurL248 |
|
BARDUR |
slimmingboy |
|
OUMAJI |
Dreamlander3000 |
|
HOODRICK |
Theetat |
|
XIN-Xi |
LeLiberateur |
|
LUXIDOOR |
Meisterlampe |
Recaps of each round of the tournament prior to the finals can be watched on the official Battle of Polytopia YouTube channel.
-
Part 1: Polytopia World Championship 1st Qualifiers Wrap-Up – BARDUR, IMPERIUS, KICKOO, ZEBASI
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Part 2: Qualifiers Wrap-Up – Oumaji Hoodrick Yadakk & Quetzali – World Champoinship 2025
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Part 3: Final Qualifiers Wrap-Up – Xin-Xi, Luxidoor, Ai-Mo & Vengir – World Championship 2025
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Face-off stream: https://youtube.com/live/GnU6mWPoJiY?feature=share
To watch the finals live on December 6,visit here: https://polytopia.io/stream/
To stay up to date on the Polytopia World Championship 2025, or purchase one of the limited tickets for the live event, visit the official website or join the Official Polytopia Discord.
The post POLYTOPIA WORLD CHAMPIONSHIP 2025 BREAKS RECORD PARTICIPATION AS FINALS DRAW CLOSER appeared first on European Gaming Industry News.
Latest News
Second Prize Drop of N1 Puzzle Promo: Top Affiliates Score Porsche, Cartier, Leica & Apple for Driving High-Quality Traffic
N1 Partners is wrapping up the second lottery of the N1 Puzzle Promo! From September 1 to November 30, partners were actively collecting puzzle pieces for FTDs and climbing the rankings to secure their place among the winners.
A notable trend this season: the Top-5 leaders by traffic and collected puzzles differ from the main leaderboard. This means some partners slowed down, while others pushed harder — and now have every chance to boost their position in the overall standings by the end of the promo.
Five luxury prizes will be awarded to partners with consistently strong performance who entered the Top-5 by puzzle count during the second mini-lottery period.
Which prizes did the leaders receive?
1st place — MacBook Pro
C*** *****h
2nd place — Porsche eBike Sport
A***********t
3rd place — Cartier Santos Medium watch
T****** ****d
4th place — Leica Q2 camera
P******k
5th place — Apple Vision Pro
S** ****s
“The promo is entering its final stretch — a crucial checkpoint for the entire N1 Puzzle Promo, where the fate of the leaderboard may be decided,” notes Alexa Bond, Head of Affiliates at N1 Partners. “With one month left until the end, even those who joined later still have a chance to make a breakthrough, while the leaders can strengthen their positions and widen the gap. N1 Puzzle Promo isn’t about luck — it’s about consistent work and mutual trust between partners and the affiliate program.”
The Grand Finale in Barcelona Is Getting Closer
The race continues: the more puzzle pieces collected throughout the promo, the higher the ranking — and the greater the chance to fly out of Barcelona in your very own helicopter!
On January 20, 2026, in Barcelona, during iGB Affiliate and ICE, N1 Partners will host the final N1 Puzzle Promo party, where winners will receive exclusive gifts — and the grand prize: a Robinson R22 Beta II helicopter.
Guests of the event can also expect:
- Exclusive prize ceremony;
- Live performance by top artists and the evening’s headliner (announcement coming soon)!
- Activities and surprises from the N1 Partners team;
Still Not Too Late to Join
N1 Puzzle Promo runs until December 31, 2025, and partners still have time to collect puzzle pieces, climb the leaderboard, and compete for the grand prize and additional rewards. Traffic from Tier-1 GEOs counts toward the ranking, and only registered N1 Partners partners can participate.
All details and registration are available at: https://n1.partners/puzzle_promo
There’s still time! Collect your puzzle pieces, level up in the leaderboard — and your team might be the one taking home the Robinson R22 Beta II right off the stage in Barcelona!
bet365
bet365 PARTNERS WITH INSPIRED ENTERTAINMENT TO LAUNCH A BESPOKE GAME: SPIN O’REELY GRAND CHANCE
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Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, is thrilled to announce the exclusive launch of its brand-new, bespoke slot game, Spin O’Reely Grand Chance, in collaboration with long time partners bet365.
Expanding bet365’s popular exclusive Irish-themed Spin O’Reely game series, the game will initially be available to players in the UK, Ontario, and New Jersey, with more markets to follow soon. The game can also be accessed via the bet365.com domain.
Spin O’Reely Grand Chance builds on Inspired’s successful Golden Winner
slot, combining its fan-favourite mechanics with new features. This 5×3 slot includes a Free Spins bonus round with multipliers and the potential for additional Free Spins. Players will also discover dynamic reel upgrades, bell announcements, prize pots, a progressive bonus feature and the Golden Grand Chance Cherry feature.
Claire Osborne, VP of Interactive at Inspired Entertainment, said: “We’re thrilled to expand our long-standing partnership with bet365 through the launch of Spin O’Reely Grand Chance. By combining the proven mechanics of one of our top-performing titles with the lively charm of a bet365 Irish-themed classic, we’ve created a game that’s built for success. We can’t wait to see players enjoy it and look forward to building on this momentum together.”
A bet365 spokesperson said: “We are delighted to launch Spin O’Reely Grand Chance in collaboration with Inspired. This game combines enjoyable mechanics with innovative features that will provide our players entertaining gaming experience. We are confident that Spin O’Reely Grand Chance will be a popular addition to our portfolio of cutting-edge content.”
Experience the exciting new collaboration between bet365 and Inspired Entertainment with Spin O’Reely Grand Chance, available now exclusively at bet365.
The post bet365 PARTNERS WITH INSPIRED ENTERTAINMENT TO LAUNCH A BESPOKE GAME: SPIN O’REELY GRAND CHANCE appeared first on European Gaming Industry News.
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