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LeoVegas AB Q4: Quarterly report 1 October–31 December 2021

Published

4 years ago

February 11, 2022

George Miller

Reading Time: 4 minutes

“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!

Compliance Updates

KSA Completes Its Investigation Into How Minors Could Still Gamble Online Despite Age Restrictions

Published

1 hour ago

April 15, 2026

Wladimir P.

ksa-completes-its-investigation-into-how-minors-could-still-gamble-online-despite-age-restrictions

The Dutch Gambling Authority (KSA) has completed its investigation into how minors could still gamble online despite age restrictions. The investigation shows that it is virtually impossible for minors to gamble with legal gambling providers.

Minors are not allowed to gamble in the Netherlands. When age verification is circumvented, it is primarily done via accounts belonging to adult family members and friends. However, the KSA received reports that it was possible for minors to create accounts with legal online gambling providers and launched an investigation in 2025 as a result.

The study examined the registration process at online gambling providers, with a specific focus on identity verification and bank account verification. Transaction data requested from banks allowed for a more in-depth investigation into potential shortcomings.

The investigation shows that there are virtually no serious irregularities. However, in a very limited number of cases, players were able to use another person’s bank accounts or link their own bank account to another player’s account. This could occur almost exclusively in situations where people have exactly the same initials.

Discussions with online gambling providers revealed that they did not have an immediate solution for this. The KSA notes that such a solution is now available and will engage in a technical session with the online providers to discuss what the KSA expects from the sector in this regard. The KSA will also share its recommendations with the online gambling providers at a later date, and these guidelines will be incorporated into the Wwft guidance.

Michel Groothuizen, Chairman of the Board of the Dutch Gaming Authority, said: “The KSA is deeply concerned about minors gambling. Fortunately, it appears that this hardly ever occurs among licensed providers, but we do have clear indications that it is happening nonetheless. This is likely on the illegal market. Illegal providers often apply no or low standards for age verification and advertise specifically targeting this young demographic, for example via TikTok. This is extremely harmful, and the KSA is therefore working hard to combat the illegal supply. We are also placing a stronger focus on educating minors to make them aware of the risks of gambling.”

The post KSA Completes Its Investigation Into How Minors Could Still Gamble Online Despite Age Restrictions appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Aigars Jurgelans

Amusnet Announces Strategic Partnership with Concorde Casino Group

Published

1 hour ago

April 15, 2026

Wladimir P.

amusnet-announces-strategic-partnership-with-concorde-casino-group

Amusnet, a leading provider of next-generation gaming solutions, has announced a new strategic partnership with the Concorde casino group, which operates three casinos in Cyprus: Concorde Tower Casino in Nicosia, Concorde Luxury Casino in Bafra and Concorde Aria Casino in Kyrenia. This collaboration marks a significant step in Amusnet’s strategy to expand its gaming portfolio into the vibrant Cyprus Land-based casino market.

The partnership’s initial phase includes installing 16 of Amusnet’s state-of-the-art Type S 32 slot cabinets across the two locations. Manufactured to the highest standards of the global casino industry, Amusnet’s premium slot machines combine cutting-edge technology, sleek design and exceptional player engagement. The game selection features some of Amusnet’s most popular titles, including Crazy Red, Candy Palace,100 Extra Crown, Art of Gold, Extra Crown, Vampire Beast and Phoenix Star.

The partnership started with the installation of 16 of Amusnet’s state-of-the-art Type S 32 slot cabinets at the group’s first two casino locations, Concorde Tower Casino in Nicosia and Concorde Luxury Casino in Bafra. Manufactured to the highest standards of the global casino industry, Amusnet’s premium slot machines combine cutting-edge technology, sleek design and exceptional player engagement. The game selection features some of Amusnet’s most popular titles, including Crazy Red, Candy Palace, 100 Extra Crown, Art of Gold, Extra Crown, Vampire Beast and Phoenix Star. The partnership continues with the installation of 8 Type S J55 slot cabinets at the newest Concorde Aria Casino, scheduled to open in May 2026.

