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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2021

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“All-time-high in Sweden and a strong start for Expekt” – Gustaf Hagman, Group CEO

SECOND QUARTER 2021: 1 APRIL – 30 JUNE

  • Revenue decreased by 13% to EUR 96.8 m (110.7).
  • Excluding Germany, growth was positive 3%.
  • Adjusted EBITDA was EUR 10.6 m (23.0), corresponding to a margin of 10.9% (20.8%). Reported EBITDA was EUR 9.8 m (23.0).
  • The number of depositing customers was 460,697 (434,453), an increase of 6%.
  • Adjusted earnings per share were EUR 0.06 (0.19).

EVENTS DURING THE QUARTER

  • The acquisition of Expekt was completed and integrated on 19 May 2021. The start has been a success, and Expekt’s revenue and market share have nearly doubled in Sweden since the acquisition was carried out.
  • LeoVegas’ forthcoming expansion to the USA, starting in the state of New Jersey, is on track.
  • LeoVegas carried out share repurchases for EUR 4.9 m and paid out of the first out of four quarterly dividends to the Parent Company’s shareholders. The second quarterly dividend payment was made after the end of the period.
  • LeoVegas’ framework and routines for ensuring responsible gaming have been assessed by the independent agency eCOGRA. The external assessment shows that LeoVegas is in conformity with all relevant recommendations and requirements for responsible gaming published by the European commission.

EVENTS AFTER THE END OF THE QUARTER

  • Preliminary revenue in July amounted to EUR 32.8 m (30.7), corresponding to growth of 7%. Excluding Germany, revenue grew 23%.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

SECOND QUARTER
Most of our markets have continued to develop well, with high, double-digit growth in key markets like Italy and Spain. The development in Sweden is encouraging, with record-high revenue during the quarter. We are also growing rapidly in North America, which now accounts for 10% of consolidated revenue. However, re-regulation in Germany continued to negatively impact figures during the period. Excluding Germany, Group revenue increased by 3% to a new record level despite tough comparison figures from the start of the pandemic during the second quarter of 2020 and greater competition from other entertainment activities as societies are now opening up again. We expect to see positive growth for the Group on a yearly basis during the third quarter.

Our operating profit decreased compared with the same period a year ago, while we achieved stable earnings compared with the preceding quarter. This is despite a high level of investments and a number of important, strategic ventures, including our forthcoming launch in the USA, a stronger focus on sports with the acquisition of Expekt, and our new game studio. Marketing costs in relation to revenue were higher than the historic average, coupled among other things to the relaunch of Expekt and investments in a number of key markets in which we see high customer growth. Investments in marketing during the quarter weighed down earnings short-term but are driving value long-term and will also enable us to accelerate out of the revenue drop in Germany. As revenues increase, the share of marketing investment will decrease. At the same time, we have maintained good cost control, and our operating expenses have more or less been unchanged over the last three-year period.

THE NEW EXPEKT
In mid-May we consolidated the acquisition of Expekt, and shortly thereafter “the New Expekt” was launched with a large and attention-grabbing marketing campaign ahead of the Euro 2020 football championship. It was a successful start, and in a short time we nearly doubled Expekt’s revenue and market share in Sweden since completion of the acquisition.

GERMANY
The situation in Germany coupled to re-regulation, with strict product limitations, an extremely high gaming tax and a skewed competitive situation, is having a negative effect on the Group. Revenue in Germany decreased by 81% compared with a year ago and accounted for only 4% of Group revenue during the quarter. We believe it will take time to create a balanced and fair market climate and have therefore chosen to shift our investments to other, more profitable markets. Over the long term we still believe that Germany, with Europe’s largest population, offers great opportunities for the Group.

NORTH AMERICA
Our forthcoming expansion to the USA, starting with the state of New Jersey, is on track. We are currently working on adapting and certifying our technical platform, and during the autumn we will also begin establishing a local organisation. We expect to accept our first American customers during the first half of 2022.

The Canadian province of Ontario, which is home to roughly 40% of Canada’s population, is conducting preparations to introduce a local licence system for online gaming. LeoVegas has built up a strong brand along with a large and loyal customer base in Ontario and the rest of Canada, among other things with help from former hockey legend Mats Sundin. According to our assessment LeoVegas is one of the larger and most well-known casino actors in the Canadian market.

During the second quarter, North America accounted for 10% of the Group’s total revenue and grew 33%. In pace with our continued expansion in Canada and forthcoming launch in the USA, revenue from North America will increase. This is in line with the Group’s strategy to diversify our revenues.

