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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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Jack Watson Brand Manager at Zingo Bingo

Zingo Bingo pushes “community, accessibility” message for National Bingo Week

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Brand manager Jack Watson argues bingo’s growth should focus on social play and cultural moments, as the operator plans a free-to-play day on 27 June.

Zingo Bingo is using National Bingo Week to argue that bingo’s next phase should prioritise “community, accessibility and shared cultural experiences” over “innovation for innovation’s sake,” according to Jack Watson, Brand Manager at Zingo Bingo.

In the statement, Watson says technology is reshaping gaming, but that bingo’s core appeal remains social interaction and shared entertainment. He points to sector shifts including mobile-first experiences, personalised content and themed gameplay, while claiming players still want “the shared excitement that comes from participating alongside others.”

Watson also flags nostalgia as a product and marketing lever, describing it as an “instant emotional connection” that can help online bingo feel “both fresh and recognisable.” He adds that operators should focus on presentation—such as “mobile optimisation, themed rooms, contemporary branding and strong community experiences”—rather than changing the fundamentals of the game.

Zingo Bingo said it will mark National Bingo Day with “a full day of free bingo, running from 12pm to 8pm on Saturday 27 June,” allowing players to participate without purchasing tickets. Watson positions free-to-play events as a way to reduce friction for first-time players who may hold outdated views of online bingo.

The company also highlights responsible gambling measures, stating it offers tools including deposit limits, session reminders and self-exclusion.

The post Zingo Bingo pushes “community, accessibility” message for National Bingo Week appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Boomerang Partners

Boomerang Partners’ case study: how affiliates prepare traffic campaigns around major sports events

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On June 11, the FIFA World Cup 2026 starts in North America. It will be the biggest sports event of the year, but the real challenge for affiliates is the rest of the schedule. Throughout 2026, dozens of major tournaments – from football and tennis to Formula 1 – are running almost back-to-back across the sports calendar. This creates one of the most overloaded sports calendars affiliates have worked with in recent years.

Periods like these usually bring some of the highest traffic volumes and strongest audience engagement of the year for affiliate teams.

But data from Boomerang Partners shows that old tactics no longer work. You cannot just launch a campaign on match day and expect good results. Today, teams have to plan their traffic and content weeks before the first game begins.

Regular leagues create more stable traffic

The pressure of this busy schedule became clear during the recent TIME TO WIN affiliate tournament, organized by Boomerang Partners. The project became a live test for different traffic strategies during major events.

The tournament highlighted one clear pattern. Teams like Fumma LTD pointed to the UEFA Champions League and the English Premier League as some of the most reliable traffic drivers. This approach gives affiliates several advantages:

  • Fixed schedules make it easier to prepare content and distribute traffic across several tournament stages.
  • Recurring match cycles help teams plan campaign timing and prioritize key fixtures well before kick-off.

The real problem in sports is overlapping events. Several big tournaments now run simultaneously across different regions and time zones.

For sports-focused affiliates, this means competing for the same audience attention at the same time. In many cases, the audiences overlap as well. If two major match cycles collide, teams have to choose quickly where to push traffic. Otherwise, they will lose their visibility entirely.

Campaigns must start before kick-off

The timeline for traffic preparation has completely changed. Affiliate teams increasingly start campaign preparation long before the opening match. By the time the live event starts, much of the preparation work is already done.

Preparation now involves several steps. Content teams need to prepare match materials in advance, and media buyers must schedule traffic around the most important fixtures and play-offs.

During the live match, there is no time to fix mistakes. Audiences move too fast between different games. This is especially true when several big matches happen on the same day. If a campaign fails at kick-off, fixing it on the fly is almost impossible.

This is why arbitrage remains one of the strongest sources for sports campaigns. As Sanan Kamilli, CBO at Fumma LTD, noted during TIME TO WIN: “Google PPC works best for sports-focused campaigns because it captures high-intent users actively searching for event-related queries, allowing precise targeting, scalable volume, and strong conversion rates compared to other channels.”

Users searching for specific matches, teams, or betting odds usually show much stronger intent than broader tournament audiences. This makes search traffic particularly valuable during major sports events.

Sports traffic extends beyond the final match

Many affiliates think that sports traffic disappears once the final whistle blows. This is a mistake.

As Fumma LTD noted during TIME TO WIN, sports-driven audiences typically remain valuable for several weeks after the event. The company continues working with these users through retargeting, promoting upcoming matches, and using CRM campaigns to drive repeat engagement and increase lifetime value.

Fumma LTD also highlighted conversion rate (CR), earnings per click (EPC), and player lifetime value (LTV) as some of the key metrics for evaluating traffic quality and long-term profitability in sports-focused campaigns.

For affiliate teams, this creates opportunities beyond a single tournament window. Large finals still generate the biggest traffic peaks, but audience activity often continues into the following match cycles as well.

Using the 2026 Calendar to manage niche traffic

With so many tournaments running back-to-back in 2026, the main difficulty is managing multiple campaigns at once. Content creation, publishing, and ad buying must happen simultaneously.

To help with this, Boomerang Partners launched the Sports Marketing & Betting Calendar 2026. This tool gathers major leagues, global tournaments, and niche events in one place.

For teams like Paradise Media, this centralized schedule solved a major workflow problem. As the company noted during TIME TO WIN, football still accounts for more than 80% of online sports betting activity, so having all World Cup match days, groups, and teams in one place helps speed up research and campaign preparation. To make their workflow faster, the team also combines the calendar with different AI and LLM tools to gather information and cross-check with the calendar to enrich their content, said Mehdi, Director of Affiliates at Paradise Media.

Niche sports also play an important role during quieter periods between major football tournaments. They may not generate the same traffic volume as top leagues, but they help affiliates maintain publishing activity and keep audiences engaged throughout the year.

For many teams, this is no longer just about traffic volume. Covering niche events also helps build authority and positions affiliate platforms as more consistent sports sources outside the biggest football peaks.

A structured calendar always beats reaction

The main takeaway from the market is simple: sports marketing is no longer about quick reactions. 2026 requires good coordination, pre-made content, and smart scheduling across overlapping tournament cycles.

The strongest affiliate teams are already moving toward structured, calendar-based strategies where preparation starts weeks before kick-off and continues well beyond the final match.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is an Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards – a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Partners of the Agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The Agency’s clients’ portfolio contains 10+ brands offering affiliate and entertainment services across multiple markets in compliance with local regulations. These products provide incentive programs and 24/7 multilingual support.

FIFA World Cup and other third companies are made for descriptive purposes only. Boomerang Partners is not affiliated with, endorsed by, or officially connected to these entities in any way.

The post Boomerang Partners’ case study: how affiliates prepare traffic campaigns around major sports events appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Boomerang Partners

Boomerang Partners’ case study: how affiliates prepare traffic campaigns around major sports events

Published

on

boomerang-partners’-case-study:-how-affiliates-prepare-traffic-campaigns-around-major-sports-events

On June 11, the FIFA World Cup 2026 starts in North America. It will be the biggest sports event of the year, but the real challenge for affiliates is the rest of the schedule. Throughout 2026, dozens of major tournaments – from football and tennis to Formula 1 – are running almost back-to-back across the sports calendar. This creates one of the most overloaded sports calendars affiliates have worked with in recent years.

Periods like these usually bring some of the highest traffic volumes and strongest audience engagement of the year for affiliate teams.

But data from Boomerang Partners shows that old tactics no longer work. You cannot just launch a campaign on match day and expect good results. Today, teams have to plan their traffic and content weeks before the first game begins.

Regular leagues create more stable traffic

The pressure of this busy schedule became clear during the recent TIME TO WIN affiliate tournament, organized by Boomerang Partners. The project became a live test for different traffic strategies during major events.

The tournament highlighted one clear pattern. Teams like Fumma LTD pointed to the UEFA Champions League and the English Premier League as some of the most reliable traffic drivers. This approach gives affiliates several advantages:

  • Fixed schedules make it easier to prepare content and distribute traffic across several tournament stages.
  • Recurring match cycles help teams plan campaign timing and prioritize key fixtures well before kick-off.

