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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!

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Nolimit City boards a wild ride at 35,000 feet in Flight Mode

Published

2 hours ago

June 17, 2025

George Miller

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Reading Time: 2 minutes

Dear passengers, welcome aboard Flight NLC25! Flight Mode is cleared for takeoff and let’s just say, it’s not a typical family trip to Hawaii. After delivering signature slots like Tombstone Slaughter: El Gordo’s Revenge and Duck Hunters, Nolimit City is now taking it to the skies with Flight Mode and definitely not in a boring way.

Imagine having a crying baby as your only soundtrack, permanent turbulence and a seatmate who thinks deodorant is optional. The Bud Jet airline might not get you from A to B but it’ll drop you into a feature-packed slot and the kind of excitement you can always expect when playing a Nolimit City slot.

In Flight Mode, winning combinations will explode, making room for new symbols to drop in. With every win, the next multiplier value climbs by +1 and applies to new symbols that fall in.

Wild Symbol: The regular Wild symbol that can land on any reel and substitute for any regular symbol.

Multiplier Increaser: Triggered when they land and add its value to the next multiplier value. Multiplier values of symbols are 2x, 3x, 4x, 5x and 10x.

Golden Multiplier Increaser: Triggered when it lands and doubles the value of the next multiplier.

Explosive items are strictly prohib… well, not on this aircraft. The Bomb symbol clears all regular paying symbols on its reel and row when there are no winning combinations. Only Scatter and Wild symbols are saved from the explosions.

Apologies dear passengers, the lavatory is currently occupied! The signature xHole™ is back in Flight Mode, this time disguised as a toilet. All symbols from the main reels are flushed down and then spat out to random positions with the next multiplier value. Just to add an extra twist to it, xHole™ then transforms itself into a Wild symbol that also gets the next multiplier value. Not so hygienic…

Flee Spins

This is the captain speaking – we’re going down! Prepare your life jacket and be ready for a spontaneous meet-up with the sharks during Flee Spins! Land 3, 4, or 5 Scatter Symbols to trigger 6, 9, or 12 Flee Spins, respectively.

Upgrade your seat to Bud Jet’s nice price class when purchasing one of these Nolimit Boosters:

-Print Spins: guarantees a spin that starts off with a 30x multiplier on each paying symbol.

-Printier Spins: guarantees a spin that starts off with a 268x multiplier on each paying symbol.
-Printiest Spins: guarantees a spin that starts off with a 911x multiplier on each paying symbol.

No legroom, no peanuts – but you do get Extra Spins. After a round ends, players may get the option to purchase an additional spin, maintaining the current multiplier state of all previously landed symbols.

The special xGod™ mechanic is locked away disguised as passports on the bottom row, secured behind bulletproof glass and a seatbelt that actually works. Each Bomb explosion breaks the panel of its respective reel, bringing you one step closer to landing a Max Win.

The maximum payout of Flight Mode is 5,051x the base bet. Flight Mode is rated as “Extremely Volatile” delivering the thrilling high-stakes gameplay that Nolimit City fans know and love.

Per Lindheimer, Head of Product at Nolimit City, said: “This isn’t your standard trip from A to B. Flight Mode is what happens when you let a slot company rewrite the in-flight safety manual, handing out dynamite instead of peanuts.”

‘Flight Mode’ will be available to all Nolimit City partners on June 17th, 2025.

The post Nolimit City boards a wild ride at 35,000 feet in Flight Mode appeared first on European Gaming Industry News.

Conferences in Europe

PIN-UP Global to Participate in IGB L!VE London

Published

2 hours ago

June 17, 2025

George Miller

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Reading Time: 2 minutes

International iGaming holding PIN-UP Global will participate in IGB L!VE, one of the industry’s premier events taking place July 2-3 in London. Booth K40, spanning 168 square meters, will feature two distinct zones – PIN-UP Global and PIN-UP Partners. The holding will create valuable networking opportunities for industry professionals.

Visitors to the PIN-UP Global booth will have the opportunity to meet with the holding’s teams to explore the B2B portfolio designed to boost operational performance and drive business growth in the iGaming sector. The holding’s team will focus on growing its partner network and demonstrating the company’s latest technological developments.

