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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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N1 Sport Promo Starts Soon: More FTDs, Higher Rates

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N1 Partners is preparing a new promo for its partners, N1 Sport Promo, for the hot summer sports calendar and the main football event of the year, FIFA World Cup 2026.

The promo starts on June 10 and runs until July 20, when audience interest in sports reaches its peak and sports and prediction traffic gets strong potential for scaling.

During the same period, Wimbledon, the NBA finals, Formula 1 races, UFC Freedom 250 at the White House and the N1 Hype tournament will also take place, attracting the attention of millions of players worldwide.

N1 Sport Promo: first details

Within six weeks, partners will be able to receive additional bonuses for traffic to sports betting and Prediction Markets. The more high-quality FTDs a partner brings, the higher their potential reward.

The key mechanic of N1 Sport Promo is the opportunity to increase current rates.

Alexa Bond, Head of Affiliates N1 Partners, comments on the upcoming promo: 

“Major sporting events traditionally increase interest in betting and prediction markets, opening up additional opportunities for partners to attract traffic. With N1 Sport Promo, we have focused on mechanics that reward scaling and strong results. This promo is for those who are ready to work actively with traffic and get the most out of the sports season.”

All details, terms of participation and bonus amounts will be announced soon.

The countdown to the start has already begun.

Existing partners can contact their manager now to prepare for the campaign launch and learn more about the opportunities of working with sports and prediction traffic.

Haven’t joined N1 Partners yet? Contact the manager, get involved and make the most of the 2026 sports season.

Start working with N1 Partners:

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Be number one with N1!

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Slotegrator enhances retention economy with built-in adjustable engagement toolkit

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Slotegrator, a leading software and business solution provider in the iGaming industry, announces updates to its platform that enable operators to create, build, and test retention strategies adapted to different markets.

Operators expanding into new markets now have a tool to rapidly design and configure their player retention strategies. Slotegrator’s Casino Builder module, part of the company’s turnkey platform, offers flexible GEO-adapted retention mechanics integrated directly into the platform ecosystem.

The retention toolkit features a range of options for operators to choose from, including lootboxes, automated tournaments, bonus mechanics, reward systems, a Wheel of Fortune mechanic, and the ability to create proprietary mini-games. Thanks to the platform’s Casino Builder module, all of these retention mechanics can be quickly adjusted to fit any market without the need for a development team. 

“Attracting traffic is easy. Retaining it is much harder. The real battle in today’s market is fought over every additional active day in the player lifecycle. Across the industry, we’re seeing a growing trend toward CRM gamification, which consistently delivers a 10–15% increase in NGR through a 15–20% uplift in deposit frequency and improved D30 retention,” says Slotegrator COO Olga Ivanchik.

Operators looking to expand their project into a new market are often frustrated by slow launch cycles, difficult adaptation, and operational complexity. After launch, retention economy becomes paramount if the brand hopes to remain competitive in the long term. Slotegrator’s updated platform accounts for both the initial expansion and the ongoing effort to build a base of players.

Slotegrator’s updated turnkey platform is designed for a fast launch, with new projects opening in as little as 8-13 days. To help platforms perform as quickly as possible, the Casino Builder module offers the ability to instantly customize the frontend with the use of preset templates. 

One-size-fits-all mechanics are losing their efficacy as players come to expect more and more personalized experiences. Additionally, players in different markets respond to different retention mechanics. Some markets react better to instant rewards, such as loot boxes, while others prefer gamified progression such as VIP programs. Still others are best engaged by tournaments. 

In addition to the individual mechanics, the platform enables operators to adapt their retention logic to their target market. Logic can be adjusted to audience behaviour, bonus strategy, acquisition source, and player lifecycle stage. 

The Wheel of Fortune feature has localized retention mechanics that can cater to different GEOs. Rewards, currencies, retention logic, and even the wheel itself can all be adjusted to suit the preferences and behavior of the target audience.

The process of testing exact player preferences in any given market is time consuming and costly. With Casino Builder, however, adjustments can be made on the fly: In addition to independently creating and launching retention mechanics, operators can carry out testing, and adjust their strategic logic accordingly. 

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

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Jinero

Jinero Wins Best Marketing Campaign at SiGMA Asia Awards 2026

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Jinero,  an affiliate program rooted in a deep immersion into Asian culture, has been honored with the prestigious Best Marketing Campaign 2026 recognition at the annual edition of the SiGMA Asia Awards.

The grand ceremony took place at the SMX Convention Center in Manila during the SiGMA Asia summit, running from May 31st to June 3rd, 2026. The event brings Asia’s gaming market to life, uniting top government officials, C-level executives, and the global B2B and B2C iGaming elite to network and drive industry change.

The highly competitive “Best Marketing Campaign” category recognizes top-tier programs that demonstrate exceptional creativity, commercial impact, and strategic execution. Operating under its core philosophy “The Pure Mathematics of Success” with the creative campaign theme “These Paws Are Made for Profit”, Jinero secured the top spot following its breakout entry into the market, which delivered an immediate and massive surge in performance metrics.

The campaign stood out for its seamless integration of culturally resonant branding and backend operational reliability. Central to this strategy was JINJI—the six-armed lucky cat serving as the official mascot. By blending traditional Asian symbols of prosperity with a sophisticated corporate aesthetic, JINJI established immediate market recall and a deep connection with partners.

“We are immensely proud of this recognition from SiGMA Asia,” commented the Jinero Team. “When we built Jinero, our intention was to create a golden gateway where deep regional understanding meets structural reliability. By pairing the cultural storytelling of JINJI with the pure mathematics of success, we have removed the uncertainty from affiliate growth. This award proves that success favors those who step forward with purpose, respect, and a clear structure, and this milestone belongs entirely to the partners walking this path with us.”

About Jinero:

Jinero is a performance-driven affiliate program designed to connect global ambition with the fast-growing Asian market. Built on deep regional insight and a strategic understanding of local player behavior, Jinero transforms Asia’s cultural codes into measurable performance. For more information, check out the official website at jinero.com.

About SiGMA Asia:

SiGMA is a global events and media authority focused on driving connections within the iGaming and tech industries. Bringing together top government officials, industry leaders, and land-based and digital exhibitors, the SiGMA Asia summit highlights the region’s rapid growth through premium networking and dynamic conference spaces.

The post Jinero Wins Best Marketing Campaign at SiGMA Asia Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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