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LeoVegas AB Q4: Quarterly report 1 October–31 December 2021
“Strong end to the year with many growth initiatives” – Gustaf Hagman, Group CEO
FOURTH QUARTER 2021: 1 OCTOBER – 31 DECEMBER
- Revenue amounted to EUR 98.2 m (98.4). Revenues were unchanged compared with the same period last year. Excluding Germany and the Netherlands, revenues increased by 26%.
- Organic growth in local currencies was -4%.
- Net Gaming Revenue (NGR) from regulated markets and markets in which the company pays local gaming taxes was 74% (67) of total NGR.
- EBITDA was EUR 11.6 m (11.5), corresponding to an EBITDA margin of 11.8% (11.7).
- The number of depositing customers was 456,063 (461,983), a decrease of 1%.
- Adjusted earnings per share were EUR 0.07 (0.08).
EVENTS DURING THE QUARTER
- LeoVegas repurchased shares for EUR 2.1 m and distributed the third quarter dividend (EUR 3.9 m).
- Following policy changes in the Netherlands, LeoVegas decided to stop providing its services in the country as from 30 September 2021. As such, the company had no revenue from the Netherlands in the fourth quarter (compared with 6% of the Group’s total revenue during the third quarter). The company will apply for a licence during the first quarter.
- LeoVegas was granted renewed gaming licences by the Danish Gambling Authority.
EVENTS AFTER THE END OF THE QUARTER
- Preliminary revenue in January amounted to EUR 35.5 m (32.5), corresponding to growth of 9%. Excluding Germany and the Netherlands, revenue increased by 24%.
- The Board of Directors proposes an increased dividend of 5 percent to SEK 1.68 per share (1.60), to be distributed on four occasions over the course of the next 12 months.
- LeoVegas applied for a gaming licence for the Canadian province of Ontario.
- The establishment in New Jersey in the US is proceeding according to plan and the recruitment of a local team has begun.
- In January, LeoVegas distributed the fourth dividend (EUR 3.8 m) of a total of four to the Parent Company’s shareholders.
COMMENT FROM GUSTAF HAGMAN – GROUP CEO
FOURTH QUARTER
I am proud of how we concluded 2021 and how we offset the revenue loss related to the ongoing regulatory changes in Germany and the Netherlands. In the fourth quarter, sales were unchanged compared with the preceding year. However, excluding the two abovementioned markets, growth was some 26%, which demonstrates our strong underlying growth.
Adjusted EBITDA improved somewhat year-on-year, despite ceasing to provide our services in the Netherlands while waiting for a gaming licence, which was previously one of our most profitable markets. At the same time, we have paid more gaming taxes than ever before during the quarter. The improved profit was achieved through good cost control and higher marketing efficiency.
During the quarter and the full-year 2021, we took several important steps as a company, which we expect to drive growth for many years to come. We increased our strategic focus on sport with the acquisition of the brand Expekt. The new launch of Expekt has been a major success, with sales increasing almost fourfold since the acquisition. We are now planning to expand into more markets. We have also commenced establishing operations in the US, where the online gaming market is still in its infancy. We are seeing significant potential for a smartphone-oriented casino expert like LeoVegas in North America, where we already hold a leading position in Canada. We also invested in our own gaming studio during the year. The first games are expected to be launched shortly and over 15 titles are planned for 2022. Our own contents provide us with a more unique gaming experience, greater customer loyalty and lower costs.
We demonstrate a high ability to adapt and continue to drive innovation even when faced with turbulent times. An increasing number of European countries are becoming regulated and some 74% of our revenue is currently regulated and/or taxed. The external market environment will remain erratic and turbulent in places, but we are well-positioned to manage this. Armed with all of our ongoing growth initiatives, I feel optimistic ahead of 2022.
