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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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Groove

Groove integrates KingMidas Games, adding 150+ titles to its content portfolio

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The supplier says the KingMidas catalogue is now available to operators via Groove Command across slots, instant wins, table and arcade games.

Groove has integrated KingMidas Games into its content aggregation platform, adding the studio’s catalogue of more than 150 games to its operator network. The companies said the rollout covers slots, instant wins, table games and arcade-style titles.

Rachel Tourgeman, Head of Partnerships at Groove, said: “KingMidas Games brings something distinctive to our platform. They combine strong visual identity with genuine understanding of what keeps players coming back. In a crowded content landscape, that combination matters. We’re pleased to make their catalogue available to our operators and see what these games deliver in live environments.”

Groove said the deal supports its strategy of combining a portfolio of over 15,000 games with selective studio additions, and positioned the KingMidas line-up as designed for mobile-first audiences.

Sargis Khachatryan, Commercial Director at KingMidas Games, said: “Groove has established itself as a genuine aggregator of choice in this space, and we’re pleased to bring our full catalogue to their platform. Our focus has always been on creating games that players want to return to, so, visually sharp, mechanically solid, and built for mobile. Making those titles available through Groove means more operators can deploy them quickly and with confidence. It’s a straightforward partnership built on shared commercial sense, and we’re excited to get started.”

According to the company, the KingMidas Games portfolio is available to Groove partners via its back office, Groove Command. Yahale Meltzer, Co-Founder and CEO of Groove, added: “Our model has always been about giving operators choice without complexity. KingMidas Games fits that philosophy perfectly. They produce content that performs, and they do it at scale. Integrating them into Groove means our partners can access that performance through a single connection, with all the flexibility our platform provides. It’s another step toward making Groove the default destination for operators who want to move fast and compete effectively.”

The post Groove integrates KingMidas Games, adding 150+ titles to its content portfolio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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GR8 Tech

GR8 Tech Turns GR8_Sportsbook ON for Operators Ready to Win

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You know the game.

Players expect more. Markets move faster. Margins get tighter. Operators are still too often stuck with sportsbook tech that looks the same, feels the same, and slows everything down when speed is crucial.

GR8 Tech introduces the updated GR8_Sportsbook, a reimagined sportsbook built to transform the player experience, give operators full commercial control, and unlock more revenue-driving opportunities from day one.

This is not a typical B2B sportsbook built for show.

GR8_ Sportsbook was built as a product for ourselves, tested at scale, and shaped by real operator needs. We kept only the tools that work, convert, retain, and generate revenue.

No empty promises. No decorative features.

GR8_PLAYER EXPERIENCE ON: Transform Player Experience → Drive Growth

The new GR8_ Sportsbook front end brings a completely reimagined UI and UX, designed to make betting easier, faster, and more engaging for players.

The updated interface gives players a cleaner journey, more intuitive navigation, and a smoother path from discovery to bet placement. Every interaction is built to support conversion and long-term retention.

Differentiate. Stand out. Win.

GR8_Control On: Built Your Way, Managed in Real Time

GR8_ Sportsbook gives operators control through UBO and CRM. Operators can customize odds, content, layouts, widgets, pages, promotions, and player experiences without waiting on support or getting stuck in endless back-and-forth requests.

The new widget-based architecture gives operators control over every page layout and content block directly from the back office. That means faster execution, greater flexibility, and complete independence.

  • Built your way: customize everything from content to player experience.
  • Real-time control: make changes instantly, no support needed.
  • Market-ready: adapt fast to trends, regions, and audience needs.

Behind the experience sits mature risk management built to protect the business while giving operators the flexibility to grow.

GR8_Revenue On: Tools That Move the Numbers

GR8_ Sportsbook adds a new layer of revenue-driving tools designed for targeted growth, smarter engagement, and better player value.

Operators can run highly segmented campaigns, tailor promotions by geography, and apply boosted odds at brand, market, or user-segment level.

That means recreational players can get a more exciting betting experience, while price-sensitive users can be targeted with enhanced prices and sharper offers.

New and upgraded revenue tools include:

  • Boosted odds and enhanced prices at user-segment level.
  • Automatic VIP bet acceptance for smoother high-value player handling.
  • Zero-latency betting experience for faster, cleaner bet placement.
  • Geo-tailored promotions built around local markets and audience behavior.
  • AI-powered dynamic limits designed to maximize value per player.
  • Targeted campaigns for different user segments, player types, and growth goals.

This is revenue control built into the product.

Built for the World Cup. Built Beyond It.

Ahead of the World Cup, GR8 Tech’s primary focus is upgrading the sportsbook front end, navigation, and operator control layer to meet modern player expectations and commercial demands.

Post-tournament, the roadmap continues with a redesigned event page and the development of a performance-focused initiative using server-side rendering to improve page speed, SEO, and user experience across key high-growth regions, including Africa, India, and Latin America.

Beyond iFrame, GR8 Tech is also expanding its sportsbook ecosystem through scalable Managed Trading Services and API products.

The API product gives B2B operators access to GR8 Tech’s sportsbook engine while allowing them to build their own front end, a major advantage for brands that want full UX ownership without compromising on backend performance.

GR8_Sportsbook On

GR8_Sportsbook is for operators who don’t want another sportsbook that simply exists.

It’s for brands that want to differentiate. Control the product. Move faster. Engage better. Protect margin. Grow revenue with tools proven in real-life operations.

Because luck is not a strategy.

LUCK OFF.
GR8_SPORTSBOOK ON.

The post GR8 Tech Turns GR8_Sportsbook ON for Operators Ready to Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BIS

BiS Brasília projects growth and boosts betting debate in Brazil

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Event will bring together leaders and experts at a time of high visibility for the sector

With an expected 20% increase in attendance, BiS Brasília reaches its second edition in a scenario of strong prominence for the sports betting market in Brazil.

Regulatory advances and growing public interest have placed the sector at the center of strategic discussions, boosting the event’s relevance this year.

Held at the Royal Tulip Brasília Alvorada, the gathering will bring together experts, executives, and authorities to discuss market trends, challenges, and opportunities, with a focus on innovation, integrity, and the sustainable development of the industry.

“The BiS Brasília arrives at a decisive moment for the Brazilian market, bringing together leaders to discuss the paths of regulation, innovation, and sustainable growth of iGaming and sports betting in the country.

It will be a strategic opportunity to promote qualified dialogue and strengthen an increasingly professional and transparent ecosystem,” explains Flávio Figueiredo, co-founder of BiS SiGMA.

Based in the federal capital—epicenter of Brazil’s main political and economic decisions—the event reinforces Brasília’s role as a convergence point for the different stakeholders involved in shaping the new regulatory landscape.

This edition is expected to consolidate itself as a milestone in the maturation of the debate on the legality of betting in Brazil.

About BiS Brasília

In its second edition, BiS Brasília is an event dedicated to the iGaming and betting ecosystem, promoting dialogue between the private sector, government, and society on the development of the regulated gaming, casino, and lottery market in Brazil.

The event brings together business leaders, authorities, and experts to discuss strategic topics such as Brazilian regulation, taxation, integrity, innovation, responsible gaming, compliance, AML / anti-money laundering, licensing, sports integrity, government relations, advertising, and CONAR.

BiS SiGMA South America is part of the event portfolio of SiGMA World Group, one of the leading global platforms for B2B business and event organization focused on the gaming and betting industry.

The post BiS Brasília projects growth and boosts betting debate in Brazil appeared first on Americas iGaming & Sports Betting News.

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