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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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Altenar
Altenar Extends Sportsbook Partnership with Anakatech Following Strong Growth
Altenar, a leading sportsbook platform provider, and Anakatech Interactive Limited have agreed to extend their long-term sportsbook technology partnership, reinforcing continued collaboration across key regulated markets.
Anakatech Interactive Limited, established in 2013, develops a powerful gaming platform built in-house with its own game studios producing 220+ online and mobile-friendly scratch, slot, crash, table and lottery games, and this broader gaming expertise underpins its growing sportsbook and casino operations.
The partnership spans key regulated markets, with a strong focus on the UK, where Anakatech operates brands such as Betnero and Luckymate.The renewal reflects strong commercial performance and sustained business growth driven by the partnership.
Under the agreement, Anakatech will continue to leverage Altenar’s fully managed sportsbook solution across its portfolio, supporting both existing brand expansion and the planned launch of new brands.
The decision to extend the partnership was driven by solid performance and consistent month-on-month growth, with Anakatech achieving more than 103% growth over the past 18 months while operating on Altenar’s platform.
The deal also reflects Anakatech’s confidence in Altenar’s stable and scalable environment, with the operator also highlighting the value of receiving not only core platform delivery, but also tailored support aligned with its specific business needs.
Altenar provides Anakatech with a fully managed sportsbook solution including:
- End-to-end sportsbook platform management
- Advanced risk management tools
- Customised betting markets
- 24/7 operational and technical support
- Ongoing product enhancements and feature development aligned with operator needs
Vasilis Betzelos, Head of Commercial Account Managers at Altenar, said: “We are pleased to continue our partnership with Anakatech Interactive Limited. The growth they have achieved demonstrates the strength of the collaboration, and we remain committed to supporting their continued expansion across existing and new brands.”
Ivan Di Pieri, Head of Sportsbook at Anakatech, said: “Adding a sportsbook vertical to our range of services has been a long-considered move. We are pleased to partner with one of the industry’s top providers and are confident that our offering will continue to improve over time.”
The post Altenar Extends Sportsbook Partnership with Anakatech Following Strong Growth appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Baltics
HIPTHER Baltics 2026 Concludes Landmark Three-City Series, Bringing Together 430 Industry Leaders
HIPTHER proudly concludes the inaugural edition of its expanded HIPTHER Baltics 2026 conference series, successfully bringing together a total of 430 participants across three dedicated events in Vilnius, Riga, and Tallinn.
Building on the legacy of the MARE BALTICUM Gaming & TECH Summit and introducing a new, country-focused format, HIPTHER Baltics 2026 delivered three high-impact conferences designed around the most pressing regulatory, technological, and business developments shaping the Baltic and Nordic regions. The series focused on creating meaningful dialogue between regulators, operators, fintech leaders, technology innovators, legal experts, investors, and compliance professionals.
The 2026 edition featured:
- HIPTHER Baltics: Vilnius – iGaming Regulation & Fintech Integration
- HIPTHER Baltics: Riga – Cross-Border Compliance & Player Protection
- HIPTHER Baltics & Nordics: Tallinn – Digital Governance & Startup Innovation
Vilnius: Exploring Lithuania’s Regulatory Transformation
The series launched on 21 April in Vilnius, where discussions focused on Lithuania’s evolving regulatory landscape and the increasing convergence of fintech, payments, blockchain, and iGaming.
Industry leaders examined topics including MiCA implementation, AML requirements, digital assets, banking transformation, tokenisation, AI adoption in financial services, next-generation payments, and the growing role of compliance in sustainable business growth. The event marked the beginning of a new chapter for Baltic-focused industry conversations and set the tone for the months ahead.
Riga: Regulation, Risk and Growth in a Changing Market
On 11 May, HIPTHER Baltics arrived in Riga, bringing together experts from gaming, fintech, legal, compliance, and technology sectors for a day dedicated to practical business realities.
Key conversations addressed responsible gaming, player protection, AML implementation, fraud prevention, AI in supervision and taxation, payments innovation, cross-border licensing, data protection, affiliate marketing, and the transition from traditional SEO to AI-powered discoverability. The Riga edition highlighted how businesses can remain compliant while continuing to innovate and grow in increasingly regulated environments.
