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LeoVegas AB Q1: Quarterly report 1 January – 31 March 2021

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“A good start to the year and increased focus on sports”
Gustaf Hagman, Group CEO
first quarter 2021: 1 january–31 march
- Revenue increased by 8% to EUR 96.7 m (89.4). Organic growth in local currencies was 8%.
- Organic growth when excluding Germany was 19%.
- Adjusted EBITDA was EUR 10.9 m (9.0), corresponding to an adjusted EBITDA margin of 11.3% (10.0%). Reported EBITDA was EUR 10.4 m (9.0).
- The number of depositing customers was 462,386 (413,269), an increase of 12%.
- Adjusted earnings per share were EUR 0.07 (0.06).
events during the quarter
- LeoVegas acquired Expekt from Betclic Group for a total purchase price of EUR 5 m. Expekt is one of the most well-known sports betting brands in Sweden and the Nordic markets, and strengthens LeoVegas’ brand portfolio ahead of the intensive sport event years in 2021 and 2022. The acquisition of Expekt is expected to be completed in May 2021.
- LeoVegas’ shares were taken up for trading in USD on OTCQX Markets in the USA. This is a way for the company to meet a steadily growing interest from US investors.
- Via LeoVentures, LeoVegas invested EUR 1.1 m for 25% of the shares in SharedPlay, a company that makes it possible for players to share their gaming experiences with others through the industry’s first multiplayer solution.
Events after the end of the quarter
- Preliminary revenue in April amounted to EUR 32.7 m (37.5), representing negative growth of 13%. Excluding Germany, revenue grew 4%.
- The Royal Panda brand has been migrated to the Group’s proprietary technical platform, Rhino. All of the Group’s wholly owned brands are now run on the Rhino platform.
- LeoVegas has started its own game studio, Blue Guru Games, to develop new and innovative games. The studio will develop exclusive games for LeoVegas as well as for other operators. The first games will be released in late 2021.
- LeoVegas was issued a sanction fee of SEK 2 m by the Swedish Gambling Authority. The company intends to appeal the decision.
COMMENT FROM GUSTAF HAGMAN – GROUP CEO
FIRST QUARTER
We are pleased with the start of the year and increased our revenue by 8% during the first quarter. Excluding Germany, which has been affected by new restrictions related to the upcoming regulation, revenue increased by 19%. Our growth has been driven mainly by our loyal customer base, which reached a new record level during the period. We have maintained a high pace of investment, and despite this we achieved adjusted EBITDA growth of 22%, driven by our scalability and good cost control.
ACQUISITION OF EXPEKT – increased FOCUS ON SPORTS BETTING
During the first quarter we acquired the well-known sports betting brand Expekt. The acquisition gives us one more leg to grow on and complements the Group’s brand portfolio and product offering in a strategically good way. We are looking forward to Expekt once again becoming a leading sports betting brand in Sweden and thereafter also in other markets. The acquisition is expected to be completed in May in connection with our migration of the brand to our own technical platform. The timing of the acquisition is perfect as we are now facing two years filled with major sports events, and we plan to launch Expekt well in advance of the UEFA European Football Championship, which starts in June.
MarKETS
During the first quarter we saw the full effect of the changes taking place in the German market. Operators in the market are acting differently with respect to implementing the new restrictions, which unfortunately has led to a skewed competitive situation. The assessment is that up to 70%-80% of the German market for casino has temporarily been shifted over to operators that have chosen to not adapt to the coming market regulation. Our hope is that this will soon be sorted out by the German authorities, which is a prerequisite for the licence system’s success, with a high level of channelisation and consumer protection. Germany generated approximately 6% of the Group’s total revenue during the first quarter, compared with 15% a quarter earlier. Despite this development in Germany we delivered good growth at the Group level, which reflects our strong performance in many other key markets, including Italy, Canada and Spain. Our business is more diversified than ever before, and growth at the Group level is proof that our data-driven way of working and allocating marketing investments is effective.
I also want to highlight Sweden, where the strength of the LeoVegas brand and our product breadth is appreciated by our customers. Our Swedish customer base set a new record during the quarter, and in March we grew on a yearly basis for the first time since the temporary Covid-19 restrictions were implemented in July 2020.
leoventures
The first quarter was an intensive period for our investment vehicle LeoVentures. Among other things we invested in SharedPlay, a company that makes it possible for players to share their gaming experiences with others through the industry’s first multiplayer solution. For a long time we have created successful, exclusive games with the help of external providers. We are now taking the next step by starting our own game studio – Blue Guru Games. This venture will give us full control and greater flexibility in developing new games, a unique offering to our players, and also a new revenue stream for the Group.
COMMENTS ON the SECOND QUARTER
Revenue for the month of April amounted to EUR 32.7 m (37.5), corresponding to negative growth of 13%. Excluding Germany, growth in April was positive at 4%.
Finally I want to urge you to be on the lookout for the new launch of Expekt in Sweden towards the end of May – you won’t be disappointed!