“Our expansion into the Cyprus Land-based market is a testament to our shared vision and commitment to quality with Concorde Casino. This partnership provides us with a strong foundation of excellence and mutual trust. The collaboration allows us to continue our mission of providing exceptional gaming experiences, seamlessly introducing the success of our online portfolio to their premium Land-based venues,” said Borislav Marinov, Head of Business Development, Land-based at Amusnet.

“At Concorde Casinos, we are always looking for ways to diversify and strengthen our product offering. In my view, Amusnet brings a product that is particularly well-suited to players who are already familiar with and enjoy online slot games, helping us connect Land-based entertainment with modern player preferences. I am impressed by Amusnet’s innovations, the quality of their products, and the high level of technical support they provide. We are pleased to have them as a partner and look forward to developing this cooperation further,” said Aigars Jurgelans, Slot Director at Concorde Casinos.

The post Amusnet Announces Strategic Partnership with Concorde Casino Group appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

ADI Predictstreet

DAZN Enters into Strategic Partnership with ADI Predictstreet

Published

1 hour ago

April 15, 2026

Wladimir P.

dazn-enters-into-strategic-partnership-with-adi-predictstreet

DAZN, the world’s leading sports entertainment platform, and ADI Predictstreet, the new dynamic prediction market, have entered into a landmark strategic partnership to deliver a new era of interactive engagement to fans around the world.

DAZN will integrate ADI Predictstreet, the Official Prediction Market Partner of the FIFA World Cup 2026, into its platform, enhancing DAZN’s ecosystem of live and on-demand sports viewing, real-time scores, news, betting, gaming and FanZone.

DAZN’s footprint provides unparalleled distribution for ADI Predictstreet’s prediction market infrastructure. Through this partnership, prediction becomes a native part of the fan experience—embedded before, during, and after live events—allowing fans to engage with market sentiment, probability, and collective insight in real time.

This collaboration brings together two FIFA partners to create a seamless ecosystem where sport and prediction converge. Embedded directly into DAZN’s live streams, ADI Predictstreet will enable interactive prompts, real-time sentiment tracking, and dynamic prediction experiences tied to the world’s biggest sporting moments.

ADI Predictstreet, powered by ADI Chain’s blockchain infrastructure, is a new forecasting market platform that is programmed and trained on FIFA’s official historic data, allowing fans to predict things such as match outcomes, tournament statistics, and breakout players throughout the competition using an educated approach.

While the FIFA World Cup 2026 will serve as a launchpad, the partnership extends across DAZN’s premium sports portfolio. ADI Predictstreet will roll out across major leagues and events, driving deeper, more continuous fan engagement.

Shay Segev, CEO of DAZN Group, said: “DAZN is redefining sports entertainment by making it more immersive, interactive and connected for every fan. Partnering with ADI Predictstreet allows us to embed real‑time prediction directly into the live viewing experience, turning insight and sentiment into a native part of how fans engage with the world’s biggest sporting moments. With the FIFA World Cup 2026 as a catalyst and our platform as the engine, this partnership is a major step forward in how fans experience sport.”

Dimitrios Psarrakis, CEO at Predictstreet, said: “This partnership marks a defining moment in how audiences will experience sport. By combining DAZN’s unmatched reach with ADI Predictstreet’s real-time participation layer, we are transforming fans from spectators into active participants. This is not just an evolution of engagement, it is the creation of a new category where technology, collective intelligence, and global events intersect at scale.”

Designed to reward insight and informed participation, and with community building and interactive engagement sentiment at its core, ADI Predictstreet offers supporters new ways to engage with iconic sporting moments across DAZN’s sporting portfolio, including the FIFA World Cup 2026.

Underpinning this ecosystem is ADI Chain, an institutional-grade digital infrastructure designed to support high-volume, real-time transactions with transparency, security, and scalability at its core. This foundation enables ADI Predictstreet to operate seamlessly at global scale, supporting millions of users across live environments while maintaining a trusted and robust digital framework.

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