Tallinn: Digital Governance Meets Innovation
The series concluded on 2 June in Tallinn, one of Europe’s most digitally advanced capitals.
The event explored the intersection of digital governance, startup ecosystems, digital identity, compliance, investment, fintech innovation, and iGaming. Discussions ranged from eIDAS 2.0 and trusted digital onboarding to sustainable player acquisition, operational partnerships, AI-powered business growth, and the future of digital societies.
Tallinn also hosted the HIPTHER Baltic & Nordics Gaming Awards 2026, celebrating excellence across operators, suppliers, technology providers, and industry leaders from the Baltic and Nordic regions.
Beyond Conferences: Building a Regional Community
Throughout all three events, participants benefited from curated networking opportunities and practical learning sessions through the HIPTHER Academy, HIPTHER’s educational platform focused on delivering hands-on skills, professional development, and industry certifications.
The combination of boutique-format events, high-level content, and meaningful networking once again demonstrated why the Baltics continue to attract increasing attention as a hub for innovation, regulation, and cross-border collaboration.
Looking Ahead – HIPTHER Baltics 2027
Reflecting on the success of the series, Zoltan Tündik, Co-Founder and Head of Business at HIPTHER, commented: “We are incredibly proud of what we achieved across the Baltics in 2026, but this is only the beginning. The success of the three-city series has provided us with valuable insights, feedback, and inspiration that we are already incorporating into the planning of HIPTHER Baltics 2027. The Baltics have a unique energy when it comes to business events, innovation, and networking, and we are excited to continue growing alongside this vibrant community. Our commitment remains the same: delivering meaningful conversations, practical learning opportunities, and exceptional networking experiences that bring together the region’s most influential stakeholders.”
After the successful completion of HIPTHER Baltics 2026 and the overwhelmingly positive feedback received from participants, the #hipthers team is already working on an exciting and enhanced next edition.
With the HIPTHER Warsaw Summit set to take place on 27–28 October 2026 and an ambitious roadmap for 2027–2030 already taking shape, HIPTHER continues its mission of connecting industries, markets, and ideas through premium learning, meaningful networking, and cross-border collaboration across Europe.
About HIPTHER
HIPTHER is a media hub and events organizer serving the Gaming and Technology industries, including Fintech, Blockchain, Crypto, AI, Cybersecurity, Compliance, and Digital Innovation. Through its conferences, media platforms, awards programs, and community initiatives, HIPTHER connects decision-makers, innovators, regulators, and business leaders across Europe and beyond.
The post HIPTHER Baltics 2026 Concludes Landmark Three-City Series, Bringing Together 430 Industry Leaders appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
iGaming
NyesteCasino.com Reports: iGaming Industry Navigates Dual Pressures of Regulation and Growth
Norwich, United Kingdom, June 15th, 2026, PlayNewswire
NyesteCasino.com, a leading iGaming analysis resource, released its latest industry overview, highlighting a week defined by intensifying regulatory scrutiny alongside continued global market expansion.
From U.S. Senate hearings and a widening circuit split to the localisation of crypto casinos and a surge in World Cup betting activity, iGaming operators have been balancing risk management with aggressive growth strategies.
Over the past week, the global iGaming sector has faced two powerful and often conflicting forces. Regulators across the United States, Europe, Southeast Asia, and South America have tightened rules around prediction markets, sweepstakes casinos, and credit card usage for deposits. At the same time, online gambling platforms, content providers, and policy advisors have accelerated product innovation and executed timely, region-specific sports marketing campaigns.
According to NyesteCasino.com’s team, these developments signal a broader structural transition across the industry—one in which compliance agility is rapidly becoming as critical to success as product quality. Despite increasing regulatory headwinds, the pace of innovation and market demand continues to point toward sustained sector growth.