COMMENTS ON THE THIRD QUARTER
Revenue for the month of July amounted to EUR 32.8 m (30.7), corresponding to positive growth of 7%. Adjusted for Germany, the Group’s growth in July was 23%.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Week 29/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has rolled out the latest addition to its iconic Demi Gods Series: Demi Gods VI Hold & Hit. In this new release, players are transported to a mystical realm surrounded by ominous mountains and swirling mists. The adventure unfolds within a 5×3 reel frame, where electric anticipation crackles around each spin. Atlas, Selene, Helios, and Hera are once again the main protagonists on a mission through ancient Greece in the hunt for glory.

Million Games is thrilled to announce the launch of Fortune Fairies, an enchanting new video slot that takes players into a mystical forest filled with magic, rewards, and a jackpot. This 5×3, high volatility slot invites players into a world, where ethereal fairies, shimmering orbs, and hidden treasures await. Designed for players who love immersive storytelling and rewarding gameplay, Fortune Fairies features two captivating bonus rounds.

GAMOMAT, one of the leading independent German software developers for slot games, has released Roman Legion Flaming Link, the latest addition to join the line-up of its hugely successful Flaming Link series. This imperious 5×3 slot marches players straight to the heart of the Roman Empire, where legionnaires must vie for victory.

PG Soft has unveiled its fantasy-fueled video slot, Dragon’s Treasure Quest. The game is presented within a  5-reel, 3-row frame and features expanding reels and multipliers. Players must track down hidden treasures while navigating through legendary lore to find Wilds and Scatters, represented by a dragon eye and treasure chest respectively.

BC.GAME is adding a dark twist to its slot lineup with the launch of Symbiote, a high-volatility crypto slot developed by Croco Gaming. Inspire by the cult comic Venom, the game invites players into a battle for control — where fusing with an alien parasite brings incredible power, but always at a cost. Symbiote draws heavy visual influence from comic book aesthetics, particularly from the Venom universe.

Get ready to don your sombrero and put your piñata smashing arm to the test in Piñateros – the brand-new Premium release from popular software provider, Swintt, where collecting six or more flaming chilis can unlock fiery rewards or one of four red-hot local jackpots. Boasting a colourful collection of symbols that serves up sugar, spice and all things nice, this exciting 5×3 reel, 50-payline slot includes fresh fruits, thirst-quenching beverages and Mexican musical instruments among its unique icons, with expanding wilds helping to create further wins.

 

Saddle up, slot fans! TaDa Gaming’s latest release, Bounty Frenzy, is here to ignite the reels with wild west energy, gold-studded features and nonstop action. Packed with cascading wins, dynamic multipliers and transforming Gold Frame Wilds, this medium-volatility slot delivers thrilling gameplay with a 5000x max win potential.

The chaos-loving Joker returns in Cashin’ Joker, a vibrant 3-reel slot from Play’n GO that doesn’t play by the rules. As numbers tumble onto the reels and transform into powerful multipliers, players are thrust into a fast-paced experience full of surprises and dramatic shifts in momentum. Every time the Joker symbol appears, the game shifts into another gear.

Red Rake Gaming has released Super 60 Stars, the latest addition to its acclaimed Super series, now available to all partner operators. This new release retains the fast-paced gameplay and wide variety of features that have made the series one of the most popular in the iGaming industry, while also introducing an exclusive new addition that adds even more excitement to the game. The new feature in Super 60 Stars is the “Super 60 Stars” symbol, which can appear anywhere on the reels and trigger the brand-new “Super 60 Gold X” minigame.

The post Week 29/2025 slot games releases appeared first on European Gaming Industry News.

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Legends Charity Game in Lisbon to raise millions for charity

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International stars of the football world are coming together in Lisbon this September for the Legends Charity Game in order to raise funds for communities suffering from the effects of war and local tensions around the world.

Timed to coincide with the SBC Summit in Lisbon, the Legends Charity Game on Monday 15 September is a highly anticipated match between Portugal Legends vs. World Legends, featuring some of the biggest names in the history of football. The Legends will compete in front of 60,000 Fans, and in front of millions of people that will watch the game online / on TV.

With strong support from the Portuguese Football Federation (FPF), the match will see Portuguese legends playing against footballing royalty from the Rest of the World in an event that aims to raise over €1,000,000 for selected charities in the support of communities and families experiencing extreme hardship.

Luis Figo, who won trophies across Europe as well as the Ballon d’Or in 2000, will be captaining the Portugal Legends side. He comments: “It’s always a pleasure to come back to my country and play football, especially when wearing the national team colours! Hope to see a full stadium in my hometown Lisbon for this amazing Legends Charity Game and raise funds for important charity causes.”