MARKETS
Our underlying customer activity and growth remain favourable. In general, we are growing faster than our competitors in the markets that are not affected by major external events and where equal conditions apply for all operators. A good example of this is Sweden, where we reached a new record level during the quarter. LeoVegas is currently the largest private operator in the Swedish market, something we have accomplished with strong brands, the best product and data-driven marketing. We continue to see favourable growth prospects in Sweden.
As previously mentioned, a re-regulation period is ongoing in the Netherlands and in the Canadian province of Ontario. In the Netherlands, we decided to stop providing services to gamers from 30 September 2021 pursuant to the latest regulations. At the start of 2022, we have applied for licenses in the Netherlands and Ontario we applied for a license in Ontario and will apply for a license in the Netherlands during the first quarter. Our ongoing expansion in the US, with New Jersey as the first state, is proceeding according to plan. We have commenced recruitment of a local team and completed much of the technical development as well as initiated the certification process of LeoVegas’ proprietary technical platform (PAM, Player Account Management). We also began efforts for the expansion into additional US states.
TEN YEARS
At the beginning of 2022, LeoVegas turned ten years old. The company, our product and the entire industry has developed enormously since my co-founder, Robin Ramm-Ericson, and I, started LeoVegas. Today, the industry is much more complex with more stringent requirements and tougher competition. At the same time, LeoVegas has taken tremendous strides and matured in many areas, making us stronger than ever before. We always aim to be at the forefront of customer focus, technology and data-driveness, but also continue to continually challenge ourselves to be better in all areas. I can affirm that LeoVegas with all its employees will continue to drive the industry forward with the mobile gaming experience in the spotlight. We are continually making progress as we stand on the starting line of ten more intense and exciting years!
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All the Ways Players Pay: Super Bowl
Paysafe research: Half of Super Bowl fans to bet in regulated North American markets
Payment speed and brand reputation remain crucial for bettors’ selection of online sportsbooks for Super Bowl LX, with 27% expecting to wager more than usual
In the countdown to this Sunday’s Super Bowl LX in Santa Clara, California, 51% of fans who’ll follow the football game in U.S. states and Canadian provinces with regulated sports-betting plan to bet online, according to research issued today by leading payments platform Paysafe. The company’s All the Ways Players Pay: Super Bowl report also indicates strong interest in legal betting from fans in this year’s host state, if California were to regulate sports-betting, as well as in Texas and Canada’s Alberta.
Appetite to legally wager in California, Texas, and Alberta – with the Canadian province expected to launch its jurisdiction before year-end – rivals the regulated market, with 52% of fans keen to wager on future Super Bowls. Across these currently unregulated jurisdictions and regulated sports-betting markets alike, fans consider payments crucial for online sports betting.
Surveying fans intending to bet in the regulated markets of Florida, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Canada’s Ontario, the report reveals that 59% of them plan to place bets on game-day and 27% expect to wager more than usual. Their top criteria when choosing an online sportsbook are brand trust (prioritized by 43%) and streamlined payouts (37%). Cashing out a Super Bowl bet seamlessly is considered more important than every other non-payment factor, including good odds (30%), UX (22%), promos (21%), and sports events (14%).
Other payment factors are also instrumental in how fans in regulated markets choose sportsbooks, especially rapid deposits (prioritized by 25%) and range of payment methods (24%).
With bettors prioritizing their go-to payment methods’ availability, the battle for Super Bowl customers will likely be won in part by sportsbooks with diverse cashiers.
Across the regulated market, players’ preference for debit cards (43%) is today rivalled by digital wallets (42%). And while states like Massachusetts ban credit cards for wagering, they remain a preference for 33% overall, rising as high as 51% in New York and 47% in Ontario, the top choice in the province.
With established local payment methods (LPMs) like Venmo in the U.S. and Interac e-Transfer in Canada, it’s no surprise that 20% of bettors expect to see their favorite LPM at the cashier. And with 17% of players preferring to wager with pay-by-bank solutions and 10% favoring eCash, sportsbooks with these options will likely gain a competitive edge.