Prediction Markets: Courtrooms, Congress, and Cross-Border Bans
The week started with a long-awaited US Senate Commerce Subcommittee gathering. The hearing named “No Sure Bets” took place on May 20 under Chair Marsha Blackburn, and Blackburn indicated more sessions were to come. The debate between American Gaming Association CEO Bill Miller and former Congressman Patrick McHenry quickly turned into a clash over the future of prediction markets. While Miller named the sports event contracts as backdoor betting operations bypassing the state licences, tax regulations, and integrity safeguards, McHenry talked on behalf of the Coalition for Prediction Markets and opposed him, stating that the current CFTC supervision is working perfectly.
On 22 May, a panel from the Ninth Circuit rejected the stay requests filed by both Kalshi and Polymarket, refusing to halt state enforcement proceedings in Nevada and Washington, which complicated the legal situation even more. The court ruled that a federal preemption defence under the Commodity Exchange Act cannot, on its own, establish federal jurisdiction. The ongoing disagreement in the appeals court of New Jersey, which had previously upheld a Kalshi injunction, has gained strength with this decision. Moreover, the process leading to a Supreme Court review of state jurisdiction over event contracts has accelerated even more.
Indonesia’s Ministry of Communication and Digital Affairs categorised Polymarket as an online gambling site, disregarding its crypto-based structure, and has requested a national ban on the market platform on May 25. The reason for this request was a viral contract regarding whether President Prabowo Subianto would resign before the end of his term in October 2029. The contract generated a trading volume of approximately $46,000. The number of jurisdictions where Polymarket is inaccessible is growing, exceeding 33 around the world now, including India, Brazil, and Singapore, among other new blockers.
State-Level Regulations: An Anti-Sweepstakes Bill from Tennessee
There have also been state-level restrictions in Tennessee on online gambling law. During the same week, Governor Bill Lee signed two vital bills. Senate Bill 2136 made Tennessee the ninth US state banning sweepstake casinos and dual-currency systems completely, which grants the attorney general the power to enforce it. And according to the SB 1992, the second bill signed by the governor, anyone who deliberately influences the outcome of an event whilst holding a prediction market contract will be charged with a Class E felony. It is expected that these bills will guide other state legislatures who are planning similar regulations at the moment.
Europe and Brazil: Tax Proposals, Ad Restrictions, and Credit Bans
The European Parliament held a plenary debate on May 20 on a proposed EU-level gambling levy. Budget Commissioner Piotr Serafin confirmed the Commission is actively assessing the option alongside digital services and crypto-asset levies as part of the next Multiannual Financial Framework. Proponent MEP Victor Negrescu estimated the levy could raise between €2 and €4 billion annually for education, youth, and addiction prevention programmes. Opponents from EPP and ECR blocs raised concerns over subsidiarity, competitiveness, and national tax sovereignty, with any operational package targeted for January 2028.
Belgium’s Kansspelcommissie and the Netherlands Gambling Authority separately issued formal World Cup advertising warnings to licensed operators ahead of the June 11 to July 19 FIFA tournament. France’s ANJ flagged a year-on-year rise of more than 25% in operator marketing budgets as the tournament approaches. Meanwhile, Brazil formalised rules on May 25 to close off Pix Crédito as a deposit method on regulated betting platforms, a move prompted in part by a Folha de São Paulo audit revealing that major banks including Bradesco and Banco do Brasil, were still processing credit transfers into betting accounts as recently as mid-May.
Editorial Perspective
“What this week makes clear is that the iGaming sector is entering a phase where regulatory IQ is as strategically important as product development,” said the editorial team at NyesteCasino.com. “The prediction markets debate alone spans courtrooms, congressional hearings, and international bans and it is far from resolved. Operators who can track and adapt to this multi-jurisdictional complexity while still executing on World Cup campaigns and localisation strategies will be best positioned for the second half of 2026.”
About NyesteCasino.com
NyesteCasino.com is a leading independent iGaming review and analysis platform. The editorial team tracks regulatory developments, operator news, and product releases across global markets to help players and industry professionals navigate the evolving online casino landscape. Users can learn more at nyestecasino.com.
Contact
Author
Anita Haugen
Nyestecasino
The post NyesteCasino.com Reports: iGaming Industry Navigates Dual Pressures of Regulation and Growth appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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