Presentation of the report – today at 09:00 CET
- To participate in the conference call, and thereby be able to ask questions, please call one of the following numbers: SE: +46 (0) 8 50 69 21 80, UK: +44 (0) 20 71 92 80 00, US: +1 63 15 10 74 95, Confirmation code: 6888544 or join at the web https://edge.media-server.com/mmc/p/x6q2utt4
This information is information that LeoVegas AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 6th of May 2021.
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Romania Proposes Raising Gambling Age to 21 and Restricting Online Advertising
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Romanian lawmakers have introduced new legislative proposals aimed at tightening gambling access and advertising rules, particularly to protect young people. The bills, submitted by MPs Raluca Turcan (PNL) and Diana Stoica (USR), would raise the minimum legal gambling age from 18 to 21 and restrict online gambling advertising between 06:00 and 24:00.
Under the proposals, individuals under the age of 21 would be prohibited from participating in gambling activities, while gambling ads would be banned across online platforms during daytime hours. The legislation also seeks to outlaw the use of influencers, athletes and public figures in gambling promotions.
Protecting young audiences
“We have an obligation to protect our children from the threat of gambling,” said USR deputy Diana Stoica, citing studies showing early exposure to slot machines and online betting among Romanian minors. According to Stoica, brain development, particularly in areas linked to impulse control and decision-making, continues until around the age of 21, making younger individuals more vulnerable to gambling addiction.
“One in four adolescents has played on these so-called ‘machines of death’ before turning 18,” she added, arguing that the legislation is a necessary step to reduce risks.
Aligning with European trends
PNL deputy Raluca Turcan called the proposed age increase a “simple change with deep effects,” noting that countries including Portugal, Greece and Moldova have adopted similar measures. She highlighted that individuals aged 18 to 21 often face increased financial pressure and impulsivity as they enter adulthood, making them a key target group for gambling marketing.
“By raising the age threshold, we protect young people during a vulnerable stage,” Turcan stated, referencing international examples where similar policies reportedly reduced early-age indebtedness and problem gambling cases.
Tighter ad rules and warning messages
The draft legislation further proposes:
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A complete ban on online gambling advertising between 06:00 and 24:00
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A ban on influencer and public-figure participation in gambling promotions
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Mandatory visible harm-prevention warnings across digital and physical gambling environments, modeled after tobacco and alcohol regulation
The measures would amend Romania’s existing legal framework under Emergency Ordinance 77/2009.
What comes next
The bills will now proceed through the legislative process, including debate and committee review. If adopted, the changes would introduce some of the most restrictive gambling-advertising and access rules in the region.
The initiatives reflect an ongoing trend across Europe, where regulators are increasing focus on consumer protection, youth safeguards, and advertising limitations in the gambling sector.
The post Romania Proposes Raising Gambling Age to 21 and Restricting Online Advertising appeared first on European Gaming Industry News.
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Digitain Group Founder Honored with Outstanding Contribution to Gaming Award at SiGMA Central Europe 2025
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Digitain Group is proud to announce that its Founder, Mr. Vardges Vardanyan, has been recognized with the Outstanding Contribution to Gaming Award at SiGMA Central Europe 2025.
For over 26 years, his vision and leadership have brought remarkable value to the iGaming industry — driving innovation, setting new standards in technology and compliance, and championing a culture of responsibility and integrity that continues to elevate the entire iGaming ecosystem.
Vardges Vardanyan, Founder of Digitain Group, commented: “I am deeply honored to receive this special award at the SiGMA Central Europe. This recognition is not only a personal milestone but a reflection of the dedication, innovation, and integrity that highlight Digitain Group’s vision. For over two decades, our mission has been to empower partners with technology that drives progress and responsibility across the industry. I am extremely proud of what we’ve built together — and even more inspired by what lies ahead as we continue to evolve.”
As a global B2B technology provider, Digitain Group remains dedicated to creating, delivering, and enhancing advanced software solutions that empower partners worldwide. Digitain’s platforms, products, and services are built to provide operators across diverse markets with reliable, flexible, and secure iGaming solutions.
With over 5,000 professionals and offices in Armenia, Romania, Malta, and Spain, and with an upcoming expansion into LatAm, Digitain continues to drive forward with the same passion and purpose inspired by Mr. Vardanyan’s legacy.
The post Digitain Group Founder Honored with Outstanding Contribution to Gaming Award at SiGMA Central Europe 2025 appeared first on European Gaming Industry News.
Latest News
Modern Pokie Machines and the Future of Online Gambling
Reading Time: 4 minutes
From mechanical levers to exciting digital reels, pokies have come a long way. What began as a simple one-armed bandit with spinning symbols is now a multi-billion-dollar entertainment industry powered by top technology and creative design.
Today’s online pokies are more than pressing the “spin” button – they are about storytelling, strategy, and sensory excitement. With themes inspired by pop culture, advanced graphics, and interactive features, modern pokie machines have transformed into one of the most exciting parts of the iGaming world.
