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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.

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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N1 Partners at SiGMA Central Europe 2025 Results: A Key Pit Stop on the Road to the Helicopter

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N1 Partners turned its presence at SiGMA Central Europe 2025 into a full-throttle hub for business and networking — reconnecting with partners, solidifying collaborations, and expanding shared strategies at N1 Partners’ booth. The event became another major milestone in the journey toward the grand finale of the flagship N1 Puzzle Promo campaign.

This stop followed London and Lisbon earlier in the year, where each event revealed a new chapter of the promo’s story. London introduced the branded iconic double-decker Wealth Bus activation, Lisbon added the “Surfing on the Waves to Success” experience, and Rome brought an Italian racing-spirit pit-stop concept, fueling the next pace of the competition.

“Our road to the N1 Puzzle Promo final in Barcelona is made up of many milestones, the brightest of which are London, Lisbon, and now Rome,” says Alexa Bond, Head of Affiliates at N1 Partners. “Each point isn’t just an event. It’s where we meet partners in person, plan new steps together, and keep moving forward. Rome felt like a ‘pit stop’ in the best sense – a moment to refuel, check the direction, and continue the race toward the helicopter.”

A Booth That Never Stopped Moving

The N1 Partners stand became one of the most vibrant spots of the exhibition floor, drawing continuous attention from attendees and media alike.

  • 500+ productive meetings were held with major affiliates and key iGaming players.
  • 600+ portions of gelato were served — a crowd favorite symbolizing the Italian touch.
  • 200+ N1-branded merch packs were handed out, quickly becoming recognizable visuals across the venue.
  • 300+ participants took part in the HeliRun Challenge, the bespoke mechanical time-trial maze where accuracy, speed, and focus count.
  • 250+ took part in the LEGO Ferrari giveaway, with the lucky winner describing their prize as “an everyday reminder of how competition keeps you moving.”

The booth aesthetic took inspiration from Italian racing culture – not flashy but clear, focused, and energetic, reflecting the push toward the finish line of the campaign.




Spotlight and Media Presence

Throughout SiGMA Central Europe, N1 Partners engaged in multiple media interviews and appearances across leading affiliate-industry platforms and podcasts. Discussions focused on the evolution of affiliate marketing, the mechanics behind N1 Puzzle Promo, and how tailored offers and transparency continue to reshape the multi-brand affiliate model.

Next Stop: Barcelona 2026 — The Grand Finale

The journey continues to Barcelona, where during iGB/ICE Europe 2026 N1 Partners will host the grand finale celebration of the N1 Puzzle Promo.

  • Grand prize for winners – a Robinson R22 Beta II helicopter.
  • Premium gifts for the top 10 winners: Porsche eBike Sport, Cartier Santos Medium watch, MacBook Pro, Leica Q2, Apple Vision Pro, and more.
  • Exclusive prize draw for ceremony guests.
  • Full entertainment show with top artists and a headliner.

“We look forward to celebrating with our partners who’ve been part of this journey. It’s our shared moment to enjoy,” said the N1 Partners team.

Join the Race

Want to accelerate your affiliate performance? Join N1 Partners and become a driver in the race to win. 

Visit n1.partners for details.

About N1 Partners

N1 Partners is a multi-brand affiliate program and direct advertiser, uniting 14+ casino and betting brands. 

Operating across 10+ Tier-1 GEOs, the company delivers high-conversion traffic and flexible terms for partners worldwide. With Reg2Dep rates of up to 70% and a trusted network of 10,000+ affiliates, N1 Partners offers competitive deals for top partners — CPA up to €700 and RevShare up to 45% — ensuring that partners always stay ahead in the game.

Be number one with N1!

The post N1 Partners at SiGMA Central Europe 2025 Results: A Key Pit Stop on the Road to the Helicopter appeared first on Americas iGaming & Sports Betting News.

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Fast Track Announces partnership with Atomo Gaming to expand Latin American iGaming presence

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Fast Track leading CRM platform for the iGaming industry, has announced a strategic partnership with Atomo Gaming, a leading iGaming platform provider with a strong foothold across Latin America. The collaboration will be officially unveiled at the XIX CIBELAE Congress in Asunción, Paraguay, on November 10-14, 2025.

