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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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BVGroup integrates ThrillTech’s ThrillPots™ jackpot solution to deliver thrilling new player experiences

Innovative side-bet jackpots launch across BetVictor, Heart Bingo, and BVGroup’s wider brand portfolio
BVGroup, a leading gambling operator and technology solutions provider, has partnered with player engagement specialist ThrillTech to launch its licensed ThrillPots™ jackpot solution across its portfolio of brands.
The integration introduces a fresh wave of entertainment for BVGroup customers, enabling bespoke side-bet jackpots that add excitement to every spin, hand, and wager.
ThrillPots allows players to opt-in and contribute to progressive jackpots without interrupting core gameplay – creating the chance for surprise and thrilling wins.
BVGroup operates a suite of renowned brands including BetVictor, Heart Bingo, talkSPORT BET and Betano UK.
With ThrillPots, these brands can now offer players dynamic jackpot products designed to heighten engagement and bring a new dimension of fun across both the Gaming and Sportsbook products.
Ben Bradtke, co-founder of ThrillTech, said: “Partnering with BVGroup, a household name in the UK, makes ThrillTech’s entry into this vibrant market even more exciting. Our ThrillPots solution is built to deliver entertainment – jackpots that surprise, excite and keep players engaged. BVGroup’s reputation for delivering player-first experiences makes them an ideal partner.”
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The post BVGroup integrates ThrillTech’s ThrillPots™ jackpot solution to deliver thrilling new player experiences appeared first on European Gaming Industry News.
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SYNOT Games Partners with WIN2

SYNOT Games, a leading content and solutions provider in the iGaming industry, has announced a new partnership with WIN2 in Romania, further expanding its presence in regulated markets.
As part of this collaboration, 134 SYNOT Games titles are now available on WIN2, including top-performing titles like Skull Bonanza, 27 Joker Fruits and Amazons’ Wonders. The integration was made possible through Crowd Entertainment, a trusted content aggregator with whom WIN2 recently initiated cooperation. This three-way partnership has enabled a smooth and efficient rollout of SYNOT Games’ content, setting the foundation for further expansion.
This launch marks a significant step forward for both companies, ensuring WIN2’s players gain access to SYNOT Games’ diverse and engaging portfolio, known for its striking visuals, smooth gameplay and mobile-first design.
WIN2 has also expressed a strong interest in making all SYNOT Games’ certified titles available soon, reinforcing the platform’s commitment to delivering quality, variety and regulated entertainment to its user base.
“We are excited to welcome WIN2 as a new partner and to bring our games to their growing player community,” said Martina Krajčí, CCO at SYNOT Games.
“This cooperation reflects our continued focus on expanding our footprint across trusted and certified platforms, and we look forward to a successful journey together.”
Dragoș Mămăligă, Deputy Director at WIN2, said: “Adding SYNOT Games to our portfolio means expanding our offering with proven, high-quality content that players love. We are thrilled to provide our players with access to such a wide and dynamic portfolio and are already working towards making even more titles available soon.”
The post SYNOT Games Partners with WIN2 appeared first on European Gaming Industry News.
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Sleek New UI: A fully redesigned interface built for seamless usability on all devices.
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The post Creedroomz Introduces Cashout Blackjack appeared first on European Gaming Industry News.
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