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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2021
“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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Amusnet
Amusnet Celebrates Football Season with the Launch of Ca$hybara Football Edition
As football fever takes over the world and fans unite around the beautiful game, Amusnet is bringing the excitement from the stadium straight to the casino floor with the launch of Ca$hybara Football Edition – the latest addition to the beloved Ca$hybara series.
This energetic crash game puts players at the center of the action, where every touch of the ball could lead to bigger rewards. Taking the spotlight once again is the unstoppable Ca$hybara, this time stepping onto the football pitch with confidence, skill and plenty of flair.
In Ca$hybara Football Edition, the charismatic sports star keeps the ball airborne through an impressive display of juggling mastery. With every successful touch, the multiplier climbs higher, creating a thrilling balance between risk and reward. The challenge is simple: decide how long to stay in the game before cashing out. The longer Ca$hybara remains in control, the greater the potential winnings – but one missed touch can change everything.
Designed to keep players engaged from kick-off to the final whistle, the game introduces constant decision-making throughout every round. Players can choose to secure part of their winnings with the 50% Cashout option or continue riding the momentum in pursuit of even bigger multipliers. Timing, confidence and a little courage will determine who comes out on top.
Adding another layer of excitement are the popular Jackpot Cards, Amusnet’s signature jackpot feature, offering players additional chances for rewarding surprises and making every session even more dynamic.
With its football-inspired theme, fast-paced gameplay, and familiar Ca$hybara charm, Ca$hybara Football Edition arrives at the perfect moment, capturing the energy and passion of the season when football dominates conversations across the globe.
Whether players are seasoned crash game enthusiasts or discovering the genre for the first time, Ca$hybara Football Edition delivers an entertaining experience where every second counts and every decision matters.
Gamble
Play the game and multiply the winnings through the Gambling feature.
Multipliers
The game starts with a multiplier set at 1x and rises gradually and can go up to a max coefficient of 1,000,000. Multiplier can potentially crash at 1x, ending the game round.
50% Cash Out
Players can cash out 50% of their bet during the game round and continue playing with the remaining 50%.
Jackpot Cards
The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.
The post Amusnet Celebrates Football Season with the Launch of Ca$hybara Football Edition appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
ArenaPlus
DigiPlus Wins “Digital Operator of the Year” Award at 2026 Global Gaming Awards Asia-Pacific
DigiPlus Interactive Corp. (DigiPlus), the country’s premier digital entertainment provider behind BingoPlus, ArenaPlus and GameZone, has been named Digital Operator of the Year at the 2026 Global Gaming Awards Asia-Pacific, marking its second consecutive annual win in the category and reinforcing its leading industry position in the APAC region. The recognition was announced during the Global Gaming Awards ceremony held on June 2 at Conrad Manila.
One of the international gaming industry’s most prestigious awards programmes, the Global Gaming Awards, powered by Global Gaming Insider, recognise excellence in innovation, player experience, responsible gaming and operational excellence across both land-based and online gaming sectors. Winners are selected by a panel of senior industry executives with extensive experience and deep knowledge of the market, with the voting process independently adjudicated by KPMG to ensure rigor and transparency.
The Digital Operator of the Year category recognises operators that have demonstrated outstanding growth, innovation and player engagement over the past 12 months. DigiPlus emerged victorious from a shortlist of eight nominees, besting seven other operators across APAC.
Judges highlighted DigiPlus’ strong 2025 performance, the addition of over 500 new e-games on its platforms, and the rollout of industry-first responsible gaming tools. The company also continues its momentum in 2026 through major partnerships, including recently launched collaborations with Manny Pacquiao and the National Basketball Association (NBA).
In addition to its top industry honor, DigiPlus earned further recognition for its social impact initiatives, securing the first runner-up spot in the Corporate Social Responsibility (CSR) of the Year category.
The awards body commended DigiPlus for its impressive CSR work via the DigiPlus Foundation which delivers healthcare, education, disaster relief, and social empowerment programs to over 1 million beneficiaries and counting across the Philippines.
“We are honored to once again be recognized by the Global Gaming Awards. These prestigious international industry accolades reflect DigiPlus’ unwavering pursuit of excellence and our drive to continuously innovate, deepen player engagement, and champion responsible gaming across BingoPlus, ArenaPlus, and GameZone,” said DigiPlus Chairman Eusebio H. Tanco.
“Together with the recognition for DigiPlus Foundation, this back-to-back win affirms our commitment to delivering world-class digital entertainment to Filipinos while contributing to nation-building.”
The Global Gaming Awards also hold annual editions in the Americas and EMEA regions, recognising industry excellence across the globe.
The post DigiPlus Wins “Digital Operator of the Year” Award at 2026 Global Gaming Awards Asia-Pacific appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Greece
SYNOT Games Announces New Partnership with Superbet
In a move that further reinforces its footprint across regulated European markets, SYNOT Games has announced a new partnership with Superbet, a prominent platform in Greece. The collaboration certified SYNOT titles, including some of the studio’s latest and most innovative releases, to the casino’s rapidly growing grid.
Players on Superbet can now enjoy great slots such as Respin Joker 81, Aztec Jaguar and Toro Wilds Reel. These additions expand Superbet’s offering with a spectrum of engaging mechanics, artistic design and mobile-first performance, ensuring the highest-quality entertainment for Greek audiences.
The agreement is part of SYNOT Games’ strategic initiative to solidify its presence exclusively in licensed, regulated markets by providing certified content through partnerships with established, trusted regional operators.
Martina Krajčí, Chief Commercial Officer at SYNOT Games, said: “We are excited to bring our portfolio to Greek players through this strategic alliance with Superbet. Greece represents a market with great potential and an audience that appreciates quality, variety, and innovation. Superbet’s agility and commitment to delivering premium entertainment make them an ideal partner for our continued Mediterranean expansion.”
Superbet, known for its user-centric approach and cutting-edge platform, views the addition of SYNOT Games content as a key enhancement to its offering and a testament to its mission of hosting best-in-class gaming experiences.
Stathis Leontaritis, Casino Lead at Superbet, said: “Our partnership with SYNOT Games further strengthens our commitment to delivering a diverse and engaging gaming portfolio to Greek customers. With its proven track record across Central and Eastern Europe, unique game mechanics, and strong land-based heritage, Synot brings a distinctive content offering that complements our existing Superbet portfolio and supports our goal of providing a premium online entertainment experience to players in Greece.”
This collaboration not only empowers Superbet to differentiate its portfolio further but also underscores SYNOT Games’ long-term commitment to regulated growth, responsible gaming, and working exclusively with trusted local operators – a model increasingly valued by players and regulators.
The post SYNOT Games Announces New Partnership with Superbet appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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