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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2021

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“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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Andrew Pink Head of Brand & Communication at Play’n GO

Reactoonz 100 Crowned Game of the Year

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Play’n GO, the world’s leading casino entertainment provider, is proud to announce that Reactoonz 100 has been named Game of the Year at the SBC Europe Awards 2026, held last week in Malta.

The award recognises the outstanding creative ambition, commercial performance and cultural impact of Reactoonz 100, which has quickly established itself as one of the most significant releases in Play’n GO’s history. Building on the legacy of the much-loved Reactoonz series, the title has delivered exceptional engagement across regulated European markets since launch.

Reactoonz 100 was supported by a record-breaking launch campaign as part of Play’n GO’s 20th anniversary celebrations, most notably sending the series’ iconic character Garga into space – a first for the iGaming industry, since copied. The activation captured attention far beyond traditional industry channels and reinforced Play’n GO’s reputation for creativity that extends well beyond the game itself.

Andrew Pink, Head of Brand & Communication at Play’n GO, said: “Winning Game of the Year is a huge moment for Reactoonz 100 and for everyone across Play’n GO who brought this project to life.

Reactoonz is one of the most important franchises in our history, and with Reactoonz 100 we set out to push both the creative and cultural boundaries of what a game launch could be. This award is a powerful validation of that ambition, and of the belief that bold ideas, executed properly, still cut through in this industry.”

Since its release, Reactoonz 100 has achieved near-universal rollout across Play’n GO’s partner network in more than 35 regulated markets, delivering strong and sustained performance well beyond launch. Its success reflects both the enduring appeal of the Reactoonz brand and Play’n GO’s continued focus on innovation within a responsible, regulation‑first framework.

The Game of the Year win at the SBC Europe Awards further strengthens Play’n GO’s position as the leading supplier of premium casino entertainment, following a year defined by landmark launches, creative ambition and industry recognition.

The post Reactoonz 100 Crowned Game of the Year appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Cafrino Gaming

Cafrino Gaming Appoints Stephen Crystal as Chief Commercial Officer

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Cafrino Gaming is entering a new phase of commercial expansion, and it starts with leadership.

We’re excited to welcome Stephen A. Crystal as Chief Commercial Officer of Cafrino Gaming, a move that brings one of the most experienced and globally connected leaders in the gaming industry directly into our growth strategy.

With more than three decades at the forefront of gaming innovation, Stephen has played a pivotal role in shaping everything from tribal and riverboat gaming to modern iGaming and sports betting ecosystems. His career spans the ownership of iconic Las Vegas properties, the development of U.S. operations for major international bookmakers, and the execution of over $3 billion in project finance, M&A, and gaming technology initiatives.

As Founder of SCCG Management, Stephen has built one of the most respected advisory firms in the industry, supporting more than 120 client partners across 100+ countries. His work has consistently focused on scaling emerging technologies, unlocking new markets, and building high-impact partnerships across the global gaming landscape.

Now, he brings that experience directly to Cafrino.

A Leadership Move Built for Scale

Stephen’s appointment marks a strategic step forward as Cafrino accelerates its global commercial efforts.

In his role as Chief Commercial Officer, he will lead:

  • Global commercial strategy and revenue growth
  • Strategic partnerships and market expansion
  • Key account development and deal execution

His experience building large-scale distribution networks and navigating complex gaming markets positions Cafrino to expand faster, partner smarter, and execute at a higher level across regions.

This is not just about adding leadership, it’s about embedding proven global execution into the core of Cafrino’s growth engine.

Aligning Vision with Opportunity

Throughout his career, Stephen has consistently been at the center of industry evolution, from early casino development to today’s rapidly expanding digital gaming ecosystem.

He has secured major partnerships with professional sports organizations, helped establish sports betting frameworks within tribal markets, and worked across both emerging and regulated jurisdictions worldwide.

That perspective is critical as Cafrino continues to scale its poker platform across:

  • Social and free-to-play environments
  • Sweepstakes and promotional models
  • Crypto and Web3 gaming platforms
  • Real-money gaming operators

With a deep understanding of both legacy gaming infrastructure and next-generation technology, Stephen’s leadership helps bridge where the industry has been with where it’s going.

Powering the Next Phase of Cafrino Gaming

Cafrino’s poker platform has already reached more than 2 million players, supporting experiences for globally recognized brands including WWE, Hustler Casino, South Point Casino, and CardPlayer Poker.

As demand for flexible, scalable poker solutions continues to grow, Cafrino is focused on expanding its reach and strengthening its position as a leading provider of poker technology for operators worldwide.

