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

Published

3 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.

European Gaming Congress 2024 (Warsaw, Poland)

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!

Digital Footprints

Digital Footprints Shortlisted for Three Prestigious EGR B2B Awards

Published

5 minutes ago

May 5, 2025

GamingAmericas.com

digital-footprints-shortlisted-for-three-prestigious-egr-b2b-awards

Digital Footprints, a leading full-service iGaming marketing agency, is proud to announce its shortlisting in three major categories at the upcoming EGR B2B Awards 2025. The agency has been recognised for excellence in the following categories:

Marketing Services Supplier
Corporate Services Supplier
Best Customer Service

The EGR B2B Awards are widely regarded as the benchmark for performance and innovation within the online gaming industry, celebrating the very best service providers across all verticals.

“This recognition from EGR reflects the dedication, creativity, and expertise of our team,” said Sharon McFarlane, Managing Director at Digital Footprints. “Being shortlisted across three highly competitive categories not only validates the results we’ve achieved for our clients, but also showcases our commitment to exceptional service and forward-thinking strategy in the iGaming space.”

A Testament to Innovation and Service Excellence

Digital Footprints has consistently delivered high-impact marketing solutions to some of the industry’s most recognisable brands, combining data-driven strategies with creative execution to drive measurable results. The agency’s inclusion in the Marketing Services Supplier category underlines its reputation for cutting-edge campaign management, performance marketing, and brand development tailored specifically to iGaming audiences.

The Corporate Services Supplier nomination recognises Digital Footprints’ ability to deliver robust support solutions that help clients scale sustainably and compliantly in an increasingly regulated environment.

Meanwhile, the Best Customer Service shortlist position reflects the agency’s people-first approach and relentless focus on providing transparent, responsive, and personalised support to every partner.

Looking Ahead

Winners of the EGR B2B Awards 2025 will be announced at the official awards ceremony on 2nd July, where industry leaders will gather to celebrate innovation and service excellence across the iGaming ecosystem.

Digital Footprints is honoured to stand alongside the industry’s top performers and remains committed to pushing the boundaries of what’s possible in iGaming marketing.

Media Contact:
Sharon McFarlane
Managing Director
Digital Footprints
sharon@digital-footprints.co.uk
+44 7885 910 472
www.digital-footprints.co.uk

The post Digital Footprints Shortlisted for Three Prestigious EGR B2B Awards appeared first on Gaming and Gambling Industry in the Americas.

Compliance Updates

EGBA boosts regulatory monitoring with compliance workspace Letzz

Published

1 hour ago

May 5, 2025

George Miller

egba-boosts-regulatory-monitoring-with-compliance-workspace-letzz

Reading Time: < 1 minute

The European Gaming and Betting Association (EGBA) is pleased to announce a partnership with Letzz, an AI-powered compliance workspace designed for online gambling, to modernise regulatory monitoring and enhance strategic compliance across Europe’s fragmented online gambling landscape.

Through this partnership, EGBA will implement Letzz‘s AI-powered tool to enhance its own regulatory monitoring capabilities. Launching this week, the Letzz platform offers operators real-time, expert-validated insights and automated regulatory news scanning, creating a single, reliable source of information for compliance management.

“We are committed to promoting the highest standards of compliance across Europe’s online gambling sector,” said Maarten Haijer, Secretary General at EGBA. “With 27 countries in the EU, each with their own gambling laws and a myriad of requirements, accessible tools like Letzz can help both associations like EGBA and operators better understand the complex landscape of regulatory obligations.”

“We founded Letzz with the belief that compliance should be a competitive advantage, not just a necessity,” said Daniel Gambin, Co-Founder and CEO at Letzz. “Our partnership with EGBA allows us to bring this vision to a wider audience of operators who share our commitment to excellence in regulatory compliance. By transforming compliance from a challenge into a strategic business asset, we’re helping operators stay abreast of the latest regulatory changes.”

The collaboration reflects EGBA’s commitment to promoting a well-regulated online gambling market with the highest compliance standards.

Source: egba.eu

The post EGBA boosts regulatory monitoring with compliance workspace Letzz appeared first on European Gaming Industry News.

