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

Published

5 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%.

FEG

GoldenRace and Spinmatic Partner with Fortuna Entertainment Group in Major CEE Expansion

Published

23 minutes ago

February 12, 2026

Wladimir P.

goldenrace-and-spinmatic-partner-with-fortuna-entertainment-group-in-major-cee-expansion

GoldenRace and Spinmatic have officially partnered with Fortuna Entertainment Group (FEG), a leading omni-channel betting and gaming operator, representing a significant milestone for the Central and Eastern European (CEE) gaming market.

FEG operates in five major European nations—Czechia, Poland, Slovakia, Croatia, and Romania—holding a leading position in both online and physical retail markets. This collaboration introduces top-tier Virtual Sports and exceptional casino games to a large audience, enhancing the expansion and robustness of GoldenRace and Spinmatic throughout the continent.

“We are delighted to bring our industry-leading Virtual Sports and Crash games, and Spinmatic’s innovative casino games to Fortuna Entertainment Group. FEG is a true powerhouse in Central and Eastern Europe and this partnership is a testament to our commitment to strengthening our presence in regulated European markets. Our focus for the year ahead remains clear: to continue pushing the boundaries of technology and realism, ensuring our partners always have the most competitive and engaging products in the industry,” said Martin Wachter, CEO and Founder of GoldenRace.

Myke Foster, Group Head of Commercial Gaming Operations at FEG, highlighted: “This strategic partnership will bring a wealth of new content and experiences to FEG customers, across our Fortuna, PSK & Casa Pariurilor brands, in our highly competitive & fully-regulated markets across CEE. We are committed to bringing our audience an unrivalled array of new and exclusive products, whilst offering genuine differentiation- and this collaboration with Spinmatic & GoldenRace will see us reinforce our unique offering across Slots, Virtuals, Crash Games, Scratchcards & more.”

Players of Fortune Entertainment Group are the true victors in this arrangement. They currently have access to a range of products aimed at enhancing engagement to the fullest:

●GoldenRace Virtual Sports: FEG customers can enjoy 24/7 action with GoldenRace’s legendary Virtual Football, virtual and pre-recorded races, Crash games, number games, and more, including the recent and very innovative category, Hit&Win, with Arcade Heist and Fortune Fighters as the first two additions to this vertical.
●Spinmatic’s Casino games: A suite of over 100 games available for FEG players to enjoy, including premium Slots, Bingo, Scratchcards, Plinko and Crash games.

As 2026 unfolds, the collaboration among GoldenRace, Spinmatic, and FEG is poised to transform the betting experience for millions of players in Central Eastern Europe.

The post GoldenRace and Spinmatic Partner with Fortuna Entertainment Group in Major CEE Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Charles Mott CEO & Co-Founder at S Gaming

S Gaming ignites US expansion with Fanatics Casino partnership

Published

23 minutes ago

February 12, 2026

GamingAmericas.com

s-gaming-ignites-us-expansion-with-fanatics-casino-partnership

In-demand slot provider adds yet another top tier brand to its growing list of operator partners in the US market

S Gaming, the provider of highly entertaining online slot and casino games, continues to build momentum in the US market having signed on the dotted line with tier one operator, Fanatics Casino.

Under the deal, Fanatics Casino will exclusively launch the studio’s hugely popular Triple 7 Jackpot slot to players in regulated iGaming states including New Jersey, Pennsylvania, West Virginia and Michigan.

So what can players expect when they fire up the reels on Triple 7 Jackpot?

Triple 7 Jackpot is a classic slot dripping in neon action. The Triple 7 feature is always on screen but is locked until a spin lands three Bonus 7 symbols. This unlocks the feature with one spin awarded, giving players a shot at the 500x Jackpot prize.

Free Spins are also up for grabs with seven Free Games awarded when three Scatters land in the base game.

The deal with Fanatics Casino marks the next step in the studio’s ambitious plans for the US – a market where the sustainable entertainment and casual gameplay its slots provide is already proving to be a hit with players.

Charles Mott, CEO & Co-Founder at S Gaming, said: “Fanatics Casino needs no introduction and is one of the power player brands in the regulated US market.”

“We couldn’t be happier to see Triple 7 Jackpot land in its casino lobby and for players in states such as New Jersey, Pennsylvania, West Virginia and Michigan to take it for a spin for the first time.”

“We now have two top-tier operator partners in the US (Fanatics and BetMGM) and look forward to putting pen to paper on even more deals over the coming months.”

Kieron Shaw, Senior Manager, Fanatics Casino, added: “At Fanatics Casino, we are looking to build our portfolio of games to better enhance the player experience, and that’s why we continue to strike partnerships with pioneering studios like S Gaming.”

S Gaming brings something a little different to our portfolio thanks to its ethos around fun, while still delivering plenty of thrills and big win potential.”

The post S Gaming ignites US expansion with Fanatics Casino partnership appeared first on Americas iGaming & Sports Betting News.

Latest News

Top Sports Events & Promos by N1 Partners: Where to Drive Tier-1 Traffic in February

Published

11 hours ago

February 11, 2026

Wladimir P.

top-sports-events-&-promos-by-n1-partners:-where-to-drive-tier-1-traffic-in-february

February presents one of the strongest seasonal windows for affiliates working with Tier-1 sports traffic — and N1 Partners is expanding the opportunities even further.