Joining Figo from the triumphant Euro 2016 winning squad are Ricardo Quaresma, Eliseu and Ricardo Carvalho. Champions League winners Fábio Coentrão, Maniche, Hugo Almeida, Vitor Baia, José Bosingwa and Deco will also play on the night as well as other famous Portuguese legends include Beto, Jorge Andrade, Dani, Tiago Mendes, Hélder Postiga, Nuno Gomes and Simão. They will be managed by another Champions League winner – Costinha.

They will be facing stiff competition from the World Legends squad that includes legends such as: Peter Schmeichel (Denmark), Cafu (Brazil), Javier Zanetti (Argentina), Diego Lugano (Uruguay), Leonardo Bonucci (Italy), Gaizka Mendieta (Spain), Youri Djorkaeff (France), Christian Karambeu (France), Marek Hamsik (Slovakia), Giorgos Karagounis (Greece), Krassimir Balakov (Bulgaria), Gheorghe Hagi (Romania), Edwin van der Sar (Netherlands) Henrik Larsson (Sweden), Shota Arveladze (Georgia), Javier Saviola (Argentina), and Ronaldinho (Brazil).

The match will be played in front of 60,000 fans at either Estádio da Luz (Benfica Stadium) or José Alvalade Stadium (Sporting Lisbon Stadium), which will be part of a big and exciting reveal in August when the Champions League schedule is released.

The Legends Charity Game aims to raise over €1,000,000 for a number of good causes based both abroad and in Portugal as the Football Family aims to give back to the families of the world. Funds will be raised for both international and national charities who help families and communities in need.

One of the international organisations that The Legends Charity Game will be raising funds for is the Ukrainian Red Cross Society (URCS). Every day, the Ukrainian Red Cross teams provide evacuation support, psychosocial and first aid, provide essential humanitarian relief, support temporary shelters, help with housing restoration, and spread awareness about unexploded ordnance risks. Ukrainian Red Cross volunteers and staff work in all regions of the country to support those who need it most.

Maksym Dotsenko, Director General of the Ukrainian Red Cross, comments: “The war in Ukraine continues, and unfortunately, millions of people still need support every day. We have no right to stop. Initiatives like the Legends Charity Game are not just about the funds raised. They are about compassion, and the understanding that the world stands by us. They are about solidarity that transforms into real help for those going through the toughest times. We are grateful to everyone who takes part.”

The Lisbon-based Cáritas Portuguesa, which offers critical support to marginalised communities fighting issues such as poverty and inadequate emergency relief, is also a charitable partner for the Legends Charity Game.

SBC Founder & CEO Rasmus Sojmark explains: “We are taking our charitable endeavours up a notch this year with the spectacular football match in order to raise a lot of money for some very worthy causes. By tying the match in with the SBC Summit in Lisbon the same week, we have found a way for the communities around football and business to help other communities that are facing unimaginable hardships.”

Tickets  are available to purchase via the official website www.legendscharitygame.com. See Tickets will handle ticket management of the event.

Sponsorships and Hospitality are still available in support of the event and the charities. Some of the sponsors already confirmed include iGP, Soft2Bet, Sportingtech, Vegas Legends, Spribe, SmartSoft and Alea.

Sport Global Charitable Foundation is a restricted fund under the auspices of Prism the Gift Fund (UK registered charity with charity number 1099682). All of the profits from the Legends Charity Game will support the Sport Global Charitable Foundation’s beneficiary charities across a range of causes including the Ukrainian Red Cross Society and Caritas Portugal.

The post Legends Charity Game in Lisbon to raise millions for charity appeared first on European Gaming Industry News.

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International Chess Day: How India’s ancient game is evolving into a rising force in esports

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Few games can boast a history as rich and enduring as chess. Originating in ancient India as Chaturanga, chess has evolved over centuries into one of the world’s most popular and celebrated sports. For a game with roots tracing back nearly 1500 years, it is rare to find renewed relevance in the digital era, but chess has done exactly that. Today, it thrives not only as a timeless sport of intellect and strategy but also as a modern source of entertainment, with millions of active players, vibrant communities, and massive global viewership.

This transformation has been driven by the meteoric rise of online chess, especially during the 2020 lockdown, which acted as an unexpected catalyst. The global success of the Netflix series The Queen’s Gambit, combined with the rapid growth of chess streamers across platforms like Chess.com, Twitch, and YouTube, propelled the game into mainstream pop culture.

Tournament series like PogChamps, launched by Chess.com in 2020, introduced chess to millions by featuring popular streamers and celebrities, each mentored by elite Grandmasters. Adding to this momentum were leading streaming personalities like Levy Rozman, known as GothamChess, and the Botez sisters, Alexandra and Andrea, who have built massive followings on both Twitch and YouTube. The accessible, educational, and entertaining style of these streamers has made chess more engaging and relatable to younger audiences than ever before.

