Connect with us

Latest News

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

Published

on

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%.

Powered by WPeMatico

Continue Reading
Advertisement

Asia

Betby se asocia con QTech Games y amplía alcance de sportsbook en Asia

Published

on

betby-se-asocia-con-qtech-games-y-amplia-alcance-de-sportsbook-en-asia

BETBY, proveedor Tier-1 de sportsbook, anunció una asociación con QTech Games, uno de los principales distribuidores de juegos de la industria y agregador de rápido crecimiento en mercados emergentes clave.

El acuerdo permitirá que BETBY ofrezca su solución completa de sportsbook a la red global de operadores de QTech.

A través de esta colaboración, los socios de QTech tendrán acceso a la oferta completa de sportsbook de BETBY , como proveedor exclusivo de sportsbook del agregador,  cubriendo más de 500.000 eventos mensuales, herramientas propietarias impulsadas por inteligencia artificial y el feed de esports Betby.Games.

Entregada mediante una única integración API fluida, la solución brinda acceso inmediato a la base de operadores de QTech, ampliando significativamente la distribución de BETBY y permitiendo a los socios incorporar un sportsbook premium con menor complejidad y rápida salida al mercado.

La integración responde directamente a los principales desafíos de los operadores al lanzar un sportsbook, especialmente la complejidad técnica y los costos de gestionar múltiples integraciones de plataforma.

Al aprovechar la plataforma de agregación de QTech, los operadores, especialmente aquellos con foco inicial en casino online, podrán introducir una solución de sportsbook totalmente escalable sin una gran carga de desarrollo, acelerando su entrada en las apuestas deportivas y manteniendo eficiencia operativa.

La asociación también refuerza la estrategia de BETBY de expandir su presencia en Asia, donde QTech Games ha construido sólidos canales de distribución y amplia experiencia local, al tiempo que respalda su crecimiento en otros mercados emergentes como América Latina y África.

Al combinar la solución de sportsbook de BETBY con el alcance de QTech, los operadores podrán ofrecer experiencias de apuestas más competitivas, localizadas y atractivas.

Stefanos Karakidis, Director de Desarrollo de Negocios de BETBY, comentó: “Asociarnos con QTech Games es un paso natural para BETBY.

Se han consolidado como uno de los agregadores más influyentes de Asia, con sólidos canales de distribución y profundo conocimiento local, mientras continúan expandiéndose en otros mercados de alto crecimiento.

QTech comprende claramente el comportamiento de los jugadores locales y las necesidades de los operadores, y juntos podremos ofrecer una experiencia de sportsbook Tier-1, mobile-first, adecuada a las demandas de los mercados en los que operan.”

Philip Doftvik, CEO de QTech Games, afirmó: “Estamos encantados de sumar el premiado sportsbook de BETBY a nuestra plataforma.

Su producto es moderno, flexible y diseñado para mercados de rápido crecimiento, alineándose con lo que buscan nuestros socios operadores.

Desde herramientas impulsadas por IA hasta un sólido portafolio de e-sims, BETBY aporta un nivel de innovación que fortalece nuestra oferta y respalda nuestra misión de ofrecer el mejor contenido disponible en los mercados emergentes de iGaming.”

BETBY

BETBY es un proveedor B2B líder de servicios de apuestas deportivas de primer nivel, reconocido por su tecnología innovadora y compromiso con la excelencia.

Su equipo reúne veteranos de la industria que aplican conocimiento y experiencia para ofrecer una plataforma de sportsbook premium, adaptable y escalable, diseñada para satisfacer las distintas demandas de operadores en todo el mundo.

Desde opciones dinámicas de apuestas en vivo hasta sólidas herramientas de gestión de riesgo y avanzadas soluciones basadas en IA, BETBY está comprometida con impulsar el éxito de sus socios en el panorama en constante evolución de las apuestas deportivas online.

The post Betby se asocia con QTech Games y amplía alcance de sportsbook en Asia appeared first on Americas iGaming & Sports Betting News.

Continue Reading

GameOn

Movers and Shakers – Why the UK tax rise has changed the conversation, not the opportunity

Published

on

movers-and-shakers-–-why-the-uk-tax-rise-has-changed-the-conversation,-not-the-opportunity

“Movers and Shakers” is a dynamic monthly column dedicated to exploring the latest trends, developments, and influential voices in the iGaming industry. Powered by GameOn and supported by HIPTHER, this op-ed series delves into the key players, emerging technologies, and regulatory changes shaping the future of online gaming. Each month, industry experts offer their insights and perspectives, providing readers with in-depth analysis and thought-provoking commentary on what’s driving the iGaming world forward. Whether you’re a seasoned professional or new to the scene, “Movers and Shakers” is your go-to source for staying ahead in the rapidly evolving iGaming landscape.

When the UK’s new tax regime came into force on 1 April 2026, with Remote Gaming Duty rising from 21% to 40%, it was always going to force a reset. The scale of the increase meant this was never going to be treated as a marginal adjustment or another background cost for the industry to absorb quietly. It changed the economics of the market overnight, and with that, it changed the tone of the conversation too.