The real problem in sports is overlapping events. Several big tournaments now run simultaneously across different regions and time zones.

For sports-focused affiliates, this means competing for the same audience attention at the same time. In many cases, the audiences overlap as well. If two major match cycles collide, teams have to choose quickly where to push traffic. Otherwise, they will lose their visibility entirely.

Campaigns must start before kick-off

The timeline for traffic preparation has completely changed. Affiliate teams increasingly start campaign preparation long before the opening match. By the time the live event starts, much of the preparation work is already done.

Preparation now involves several steps. Content teams need to prepare match materials in advance, and media buyers must schedule traffic around the most important fixtures and play-offs.

During the live match, there is no time to fix mistakes. Audiences move too fast between different games. This is especially true when several big matches happen on the same day. If a campaign fails at kick-off, fixing it on the fly is almost impossible.

This is why arbitrage remains one of the strongest sources for sports campaigns. As Sanan Kamilli, CBO at Fumma LTD, noted during TIME TO WIN: “Google PPC works best for sports-focused campaigns because it captures high-intent users actively searching for event-related queries, allowing precise targeting, scalable volume, and strong conversion rates compared to other channels.”

Users searching for specific matches, teams, or betting odds usually show much stronger intent than broader tournament audiences. This makes search traffic particularly valuable during major sports events.

Sports traffic extends beyond the final match

Many affiliates think that sports traffic disappears once the final whistle blows. This is a mistake.

As Fumma LTD noted during TIME TO WIN, sports-driven audiences typically remain valuable for several weeks after the event. The company continues working with these users through retargeting, promoting upcoming matches, and using CRM campaigns to drive repeat engagement and increase lifetime value.

Fumma LTD also highlighted conversion rate (CR), earnings per click (EPC), and player lifetime value (LTV) as some of the key metrics for evaluating traffic quality and long-term profitability in sports-focused campaigns.

For affiliate teams, this creates opportunities beyond a single tournament window. Large finals still generate the biggest traffic peaks, but audience activity often continues into the following match cycles as well.

Using the 2026 Calendar to manage niche traffic

With so many tournaments running back-to-back in 2026, the main difficulty is managing multiple campaigns at once. Content creation, publishing, and ad buying must happen simultaneously.

To help with this, Boomerang Partners launched the Sports Marketing & Betting Calendar 2026. This tool gathers major leagues, global tournaments, and niche events in one place.

For teams like Paradise Media, this centralized schedule solved a major workflow problem. As the company noted during TIME TO WIN, football still accounts for more than 80% of online sports betting activity, so having all World Cup match days, groups, and teams in one place helps speed up research and campaign preparation. To make their workflow faster, the team also combines the calendar with different AI and LLM tools to gather information and cross-check with the calendar to enrich their content, said Mehdi, Director of Affiliates at Paradise Media.

Niche sports also play an important role during quieter periods between major football tournaments. They may not generate the same traffic volume as top leagues, but they help affiliates maintain publishing activity and keep audiences engaged throughout the year.

For many teams, this is no longer just about traffic volume. Covering niche events also helps build authority and positions affiliate platforms as more consistent sports sources outside the biggest football peaks.

A structured calendar always beats reaction

The main takeaway from the market is simple: sports marketing is no longer about quick reactions. 2026 requires good coordination, pre-made content, and smart scheduling across overlapping tournament cycles.

The strongest affiliate teams are already moving toward structured, calendar-based strategies where preparation starts weeks before kick-off and continues well beyond the final match.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is an Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards – a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Partners of the Agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The Agency’s clients’ portfolio contains 10+ brands offering affiliate and entertainment services across multiple markets in compliance with local regulations. These products provide incentive programs and 24/7 multilingual support.

FIFA World Cup and other third companies are made for descriptive purposes only. Boomerang Partners is not affiliated with, endorsed by, or officially connected to these entities in any way.

The post Boomerang Partners’ case study: how affiliates prepare traffic campaigns around major sports events appeared first on Americas iGaming & Sports Betting News.

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