Since then, online chess has seen explosive growth. In 2024 alone, Chess.com recorded over 7.6 billion games played. The platform has surpassed 200 million registered users globally, with India contributing over 9 million monthly active players and adding an average of 550,000 new signups each month. Beyond gameplay, viewership numbers have soared, with chess amassing 925 million organic views this year, reflecting an incredible 640 percent year-on-year growth. With its easy-to-play format and accessibility anytime, anywhere, chess has cemented itself as a universal sport for the digital generation.

This digital success naturally extended into the competitive esports world. The chess esports revolution accelerated in 2020 when world-renowned Grandmasters such as Qiyu Zhou, Hikaru Nakamura, and Andrew Tang joined established esports organizations like Counter Logic Gaming, Team SoloMid (TSM), and Cloud9 respectively, blending the traditions of chess with the excitement of competitive gaming.

The momentum continued when the International Chess Federation (FIDE) and Chess.com included chess in the inaugural Olympic Esports Week in 2023 in Singapore. This evolution reached a landmark moment with chess officially becoming part of the prestigious Esports World Cup (EWC) 2025 in Riyadh, with Norwegian legend Magnus Carlsen serving as the tournament’s ambassador. Organized in partnership with Chess.com, this year’s EWC features a prize pool of $1.5 million (approximately INR 12.8 crore), bringing together the world’s top chess players to compete in the fast-paced 10+0 rapid format, while representing leading esports organizations from across the globe.

Indian chess is making its presence felt on this grand stage. Grandmaster Arjun Erigaisi, signed with global esports organization Gen.G, has already secured his place at EWC 2025 through the Champions Chess Tour. The final four spots will be decided through the Last Chance Qualifier from July 24 to 26, where top Indian players, including Grandmasters Nihal Sarin and Aravindh Chithambaram, will compete.

Both Nihal and Aravindh have joined S8UL, a global powerhouse in esports and gaming content to compete at EWC 2025. S8UL is the only Indian organization selected among the 40 elite global teams in the Esports World Cup Foundation’s (EWCF) Club Partner Program. The organisation has earned its place to compete among the world’s best in Apex Legends and EAFC, and will also be fighting for qualification in Tekken 8 through the Last Chance Qualifier, further expanding its presence across multiple esports titles.

“It’s incredible to watch chess evolve from a quiet, traditional sport into a bold, global movement. Being part of S8UL has introduced me to the world of esports and content creation, opening up new ways to connect with people. Today, chess isn’t just about strategy, it’s about storytelling, culture and community. I’m proud to be part of this exciting shift, as the game steps into a whole new era,” shares Nihal Sarin.

The chess esports revolution in India is also being championed by NODWIN Gaming, a leader in South Asia’s esports and gaming ecosystem. The company recently announced a strategic partnership with Chess.com and ChessBase India aimed at building the future of chess esports in the country. This collaboration has already delivered remarkable success, most notably with the exclusive streaming of the recent World Chess Championship, where India’s Gukesh Dommaraju defeated Ding Liren to become the World Chess Champion. The event garnered over 24 million views, with peak concurrent viewership reaching 200,000.

Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, says, “The rise of online chess shows how even the most traditional games can reinvent themselves in a digital-first world. Chess has always stood for intellect and discipline, but with streaming, new formats, and structured esports competitions, it’s now more accessible and entertaining than ever, especially for younger audiences.”

Over the years, NODWIN Gaming has consistently driven the mainstream growth of chess through innovative initiatives. The Chess Super League in 2021 brought together a unique mix of top international Grandmasters, leading Indian Grandmasters, International Masters, and promising junior players, offering fans a fresh, competitive, and entertaining viewing experience. Chess has also featured prominently at DreamHack Hyderabad, India’s largest gaming festival, further reinforcing its place within the broader gaming and esports ecosystem.

“At NODWIN, we’ve always focused on youth entertainment across gaming, esports, and digital culture. Chess fits right into that vision. We’re excited to keep reimagining how the game is experienced and to help it grow as a meaningful part of the broader digital entertainment ecosystem,” adds Akshat Rathee.

On the occasion of International Chess Day, it serves as a fitting reminder that chess has always been more than just a game in India. Its digital evolution has unlocked exciting new avenues for competition, community building, and content creation. The board may remain the same, but the game continues to evolve, inspiring new generations of players and fans in the digital era.

The post International Chess Day: How India’s ancient game is evolving into a rising force in esports appeared first on European Gaming Industry News.

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