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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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Blueprint Gaming upgrades Super Graphics Upside Down for Lottomart exclusive

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The updated slot launches on Lottomart for UK players on 23rd July with a new bonus wheel and higher max win.

Blueprint Gaming is releasing an upgraded version of Super Graphics Upside Down exclusively on Lottomart from 23rd July, giving Lottomart’s UK players early access to the title.

Originally launched in 2021, Super Graphics Upside Down is being re-released with a new bonus wheel feature and an increased max win potential, rising from 250X to 3000X, according to the companies.

Chris Ruddock, Commercial Director at Lottomart, said:

“Securing an early release exclusive on the new Super Graphics Upside Down is another exciting milestone for Lottomart. Blueprint Gaming has upgraded a fantastic game with engaging new features and bigger win potential, and we’re delighted to offer this game exclusively to our UK players.”

Elliott Kyne, Account Manager at Blueprint Gaming, said:

“We’re delighted to support Lottomart with the exclusive UK launch of Super Graphics Upside Down. It’s also pleasing to see our partnership continue to go from strength to strength, and Lottomart’s impressive growth and UK focus has made them a match made in heaven for Blueprint’s content. We’re SUPER excited to bring this latest release to their players.”

The companies said the launch is part of their ongoing partnership, with Blueprint Gaming providing exclusive content as Lottomart expands its UK presence.

The post Blueprint Gaming upgrades Super Graphics Upside Down for Lottomart exclusive appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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AppsFlyer: UK app activity spikes on every goal during England knockout games

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Data tracks the semi-final loss to Argentina and third-place win over France, showing rising spend even on goals against England.

AppsFlyer on July 22, 2026 published new UK app activity data tied to England’s knockout-stage matches in 2026’s biggest global football tournament: a 1-2 semi-final loss to Argentina and a 6-4 win over France in the third-place match.

The company said the UK stood out in its seven-market study as the only market to show app activity spikes in response to its own team scoring during the knockout stage. “England fans lived two entirely different matches on their phones within a week. In the semi-final, activity spiked when England scored, the only time we saw a market react to its own team’s goal in the knockout stage, but the mood shifted fast once Argentina hit back, with fans clearly cooling as the game slipped away. In the third-place match, mobile surged and dipped with every goal in a high-scoring game, keeping engagement elevated throughout. Same fans, same phones, two completely different stories,” said Lex Nakad, GM, EMEA West, AppsFlyer.

AppsFlyer reported that Gordon’s opener in the semi-final drove app activity 21% above normal. Engagement peaked at half-time at 47% above normal, then Argentina’s equalizer triggered a 19% spike. By the time Argentina scored a stoppage-time winner, the reaction had dropped to 6%, which AppsFlyer said indicated deflating interest as the match turned.

In the third-place match, AppsFlyer said activity “surged and dipped with every goal” throughout the ten-goal game, including a 37% spike at the hydration break and a 25% lift “across the goals,” which it attributed to the volume of match action rather than a single moment.

On monetisation, AppsFlyer said purchases increased in both matches: up 31% in the semi-final and 59% in the third-place match. Per-app spend peaked at half-time (19%) in the semi-final and spiked again on Argentina’s late goals (18% to 20% on the equalizer, and 15% on the winner). Streaming was the top-performing category, up 183%. The company also said food delivery behaviour diverged by kickoff time, with activity up 11% pre-kickoff and peaking at 17% at half-time for the 8pm semi-final, but dropping 39% during the 10pm third-place match.

AppsFlyer said the analysis spans seven markets (US, Mexico, Canada, UK, France, Spain, Argentina) and 18 app categories, comparing match-day activity with a matched regular-day baseline at the same local-clock minute. The company noted the underlying app-market data is the United Kingdom (not an “England-only” cut), and that it is not quoting revenue or order size due to outliers.

The post AppsFlyer: UK app activity spikes on every goal during England knockout games appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Gamblers Connect names Gali Hartuv as seventh 2026 Contributors Program voice

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The Playa strategic advisor will publish on VIP operations, segmentation and retention, starting with an anonymous VIP Operations Survey 2026.

Gamblers Connect has confirmed Gali Hartuv, Strategic Advisor at The Playa, as the seventh voice to join its 2026 Contributors Program.

The independent B2B iGaming media platform said the programme will reveal one senior industry voice per month throughout 2026, with contributors publishing under the Gamblers Connect Contributor Editorial Code.

Gamblers Connect said Hartuv has more than 15 years’ experience in VIP management, including designing and optimising VIP programmes across more than 50 operator brands, and training “hundreds of professionals” now working in VIP roles across the industry.

Hartuv will publish across four areas: building VIP programmes that drive long-term value; AI-powered VIP identification and player segmentation; hyper-personalisation and retention strategy; and scaling VIP operations across different markets and cultures. His first contribution is a VIP Operations Survey 2026, an anonymous survey intended to benchmark how VIP teams work across iGaming operators, including portfolio sizing, tools, qualification thresholds, workflow standards and where time is spent during the week.

Partnerships and Operations Lead, Luka Dimitrijevic, said: “VIP management is where a great deal of an operator’s value is won or lost, and very few people can speak to it with Gali’s depth. He has spent his career turning high value player relationships into a discipline rather than guesswork, and he is refreshingly candid about what works and what does not. Through the Contributors Program he will share practical insight on VIP strategy, retention, and the smart use of AI, with content grounded in real results rather than recycled best practices.”

The post Gamblers Connect names Gali Hartuv as seventh 2026 Contributors Program voice appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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