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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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NetBet, a leading online gaming platform, has announced an exciting new partnership with world-renowned boxing & MMA podcast the Fight Disciples, co-hosted by award-winning broadcasters Adam Catterall and Nick Peet.
The partnership will span some of the UFC’s biggest events, including Max Holloway vs. Dustin Poirier at UFC 318, as well as major upcoming boxing bouts.
This partnership builds on NetBet’s recent announcement as the official betting partner of the UFC in the UK and other parts of Europe. It will play a key role in boosting visibility for NetBet’s popular UFC Predictor Game. As part of the collaboration, NetBet branding will feature across all Fight Disciples UFC content, including behind-the-scenes access and exclusive fighter interviews.
Part of this deal will also see the Fight Disciples and NetBet team up to provide all-encompassing coverage for three huge upcoming boxing fights; Oleksandr Usyk vs Daniel Dubois, Katie Taylor vs Amanda Serrano and Saul ‘Canelo’ Alvarez vs Terrance Crawford.
Adam Catterall, co-host of the Fight Disciples Podcast, said: “We’ve always prided ourselves on being the voice of the fight fan, so teaming up with NetBet – the official sportsbook and betting partner of the UFC – is a massive moment for us. This partnership gives us the opportunity to get even closer to the action and, more importantly, bring our audience along with us. Whether it’s behind-the-scenes insight, exclusive content, or on-the-ground access at the biggest events, it’s all about delivering that front-row feeling to our listeners.”
Tristan Wootton, Head of UK at NetBet added: “With NetBet making huge waves in the world of fight sports, this partnership with the Fight Disciples represents another exciting opportunity with regard to brand development. We feel confident that our players will enjoy the engaging content produced from this partnership, with so many brilliant UFC and boxing shows just on the horizon!”
The post NetBet Partners with Fight Disciples appeared first on European Gaming Industry News.
Soft2Bet continues its strategic expansion in Romania through its rapidly growing online entertainment brand, Don.ro, which has entered a multi-year agreement as the main sponsor of CFR 1907 Cluj, one of Romania’s leading football clubs.
Beginning with the 2025-26 Liga 1 season, leading Romanian brand Don.ro’s logo will feature prominently on CFR Cluj’s home and away kits, training gear, and throughout the “Dr. Constantin Rădulescu” stadium. The partnership with CFR Cluj also includes a slate of live and digital activations powered by Soft2Bet’s innovative platform, designed to deepen fan engagement.
“We are excited to announce our partnership with Don.ro, a Romanian brand that shares our values of performance, professionalism, and the desire to build something lasting. The fact that Don.ro is becoming the main partner of our club is both a validation of the work we do every day and an important step in strengthening CFR Cluj’s image both nationally and internationally.
We are pleased to have a dynamic partner by our side, one with a modern vision who believes in the power of sport to inspire and bring people together. Moreover, Don.ro has chosen to offer each season ticket holder this season an official jersey — a gesture of appreciation for the passion and loyalty with which they support us.” — Cristian Balaj, CFR Cluj President.
The partnership between Soft2Bet and CFR Cluj brings together Don.ro’s award-winning online gaming brand and a club with a rich history of success, including eight league titles, four Romanian Cups, and four Super Cups. Both sides are driven by a commitment to high performance, bold ambition, and fresh ideas, which makes this collaboration especially well-aligned.
“We are honored to join the CFR Cluj family, a symbol of excellence in Romanian football. This partnership reflects the shared values that bring us together — performance, responsibility, and respect for the community.
At Don.ro, we are committed to promoting a safe and balanced entertainment environment, and through our collaboration with CFR Cluj, we aim to deliver a strong message about the importance of responsible play, both on and off the field.” — Marius Mirasovici, Official representative of Don.ro brand
The partnership is designed to deliver real value to Don.ro’s players and the wider local community. With Soft2Bet’s backing, Don.ro will launch a range of activations tailored to Romanian audiences, such as exclusive match-day experiences, localised campaigns, community events, and responsible gaming initiatives, bringing fans closer to the action and rewarding their loyalty in meaningful ways.
Oksana Tsyhankova, Chief Marketing Officer at Soft2Bet, highlighted: “At Soft2Bet, we excel in building powerful and award-winning brands that forge deep connections with players through localised experiences. Don.ro’s partnership with CFR Cluj embodies this vision,combining a top-performing club with our drive for tailored gamified experiences, product excellence, and a passion for performance.”
Launched in 2024 and recognised as “Best Launch of the Year” at the 12th Meeting of Gambling Professionals, Don.ro delivers over 3,484 casino games, a full live-dealer lineup, and a complete sportsbook. The platform runs on Soft2Bet’s proprietary MEGA (Motivational Engineering Gaming Application) technology, which enhances player engagement through mission-based features and in-game challenges.
The post Soft2Bet’s brand Don.ro Becomes Main Sponsor of CFR Cluj in Multi-Year Agreement appeared first on European Gaming Industry News.
Here are this weeks latest slots releases compiled by European Gaming
PG Soft has served up a classic slot with its Diner Frenzy Spins. This is a 5-reel, 4-rows video slot featuring connecting ways and sticky symbol respins. Diner Frenzy Spins is set within a vibrant, retro-futuristic diner with a buzzy atmosphere thanks to a playful soundtrack. During any spin, the Mystery Respin may be randomly triggered while the reels are spinning.
ELA Games calls back to a classic yet luxurious gaming experience with its new title, Juicy Crystal. The game offers a unique and modern twist on the beloved and familiar fruit machine format, featuring timeless symbols and rich visuals. The studio’s trademark attention to detail and quality delivers a game that’s exciting, memorable and elegant.
Amusnet presents its newest Online Casino portfolio expansion – a royal-themed slot filled with exciting bonus features. The release adds to the fun of the player-favourite Extra Crown game series, this time with six reels and 100 paylines, top-notch graphics and a vibrant soundtrack. A total of 11 symbols are scattered across the now six reels and 40 fixed paylines, along with some special features that make the gameplay more engaging and fun.
Play’n GO illuminate their classic Moon Princess universe once more with Moon Princess Stargazing, a grid slot set among icy stars and rising multipliers. Set beyond Neptune in the icy reaches of the Kuiper Belt, Moon Princess Stargazing marks a radiant new chapter in one of Play’n GO’s most celebrated series. Players reunite with Star, Nova and Astra – the celestial trio whose powers help forge constellation connections and unlock sky-high wins.
Step into the golden sands of Ancient Egypt with Ra’s Relics Bonanza, a thrilling 6×5 cascading slot adventure from Booming Games! Land 8 or more matching symbols anywhere on the reels to secure a win, as winning symbols vanish and new ones tumble down, unlocking endless chances for treasure. Keep an eye on the Divine Scarab, collecting scatter symbols throughout the base game and triggering Free Spins at any moment.
The post Week 27/2025 slot games releases appeared first on European Gaming Industry News.
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