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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%.

Bragg

Bragg Partners with Super Technologies to Power Ambitious Strategic Expansion

Published

39 minutes ago

February 19, 2026

Wladimir P.

bragg-partners-with-super-technologies-to-power-ambitious-strategic-expansion

Bragg Gaming Group has revealed a strategic alliance with Super Technologies (“Super”), a prominent global entertainment technology firm that also manages Sports betting and iGaming brands, to offer Bragg’s complete range of content aggregation and delivery services. This agreement positions Bragg as a crucial execution partner, providing a reliable, scalable content operation for Super Technologies’ diverse brand and jurisdiction portfolio.

The collaboration enhances a relationship that started in 2020 and has already experienced successful launches in Brazil, Belgium, Romania, and most recently, Serbia. The contract aims to assist Super’s bold strategic growth initiative by facilitating quick access to high-quality content, alongside ensuring the essential technical and compliance preparations for challenging regulated regions. The strategic alliance greatly improves Super’s platform content offerings and compliance scope. The arrangement centers on providing enhanced-quality, market-tailored games and encompasses the supply of third-party, proprietary, exclusive, and custom content through the Bragg Remote Games Server (RGS) and the Bragg HUB content distribution platform. Additionally, Bragg’s FUZE promotional, engagement, and gamification toolset will be further deployed across specific selected content.

Bragg’s RGS is authorized, certified, or recognized for providing casino games and various iGaming products in over 30 globally regulated gaming markets. The Bragg HUB content delivery platform, undergoing constant updates, presently offers more than 13,000 titles. Bragg’s content pipeline is driven by its internal studios, Wild Streak Gaming, Atomic Slot Lab, and Indigo Magic, alongside its “Powered by Bragg” partners, all dedicated to delivering distinctive, localized content for over 30 regulated markets.

Matevž Mazij, CEO of Bragg Gaming Group, commented: “We are excited to be selected as preferred partner to Super Technologies. This partnership is built to win, providing frictionless services, unified delivery and promotional solutions to their multi-brand ecosystem and unlocking stronger performance, lower costs, and faster execution. We are a leading specialist in regulated market gaming aggregation, ready to power every Super Technologies brand, everywhere.”

Maxim Verplanken, VP Product – Gaming of Super Technologies stated: “Our decisions always derive from our driven customer-centric mindset. Selecting Bragg as our preferred content Delivery Partner was a strategic choice driven by the diversity of their content provider portfolio, as well as the strong technical support and partnership mindset that they have demonstrated. Furthermore, this partnership reflects the depth of our entertainment ecosystem and underscores the high quality of Bragg’s products and its consistent ability to deliver fully compliant, market-leading solutions.“

The post Bragg Partners with Super Technologies to Power Ambitious Strategic Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Latest News

Million Games Reveals Temple Treasure, a High-Stakes Adventure Slot with Hold & Win

Published

39 minutes ago

February 19, 2026

Wladimir P.

million-games-reveals-temple-treasure,-a-high-stakes-adventure-slot-with-hold-&-win

Million Games is excited to unveil Temple Treasure, a thrilling adventure slot aimed at immersing players in an exciting expedition into the depths of a historic jungle temple. Filled with Hold & Win mechanics, a Bonus Pick option, and Free Spins, Temple Treasure guarantees thrilling excitement and legendary prizes.

Players will accompany daring adventurer Maya Stone as they traverse the sacred temple, discovering enchanting symbols, concealed artifacts, and significant rewards throughout their journey. Featuring a 5×3 reel configuration, 50 paylines, and a maximum payout of 10,000x the wager, Temple Treasure offers an extreme volatility experience that amplifies high-stakes action with significant winning opportunities.

The game includes three exciting bonus rounds, such as the Hidden Temple Bonus, where players gather Money Symbols to access the jackpot. The Enchanted Chests Bonus provides immediate-win multipliers for greater payouts. The Ancient Relic Free Spins feature changes the reels, combining reels 2, 3, and 4 into a gigantic Mega Symbol, enhancing the chances for big wins.

Thomas Nimstad, CEO of Million Games, shared his excitement about the release: “With Temple Treasure, we wanted to create a true adventure slot – one that captures the thrill of discovery and the excitement of high-stakes gameplay. The combination of Hold & Win mechanics and the Bonus Pick feature makes every spin a journey into the unknown, where hidden riches and legendary rewards await. We can’t wait for players to explore the temple and experience the excitement for themselves.”

The post Million Games Reveals Temple Treasure, a High-Stakes Adventure Slot with Hold & Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

accumulators

Record-breaking volumes at the World Sports Betting Cape Town Met, powered by OpenBet technology

Published

13 hours ago

February 18, 2026

Wladimir P.

record-breaking-volumes-at-the-world-sports-betting-cape-town-met,-powered-by-openbet-technology

OpenBet, a global leader in betting and gaming technology, powered record-breaking volumes for World Sports Betting (WSB) during the 2026 World Sports Betting Cape Town Met, processing more than three times WSB’s typical daily activity with zero downtime.

The Cape Town Met is one of South Africa’s premier horseracing events, drawing intense traffic that tests platform performance. Less than a year after migrating to OpenBet’s unified technology stack, WSB demonstrated the resilience and scalability of its platform under extreme demand.

OpenBet’s Player Account Management (PAM) technology and sportsbook solution — phased in with PAM going live in February 2025 and the sportsbook in October 2025 — now underpin WSB’s enterprise-grade wagering infrastructure across both digital and retail channels. The integrated system delivers streamlined KYC, a unified wallet, accurate reporting and a robust compliance framework designed for South Africa’s regulatory environment.

Enhanced features available to WSB customers include 50-leg accumulators, partially redeemable free bets, advanced Telebet telephone betting and integrated pools betting for sports and racing through OpenBet’s advanced trading system.

“With the World Sports Betting Cape Town Met, we processed more than three times the usual volume with zero downtime, showcasing the strength and scalability of our technology,” said Runa Walia Desai, Chief Customer Experience Officer at OpenBet. “This milestone also extends our footprint into Africa, reinforcing our position across six continents.”

Warren Tannous, CEO of World Sports Betting, added that OpenBet’s modular solution gives the operator the confidence to expand its sportsbook offering and support increased user engagement while maintaining performance and compliance.

The post Record-breaking volumes at the World Sports Betting Cape Town Met, powered by OpenBet technology appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.