Conferences in Europe

Portside Game Assembly announces talks and roundtables for June 27th’s premiere of the conference for indie game leaders

Published

2 hours ago

May 5, 2025

George Miller

portside-game-assembly-announces-talks-and-roundtables-for-june-27th’s-premiere-of-the-conference-for-indie-game-leaders

Reading Time: 3 minutes

Gamecity Hamburg is setting sail with the premiere edition of Portside Game Assembly – a dedicated B2B conference for international indie game leaders – taking place aboard a ship cruising Hamburg’s famous harbour on June 27. With a carefully curated program of keynotes, impulse talks, and roundtables, the conference offers a rare opportunity for studio directors and decision makers to connect in a focused and collaborative setting. Designed to spark fresh perspectives and actionable insights, the event brings together voices from acclaimed indie studios worldwide like Benjamin Laulan (COO & Co-Founder Evil Empire), Philomena Schwab (Founder Stray Fawn Studio), Søren Lundgaard (CEO Ghost Ship Games), Mauricio García (Studio Director The Game Kitchen), Kevin Zuhn (Creative Director & Co-Founder Young Horses Inc.), and more speakers. Tickets for the full conference experience, including a Networking Brunch and the Games Industry Party, are available at portsideassembly.com.

As the premiere of the Portside Game Assembly on June 27 is approaching, the laser-focused program for indie game leaders takes shape.

Keynotes, impulse talks and roundtables: This is the program

By offering a confidential setting for studio directors, the Portside provides value through relevant conversations and strategic networking, which is also reflected in the diverse yet focused conference program. These are some of the program highlights:

Keynote: Benjamin Laulan (COO & Co-Founder Evil Empire): The “Triple-i Initiative Deep Dive” keynote on how to create your own announcement space and talk directly to your audience when you can’t really relate to other existing showcases.

Impulse Blocks:Impulse Blocks consist of two to three impulse talks, all of which relate to an overarching topic, followed by an open discussion about the perspectives shown and an opportunity for participants to share their own experiences. The discussions will be moderated by Mariève Beauchemin (Programs Director & Co-Founder Indie Asylum) and Andreas Suika (Creative Director & Game Designer).

Mining for Your Next Gem – How to Decide which Games to Develop

A defining and crucial decision for every indie game studio is: what of the (probably many) game ideas should be pursued? Where should studios allocate their resources – and what game will help a studio prevail? Three speakers will share their approaches to these questions in 10-minute impulse talks:

- Philomena Schwab (Founder Stray Fawn Studio): Game Idea Validation
- Jonas Tyroller (Founder Grizzly Games): You Don’t Need a Hook
- René Habermann (Director bippinbits): Don’t Ship the Wrong Game

Games Are Made by People – How to Foster a Good Company Culture

Founding and maintaining an independent game studio and managing a small to mid-size team comes with a lot of responsibility: from growing or having to downsize a team to maintaining a company culture where talent is nurtured, developed, and kept long-term.

- Mauricio García (Studio Director The Game Kitchen): Keeping the Indie Mindset while Going Big
- Kevin Zuhn (Creative Director & Co-Founder Young Horses Inc.): Hold Your Horses: Why Slow is How We Grow

From Dev to Dev – Why to Invest in Other Studios

More and more indie studios take the leap to market not only their own games but also put their resources and experiences on games from other developers. Two speakers will share their motivations and learnings from investing in games and studios that are not their own:

- Søren Lundgaard (CEO Ghost Ship Publishing): Developer by Day, Publisher by Night
- Christian Nyhus Andreasen (COO Fair Games): How to Lose 50% and Still Prosper – Angel Investment Lifestyle

Roundtables:

Roundtables have a more interactive concept than impulse blocks and encourage participants to discuss all aspects of the overarching question from the very beginning

Roundtable 1: Mobile Ports – When, Why & How? Moderated by Ali Farha (Senior Producer Star Stable Entertainment)
Roundtable 2: Stronger Together – Business Cooperations Between Indies. Moderated by Manny Hachey (Creative Director Positive Impact Games)
Roundtable 3: (Self-)Publishing – The Good, the Bad, the Ugly. Moderated by Sophie Atkin (Director & Founder Secret Sauce)
Roundtable 4: Longtail FTW – How to Make the Most out of Your Game. Moderated by Leonie Wolf (Associate Art Director Maschinen-Mensch)

The Portside Game Assembly website offers a detailed view on speakers, program topics and participating studios: https://portsideassembly.com/program/

The premiere of the Portside Game Assembly is supported by these great sponsors and partners: Photon and Twin Harbour Interactive!

Selection of already confirmed participants:

More than 60 studios from over 15 countries have already registered for the Portside Game Assembly conference on board the MS Princess. Besides already announced participants like Evil Empire, Stray Fawn Studio, The Game Kitchen, Toukana Interactive, Ghostship Publishing, and others, further acclaimed studios join the conference: