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LeoVegas AB: Quarterly report 1 april – 30 june 2019

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“LeoVegas is delivering good growth with high profitability in a difficult-to-navigate environment. Q2 2019 was our best quarter ever, and we continue to take market shares.” – Gustaf Hagman, VD och koncernchef

Second quarter 2019: 1 april–30 june 2019[1]

  •  Revenue increased organically by 8% to EUR 94.4 m (87.4).
  •  EBITDA was EUR 15.1 m (15.0), corresponding to an EBITDA margin of 16.0% (17.2%).
  •  The number of depositing customers was 334,961 (309,987), an increase of 8%.
  •  The number of returning depositing customers was 196,203 (175,500), an increase of 12%.
  •  Earnings per share were EUR 0.07 (0.07) before and after dilution.

Events during the quarter

  •  LeoVegas was granted a gaming licence in Spain. Two weeks after the licence was granted, LeoVegas was launched in Spain.
  •  LeoVegas’ technological infrastructure was migrated to Google Cloud.
  •  A number of product innovations were launched, including improved search functions, multiplay on mobile devices and exclusive games.

Events after the end of the quarter

  •  Preliminary revenue of EUR 29.7 m (27.1) in July, representing growth of 9%.
  •  LeoVegas has opted to not apply for a gaming licence in the recently re-regulated Swiss market. Switzerland accounted for EUR 2.2 m of revenue during the second quarter.
  •  Dersim Sylwan recruited as new Chief Marketing Officer and will assume his position by 1 January 2020 at the latest.
  •  Louise Nylén leaving as deputy CEO. Her role will not be replaced.
  •  Notice of Extraordinary General Meeting on August 28 regarding incentive program. The notice is posted on the company’s website.

Comment from Gustaf Hagman – Group CEO

First half of 2019
During the first half of 2019 we generated good underlying growth and profitability despite a difficult-to-navigate external environment in several of our largest markets.

Second quarter results
Revenue during the second quarter amounted to EUR 94.4 m (87.4), an increase of 8%. Organic growth in local currencies was 8%. Growth was favourable during the period in most of our markets. However, the UK continued to be challenging. Excluding the UK, organic growth was 26%. At the same time, in Sweden we have found a new base to grow from following regulation of the market, and our revenue developed in a positive direction month-on-month during the quarter.

Compared with a year ago, LeoVegas has a more balanced geographic revenue mix. This means that we are not as sensitive to challenges that may arise in a specific market, which in turn means that we have lower business risk in the Group.

EBITDA totalled EUR 15.1 m (15.0) during the second quarter, corresponding to an EBITDA margin of 16.0% (17.2%). Greater focus on efficiency and cost control has had the intended effect, and we continue to review our external agreements and optimise our own organisation. This work is helping to create necessary economies of scale and is countering the effect of that we are paying more gambling taxes. As previously communicated, our marketing investments also decreased compared with the first quarter of the year. A contributing factor to this is more restrained marketing in Sweden during the quarter. In addition, the postponement of a few campaigns from the second to the third quarter has affected costs and contributed to operating profit, which will have a reverse effect during the third quarter.

To further benefit from the expertise that has been added through acquisitions and be more efficient, we have restructured the country organisations for the UK and Italy. We have moved country-specific functions into our central teams and eliminated roles that have become redundant as a result of acquisitions. This is one of many initiatives we have taken to increase efficiency and optimisation within the Group.

Sweden
Sweden has now been a regulated market for more than six months, and the development is beginning to indicate what kind of market we will have over the long term. We are satisfied with our performance in Sweden and believe that we are taking market shares. LeoVegas is today the single largest casino brand in Sweden. Our focus on product and customer experience, our knowledge about regulated markets and our strong brand position contribute to the positive development. On top of this, the launches of GoGoCasino and Pixel.bet have been successful, and the brands are appreciated by our Swedish customers.

As a large and long-term player both in Sweden and globally, we at LeoVegas want to participate in changing the perception of the industry. There is a strong need today to educate and inform the general public, opinion-shapers and politicians about our industry, what we stand for and the work we are doing – not least in responsible gaming and sustainability. This is important for ensuring that we work together to secure that the new regulation is a success with high participation in the licence system, i.e. that there is a high level of channelization, and with extensive consumer protections.

Expansion
Only two weeks after we received our licence in Spain, we went live as the first newly licensed operator. This shows the strength and speed of LeoVegas and further demonstrates that our experience from regulated markets benefits us. Spain is a step in our continued expansion, and we have also recently carried out launches in other Spanish-speaking countries, such as Chile and Peru, as well as in Brazil.

