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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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With less than two weeks remaining until N1 Sport Promo by N1 Partners comes to an end, the biggest sporting events of July are still ahead: the decisive matches of the FIFA World Cup 2026, the Wimbledon Final, the Formula 1 Belgian Grand Prix, and the closing stages of the Tour de France.
During this period, every additional FTD not only increases your overall payout but also boosts your CPA rate.
- SEO & PPC — +€50 CPA for every 10 FTDs, with no cap on CPA increases.
- Facebook, In-App, UAC, ASO, Email & SMS — +€10 CPA for every 30 FTDs, up to +€100 above your base CPA.
The full promotion terms are available via the link below.
The N1 Partners affiliate team has shared practical recommendations to help affiliates make the most of the final stage of the promotion.
Strengthen Campaigns That Already Deliver Results
The final weeks of N1 Sport Promo are the best time to increase the volume of successful campaigns and take full advantage of the promotion’s progressive CPA mechanics.
Focus on traffic sources and creatives that are already delivering consistent results. Their growth can be supported by expanding into additional GEOs, regularly refreshing creatives, keeping offers up to date, and reacting quickly to major sporting events.
Even a moderate increase in high-quality traffic can significantly improve your final payout: the more FTDs you generate before the promotion ends, the higher your CPA rate becomes.
Speed Is a Competitive Advantage
The strongest results typically come from campaigns launched ahead of key matches and kept relevant throughout the tournament. Preparing campaigns before kickoff and responding quickly to shifts in audience interest helps affiliates capitalize on peaks in sports traffic and generate more high-quality FTDs.
Mobile users deserve particular attention during this period, as a significant share of the audience engages with sports content while matches are taking place.
Player Activity Peaks in the Final Hours Before Kickoff
During major sporting events, many users register just a few hours before a match begins. That’s why timely creative updates and a strong focus on the tournament’s most anticipated fixtures are essential for maintaining campaign performance.
Key Sporting Events Before the Promo Ends
The sports calendar remains packed over the coming weeks:
- July 9 — France vs Morocco (FIFA World Cup 2026 Quarter-final);
- July 10 — Spain vs Belgium (FIFA World Cup 2026 Quarter-final);
- July 11 — Norway vs England (FIFA World Cup 2026 Quarter-final);
- July 14–15 — FIFA World Cup 2026 Semi-finals;
- July 19 — FIFA World Cup 2026 Final;
- July 12 — Wimbledon Final;
- July 19 — Formula 1 Belgian Grand Prix;
- Through July 26 — Closing stages of the Tour de France.
Each of these events traditionally drives spikes in search demand, social media engagement, and player interest. As a rule, the best-performing campaigns are those that are already delivering results. The final weeks of the promotion are the ideal time to strengthen them through continuous, data-driven optimization.
Looking for even more scaling opportunities? The N1 Partners team has also prepared a comprehensive July guide featuring the month’s biggest sporting events and practical recommendations to help affiliates plan campaigns more effectively and drive additional Tier-1 traffic.
If you haven’t joined N1 Sport Promo yet, contact your affiliate manager or reach out to LeadGen Chris and make the most of the final weeks of the promotion.
Why choose N1 Partners?
- 14+ casino and sportsbook brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top partners
Be number one with N1!
The post N1 Sport Promo: Earn More with Sports Traffic appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
With less than two weeks remaining until N1 Sport Promo by N1 Partners comes to an end, the biggest sporting events of July are still ahead: the decisive matches of the FIFA World Cup 2026, the Wimbledon Final, the Formula 1 Belgian Grand Prix, and the closing stages of the Tour de France.
During this period, every additional FTD not only increases your overall payout but also boosts your CPA rate.
- SEO & PPC — +€50 CPA for every 10 FTDs, with no cap on CPA increases.
- Facebook, In-App, UAC, ASO, Email & SMS — +€10 CPA for every 30 FTDs, up to +€100 above your base CPA.
The full promotion terms are available via the link below.
The N1 Partners affiliate team has shared practical recommendations to help affiliates make the most of the final stage of the promotion.
Strengthen Campaigns That Already Deliver Results
The final weeks of N1 Sport Promo are the best time to increase the volume of successful campaigns and take full advantage of the promotion’s progressive CPA mechanics.
Focus on traffic sources and creatives that are already delivering consistent results. Their growth can be supported by expanding into additional GEOs, regularly refreshing creatives, keeping offers up to date, and reacting quickly to major sporting events.
Even a moderate increase in high-quality traffic can significantly improve your final payout: the more FTDs you generate before the promotion ends, the higher your CPA rate becomes.
Speed Is a Competitive Advantage
The strongest results typically come from campaigns launched ahead of key matches and kept relevant throughout the tournament. Preparing campaigns before kickoff and responding quickly to shifts in audience interest helps affiliates capitalize on peaks in sports traffic and generate more high-quality FTDs.
Mobile users deserve particular attention during this period, as a significant share of the audience engages with sports content while matches are taking place.