PIN-UP Global team will be on hand throughout the event to explore potential investment opportunities and discuss partnerships with promising startups. The holding continues to identify and support promising teams developing innovative solutions in MarTech, iGaming, FinTech, AI/ML, and analytics.

PIN-UP Partners is joining iGB Affiliate London with top-performing offers, exclusive merch, and proven partnership models. Recognized as the Best iGaming Affiliate Program by AW’2024, MAC’2024, and SiGMA’22, PIN-UP Partners team is ready to build strong, long-term partnerships.

For industry professionals seeking new career opportunities, HR representatives from PIN-UP Global will be present at the event. Interested candidates can book meetings to discuss current openings within the international holding.

With the holding growing rapidly — a remarkable 58% just over the past year — new opportunities and prospects are opening up every day, both for existing team members and for those looking to join. As a result, the holding is actively seeking strong specialists for managerial positions, as well as professionals in tech, marketing, media buying, and more. Visit our booth to become part of the PIN-UP Global team.

For convenient meeting scheduling with holding representatives, exhibition delegates can use the touchscreen booking system and conduct meetings in specially equipped meeting rooms.

PIN-UP Global welcomes all IGB L!VE London attendees – industry experts, potential partners, and talented professionals – to connect with their team during the event to discuss tech solutions, collaboration opportunities, and career prospects.

PIN-UP Global is an international iGaming holding company specialising in developing and implementing advanced technologies, B2B solutions, and innovative products for the iGaming industry.

The post PIN-UP Global to Participate in IGB L!VE London appeared first on European Gaming Industry News.

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GR8 Tech and Ready to Fight Launch Cinematic Tribute to Boxing Legacy Starring Oleksandr Usyk

Published

2 hours ago

June 17, 2025

George Miller

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Reading Time: 2 minutes

What does it take to become truly great? GR8 Tech and Ready to Fight find an answer in the roots of their partnership and share it in the story of “Inspired by Greatness”—an epic cinematic tribute to boxing legacy starring Oleksandr Usyk himself.

Watch Inspired by Greatness on YouTube

The video takes viewers on a journey through eras that honors the discipline passed down through generations. From shadow-filled gyms of the past to a high-tech arena of the present, it reflects how the spirit of champions endures and shapes history through an unyielding resolve to fight for greatness and perform beyond limits.

From Screen to Reality: The Heavyweight Club Experience

“Inspired by Greatness” message doesn’t end with the video. It comes to life through GR8 Tech’sHeavyweight Club—an exclusive community for bold thinkers, fast movers, and top performers in iGaming. Built on shared values of excellence and execution, the Club transforms inspiration into tangible opportunity.

This journey continues at iGB L!VE London, where GR8 Tech will immerse attendees in the full Heavyweight Club experience:

Augmented Reality Activation, inviting everyone to step into the champion’s mindset with an exclusive AR experience featuring Oleksandr Usyk, crafted to ignite ambition of the inner fighter.

GR8 Tech Demo Zone, offering to explore the Platform for Champions—from the ULTIM8 Sportsbook iFrame and Hyper Turnkey solution to the Infinite Casino Aggregation and Platform Acceler8 suite, built to help operators fight and perform at the top of their game.

The B2B Bar, Powered by GR8 Tech, a perfect spot for networking with fellow heavyweights, exchanging insights, and recharging in a space where the future of iGaming is being written.

Raffle of Usyk vs. Dubois Tickets, an opportunity to win big and get exclusive tickets to the upcoming rematch between Oleksandr Usyk and Daniel Dubois.

Are You Ready to FIGHT & PERFORM at a Champion Level?

If your brand is ready to stand among the industry’s elite, join GR8 Tech at booth U34 at iGB L!VE. If you’re ready to lead like a champion, this is where your fight begins.

The post GR8 Tech and Ready to Fight Launch Cinematic Tribute to Boxing Legacy Starring Oleksandr Usyk appeared first on European Gaming Industry News.