The partnership will combine Fast Track’s AI-native CRM with Atomo Gaming’s platform infrastructure. The collaboration marks Fast Track’s expansion into the Latin American market and establishes a working relationship with Atomo Gaming’s network of operators in the region.

Fast Track is the industry leader in providing modern state-of-the-art tech stacks to work with real-time data and AI, including proprietary self-learning technologies to maximise relevance for its customers. Fast Track CRM integrates seamlessly with gaming platforms, distribution channels, and bonus engines, utilising real-time data to enable targeted campaigns and dynamic, personalised player journeys. The company recently launched Fast Track AI, a natural language platform that enables users to execute campaign creation, automation, and deep data analysis through conversational inputs.

Atomo Gaming is a Spain-based technology company that develops gaming platforms for online and land-based operations. The company’s “Alborán” platform provides multi-balance wallets, online casino and sportsbook functionality, retail integration, risk management, business intelligence, and game aggregation capabilities.

Through this partnership, operators using the Atomo Gaming platform could gain access to Fast Track’s advanced CRM capabilities, including automation, analytics, and AI-driven player engagement tools. The integration will enable Atomo Gaming’s operator network to implement sophisticated CRM strategies through Fast Track’s natural language interface.

Ramón Monrós, CEO and Co-founder of Atomo Gaming, said: “This partnership enables operators on the Atomo Gaming platform to access advanced CRM technology that addresses the specific needs of Latin American markets. Fast Track’s natural language capabilities allows our operators to implement player engagement strategies efficiently, supporting their growth in the region.”

Simon Lidzén, CEO and Co-Founder of Fast Track, said: “Latin America represents one of the most dynamic and exciting iGaming markets globally, and partnering with Atomo Gaming allows us to be part of that growth story. Together, we’re bringing technology that will fundamentally change how operators engage with their players. This collaboration represents our commitment to making advanced CRM accessible to operators everywhere, empowering them to compete and succeed in their markets.”

The post Fast Track Announces partnership with Atomo Gaming to expand Latin American iGaming presence appeared first on Americas iGaming & Sports Betting News.

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OKTO Expands Payment Capabilities in Mexico with Direct Card Deposits

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OKTO, the next-gen Payment Service Provider, has officially launched its direct card in solution in Mexico, marking another milestone in its mission to deliver orchestrated payment experiences across Latin America. The new service is seamlessly connected to Mexico’s local payment rails, enabling real-time card deposits that are fully aligned with the country’s financial infrastructure.

This launch forms part of OKTO’s Orchestrated Pay-ins and Payouts strategy, designed to simplify and optimize every stage of the payment journey for merchants and users. With card payments representing more than 25% of Mexico’s iGaming audience, the solution provides operators with direct access to a major segment of players who rely on the convenience, familiarity, and trust of card-based deposits.

By integrating directly with licensed local acquirers, OKTO removes unnecessary intermediaries, giving merchants greater control over their payment flows, more competitive pricing structures, and strengthened fraud management. This direct connection results in faster processing times, higher approval rates, and a smoother experience that meets the expectations of both operators and players in a rapidly expanding market.

Momentum is already building, with five merchants preparing to go live on the platform. This early adoption highlights the strong demand for localized, compliant, and frictionless payment solutions within Mexico’s iGaming ecosystem. The card in service complements the existing SPEI in and out local payment options available through the OKTO platform, further enhancing the breadth of payment capabilities for merchants in the region.

Following the successful rollout of real-time account-to-account payments in Peru last month, OKTO continues to expand its footprint across Latin America with solutions tailored to each market’s regulatory and consumer landscape. The launch in Mexico reinforces OKTO’s commitment to empowering merchants with payment services that drive conversion, efficiency, and sustainable growth.

“Mexico represents a key market in OKTO’s Latin American expansion strategy. Our direct card-in solution directly addresses the needs of a significant portion of iGaming users who continue to prefer card payments, combining this familiarity with the speed, reliability, and control of OKTO’s payment gateway. By integrating with Mexico’s local acquiring network, we help merchants reduce costs, increase approval rates, and deliver the fast, seamless deposit experience that players expect from trusted, high-performing brands,” said Thomas Georgopoulos, COO at OKTO.

The post OKTO Expands Payment Capabilities in Mexico with Direct Card Deposits appeared first on Americas iGaming & Sports Betting News.

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