Player Activity Peaks in the Final Hours Before Kickoff
During major sporting events, many users register just a few hours before a match begins. That’s why timely creative updates and a strong focus on the tournament’s most anticipated fixtures are essential for maintaining campaign performance.
Key Sporting Events Before the Promo Ends
The sports calendar remains packed over the coming weeks:
- July 9 — France vs Morocco (FIFA World Cup 2026 Quarter-final);
- July 10 — Spain vs Belgium (FIFA World Cup 2026 Quarter-final);
- July 11 — Norway vs England (FIFA World Cup 2026 Quarter-final);
- July 14–15 — FIFA World Cup 2026 Semi-finals;
- July 19 — FIFA World Cup 2026 Final;
- July 12 — Wimbledon Final;
- July 19 — Formula 1 Belgian Grand Prix;
- Through July 26 — Closing stages of the Tour de France.
Each of these events traditionally drives spikes in search demand, social media engagement, and player interest. As a rule, the best-performing campaigns are those that are already delivering results. The final weeks of the promotion are the ideal time to strengthen them through continuous, data-driven optimization.
Looking for even more scaling opportunities? The N1 Partners team has also prepared a comprehensive July guide featuring the month’s biggest sporting events and practical recommendations to help affiliates plan campaigns more effectively and drive additional Tier-1 traffic.
If you haven’t joined N1 Sport Promo yet, contact your affiliate manager or reach out to LeadGen Chris and make the most of the final weeks of the promotion.
Why choose N1 Partners?
- 14+ casino and sportsbook brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top partners
Be number one with N1!
The post N1 Sport Promo: Earn More with Sports Traffic appeared first on Americas iGaming & Sports Betting News.
With less than two weeks remaining until N1 Sport Promo by N1 Partners comes to an end, the biggest sporting events of July are still ahead: the decisive matches of the FIFA World Cup 2026, the Wimbledon Final, the Formula 1 Belgian Grand Prix, and the closing stages of the Tour de France.
During this period, every additional FTD not only increases your overall payout but also boosts your CPA rate.
- SEO & PPC — +€50 CPA for every 10 FTDs, with no cap on CPA increases.
- Facebook, In-App, UAC, ASO, Email & SMS — +€10 CPA for every 30 FTDs, up to +€100 above your base CPA.
The full promotion terms are available via the link below.
The N1 Partners affiliate team has shared practical recommendations to help affiliates make the most of the final stage of the promotion.
Strengthen Campaigns That Already Deliver Results
The final weeks of N1 Sport Promo are the best time to increase the volume of successful campaigns and take full advantage of the promotion’s progressive CPA mechanics.
Focus on traffic sources and creatives that are already delivering consistent results. Their growth can be supported by expanding into additional GEOs, regularly refreshing creatives, keeping offers up to date, and reacting quickly to major sporting events.
Even a moderate increase in high-quality traffic can significantly improve your final payout: the more FTDs you generate before the promotion ends, the higher your CPA rate becomes.
Speed Is a Competitive Advantage
The strongest results typically come from campaigns launched ahead of key matches and kept relevant throughout the tournament. Preparing campaigns before kickoff and responding quickly to shifts in audience interest helps affiliates capitalize on peaks in sports traffic and generate more high-quality FTDs.
Mobile users deserve particular attention during this period, as a significant share of the audience engages with sports content while matches are taking place.
Player Activity Peaks in the Final Hours Before Kickoff
During major sporting events, many users register just a few hours before a match begins. That’s why timely creative updates and a strong focus on the tournament’s most anticipated fixtures are essential for maintaining campaign performance.
Key Sporting Events Before the Promo Ends
The sports calendar remains packed over the coming weeks:
- July 9 — France vs Morocco (FIFA World Cup 2026 Quarter-final);
- July 10 — Spain vs Belgium (FIFA World Cup 2026 Quarter-final);
- July 11 — Norway vs England (FIFA World Cup 2026 Quarter-final);
- July 14–15 — FIFA World Cup 2026 Semi-finals;
- July 19 — FIFA World Cup 2026 Final;
- July 12 — Wimbledon Final;
- July 19 — Formula 1 Belgian Grand Prix;
- Through July 26 — Closing stages of the Tour de France.
Each of these events traditionally drives spikes in search demand, social media engagement, and player interest. As a rule, the best-performing campaigns are those that are already delivering results. The final weeks of the promotion are the ideal time to strengthen them through continuous, data-driven optimization.
Looking for even more scaling opportunities? The N1 Partners team has also prepared a comprehensive July guide featuring the month’s biggest sporting events and practical recommendations to help affiliates plan campaigns more effectively and drive additional Tier-1 traffic.
If you haven’t joined N1 Sport Promo yet, contact your affiliate manager or reach out to LeadGen Chris and make the most of the final weeks of the promotion.
Why choose N1 Partners?
- 14+ casino and sportsbook brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top partners
Be number one with N1!
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