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

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“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.

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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.

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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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SOFTSWISS Game Aggregator Breaks the 35,000-Game Mark, Reaffirming Its Status as the Largest Content Hub

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SOFTSWISS, a global tech provider with over 15 years of iGaming expertise, has announced that its Game Aggregator has surpassed 35,000 active titles, reinforcing its position as the industry’s largest games hub. The platform continues to provide operators with a broad portfolio, backed by 99.999%–100% uptime reliability.

In the first half of the year, the Game Aggregator expanded its content offering by 26%, now delivering over 35,000 active games from more than 300 providers – covering every major game category. Operating in 24 jurisdictions, the product ensures full compliance and accessibility for operators worldwide. 

The Game Aggregator equips operators with built-in tools designed to drive engagement and maximise player value. The fully customisable Tournament Tool boosts daily bet volume by 22%, with participants placing twice as many bets and wagering three times more than non-participants. At the same time, Jackpot Aggregator campaigns have been shown to double the average player turnover. These mechanics are more than just features – they are revenue multipliers, seamlessly integrated into the platform.

With slots leading demand, the Fortune Rabbit game and Pragmatic Play external game provider ranking at the top, the Game Aggregator sets the standard for content depth, stability, and business impact.

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SOFTSWISS maintains a 100% uptime commitment, with actual availability consistently measured at 99.999%–100%. This ensures operators never lose a session, a bet, or their players’ trust. 

The Game Aggregator is more than just a product – it’s a technology backbone that drives scalable success for our partners. From instant access to premium content to the industry-leading uptime and proven engagement mechanics, we’re giving operators exactly what they need to compete and win, added Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator.

With a broad and ever-growing game portfolio, full compliance coverage, and tools that drive real results, the Game Aggregator is helping shape the future of iGaming. In a market where 24/7 performance and player trust are essential, SOFTSWISS isn’t just keeping up – it’s leading the way.

 

About SOFTSWISS

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SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 35,000 casino games, Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Game Aggregator Breaks the 35,000-Game Mark, Reaffirming Its Status as the Largest Content Hub appeared first on European Gaming Industry News.

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Exclusive Interview: Firesand Shield – Combatting Account Fraud in iGaming

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In an era where digital threats are becoming increasingly sophisticated, the iGaming industry faces a relentless battle against fraud and cyberattacks. To combat this evolving landscape, European Gaming recently spoke with Chris Blake, Director at Firesand, about their new product, Firesand Shield. This cutting-edge security solution has been developed to tackle the complex tactics of modern fraudsters and hackers head-on.

In this interview, Chris Blake provides an in-depth look at how Firesand Shield was created specifically to combat the rise of account fraud, explaining how these attacks are becoming more automated and stealthy. He details the product’s multi-layered approach that goes beyond traditional bot detection, integrating seamlessly with operator platforms while delivering powerful real-time intelligence. Blake also discusses how Firesand Shield not only protects against fraud but also helps operators meet stringent regulatory requirements in highly regulated markets. Finally, he shares his vision for the future, outlining how Firesand is committed to staying one step ahead of a constantly changing threat environment.

 

Firesand Shield was developed to combat the rise of account fraud within the iGaming industry. How are these attacks evolving, and what level of disruption are they causing?

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Account fraud is becoming more sophisticated. Attackers now use highly automated ‘low and slow’ techniques that avoid detection by mimicking normal user behaviour, which allows them to evade detection, as well as exploit platforms at scale.

In another change, rather than brute force attacks on platforms, we’re seeing credential stuffing attacks powered by breached data and botnets. This is where nefarious actors will use stolen databases of known usernames and passwords to try and gain access to accounts.

The outcome of this is that these attacks can cause significant impacts on operators. Compromised accounts lead to chargebacks, bonus abuse, regulatory issues, and player attrition.

Firesand Shield was built specifically to address these challenges at the level the industry demands. It goes beyond standard bot detection by recognising behavioural indicators that traditional tools miss, using a multi-layered approach that combines analytics, reputation intelligence, and real time risk profiling.

Our proactive, intelligence-led defence ensures that operators have a significant advantage in preventing fraud, maintaining platform integrity, and crucially, preserves a seamless player experience.

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How does Firesand Shield integrate with operator platforms and back ends to deliver a seamless solution? 

Integration can take part via two methods, that are both unobtrusive to the day-to-day activities of a platform. A classic API integration sees operators connect core user workflows, including login, registration, password reset, to Firesand via RESTful APIs. Firesand returns risk scores based on credential health, unusual behaviour, and IP location mismatches.

In addition, through both OAuth for enterprise SSO and simple username and password logins, we can facilitate access to a live dashboard provides visibility into login trends, potential attacks, and detailed metrics.

 

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How can Firesand Shield help operators reduce regulatory risk, especially in highly regulated jurisdictions like the US, UK, or mature European markets?

Modern regulations demand active threat detection, prevention, and response, not just passive tools like firewalls or CAPTCHAs. There are demands now to prove you can detect, prevent, and respond to credential-based threats that potentially compromise platform integrity.

Firesand Shield supports this with real-time detection of threats, human-led attack identification, and unwanted actors.

As well as identifying potential threats, our built-in dashboards offer real-time reporting, instant access to logs and forensic data, and are created to ensure that all reports are audit-ready, with one-click data exports. This removes the operational burden of post-incident analysis, and allows operators to demonstrate control across their estate, satisfying regulators and clients alike.

It all aligns with best practices under various regulations, such as GDPR, gambling commission rules, and state-level cybersecurity legislation in the US. Firesand Shield is not just a fraud prevention tool, but a powerful compliance ally.

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What kind of real-time fraud intelligence and threat response capabilities does Firesand Shield offer for operators managing large-scale player traffic during peak events?

Big sporting events, casino promotions, or game launches are prime targets for attackers. They use the surge in traffic as cover for credential stuffing, account takeovers, and bonus abuse. These aren’t just bot driven, but increasingly human-led or blended threats designed to bypass legacy defences.

Firesand Shield is built for high-volume, high-risk environments, delivering real time results under pressure, and automated mitigation at scale.

With traffic pattern monitoring that detects abnormal spikes in activity, or dynamic reputation scoring, where traffic from known malicious sources can be blocked, the product allows for real time decision making that assists operators. Firesand Shield goes beyond detection, allowing for immediate responses all controlled from our dashboard.

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Even during peak events, Firesand Shield ensures system performance is unaffected while delivering the fraud protection and data required to protect players, satisfy regulators, and maintain operational integrity.

 

With an outlined roadmap of improvements to Firesand Shield, can security software keep pace with the ever-changing landscape of bot-driven fraud attacks?

Absolutely, and it must. The landscape of account fraud, particularly bot-driven attacks, is evolving faster than ever. Attackers continuously adapt, using more advanced automation, machine learning, and even human fraud farms to bypass traditional defences. Static, rules-based systems quickly become outdated. That is why Firesand Shield is built as a living platform with agility at its core.

Our development roadmap is shaped by continuous threat intelligence, client feedback, and industry trends. Upcoming enhancements include:

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  • Additional bot detection
  • VPN detection
  • Adaptive risk-scoring algorithms, tuned in real time to each operator’s unique traffic patterns
  • Machine learning models that evolve as attacker tactics change
  • Expanded breach intelligence feeds to flag compromised credentials faster
  • Operator-led rule customisation, allowing real-time tuning without code or downtime
  • User hygiene scoring, offering visibility into the health of player credentials across your platform

What makes Firesand Shield different is that it is not just reactive, but proactive and predictive. We’re not waiting for attackers to act. Instead, we are constantly learning from data across the iGaming ecosystem and pushing updates to stay ahead.

Built with regulatory frameworks in mind, we have strived to produce a solution that counters multiple pain points experienced across the industry that can have severe effects on operations if bad actors are successful with their intentions.

For operators and regulators alike, this means confidence that Firesand Shield is not just fit for today, but also ready for what’s next. Security software can and must keep pace, and our roadmap ensures that Firesand Shield leads that charge.

The post Exclusive Interview: Firesand Shield – Combatting Account Fraud in iGaming appeared first on European Gaming Industry News.

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Here We Go… Betway Scores announces Fabrizio Romano as their first global ambassador

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Betway Scores, the popular live sports scoring app, has today announced that renowned Italian football journalist Fabrizio Romano has become their first global ambassador.

Famous for his unmatched reliability in football transfer news and his signature phrase “Here We Go”, Romano has built a vast and loyal following across social media, becoming one of the most trusted sources in the sport. With over 100 million followers worldwide, his influence spans the entire football community—from fans to players, clubs, and agents.

In his new role, Romano will regularly provide exclusive updates and insights around the biggest football stories, bringing Betway Scores users closer to the action through his expert commentary. His content will be featured in the app as well as on Betway Scores’ official channels.

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Commenting on his appointment, Fabrizio Romano said:

“I’m excited to be joining Betway Scores as a global ambassador. I look forward to sharing the latest football news and updates. I’m ready to bring interesting insights to Betway Scores users throughout the year.”

A Betway Scores spokesperson, added:

“We’re thrilled to welcome Fabrizio as our first-ever global ambassador. His reputation for accurate information from the football world is second to none. He’ll bring tremendous value to our users.”

Romano’s partnership, facilitated by the team at Double Tap, marks another step in Betway Scores’ commitment to delivering real-time, data-driven content that enhances the football fan experience.

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The post Here We Go… Betway Scores announces Fabrizio Romano as their first global ambassador appeared first on European Gaming Industry News.

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