A month on, that pressure is real. Operators are having to look closely at where value sits, how promotional models hold up, which products justify their place, and where risk is now harder to carry. But if this first month has told us anything, it is that tougher conditions do not make the UK any less important. They simply make the market more revealing.

The UK remains one of the most significant regulated markets in our industry. It is mature, highly visible and intensely competitive, but it is also a market where product quality, commercial discipline and long-term thinking matter. That was true before the tax hike, and it is even more true now. For studios and suppliers, this is not the kind of market to retreat from just because the pressure has increased. It is the kind of market that shows who is serious.

At Gaming Corps, that is very much how we see it. The tax rise has clearly changed the environment operators are working in, but it has not changed our belief in the value of the UK market or in the importance of supporting it properly. If anything, it has sharpened that focus.

Backing the UK today is not just about continuing to supply content into the market as before. It is about understanding what operators now need from their partners. That means recognising that product decisions are under greater scrutiny. It means appreciating that flexibility matters more. And it means accepting that suppliers have a role to play in helping operators build a stronger and more resilient mix.

That support can take different forms. Sometimes it means continuing to invest in slot content that is proven, distinctive and capable of standing out on established casino floors. Sometimes it means bringing forward mechanics, themes and gameplay structures that give operators something genuinely different. And sometimes it means widening the conversation beyond the formats that have dominated for years.

That is one of the reasons why we are excited about Instant Blitz.

Instant Blitz is the first release in a new scratchcard-style series for Gaming Corps, and it reflects the kind of thinking that feels especially relevant in the current UK climate. It is designed as a fast, accessible format that blurs the lines between scratchcard and slot, while also giving operators a low-entry addition to their instant win range. With bets starting from as little as 5p, it offers operators greater flexibility at a time when product balance, player behaviour, and in particular bonus abuse, are under closer scrutiny.

That does not mean one format suddenly solves every challenge created by higher tax. But it does highlight a broader shift. In a tougher environment, innovation needs to be practical. New content has to offer operators real flexibility, not just novelty.

That is how we see Instant Blitz. It is not a departure from our wider portfolio, but part of a broader approach to helping operators build a more varied and adaptable mix. Strong slots still matter, as do distinctive mechanics and recognisable content, but there is also value in formats that widen the offer and support different play patterns.

It also reflects how we see our own future in the UK. We are continuing to invest in operator relationships and expand our portfolio in ways that match the market’s changing needs. The Instant Blitz series will grow from here, with future titles drawing on some of the familiar worlds and characters from across the wider Gaming Corps portfolio.

The first month of the tax hike has undoubtedly added pressure. But pressure also clarifies. It shows which products still make sense, which partnerships matter, and which markets remain worth backing, and the UK is still one of those markets.

By Graham Greensmith, CCO at Gaming Corps

The post Movers and Shakers – Why the UK tax rise has changed the conversation, not the opportunity appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Industry News

RAW iGaming unveils RAW Riches: A site-wide progressive jackpot overlay built for scale

Published

on

raw-igaming-unveils-raw-riches:-a-site-wide-progressive-jackpot-overlay-built-for-scale

RAW iGaming announces today the launch of RAW Riches, a site-wide progressive jackpot overlay designed to deliver jackpot moments without adding operational complexity.

Launching as part of the RAWVerse ecosystem, RAW Riches introduces a new approach to jackpots, prioritising seamless integration, player engagement, and operator control.

A fully embedded experience

RAW Riches introduces a multi-tier progressive jackpot layer deployable across an operator’s entire portfolio, regardless of game supplier. Unlike traditional jackpot mechanics that require separate integrations or fragmented systems, RAW Riches operates as a fully embedded experience within the operator’s brand, creating a single, unified jackpot.

Tom Wood, CEO of RAW iGaming, said: “The industry built jackpots in silos. We built one that connects everything.

“RAW Riches gives operators a site-wide jackpot running across every entity and every game supplier, configured to their exact needs and brand, all from a single solution.

“We pride ourselves on producing the industry’s most distinctive and disruptive game concepts and RAW Riches is no different.

“This is the kind of product that changes how operators think about jackpots entirely.”

A seamless player experience

Players opt in and continue playing as normal. When triggered, the jackpot experience takes over instantly. Every trigger results in a win, with no losing outcomes, before the player is returned to their original game to continue playing.

Scaleable without complexity

RAW Riches solves one of the industry’s most persistent operational challenges in scaling jackpots across multiple providers, brands, and markets. Key features include:

 

  • Single deployment across all games and brands

  • Full operator control over jackpot configuration and branding

  • Multiple delivery options, including bespoke branded game builds

  • Seamless deployment within any existing RAW integration or delivery partner

 

RAW Riches is available today across regulated markets in Europe.

The post RAW iGaming unveils RAW Riches: A site-wide progressive jackpot overlay built for scale appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania