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

Published

4 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.

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!

ELA Games

ELA Games Casts Its Latest Spell with Witches’ Book

Published

8 hours ago

October 16, 2025

George Miller

ela-games-casts-its-latest-spell-with-witches’-book

Reading Time: 2 minutes

ELA Games beckons players to step into a shadowy realm of sorcery and mystery with its newest release: Witches’ Book

Bathe in the magic as a powerful coven of three witches conjures their spells across the reels, revealing mysterious rewards and surprises. Each spin is a step toward ultimate strength, where massive riches and bubbling magic await.

The Power of the Book

In the Witches’ Book, magic shimmers in every spin. Players aim to collect enchanted pages and experience the power of each witch’s most mythical spells.

Once players gather enough enchanted pages, they complete the spellbook and choose their witch and symbol to unlock the magical Free Spins. As the witches’ power grows, every symbol has the chance to transform into a Jackpot, turning ordinary spins into powerful, enriching moments.

A medium volatility level and 94.9% RTP ensure that wins are frequent even on the base game. Additionally, multiple surprise features can arise and spread across the 5×3 reel format, making each spin a potion of excitement.

ELA Games’ Magical Touch

Witches’ Book is an enchanting embodiment of ELA Games’ philosophy regarding creative innovation and a focus on engaging gaming experiences. The games’ animations, sound design, and dynamic mechanics blend to create an atmospheric game that will have players a part of the incantation.

Marharyta Yerina, ELA Games’ Managing Director, commented on the release, “With Witches’ Book, our goal was to create a title that emphasises the visually-rich aesthetics that embody the atmosphere of the brooding festive season. Every feature and design element was meticulously crafted to keep players engaged and deliver value for our partners. Witches’ Book is an example of our development approach: leverage creativity to entertain players while driving meaningful performance results for operators.”

Discover Enchanting Riches Now

Players can dive into the mysterious world of magic and spells today, with powerful gameplay and immersive experiences.

Finish your incantation and cast a powerful, lucrative spell today.

The post ELA Games Casts Its Latest Spell with Witches’ Book appeared first on European Gaming Industry News.

Bet It Drives

GR8 Tech’s Bet It Drives Hits the Portuguese Fast Lane with Tiago Pereira of LeBull.pt

Published

8 hours ago

October 16, 2025

George Miller

gr8-tech’s-bet-it-drives-hits-the-portuguese-fast-lane-with-tiago-pereira-of-lebull.pt

Reading Time: 2 minutes

Lisbon’s streets set the pace for Season 2 of GR8 Tech’s Bet It Drives — the drive-time podcast where iGaming’s most interesting voices speak freely, in motion. Hosted by Yevhen Krazhan, Chief Sales Officer at GR8 Tech, each episode captures raw insight, candid stories, and the kind of energy you can only find on the road.

Episode 2 puts the spotlight on Tiago Pereira, Head of Portugal at LeBull.pt, the executive who helped turn a logo and a bull into one of the fastest-growing brands in Portugal’s regulated iGaming market. With more than 20 years in sports betting, affiliates, and casino operations at Placard.pt, Betano.pt, bet.pt, and Sportingbet, Tiago has led market entries, compliance frameworks, sponsorships, and full-funnel digital growth.

During the ride, Tiago opens up about:

How he found his path and his journey from architecture and computer science to marketing.
The history of LeBull.
Portugal vs. Brazil: same language, different mindset: why copy-paste doesn’t work and true localization is key.
The idea behind the LeBull Night Show, a weekly late-night comedy event.
His failed marketing project.
Trusting younger generations.
His previous approach to marketing when he joined Betano in 2017.
Why the Portuguese sports betting market relies on the casino vertical.
The next chapter for affiliation.
Network or Not Work: mascots, localization, and keeping support teams local.
A small personal detail that’s still quietly visible online for those who know where to look.
His Champion Rule: move forward with an “I need to get this done” mindset. Whatever happens, don’t stop. Stay consistent, keep moving forward, and the results will follow.

“Tiago showed us how to win a new market with discipline, curiosity, and the courage to keep moving forward,” said Krazhan.

Watch or listen to Season 2, Episode 2 with Tiago Pereira on:

Bet It Drives Season 2 kicked off with Rasmus Sojmark and keeps the pace with upcoming episodes featuring Kyrylo Korobka and Kelly Kehn. Buckle up. Lisbon’s just getting started.

The next chapter of iGaming belongs to those who play smart and play bold. Meet GR8 Tech at booth 5028-2 during SiGMA Central Europe 2025 in Rome, November 3–6, and discover the Heavyweight Rulebook built for operators ready to scale, localize, and win.

The post GR8 Tech’s Bet It Drives Hits the Portuguese Fast Lane with Tiago Pereira of LeBull.pt appeared first on European Gaming Industry News.

FashionTV Casino

FashionTV Gaming Group Rolls Out the Red Carpet for a Royal Night in Rome

Published

9 hours ago

October 16, 2025

George Miller

fashiontv-gaming-group-rolls-out-the-red-carpet-for-a-royal-night-in-rome

Reading Time: 2 minutes

The “Royal Night in a Roman Palace” at Palazzo Brancaccio will mark a decade of success for the megabrand and honour its licensees and partners that together have revolutionised the online gaming industry by setting a new standard for branded luxury in iGaming.

FashionTV Gaming Group, the exclusive licensor of the FashionTV megabrand for the online gaming industry, will celebrate a defining moment in iGaming history with an unforgettable Royal Gala and the prestigious Royal Salute Ceremony at the historic Palazzo Brancaccio in Rome.

This exclusive, invitation-only extravaganza will welcome the global iGaming elite, from CEOs and founders of the world’s leading gaming companies to innovators, celebrities, and visionaries, uniting to celebrate ten years of success in bringing fashion, glamour, and luxury style to the online gaming world.

The event will honour Fashion TV Gaming Group’s global network of licensees, the industry titans and future pillars who have reshaped and infused branded gaming with luxury through the creation of FashionTV branded games across all iGaming verticals, as well as standalone FashionTV Casino and Sports Brands.

The evening will begin with a royal reception in the palace’s grand entrance hall, where guests will be filmed by the FashionTV crew and photographed alongside the iconic FashionTV Wall of Fame, joined by top FashionTV models and international celebrities.

The programme will continue with the Royal Salute Ceremony, followed by an exquisite gala dinner prepared by Palazzo Brancaccio’s Executive Chef, Francesco Paolo Baretta. The celebration will reach its peak with a spectacular FashionTV Party, featuring world-class DJs, live performances, and the unmistakable glamour of the FashionTV experience.

This milestone year of remarkable achievements crowns a decade of success for FashionTV Gaming Group and its partners, including a new strategic business roadmap, landmark collaborations with global gaming powerhouses, and the launch of standalone FashionTV Casino and Sports Brands across Asia and the GCC, with more industry giants soon to be announced.

Moshe Cohen, Founder & President of FashionTV Gaming Group, said: “The Royal Salute Ceremony is more than a celebration; it’s a statement. In Rome, we honour our licensees, the pioneers who believed in our vision, joined our journey, and turned a dream into reality, alongside the current industry titans and the future pillars of our world.”

The post FashionTV Gaming Group Rolls Out the Red Carpet for a Royal Night in Rome appeared first on European Gaming Industry News.