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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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Evoplay
Evoplay celebrates the holidays with fast-paced fun in Uncrossable Rush X-mas
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Evoplay, the award-winning game development studio, has given its hit title Uncrossable Rush a festive makeover with the release of Uncrossable Rush X–mas.
The new edition reintroduces Eggwina, the fearless chicken from the original game, for another wild road-crossing adventure, this time through a snowy landscape filled with flashing lights, holiday traffic, and plenty of chaos.
Based on the mechanics of CrossyRun under the licence from SlotСatalog, Uncrossable Rush X–mas challenges players to guide Eggwina across 32 unpredictable lanes, dodging cars and trucks to reach the other side.
Players can cash out their winnings at any moment or take another risky move to test their luck for bigger rewards.
Designed to meet the excitement of the year’s most active period, the game now features an expanded multiplier distribution across more tracks, creating a longer progression curve and stronger momentum throughout each run.
These improvements heighten engagement and make every round more rewarding while preserving everything players loved about the original release.
Four difficulty levels allow players to choose their pace, ranging from a gentle holiday stroll to full-speed festive mayhem. The higher the setting, the faster the traffic flows and the larger the starting multiplier increases.
No two rounds are alike, with randomised traffic patterns ensuring each run remains fresh and unpredictable.
For those who like to plan ahead, the game’s autoplay mode offers complete control, allowing players to set bet amounts, behaviour after wins or losses, and even stop conditions for profit or loss.
Ivan Kravchuk, CEO at Evoplay, said: “Uncrossable Rush X–mas brings back the fun and intensity of the original while adding a joyful twist. We’ve enhanced progression and engagement to create a more dynamic experience that captures the excitement of the holidays, giving players plenty of reasons to jump in and enjoy the rush.”
“With its playful design, fast-paced gameplay, and spirit of adventure, Uncrossable Rush X-mas delivers an experience that perfectly fits the energy and excitement of the most exciting time of the year.”
The post Evoplay celebrates the holidays with fast-paced fun in Uncrossable Rush X-mas appeared first on European Gaming Industry News.
Book of Abyss
Explore the Cursed Diary in Just Slots’ New Game, Book of Abyss
Reading Time: 2 minutes
Malta-based iGaming developer, Just Slots, has announced the release of its latest slot title, Book of Abyss. In this dark fantasy adventure, players descend into the realm of Abyss, a fallen queen demoness bound to a cursed diary. Every spin of the reels echoes Abyss’s torment, and when the mystical Book feature opens, players peer into forbidden chapters of her soul. Each expanded page reveals fragments of Abyss’s desire, vengeance and eternal struggle, making Book of Abyss more than just a slot, but a ritualistic journey into passion and damnation.
While built on the familiar “Book” mechanics that fans love, Book of Abyss pushes the boundaries further with powerful visuals and narratives, and a huge 150,000x max win. Free spins plunge players into Abyss’s blazing underworld, where expanding symbols and high multipliers turn every spin into a battle for domination. The game also offers Bonus Buy and the popular HotSpin feature, giving players extra ways to ignite the action. In short, Book of Abyss feels comfortably familiar but boldly fresh, blending the beloved style of Book of Arcane with a darker and more seductive twist, and pushing the max win potential even higher.
Inspired by gothic fantasy and occult myth, Abyss portrays a dangerous yet captivating fallen queen. Her design is painted in a palette of cold emerald shadows and scorching inferno reds to reflect her dual nature, restraint on the page versus wrath unleashed. Book of Abyss expands creative horizons with its blend of myth, sensuality and suspense. Just Slots has crafted it with its audience in mind, knowing players crave immersive and narrative driven slots with frequent bonuses. The game’s mystical theme, striking aesthetic and rich storytelling diversifies the company’s portfolio and continues its trend of reinventing bold new concepts, from the candy coated charm of Sugar Heaven to the mystical allure of Book of Arcane.
Commenting on the release, Christine Parkhill, Chief Commercial Officer at Just Slots, said, “Book of Abyss is an epic adventure. We’ve taken the successful formula of our ‘Book’ game and plunged it into a deeper and darker territory. Players can expect the high-volatility features they love including expanding symbols, free spins, multipliers and a massive 150,000x max win, wrapped in a haunting gothic tale of desire and vengeance. Every page of Abyss’s cursed diary that players unlock immerses them further into her forbidden world. Book of Abyss is a ritualistic journey through the soul of a demoness and we can’t wait for players to explore its secrets page by page.”
Book of Abyss goes live today and will be available on leading sites such as Gamdom.com, Biggg.com , Stake.com , LuckyDreams.com and more. A demo is also available on Just Slots’ website, inviting players to get a sense of Abyss’s realm before embarking on the full experience. To keep the fire of Abyss’s story burning long after launch, Just Slots plans operator-led tournaments, instant prize drops and streamer collaborations, offering extra excitement beyond the core gameplay.
The post Explore the Cursed Diary in Just Slots’ New Game, Book of Abyss appeared first on European Gaming Industry News.
Latest News
Rings of Prosperity channels divine favour
Reading Time: 2 minutes
Play’n GO presents Rings of Prosperity, a slot rooted in ancient mysticism and the power of celestial guidance.
Play’n GO’s Rings of Prosperity draws on the influence of Eastern mythology, placing players under the protection of the Dragon God – a symbol of strength and abundance. Following in the footsteps of narrative-led titles such as Temple of Prosperity, this 5-reel slot embraces a thematic focus on balance and transformation, expressed through sacred rings, golden coins, and the celestial influence of a Prosperity Wheel.
With its strong visual identity and symbolic layering, Rings of Prosperity creates a holistic player experience that’s both visually rich and narratively focused.
The heart of the game lies in its interconnected symbols and celestial mechanisms. RINGS – in green, red, and purple – appear and evolve through the divine will of the Dragon God, ultimately transforming into golden coins. These coins are more than visual rewards – they symbolise earned blessings, tying directly into the theme of spiritual wealth.
At pivotal moments, the Prosperity Wheel spins into view, acting as a divine arbiter. This design choice elevates the gameplay by anchoring key moments in the will of a higher force, rather than random chance – in line with Play’n GO’s focus on storytelling-led slots that prioritise immersion and meaning.
Rings of Prosperity shares conceptual DNA with titles such as Temple of Prosperity and Fortune Rewind, continuing Play’n GO’s exploration of time, wealth, and divine influence. While Temple of Prosperity invokes nature spirits and ritualistic iconography, Rings of Prosperity focuses on celestial transformation – using colour, motion, and myth to communicate progress and reward.
Magnus Wallentin, Games Ambassador at Play’n GO said:“Our goal with Rings of Prosperity was to build a symbolic system players could intuitively connect with. Every visual element feeds into the core narrative.”
With its elegant symbolism and visual clarity, Rings of Prosperity rewards players not just with gameplay, but meaning.
The post Rings of Prosperity channels divine favour appeared first on European Gaming Industry News.
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