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

Published

4 years ago

August 12, 2021

George Miller

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%.

Fredrik Geijer Chief Financial Officer at Gaming Corps

Gaming Corps appoints Fredrik Geijer as Chief Financial Officer

Published

55 minutes ago

December 8, 2025

George Miller

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Reading Time: < 1 minute

Gaming Corps – a publicly-listed game development company based in Sweden, has announced the appointment of Fredrik Geijer as its new Chief Financial Officer, effective 21 February 2026.

Fredrik brings more than two decades of senior financial leadership and international audit experience, including long-standing roles at PwC across Sweden, China and Australia, alongside CFO appointments at high-growth companies Lexly and Cemvision. His background as both an authorised public accountant and operational finance leader positions him to support Gaming Corps as it continues its scale-up across global markets.

Current CFO Mikael Bäckström will remain in position until 20 February 2026, before taking on a role focused on broader strategic support within the company, ensuring continuity and a smooth handover.

Juha Kauppinen, CEO at Gaming Corps, said: “Gaming Corps is entering an ambitious next phase of growth, and reinforcing our financial leadership is central to delivering on that strategy. We’re building a structure that allows us to take a major step forward and genuinely challenge the world’s leading game studios, and Fredrik’s international experience and proven track record make him an excellent fit for this journey. We are grateful for Mikael’s continued contribution and pleased he will remain with us during this transition.”

Fredrik Geijer added: “Gaming Corps has established a strong operational foundation with clear momentum across markets. With that groundwork in place, the company now has a real opportunity to advance its position and compete at the very top tier of global game development. I’m excited to join at such a pivotal moment and work closely with Mikael to ensure a seamless and effective transition into the CFO role.”

The post Gaming Corps appoints Fredrik Geijer as Chief Financial Officer appeared first on European Gaming Industry News.

Amusnet

Eye of Ra Roulette 2000x — Amusnet’s Live Casino Journey into the Sun God

Published

55 minutes ago

December 8, 2025

George Miller

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Reading Time: 2 minutes

Amusnet elevates its Live Casino experience with Eye of Ra Roulette 2000x, a premium live roulette game that merges classic game classics with electrifying multiplier mechanics. Set against a striking Ancient Egypt-themed backdrop, this production delivers a modern twist on a timeless favourite, blending sophistication, immersion, and excitement into one unforgettable experience.

Every round is hosted by a charming presenter who guides the action with confidence and charisma – spinning the wheel, announcing results, and shaping an engaging live show. Players enjoy seamless, high-quality streaming enhanced by vivid animations, dynamic camera angles, and captivating sound design that brings the ancient-world theme to life.

At the core of Eye of Ra Roulette 2000x lies the Dynamic Multiplier feature, transforming the traditional paytable into a thrilling world of possibilities. It offers chances of boosting players’ winnings by 30x, 50x, 100x, 200x, 400x, 1000x, and up to a massive 2000x on inside bets, turning each round into a high-energy moment filled with unpredictability and anticipation.

For the first time in an Amusnet Live Casino game title, outside bets also benefit from enhanced payouts. Classic options such as Red/Black, Dozen, Column, Low/High, and Even/Odd can award 5x, 7x, or 10x, introducing a fresh layer of strategy while maintaining the familiar structure of traditional roulette. A 20% premium charge on outside bets unlocks this added potential, creating a compelling new risk-reward balance for players.

Eye of Ra Roulette 2000x is designed for maximum accessibility and global reach. With its intuitive user interface, players can place bets effortlessly using smooth chip controls, drag-to-bet functionality, rapid re-bet options, and a fully adjustable table view.

The game is built for fast, stable, worldwide deployment. Optimised for desktop, tablet, and mobile, it ensures flawless gameplay for an unlimited number of participants every round.

Eye of Ra Roulette 2000x stands as a bold new addition to the Live Casino arena – where classic roulettes meet modern game mechanics, and every spin has the potential to shine with ancient power.

Dynamic Multiplier
The Dynamic Multipliers Feature is triggered during the No More Bets phase, randomly selecting up to seven inside bets for massive boosted payouts. When a number is hit, its standard payout is replaced with a Multiplier that ranges between 30x, 50x, 100x, 200x, 400x, 1000x, or 2000x. Each game round brings unpredictable and thrilling gameplay, keeping players on the edge of their seats as they chase those huge, adrenaline-pumping wins.

Outside Bets
The Outside Bets Feature introduces a fresh twist to classic roulette, giving players the chance to boost Red/Black, Even/Odd, Dozen, Column, and Low/High bets with exciting 5x, 7x, or 10x payouts.

Jackpot Cards
The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.

The post Eye of Ra Roulette 2000x — Amusnet’s Live Casino Journey into the Sun God appeared first on European Gaming Industry News.

AGS Interactive

AGS Interactive Expands Its UK Presence with bet365 Partnership

Published

55 minutes ago

December 8, 2025

George Miller

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Reading Time: < 1 minute

AGS Interactive (AGSi) has solidified its presence across the pond, taking a selection of its best-performing games live in the UK with bet365.

This announcement further cements AGS’ partnership with bet365 building on existing collaborations in the United States, Canada, and Latin America. bet365’s established UK market position and diverse global presence make them a logical strategic partner to support AGS’ global growth initiatives throughout Europe and beyond.

At the time of launch, bet365 players across the UK will have access to more than 20 popular game titles from AGS’ interactive content library. Notable titles include:

Rakin’ Bacon!®
Capital Gains®
3X Ultra Diamond
Shamrock Fortunes®
And more

“We’ve worked closely with bet365 for years and extending our partnership to the UK is an important milestone for AGS,” said Zoe Ebling, Vice President of Interactive at AGS. “It not only reflects the strength of our relationship, but the growing global appeal and potential of our increasingly diverse portfolio of high-performing online slot content. This is a clear sign of where AGS is headed — broader reach, more markets, and a rapidly expanding international footprint.”

“We’re delighted to welcome a selection of AGS’s most beloved slot titles to our UK market,” said a bet365 spokesperson. “This expanded partnership, featuring popular casino slots, and custom-branded titles emphasizes our commitment to providing a Never Ordinary online gaming experience.”

The post AGS Interactive Expands Its UK Presence with bet365 Partnership appeared first on European Gaming Industry News.