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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!

Latest News

How RocketPlay’s new VIP Club boosts retention and engagement

Published

31 minutes ago

October 17, 2025

Master Editor

The gaming world is shifting. Today’s players don’t just chase bonuses — they expect loyalty programs that feel fair, transparent, and worth committing to. And for operators, that means finding smarter ways to keep players engaged for the long run. To meet these needs, RocketPlay has redesigned its VIP Club with a focus on transparency, simplicity, and rewarding ongoing engagement.

Why changing?

Players now expect more than short-term bonuses — they seek a loyalty experience that rewards long-term commitment, feels genuinely fair, and puts the player at the center. At the same time, operators need tools that sustain engagement and build enduring player relationships. This customer-centric vision inspired the redesign of RocketPlay’s VIP Club.

What’s different?

We combined two separate systems — Lifetime Loyalty (XP) and Seasonal VIP Progress (SP) — into one unified program. Progress is now tracked along a single, straightforward path with clear rules for leveling up and confirming VIP status each season. Players can easily see how their deposits, bets, and other actions move them closer to better rewards. Now each new VIP level unlocks a new surprise — up to 10% weekly cashback, 5% Live cashback, up to 25% daily deposit insurance, bonuses for level-ups, and much more! Plus, the base VIP level is now permanent, recognizing players’ ongoing commitment.

How does this help business?

The new VIP Club is designed to keep players engaged longer and more often. Its simple, gamified approach motivates players to stay active, which helps improve retention and overall player activity across all games — slots, live casino, and sports betting alike.

Listening to our players

At RocketPlay, we don’t just listen to our players — we act on what we learn. The VIP Club continuously evolves through player insights, behavioral data, and performance analysis to stay aligned with modern gaming habits. This iterative, customer-centric approach strengthens long-term loyalty while driving measurable retention and LTV growth. The new VIP Club reflects RocketPlay’s strategy of combining innovation with sustainable business impact — creating value for both players and the brand.

Blueprint Gaming

Blueprint Gaming strengthens European foothold with Finnish state lottery Veikkaus partnership

Published

58 minutes ago

October 17, 2025

George Miller

blueprint-gaming-strengthens-european-foothold-with-finnish-state-lottery-veikkaus-partnership

Reading Time: < 1 minute

Blueprint Gaming has bolstered its presence across Europe after securing a new partnership with Veikkaus, the Finnish state lottery.

Veikkaus’ player base across Finland now benefits from Blueprint’s entire portfolio, featuring branded titles Rick and Morty: Strike Back, The Flintstones and ted Afterparty, as well as its iconic King Kong and Fishin’ Frenzy franchises.

Comprising over 1,200 top iGaming professionals, with responsible gaming firmly at its core, Veikkaus operates all gambling content offered throughout Finland, covering lottery, casino and sports betting.

The state-owned organisation has now elevated its diverse gambling portfolio through a library of feature-rich games known for their vibrant visuals, proven retention-focused mechanics and immersive gameplay.

Blueprint Gaming’s latest agreement underlines its ambitions of continuing to expand its global footprint across the industry’s most progressive markets, bringing its ever-expanding content to a new wave of players.

Samuel Haggblom, Director of Key Accounts at Blueprint Gaming, said: “We are thrilled to join forces with Veikkaus, one of Europe’s most respected and responsible state-owned operators, in a move that significantly strengthens our presence across the continent.

“Finland continues to stand as an exciting opportunity for Blueprint, and through this collaboration, we are bringing our market-leading portfolio, from much-loved franchises to our latest innovations, to a whole new audience of players.”

The post Blueprint Gaming strengthens European foothold with Finnish state lottery Veikkaus partnership appeared first on European Gaming Industry News.

Anne Marie Caulfield

GRAI Publishes 2025-2027 Strategy Statement

Published

2 hours ago

October 17, 2025

Niji Narayan

grai-publishes-2025-2027-strategy-statement

Reading Time: 2 minutes

The Gambling Regulatory Authority of Ireland (GRAI) has published its Statement of Strategy for 2025 to 2027, setting out its strategic priorities over the next three years as it establishes a robust regulatory and licensing regime for the gambling sector and delivers on its public protection mandate.

Established on a statutory basis in March 2025, the Gambling Regulation Act 2024 sets out the framework and legislative basis for the GRAI which will operate as an independent, self-financing regulator under the remit of the Department of Justice, Home Affairs and Migration.

Minister Jim O’Callaghan TD, Minister for Justice, Home Affairs and Migration launched the new Strategy alongside Mr Paul Quinn, Chair of the Authority, and Anne Marie Caulfield, CEO of the GRAI.

The Statement of Strategy sets out the GRAI’s priorities over the next three years with particular focus on six functional areas with related strategic goals reflecting the GRAI’s legislative mandate:

• Licensing

• Monitoring and Compliance

• Enforcement

• Consumer Protection and Awareness

• People, Organisation, and Governance

• Digital First

Each goal is supported by objectives and deliverables which will guide the GRAI’s progress through to 2027.

Jim O’Callaghan TD, Minister for Justice, Home Affairs Migration, said: “I commend the Gambling Regulatory Authority of Ireland on the publication of its first Statement of Strategy, which is an important milestone for the Authority, the gambling sector in Ireland and for the wider public.

“This strategy is not just about regulation; it is about educating the public, protecting those vulnerable to gambling harm, and ensuring that the industry operates to the highest standards of integrity and social responsibility. As Minister for Justice, Home Affairs and Migration I am committed to supporting the Authority in delivering on its mandate.”

Paul Quinn, Chairperson of the GRAI, said: “As a newly established independent regulator, we have been entrusted with a vital public mandate: to ensure that gambling in Ireland is conducted in a safe, fair, and transparent manner, with the interests of individuals, families, and the wider community at its heart.

“Our work is grounded in the principles of prevention, protection, and evidence-based regulation. This Statement of Strategy sets out the roadmap to delivering a modern, fair, and trusted regulatory regime that reflects the constantly evolving nature of gambling and the expectations of the Irish public.

“Establishing the new licensing arrangements, compliance management, and enforcement functions during the term of this Strategy is central to reducing the likelihood of gambling harms and will underpin a well-regulated gambling market in Ireland.”

Anne Marie Caulfield, CEO of the GRAI, said: “The Statement of Strategy outlines the vision, mission, and values of the Regulator through to 2027. Each goal within the Strategy outlines a thorough approach to our main functions, from building a robust licensing regime that will ensure operators are consistently adhering to standards to supporting research and educational initiatives that enhance our capabilities as a Regulator.

“The GRAI’s Statement of Strategy 2025 – 2027 has been approved by the Minister for Justice, Home Affairs and Migration and we look forward to achieving our strategic goals together.”

The post GRAI Publishes 2025-2027 Strategy Statement appeared first on European Gaming Industry News.