With over a quarter of bettors expecting to wager more than normal, the game offers an important short-term revenue opportunity, but the real value for operators is retaining customers for the long-haul – and here payments are also key. If the payment experience goes awry for the game, 84% of bettors would switch brands.
While California, Texas and Alberta are yet to launch regulated sports-betting markets, Super Bowl fans there are already aware of payments’ importance. If wagering were legal, fans would prioritize payment factors – fast payouts (29%) and rapid deposits (26%) – above everything but brand reputation (36%) when selecting a sportsbook.
Zak Cutler, President of Global Gaming at Paysafe, commented: “Super Bowl LX is expected to generate a record $1.71bn in legal wagers from the U.S. market alone, with an unprecedented betting volume also likely in Canada’s Ontario. The game represents a massive growth opportunity for North American online sportsbooks, and our research indicates that operators that are laser-focused on their cashiers and streamlining the payment experience will give themselves an edge in a highly competitive market.”
The post Paysafe research: Half of Super Bowl fans to bet in regulated North American markets appeared first on Americas iGaming & Sports Betting News.
Boomerang Partners
Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase
As the global sports calendar enters one of its most intense and opportunity-rich periods, Boomerang Partners is preparing an activation designed to capture the full attention of affiliate teams worldwide. The agency has released a teaser video featuring players from AC Milan, its Official Regional Partner, signaling the upcoming launch of TIME TO WIN — an exclusive initiative built specifically for affiliates.
The video, already sparking anticipation across the industry, delivers two clear messages: TIME TO WIN and Save the date. The full reveal is scheduled for February 12.
More Than a Campaign
Although details remain tightly under wraps, one thing is already evident: TIME TO WIN is not a conventional affiliate campaign or a one-off promotion. The teaser features AC Milan stars Ruben Loftus-Cheek, Alexis Saelemaekers, Christian Pulisic, Adrien Rabiot, and Rafael Leão — stopping just short of revealing what’s coming next.
Behind the scenes, TIME TO WIN appears to be a carefully engineered project built at the intersection of elite sport, affiliate expertise, and precise timing. It reflects Boomerang Partners’ long-term strategy of supporting affiliates during the most competitive moments of the sports season, where speed, readiness, and execution make the difference.
Powered by One of Football’s Most Iconic Clubs
The involvement of AC Milan is no coincidence. As Boomerang Partners’ Official Regional Partner, the club plays a central role in the TIME TO WIN concept, bringing global prestige, massive reach, and elite sporting credibility.
This partnership allows affiliate teams to align with one of the most recognizable football brands in the world, blending top-tier football energy with performance-driven marketing opportunities. As part of the broader collaboration, Boomerang Partners and AC Milan are preparing multiple initiatives throughout the season — including exclusive experiences, high-impact campaigns, and the launch of the AC Milan Hub, a dedicated portal centralizing all partnership-related activities.
Preparation Makes the Difference
While the full scope of TIME TO WIN will only be revealed on February 12, affiliates can already prepare by leveraging Boomerang Partners’ Sports Marketing & Betting Calendar 2026. This expert resource is designed to help partners anticipate peak moments, plan campaigns in advance, and make smarter decisions when competition is at its highest.
A Critical Window for Affiliates
The timing of TIME TO WIN aligns perfectly with one of the busiest stretches of the sports year. February and March feature a packed schedule of global events, including:
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The Olympic Winter Games Milano Cortina 2026
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UEFA Champions League knockout stages
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Men’s Basketball World Cup Qualifiers
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Major tennis tournaments such as Indian Wells and the Miami Open
For affiliate teams, this period demands precision, rapid execution, and well-timed activations — exactly where TIME TO WIN is positioned to deliver a strategic edge.
What Affiliates Can Expect
While Boomerang Partners is keeping the finer details confidential for now, expectations are high. TIME TO WIN is shaping up to be one of the most ambitious and exclusive affiliate activations of the 2026 sports season — a high-impact opportunity designed for teams ready to perform when it matters most.
The wait won’t be long. Full details of TIME TO WIN will go live on February 12 via the Boomerang Partners website.
Stay tuned.
About Boomerang Partners
Boomerang Partners is a fast-growing global marketing agency delivering a wide range of affiliate and entertainment services. An Official Regional Partner of AC Milan, the agency launched the Golden Boomerang Awards in 2024 — a global affiliate tournament that attracted more than 400 teams in its second season in 2025.
Between 2024 and 2025, Boomerang Partners’ clients launched six new products, driving nearly 1.5x growth in product users. The agency’s portfolio includes more than 10 brands operating across 40+ regulated markets, offering personalized bonuses and 24/7 multilingual support.
The post Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Boomerang Partners
Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase
As the global sports season enters one of its peaks, Boomerang Partners is preparing a move designed to attract the full attention of affiliate teams. The company has released a teaser video featuring players of its Official Regional Partner, AC Milan. Thus, it hints at the upcoming launch of TIME TO WIN – an exclusive activation for affiliates.
Not a standard campaign
While full details remain undisclosed, the first glimpse of TIME TO WIN has already set the tone. In the teaser video, AC Milan stars Ruben Loftus-Cheek, Alexis Saelemaekers, Christian Pulisic, Adrien Rabiot, and Rafael Leão stop short of revealing anything beyond two signals: TIME TO WIN and Save the date. One thing is already clear: this is not a standard campaign or a one-off activation. Based on our insights, it will be a project built at the intersection of elite sport, affiliate expertise, and a deep understanding of peak interest in major sports events, where speed of execution, precise timing, and strategic readiness define results. Designed with these factors in mind, TIME TO WIN reflects Boomerang Partners’ long-term approach to supporting affiliate partners during the most competitive phases of the sports calendar.
A partnership with one of football’s most iconic clubs
The connection with AC Milan is no coincidence. As Boomerang Partners’ Official Regional Partner, the Club is an integral part of the TIME TO WIN concept, lending its world-class sporting prestige and global reach. This collaboration allows affiliate teams to engage with one of the most recognized football brands in the world, combining the excitement of top-level football with marketing opportunities designed for peak performance.
Through this partnership, Boomerang Partners and AC Milan are preparing a series of initiatives throughout the season, including exclusive experiences, high-impact campaigns, and the launch of the AC Milan Hub – a unique portal providing centralized access to all the activities related to the Boomerang and AC Milan partnership.
Preparation is key
While we don’t yet know exactly what Boomerang Partners will launch on February 12th, we believe the company’s Sports Marketing & Betting Calendar 2026 will assist partners in this regard. This expert guide enables affiliate teams to prepare ahead of the hottest moments of the sports season and make more informed decisions when it matters most.
A peak period for affiliates
The timing of this activation is no coincidence. February and March mark one of the peak periods of the sports season, with major events such as the Olympic Winter Games Milano Cortina 2026, the UEFA Champions League knockout rounds, men’s basketball World Cup Qualifiers, and top-tier tennis tournaments like the Indian Wells Masters and the Miami Open. For affiliate teams, these weeks require careful planning, timely campaign setup, and fast execution. This is exactly the time when participation in TIME TO WIN offers a strategic advantage.
What affiliates can expect
Participation in TIME TO WIN offers affiliate teams a chance to engage with one of the most anticipated initiatives of the 2026 sports season. While full details remain under wraps, the scale and ambition of the activation are already clear: it will be a high-impact, exclusive opportunity that affiliates won’t want to miss.
So what’s coming next? The answer will be revealed on February 12, when full details of the TIME TO WIN activation go live on the Boomerang Partners website. Stay tuned.
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 client portfolio contains 10+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.
The post Boomerang Partners prepares a major affiliates activation, TIME TO WIN, as the Year of Sports enters its hot phase appeared first on Americas iGaming & Sports Betting News.
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