Technology
During the quarter we migrated our technology to Google Cloud. The move will allow us to better scale our technical infrastructure environment without having to invest in hardware. Within the product innovation area, we have, among other things, launched improved search functionality, multiplay on mobile devices and new, exclusive casino games for LeoVegas customers.

Financial targets
We reiterate our ambitious financial targets to achieve EUR 600 m in revenue and EBITDA of EUR 100 m by 2021. We want to clarify that the targets are based primarily on organic growth, but also include revenue from potential future acquisitions.

Comments on the third quarter
Revenue for the month of July was EUR 29.7 m (27.1), representing growth of 9%.

LeoVegas has opted to not apply for a licence in the recently re-regulated Swiss market, and as a result we are no longer accepting business in that market. Switzerland accounted for EUR 2.2 m in revenue during the second quarter.

Our current assessment is that the Group’s marketing costs will increase during the third quarter compared with the second quarter, both in relation to revenue and in absolute figures.

Final words
We have once again presented a quarter with organic growth combined with good profitability. The investments made in 2018 and efficiency improvement work carried out thus far in 2019 are beginning to generate returns in the form of greater scalability of operations. Despite this, we are not content and are working continually to be even better. The external market environment in several key markets is currently more turbulent and difficult to predict than previously, which is creating new challenges and requirements, but at the same time it is presenting major opportunities for us to grow and take market shares. We continue to focus on becoming the global casino company number 1 – we are King of Casino!


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: LeoVegas AB: Quarterly report 1 april – 30 june 2019

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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One month until the N1 Puzzle Promo finale — Barcelona will host the iGaming party everyone is going to talk about

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There’s less than a month left until the official end of N1 Puzzle Promo. And while the battle for the top spot on the leaderboard becomes fiercer every day – and the promo leaders eagerly wait for new updates – N1 Partners is preparing an event that will leave no one indifferent, neither N1 Partners affiliates nor the wider iGaming community.

Event: N1 Puzzle Promo award ceremony 🎉
Where: Barcelona, Spain
When: January, 2026

N1 Partners is bringing together top affiliates and industry leaders to announce – live from the stage – the winner of N1 Puzzle Promo and award the grand prize of the promo: the Robinson R22 Beta II helicopter 🚁

What else is the N1 Partners team preparing?
We’re not revealing all the details just yet, but some things are simply impossible to hide:

  • exclusive luxury prizes awarding that you’ll definitely want to add to your collection
  • performances by top artists and a surprise headliner — who will it be? You’ll find out very soon… 🤫
  • special activities available only to guests of the event

N1 Puzzle Promo rules reminder
The promo runs until December 31, 2025. The more puzzles collected, the higher the chance to win the helicopter — we’re almost out of time.

  • SEO traffic – 1 puzzle per 10 FTDs
  • PPC & ASO – 1 puzzle per 40 FTDs
  • FB & other* – 1 puzzle per 100 FTDs

* Social media traffic, SMS, Email, UAC, In-app

Only Tier-1 GEO traffic counts.

Who will take off in the helicopter from sunny Barcelona? Maybe it will be your team!

Stay tuned for updates on the N1 Partners website and social channels — you won’t want to miss the biggest news. See you soon!

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EGT with two accolades from Golden Spade’s Awards 2025

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EGT received well-deserved recognition at the Golden Spade’s Awards 2025 ceremony. At the event, held on November 25, the company took the Slot Machine of the Year prize, and its CEO, Vladimir Dokov, was honored with a Certificate for Outstanding Contribution to the Development of the Gaming Industry.

EGT has been distinguished for the excellent performance of its latest series of slot cabinets Supreme, including 4 models – S 32-32 UP, S 32-32 ST, S 55 S ST, and S 55 V ST. For only several months this year, they had numerous installations and have established themselves as players’ favorites in a number of markets around the world, thanks to the perfect combination of eye-catching design, unmatched comfort, and their compatibility with some of the most popular games from the company’s portfolio.

Mr. Dokov was granted the Certificate for Outstanding Contribution to the Development of the Gaming Industry in recognition of his exceptional impact on the sector in Europe and beyond and his role in positioning Bulgaria among the top gaming solutions providers on a global level.

When accepting the awards, he said: “I am honored to be here tonight among so many industry leaders and to receive these two accolades. They are irrefutable proof that even the most ambitious plans can be accomplished when you work with a team of talented and motivated professionals for whom innovation and technological progress are not just high values, but achievable goals. This success belongs to them.”

