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

Published

4 years ago

August 12, 2021

George Miller

Reading Time: 3 minutes

“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%.

Boomerang Partners

Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase

Published

2 hours ago

February 4, 2026

Wladimir P.

boomerang-partners-prepares-a-major-affiliates-activation,-time-to-win,-as-the-year-of-sports-enters-its-hot-phase

As the global sports calendar enters one of its most intense and opportunity-rich periods, Boomerang Partners is preparing an activation designed to capture the full attention of affiliate teams worldwide. The agency has released a teaser video featuring players from AC Milan, its Official Regional Partner, signaling the upcoming launch of TIME TO WIN — an exclusive initiative built specifically for affiliates.

The video, already sparking anticipation across the industry, delivers two clear messages: TIME TO WIN and Save the date. The full reveal is scheduled for February 12.

More Than a Campaign

Although details remain tightly under wraps, one thing is already evident: TIME TO WIN is not a conventional affiliate campaign or a one-off promotion. The teaser features AC Milan stars Ruben Loftus-Cheek, Alexis Saelemaekers, Christian Pulisic, Adrien Rabiot, and Rafael Leão — stopping just short of revealing what’s coming next.

Behind the scenes, TIME TO WIN appears to be a carefully engineered project built at the intersection of elite sport, affiliate expertise, and precise timing. It reflects Boomerang Partners’ long-term strategy of supporting affiliates during the most competitive moments of the sports season, where speed, readiness, and execution make the difference.

Powered by One of Football’s Most Iconic Clubs

The involvement of AC Milan is no coincidence. As Boomerang Partners’ Official Regional Partner, the club plays a central role in the TIME TO WIN concept, bringing global prestige, massive reach, and elite sporting credibility.

This partnership allows affiliate teams to align with one of the most recognizable football brands in the world, blending top-tier football energy with performance-driven marketing opportunities. As part of the broader collaboration, Boomerang Partners and AC Milan are preparing multiple initiatives throughout the season — including exclusive experiences, high-impact campaigns, and the launch of the AC Milan Hub, a dedicated portal centralizing all partnership-related activities.

Preparation Makes the Difference

While the full scope of TIME TO WIN will only be revealed on February 12, affiliates can already prepare by leveraging Boomerang Partners’ Sports Marketing & Betting Calendar 2026. This expert resource is designed to help partners anticipate peak moments, plan campaigns in advance, and make smarter decisions when competition is at its highest.

A Critical Window for Affiliates

The timing of TIME TO WIN aligns perfectly with one of the busiest stretches of the sports year. February and March feature a packed schedule of global events, including:

The Olympic Winter Games Milano Cortina 2026
UEFA Champions League knockout stages
Men’s Basketball World Cup Qualifiers
Major tennis tournaments such as Indian Wells and the Miami Open

For affiliate teams, this period demands precision, rapid execution, and well-timed activations — exactly where TIME TO WIN is positioned to deliver a strategic edge.

What Affiliates Can Expect

While Boomerang Partners is keeping the finer details confidential for now, expectations are high. TIME TO WIN is shaping up to be one of the most ambitious and exclusive affiliate activations of the 2026 sports season — a high-impact opportunity designed for teams ready to perform when it matters most.

The wait won’t be long. Full details of TIME TO WIN will go live on February 12 via the Boomerang Partners website.

Stay tuned.

About Boomerang Partners

Boomerang Partners is a fast-growing global marketing agency delivering a wide range of affiliate and entertainment services. An Official Regional Partner of AC Milan, the agency launched the Golden Boomerang Awards in 2024 — a global affiliate tournament that attracted more than 400 teams in its second season in 2025.

Between 2024 and 2025, Boomerang Partners’ clients launched six new products, driving nearly 1.5x growth in product users. The agency’s portfolio includes more than 10 brands operating across 40+ regulated markets, offering personalized bonuses and 24/7 multilingual support.

The post Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Boomerang Partners

Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase

Published

2 hours ago

February 4, 2026

GamingAmericas.com

As the global sports season enters one of its peaks, Boomerang Partners is preparing a move designed to attract the full attention of affiliate teams. The company has released a teaser video featuring players of its Official Regional Partner, AC Milan. Thus, it hints at the upcoming launch of TIME TO WIN – an exclusive activation for affiliates.

Not a standard campaign

While full details remain undisclosed, the first glimpse of TIME TO WIN has already set the tone. In the teaser video, AC Milan stars Ruben Loftus-Cheek, Alexis Saelemaekers, Christian Pulisic, Adrien Rabiot, and Rafael Leão stop short of revealing anything beyond two signals: TIME TO WIN and Save the date. One thing is already clear: this is not a standard campaign or a one-off activation. Based on our insights, it will be a project built at the intersection of elite sport, affiliate expertise, and a deep understanding of peak interest in major sports events, where speed of execution, precise timing, and strategic readiness define results. Designed with these factors in mind, TIME TO WIN reflects Boomerang Partners’ long-term approach to supporting affiliate partners during the most competitive phases of the sports calendar.

A partnership with one of football’s most iconic clubs

The connection with AC Milan is no coincidence. As Boomerang Partners’ Official Regional Partner, the Club is an integral part of the TIME TO WIN concept, lending its world-class sporting prestige and global reach. This collaboration allows affiliate teams to engage with one of the most recognized football brands in the world, combining the excitement of top-level football with marketing opportunities designed for peak performance.

Through this partnership, Boomerang Partners and AC Milan are preparing a series of initiatives throughout the season, including exclusive experiences, high-impact campaigns, and the launch of the AC Milan Hub – a unique portal providing centralized access to all the activities related to the Boomerang and AC Milan partnership.

Preparation is key

While we don’t yet know exactly what Boomerang Partners will launch on February 12th, we believe the company’s Sports Marketing & Betting Calendar 2026 will assist partners in this regard. This expert guide enables affiliate teams to prepare ahead of the hottest moments of the sports season and make more informed decisions when it matters most.

A peak period for affiliates

The timing of this activation is no coincidence. February and March mark one of the peak periods of the sports season, with major events such as the Olympic Winter Games Milano Cortina 2026, the UEFA Champions League knockout rounds, men’s basketball World Cup Qualifiers, and top-tier tennis tournaments like the Indian Wells Masters and the Miami Open. For affiliate teams, these weeks require careful planning, timely campaign setup, and fast execution. This is exactly the time when participation in TIME TO WIN offers a strategic advantage.

What affiliates can expect

Participation in TIME TO WIN offers affiliate teams a chance to engage with one of the most anticipated initiatives of the 2026 sports season. While full details remain under wraps, the scale and ambition of the activation are already clear: it will be a high-impact, exclusive opportunity that affiliates won’t want to miss.

So what’s coming next? The answer will be revealed on February 12, when full details of the TIME TO WIN activation go live on the Boomerang Partners website. Stay tuned.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is an Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards – a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Partners of the Agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The agency’s client portfolio contains 10+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.

The post Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase appeared first on Americas iGaming & Sports Betting News.

Latest News

Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase

Published

2 hours ago

February 4, 2026

Master Editor

Not a standard campaign

A partnership with one of football’s most iconic clubs

Preparation is key

A peak period for affiliates

What affiliates can expect

So what’s coming next? The answer will be revealed on February 12, when full details of the TIME TO WIN activation go live on the Boomerang Partners website. Stay tuned.

About Boomerang