The affiliate program has strengthened its sports offering by making betting available across three brands: the flagship N1 Bet, alongside RollXO and Lucky Hunter. This multi-brand setup allows partners to scale sports traffic strategically while leveraging casino brands with proven conversion performance.

Instead of relying on a single product, affiliates can now diversify traffic flows, stabilize KPIs, and combine sports, casino, and seasonal promotional mechanics for stronger long-term results.

Why February Is a Prime Month for Sports Traffic

Conversion stability often depends on timing. Campaigns aligned with seasonal peaks, major sporting events, and emotionally engaging dates consistently outperform generic traffic launches.

February stands out due to:

A packed schedule of top European football leagues and international tournaments
The Winter Olympic Games
Valentine’s Day seasonal campaigns
Increased emotional engagement and deposit intent

During high-profile events and holiday periods, users are more likely to deposit, participate in promotions, and return to the platform. The right contextual hook can directly influence conversion rate, average deposit size, and retention.

To help affiliates capitalize on this momentum, N1 Partners has prepared a focused list of key February sports events and active promotional mechanics.

Key Sports Events in February 2026

11 February

Coppa Italia Quarter-final: Bologna vs Lazio
Olympic Ice Hockey: Slovakia vs Finland
Premier League: Manchester City vs Fulham
DFB Pokal Quarter-final: Bayern Munich vs RB Leipzig
NBA: Houston Rockets vs LA Clippers
Copa Libertadores Qualification Quarter-finals (2nd legs)

12 February

Olympic Ice Hockey: Czech Republic vs Canada
Premier League: Brentford vs Arsenal
NBA: Orlando Magic vs Milwaukee Bucks
EuroLeague Regular Season (Round 28)
Rugby Super League (England & France)

13 February

Olympic Ice Hockey: Canada vs Switzerland
NBA: Oklahoma City Thunder vs Milwaukee Bucks
German Handball Bundesliga

14 February (Valentine’s Day Peak)

Olympic Ice Hockey: USA vs Denmark
FA Cup Round of 16
Bundesliga: Werder Bremen vs Bayern Munich
France Top 14 Rugby
Liga ASOBAL (Spain)
Liga ACB (Spain)

15 February

Olympic Ice Hockey: Switzerland vs Czech Republic
Serie A: Inter vs Juventus
Serie A: Napoli vs Roma
Serie A: Lazio vs Atalanta
LaLiga: Girona vs Barcelona
LaLiga: Real Madrid vs Real Sociedad
Ligue 1: Marseille vs Strasbourg
Ligue 1: Rennes vs PSG
NBA All-Star
WTA 1000 Dubai – Dubai Duty Free Tennis Championships

This density of premium events creates multiple testing angles for creatives, pre-landers, and geo-targeted funnels.

Valentine’s Day Promotions Across N1 Partners Brands

To enhance conversion rates during peak emotional engagement, N1 Partners is launching seasonal campaigns across key brands.

Valentine’s Advent Calendar (N1 Bet & RollXO)

Period: 13–17 February

Five days of engagement mechanics:

13.02 – Love Box: prize up to €15,000
14.02 – Valentine’s Riddle Offer: 100% bonus up to €500 + 150 FS
15.02 – Sunday Challenge: 50% bonus on the 3rd deposit
16.02 – Road to Free Spins: 30 FS for every €350
17.02 – Fortune Lottery Series: €63,000 prize pool

Cupid Mailbox Lottery (Lucky Hunter)

Period: 9–14 February

28 winners
Grand prizes include a trip to Paris
€6,400 + 1,400 Free Spins prize pool

These mechanics integrate smoothly into sports-driven funnels and allow affiliates to increase average deposit value and session frequency.

Why This Strategy Works for Tier-1 Affiliates

Seasonal and event-driven campaigns help partners:

Increase average deposit size
Improve LTV through repeat engagement
Offset typical mid-quarter CR slowdowns
Enhance emotional appeal through contextual offers
Diversify revenue streams across sports and casino

In competitive Tier-1 markets, product-driven campaigns and structured promotions help stabilize performance and make scaling more predictable.

What Affiliates Should Do Now

February combines major football clashes, Olympic hype, NBA spotlight events, and Valentine’s promotions into one high-conversion window.

Now is the time to:

Drive sports traffic to top European leagues and Olympic matchups
Integrate Valentine’s promotions into creatives
Split-test traffic between N1 Bet, RollXO, and Lucky Hunter
Use seasonal hooks to strengthen CTR and deposit intent

The N1 Partners team provides updated promotional materials, analytics support, and personalized optimization guidance tailored to traffic volumes.

About N1 Partners

N1 Partners is a multi-brand affiliate platform and direct advertiser uniting 14+ casino and betting brands across Tier-1 GEOs.

Key highlights:

Reg2Dep rates up to 70%
CPA up to €700
RevShare up to 45%
14,000+ active partners
Dedicated affiliate management and long-term performance focus

More than just an affiliate program, N1 Partners delivers a performance-driven ecosystem designed to help affiliates scale sustainably in competitive markets.

The post Top Sports Events & Promos by N1 Partners: Where to Drive Tier-1 Traffic in February appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.