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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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2026 FIFA World Cup
Media Troopers brings its sports betting expertise to Peru ahead of the 2026 FIFA World Cup
Media Troopers, the leading digital and customer acquisition group, has announced it will enter Peru’s regulated market to offer its sports betting and prediction market services ahead of the 2026 FIFA World Cup.
The 2026 FIFA World Cup, which will be played from 11 June to 19 July across the US, Canada, and Mexico, is a defining moment for the global online wagering industry, and one that Media Troopers aims to help operators capitalize on.
Peru is one of LatAm’s newest regulated markets, launching in 2024.
It’s home to more than 60 online operators, with its gaming regulator having granted 120 licenses since the launch.
In 2024, Peru’s regulated market was valued at $2.7 billion, with analysts expecting projected growth to reach $7.6 billion by 2033.
Media Troopers CEO Shmulik Segal says that Peru’s current regulated market represents the early stages of regulated sports betting in the US, noting that it currently boasts strong consumer demand and rapid operator expansion.
“Media Troopers is bringing mature-market expertise into Peru at precisely the moment the market is ready to scale,” Segal said.
By entering Peru, Media Troopers can offer its wide range of marketing and acquisition tools to operators in the region.
That includes providing operators with soccer-focused marketing channels, access to a variety of existing publishers and affiliates, and localized features that help operators scale their platforms to reach a more tailored audience, increase engagement, and build a trusting brand presence in the area.
Media Troopers has positioned itself as the gateway between exporting North American betting infrastructure into new, emerging markets, as it prepares for the next evolution of online wagering.
MediaTroopers was founded in 2019 with the vision of providing legal, safe, and responsible gambling alternatives to sports bettors and casino players.
Since then, the company has grown to operate in over 40 jurisdictions across North America.
MediaTroopers leverages decades of digital marketing experience, extensive in-house media buying knowledge, mobile advertising expertise, a robust technical infrastructure, and an extensive network of in-house and affiliated publishers to acquire paying customers for the world’s top gambling operators, including BetMGM, Caesars, DraftKings, FanDuel, BetRivers and more.
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Alberta
Play’n GO granted Alberta iGaming licence, expanding Canadian market footprint
The Swedish gaming giant confirms its entry into another regulated market, with its industry-leading portfolio of games set to launch in Alberta.
Play’n GO, one of the world’s leading casino entertainment providers, has been granted a licence to supply online gaming content in the Canadian province of Alberta, marking another milestone in the company’s expansion across regulated North American markets.
The licence, awarded by the Alberta Gaming, Liquor & Cannabis Commission (AGLC), allows the company to offer its portfolio of premium online casino titles to licensed operators in the province ahead of Alberta’s planned market launch later this year.
Alberta represents an important new regulated opportunity within Canada, complementing Play’n GO’s established presence in Ontario and Quebec, while reinforcing the company’s commitment to operating exclusively in regulated jurisdictions.
Magnus Olsson said: “Being granted a licence in Alberta is another important step in our North American growth journey and further strengthens our presence in Canada.
“Regulated markets are the foundation of our business, and Alberta represents an exciting opportunity to expand our footprint in a jurisdiction that shares our commitment to high standards, player protection and long-term sustainability.”
The Alberta licence forms part of Play’n GO’s broader strategy of expanding through regulated markets, working closely with licensed operators to deliver compliant, high-quality gaming content focused on innovation, responsibility, and long-term commercial value.
As part of its market entry preparations, the company has aligned its technology and game portfolio with Alberta’s regulatory standards and requirements, with an initial batch of titles already undergoing certification to ensure launch readiness.
About Play’n GO
With more than 20 years of experience in mobile-first gaming, Play’n GO is a global leader in casino entertainment and the creator of some of the industry’s most iconic online titles, including Rich Wilde and the Book of Dead, Reactoonz, and Moon Princess.
A pioneer in the sector, Play’n GO was among the first to recognize the potential of mobile gaming, developing casino content for mobile devices as early as 2005, before the smartphone era.
Today, the company offers a portfolio of more than 450 premium titles, available to regulated operators across over 35 jurisdictions.
Play’n GO is strongly committed to a fully regulated, sustainable gaming industry built around entertainment, safety, and long-term collaboration.
The company works closely with operators, regulators, and research institutions to promote responsible gaming standards across all markets in which it operates.
With a deep understanding of both operators’ and players’ needs, Play’n GO focuses on creating high-quality, enduring content designed for long-term engagement.
In addition to game development, the company also provides backend services and solutions that support operators in delivering a seamless gaming experience.
Beyond gaming, Play’n GO has expanded into complementary entertainment verticals with Play’n GO Music and Play’n GO Shop, and is also a proud partner of the TGR Haas F1 Team.
For more information, please visit www.playngo.com
The post Play’n GO granted Alberta iGaming licence, expanding Canadian market footprint appeared first on Americas iGaming & Sports Betting News.
betting market
BiS Brasília brings together experts and authorities to discuss the future of Brazil’s betting market
The event takes place on June 2–3 at the Royal Tulip Brasília Alvorada, featuring discussions on regulation, international cooperation, and the profile of Brazilian bettors.
The second edition of BiS Brasília has officially been confirmed and is expected to bring together major names from the sports betting, iGaming, and regulatory sectors in Brazil.
The event will be held on June 2 and 3 at the Royal Tulip Brasília Alvorada, with a program focused on strategic debates, networking, and discussions about the future of Brazil’s regulated market.
With an emphasis on innovation, responsibility, and the sustainable development of the industry, the event will bring together national and international experts to discuss the challenges and opportunities facing the sector at a decisive moment for the Brazilian betting market.
Among the confirmed panels is “International Cooperation and Strategic Bridges for a Regulated, Solid, and Responsible Sector in Brazil,” featuring John Aquilina.
The discussion will focus on the importance of international collaboration and the development of strategic relationships to strengthen a safe, transparent, and responsible regulatory environment in the country.
Another highlight of the program will be the panel “The Profile of the Brazilian Bettor,” presented by Thiago Iusim. The session will analyze consumer behavior, trends in the domestic market, and challenges related to user protection and responsible gaming.
The organizers aim to consolidate Brasília as one of the country’s main hubs for discussions surrounding regulation, technology, and business opportunities connected to sports betting and digital entertainment in Brazil.
“BiS Brasília was created to strengthen dialogue among companies, specialists, authorities, and international representatives, promoting essential discussions for the development of a more mature, transparent, and sustainable industry,” said Cardama, co-founder of BiS Brasília.
Those interested in attending the event can purchase tickets through the official portal.
Now in its second edition, BiS Brasília is an event dedicated to the iGaming and betting ecosystem, promoting dialogue between the private sector, public authorities, and society regarding the development of Brazil’s regulated gaming, casino, and lottery market.
The event brings together business leaders, authorities, and specialists to discuss strategic topics such as Brazilian regulation, taxation, integrity, innovation, responsible gaming, compliance, AML/anti-money laundering measures, licensing, sports integrity, government relations, and advertising and CONAR guidelines.
SiGMA World’s BiS SiGMA South America is part of the event portfolio of the SiGMA Group, one of the leading global B2B event and business platforms focused on the gaming and betting industry.
The post BiS Brasília brings together experts and authorities to discuss the future of Brazil’s betting market appeared first on Americas iGaming & Sports Betting News.
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