In this post, we will explore how pokie machines have evolved, the innovative technologies shaping their future, and how players can find trusted online casinos offering the best pokie experiences. If you are a casual spinner or a serious player, the next era of online pokies is one you will want to be part of.
A Quick Look Back – How Pokie Machines Became a Global Phenomenon
Before today’s high-definition reels and complex bonus rounds, pokie machines started as simple mechanical devices with a lever, spinning reels, and a few lucky symbols. What began in the late 19th century as a novelty game quickly evolved into one of the most iconic forms of entertainment, both offline and online.
The first pokie machines relied on gears and springs, with players pulling a lever to spin three reels. But as technology advanced, so did the game. The move from mechanical to electronic slots in the 1960s and 70s introduced more paylines, exciting themes, and flashing lights that drew crowds.
The internet changed everything for pokies. Players could now explore thousands of games with unique designs, bonus rounds, and progressive jackpots from the comfort of their homes. This shift made pokies the most played category in online casinos worldwide. Every major gaming platform offers an extensive collection of titles from top software providers, turning pokies into the driving force in the iGaming world.
What Makes Modern Pokies So Engaging
Modern pokies go far beyond simple spinning reels. Today’s games combine cutting-edge technology, interactive features, and immersive storytelling to create an experience that keeps players coming back for more.
Next-Level Visuals and Sound Design
Pokies usually feature stunning 3D graphics, vibrant animations, and thematic soundtracks that bring each game to life. From cinematic visuals to dynamic audio cues, these sensory elements make players feel emotionally connected to the game. These graphics and sounds boost the enjoyment and make wins, bonuses, and big moments feel far more exciting.
Interactive Gameplay and Bonus Mechanics
Modern pokies include advanced mechanics like Megaways, cluster pays, expanding wilds, and cascading reels. Mystery symbols, free spins, and progressive jackpots keep players engaged while introducing a sense of unpredictability. These features are designed using behavioral psychology principles, frequent rewards, and interactive elements to maximize excitement and maintain attention throughout gameplay.
Mobile-First Gaming
With most players gaming on smartphones and tablets, modern pokies are optimized for mobile-first play. HTML5 technology ensures smooth performance without the need for apps, offering instant access to games with high-quality visuals, responsive controls, and fast load times. Mobile optimization makes it convenient to play anytime, anywhere, without compromising the experience.
How to Choose the Best Modern Pokie Casinos
Finding the right casino is crucial to enjoying modern pokies safely and maximizing your chances of winning. Players should focus on game fairness, security, and the overall gaming experience to ensure their time and money are well spent. The most popular pokies we recommend are:
- Book of Dead
- Gates of Olympus 1000
- Starburst
- Le Bandit
- Sugar Rush
- Big Bass Bonanza
- Sweet Bonanza
- Starlight Princess
- Divine Fortune
- Wanted Dead or a Wild
- The Dog House
- Etc.
Let’s see how to choose the best variations and which are the factors you should consider for it:
Check RTP Rates and Volatility
Return to Player (RTP) percentages indicate the expected payout over time. Higher RTP games generally offer better long-term returns, while volatility affects how often and how much you can win. Low-volatility pokies give frequent, smaller wins, ideal for longer sessions, whereas high-volatility games provide bigger but less frequent payouts. Understanding these metrics helps players choose games that fit their bankroll and style.
Trusted Licensing and Security
Always play at casinos licensed by recognized authorities such as Curacao, Malta, or the UKGC. Licensing ensures fair play, secure deposits, and responsible gambling practices. Look for SSL encryption and verified payment methods, which protect personal and financial information while maintaining a trustworthy gaming environment.
Explore Top Pokie Collections Online
A wide selection of games enhances enjoyment and strategy. For a curated list of casinos offering the best pokie machines with high RTP rates, visit the website PokieMachines.com. This resource highlights safe, well-regulated platforms with exciting game libraries.
Trends Shaping the Future of Online Pokies
Online casinos are increasingly introducing community-based and competitive features. Multiplayer slot tournaments, leaderboards, and social challenges allow players to interact, compete, and share achievements. These features make pokies more immersive, creating a sense of camaraderie and excitement beyond traditional solo play.
Modern pokies platforms emphasize responsible play too. Tools like deposit limits, session reminders, loss tracking, and reality checks help players manage time and spending. Integrating these features ensures that gaming remains fun and controlled, allowing players to enjoy cutting-edge graphics, interactive features, and big wins responsibly.
The Future Spins Bright
Modern pokie machines represent the perfect blend of entertainment, technology, and innovation. From classic reels to interactive story-driven slots, they have evolved into a global phenomenon that continues to shape the online casino experience.
As technology advances, players can expect even more immersive gameplay, enhanced social features, and tools that promote responsible gaming. If you are in it for fun, competition, or the thrill of the spin, the future of pokies is brighter than ever.
The post Modern Pokie Machines and the Future of Online Gambling appeared first on European Gaming Industry News.
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