Bringing Stephen Crystal into the organization is a clear signal of that direction.

Looking Ahead

This marks the beginning of a new chapter for Cafrino Gaming.

With Stephen leading commercial strategy, we are positioned to accelerate growth, deepen partnerships, and expand into new markets with greater precision and impact.

We’re excited for what’s ahead, and we’re just getting started.

The post Cafrino Gaming Appoints Stephen Crystal as Chief Commercial Officer appeared first on Americas iGaming & Sports Betting News.

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“90s”

BETBY launches “90s”, a new retro-inspired genre within BETBY Games

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BETBY,  the leading sportsbook supplier, has announced the launch of “90s”, a new genre within its proprietary esports feed, BETBY Games, bringing exclusive retro-inspired content to operators and players.

Designed around the look and feel of classic 90s video games, the new genre introduces a lineup of e-sims that take players back to the pixel era, combining retro-inspired visuals with the simplicity and high-frequency betting mechanics that define BETBY Games. While many modern esports products focus on realism and

advanced graphics, 90s takes a different approach by returning to the roots of gaming, transforming familiar retro aesthetics into a fully optimised betting experience.

The launch responds to a growing demand for greater content variety within sportsbook environments, particularly products that can deliver constant engagement beyond traditional live sports schedules.

With 1-minute match formats, 24/7 availability, and quick settlements, “90s” is designed to offer operators a new layer of always-on entertainment while maintaining the speed and betting intensity that define BETBY.Games.

One of the key strengths of “90s” lies in its distinctive positioning within the modern iGaming market.

By bringing retro-inspired game formats into a fully betting-ready environment, BETBY is offering operators access to a type of content that is rarely available today, creating a differentiated experience inspired by the iconic titles and visual style that shaped a generation of players.

The first wave of titles includes eBasketball’98, eBaseball’95, eTennis’89, and eFighting’93, each bringing its own distinctive retro identity while being fully integrated with modern betting mechanics.

The collection covers a mix of major sports and fighting content, combining familiar retro gaming cues with formats built specifically for sportsbook performance.

eFighting’93 introduces a format that complements BETBY Games’ existing eFighting portfolio, offering fast-paced matchups and simple winner markets across 6,000 monthly matches.

eBasketball’98 delivers a dynamic format featuring a high-speed 1v1 shootout between two players at a single hoop.

Bettors can place wagers on the top scorer, point handicaps, total points, and individual point counts, with the title delivering 6,000 matches per month. eBaseball’95 condenses baseball into a

high-intensity 1-inning format, offering 5,000 monthly events across 1×2, handicap, and totals markets. Completing the lineup, eTennis’89 brings an ultra-fast tennis format focused on single-game action, with 6,000 monthly matches and winner markets.

Inspired by the visual identity of the 8-bit and 16-bit eras, “90s” creates a product that feels instantly recognisable to players who grew up with this style of gaming, while also offering younger audiences a distinctive and visually engaging alternative to conventional esports content.

“90s is an exciting new direction for BETBY Games because it brings something completely different to sportsbooks,” said Kirill Nekrasov, Head of Innovation & R&D at BETBY.

“There is still a very strong emotional connection around retro games, from the pixel art to the sounds and the simplicity of the gameplay.

We wanted to take that nostalgia and transform it into a product that works for modern betting: fast, clear, engaging, and available around the clock.”

“Our goal was to increase content diversity for our partners. Operators need engagement tools that work 24/7, and the “90s” genre provides a unique, fast-paced solution.

This initial launch is just the start, as we will continue to expand the portfolio with a wider mix of 90s-themed sports and casual titles,” he added.

The launch of 90s further strengthens BETBY.Games’ position as one of the most innovative proprietary esports feeds in the market, offering operators a broad portfolio of fast-betting content designed to drive engagement, increase event volume, and deliver a differentiated sportsbook experience.

BETBY

 BETBY is a leading B2B provider of top-tier sports betting services, renowned for its groundbreaking technology and dedication to excellence.

BETBY’s team of industry veterans tap into their knowledge and expertise to deliver a premium, adaptable, and scalable sportsbook platform tailored to meet the varied demands of operators across the globe.

From dynamic in-play betting options to robust risk management tools and ground-breaking AI tools, BETBY is committed to propelling the success of its partners in the rapidly evolving landscape of online sports betting.

The post BETBY launches “90s”, a new retro-inspired genre within BETBY Games appeared first on Americas iGaming & Sports Betting News.

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