The Golden Spade’s Awards ceremony was part of the prestigious Gaming Industry Gala Dinner 2025, organized by the Association of Organizers of Gambling Games and Activities in Bulgaria (AOGGAB) with the support of EUROMAT. This year’s edition of the event, which was the third in a row, gathered leading companies and figures from Bulgaria and abroad under the motto “Together in Europe“ and gave them the opportunity to focus on topics like European integration, professional collaboration, and the shared vision for a sustainable future of the industry.

The post EGT with two accolades from Golden Spade’s Awards 2025 appeared first on European Gaming Industry News.

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Michael Gauselmann at 70: Entrepreneur, Innovator and Chairman of Merkur Group’s Supervisory Board

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“Everything I do, I do with great passion.” A glance at the life of Michael Gauselmann quickly reveals why the Chairman of the Supervisory Board of the Merkur Group and Chairman of the Board of Directors of the Gauselmann Family Foundation chose these words. He can look back on 70 years dedicated to businesses, products and people – shaped by his passion for gaming, entrepreneurial courage and clear, forward-looking decisions.

Born on 28 November 1955 as the second son of company founder Paul Gauselmann, Michael Gauselmann became familiar with the world of vending machines early on. From the age of 13, he spent every school holiday working in his father’s company – always in different departments. This early mix of hands-on experience and an understanding of processes and figures laid the foundation for his later career.

After completing his A-levels, he studied Business Administration at the University of Hamburg, specialising in IT, statistics and marketing. As a graduate, he combined numerical expertise, technical affinity and market awareness – a combination that would later fuel numerous innovations within the Group. In 1982, he joined Nova-Apparate in Hamburg as Executive Assistant, before becoming Commercial Manager of Franken-Automaten Südvertrieb a year later. With the company’s integration into what was then the Gauselmann Group, his true journey within the family business began.

The years that followed were characterised by rapid advancement and significant responsibility. From 1984 to 1986, Michael Gauselmann served as Commercial Manager of today’s adp Merkur as well as CFO of the Group. He then took over management of the former Merkur Spielothek, now Merkur Operations, until 1992 – during a period of strong expansion with around 250 arcades in Germany.

A year later, his focus increasingly shifted to international markets. The “game designer at heart”, as he describes himself, played a pivotal role in developing the Group’s global activities. He acquired Atronic and turned it into a key business unit for the development, production and distribution of casino machines, drove the acquisition of Bell-Fruit Games in the UK and established Stella Electronic for the European market. His passion for games and keen sense for innovation significantly accelerated the Group’s internationalisation.

From 1994 to 2004, Michael Gauselmann was Deputy Chairman of the Management Board of Gauselmann AG. From 2004 until the establishment of the Gauselmann Family Foundation, he and his father Paul acted as co-spokespersons of the Management Board. While he was mainly responsible for the international business and his father concentrated on domestic operations, their shared responsibility for the Group continued to grow.

At the same time, Michael Gauselmann consciously sought new perspectives. He earned a pilot’s licence and enjoyed the vastness of the skies. He became a hunter and now takes care of wildlife conservation in his adopted home of Austria. Today, he lives in Graz in the province of Styria.

Since 2016, he has been a member of the Advisory Board of the Gauselmann Family Foundation. And when his father stepped down from the top of the Group last year, it was clear who would take the helm: since October 2024, Michael Gauselmann has been Chairman of the Supervisory Board of the Group and Chairman of the Board of Directors of the Gauselmann Family Foundation. He sees his role as that of motivator, overseer and adviser. He knows the industry “inside out” – it is in his blood. At the same time, he does not want to “bring back the Gauselmann face” to the company. The focus today, he says, should be on the Merkur brand, the Management Board and the teams.

Above all, he wants a Management Board made up of strong personalities “who don’t just say ‘Yes, Mr Gauselmann’”. “We are a fantastic corporate group with countless opportunities,” he says. “We create entertainment – and that is something to be proud of.” Restoring this sense of pride among employees is one of his key aspirations. Looking ahead, Michael Gauselmann has set himself a clear personal goal: he plans to step back from his roles no later than the age of 75. Until then, he intends to actively support the continued development of the Merkur Group as a modern, internationally positioned entertainment provider.

The post Michael Gauselmann at 70: Entrepreneur, Innovator and Chairman of Merkur Group’s Supervisory Board appeared first on European Gaming Industry News.

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