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LeoVegas AB: Quarterly report 1 april – 30 june 2019

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9-9 LeoVegas AB: Quarterly report 1 april – 30 june 2019Reading Time: 4 minutes

 

“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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Allied Esports Partners with Esports Entertainment Group to Launch Inaugural VIE.gg CS:GO Legend Series Tournament

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12-2 Allied Esports Partners with Esports Entertainment Group to Launch Inaugural VIE.gg CS:GO Legend Series Tournament
12-2-1 Allied Esports Partners with Esports Entertainment Group to Launch Inaugural VIE.gg CS:GO Legend Series TournamentReading Time: 4 minutes

 

Tournament Will Be Offered to Sports Bettors on the VIE.gg Platform

Allied Esports, a global esports entertainment company and a subsidiary of Allied Esports Entertainment, Inc., has signed a licensing and sponsorship agreement with Esports Entertainment Group, Inc., a licensed online gambling company with a focus on esports wagering and 18+ gaming, for the inaugural VIE.gg Counter-Strike: Global Offensive (“CS:GO”) Legend Series tournament beginning Monday, August 31, 2020.

The VIE.gg CS:GO Legend Series will feature 12 teams from multiple European countries competing online for €50,000 in total prize money. The 5v5 tournament, which will be offered to customers on the VIE.gg platform, will be produced by Allied Esports from its HyperX Esports Studio in Hamburg, Germany and broadcast live on Twitch.tv/AlliedEsports with a lineup of professional casters and analysts. Teams at Tier 2 or below that are interested in playing can apply online at AlliedEsports.gg/LegendSeries starting Wednesday, July 15. Invitations will be sent out to participating teams on Friday, July 17.

“We’re excited to partner with an industry leader, Allied Esports, as the title sponsor of their newest esports tournament,” said Grant Johnson, CEO of Esports Entertainment Group. “Title sponsorship places the VIE.gg brand front and center for teams, fans and influencers alike, further accelerating user adoption of the VIE.gg platform.”

Esports Entertainment Group offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at VIE.gg. The VIE.gg platform provides customers the ability to match bets against one another with Esports Entertainment Group taking a small commission on the winnings.

“We believe that esports tournaments should not just be fun for participants, but also have the ability to help sponsors achieve their business goals, and our knowhow and portfolio of esports brands, arenas, mobile trucks and studios uniquely meet that need in today’s ecosystem,” said Frank Ng, CEO of Allied Esports Entertainment. “The Legend Series has been one of our most successful original tournament brands and we are thrilled to work with Esports Entertainment Group and the VIE.gg platform to add a wagering component that will introduce Allied Esports to new consumers and elevate the brand even further.”

Created in 2017, Allied Esports’ original Legend Series tournament brand was designed to expand the competitive ecosystem and total prize pool for second and third tier teams. The VIE.gg CS:GO Legend Series will be Allied Esports’ sixth edition of the CS:GO Legend Series and the first to feature a licensing partner and title sponsor. Additional versions of the series have previously included Overwatch, League of Legends, FIFA, COD Blackout and Valorant.

Allied Esports’ two-week, high-intensity CS:GO Legend Series format includes 11 consecutive days of single matches where teams will accumulate points and prize money for each win. The top eight teams from the first round will advance to a best-of-three bracket played over the last three days of the tournament.

“We’re excited to play a role in providing a platform for smaller teams to compete for prize money,’’ commented Magnus Leppaniemi, VP of Marketing and Head of Esports at Esports Entertainment Group. “While the largest esports teams earned tens of millions of dollars in prize money last year, there are hundreds of smaller teams that get excluded from the flagship competitions. The VIE.gg CS:GO Legend Series is our first effort at working to fill this void, and we look forward to getting involved in more events like this moving forward.”

 

About Allied Esports

Named one of the World’s Most Innovative Companies by Fast Company, Allied Esports International, Inc. is at the forefront of esports entertainment with a global network of properties designed to serve as competition battlegrounds, community experience hubs and content production centers.

Through direct operation or membership in the Allied Esports Property Network, the world’s first esports affiliate program, Allied Esports’ facilities span North America, Europe, China and Australia, and include the world-renowned HyperX Esports Arena Las Vegas, a fleet of mobile arenas, the HyperX Esports Trucks, and the HyperX Esports Studio in Hamburg, Germany.

Allied Esports’ properties serve as the home to a number of online and offline proprietary productions and events, including Friday Frags and Saturday Night Speedway, as well as original partner programs like the Simon Cup.

For more information about Allied Esports, visit AlliedEsports.gg and follow @AlliedEsports. Allied Esports International, Inc. is a subsidiary of Allied Esports Entertainment, Inc.

About Allied Esports Entertainment

Allied Esports Entertainment, Inc. (Nasdaq: AESE) is a global leader in esports entertainment, providing innovative infrastructure, transformative live experiences, multiplatform content and interactive services to audiences worldwide through its strategic fusion of two powerful brands: Allied Esports and the World Poker Tour (WPT). For more information, visit AlliedEsportsEnt.com.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in Malta and Curacao, Kingdom of the Netherlands and is able to accept wagers from over 149 jurisdictions including Canada, Japan, Germany and South Africa. Esports Entertainment offers fantasy, pools, fixed odds and exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company maintains offices in Malta. For more information visit www.esportsentertainmentgroup.com

 


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: Allied Esports Partners with Esports Entertainment Group to Launch Inaugural VIE.gg CS:GO Legend Series Tournament

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Week 28/2020 slot games releases

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weekly-slot-releases-1-2 Week 28/2020 slot games releases
weekly-slot-releases-1-3 Week 28/2020 slot games releasesReading Time: 5 minutes

 

Here are this weeks latest slots releases!

Nolimit City conjures up Golden Genie & The Walking Wilds. Fresh from a flurry of new exciting releases, the Malta based Software Provider keeps the pace at fifth gear with the announcement of yet another mega title that’s set take their audience to a new journey offer an exciting theme by the developer. Set in the beautiful landscape of the expansive Arabian Desert, adorned with Middle Eastern décor and a touch of romance, this fairy tale slot game delivers more than just a picturesque image. A video slot that offers multiple in-game features, keeping suspense a common trait with a flair of imagination that’s jumps at you from every angle.

golden-genie-2 Week 28/2020 slot games releases

 

Spearhead Studios is pleased to announce the first game launch during Super July. Dark Joker is a new medium volatility title designed using the well-known comic book style. This high-intensity slot aims to project the player into the world of heroes and villains. Dark Joker is the title which opens Spearhead Studios’ Super July month, with no less than 5 scheduled releases. Dark Joker is a 3×3 video slot with a dark, comic book style and high-octane gameplay. The game features ‘Dark Joker Re-spins’ and win multipliers of up to 10x, and generates wins of up to 1,000x the player’s bet.

dark-joker-1-2 Week 28/2020 slot games releases

 

High 5 Games takes players on a trip down the rabbit hole as they debut their Wonderland themed slot game Teatime Treasures, featuring the return of their Wild Train feature! The 5×5 25 payline slot game being launched by leading independent casino games provider, H5G, takes players on a curious adventure to the famous Mad Hatter tea party. The game’s Wild Train feature is activated when the caterpillar and the slice of cake symbol appear on the board at the same time. The caterpillar will munch his way through the reels, proceeding to eat the cake. Every slice of cake accumulated during the base game is added to the win meter that is displayed on the left-hand side of the screen, featuring the Cheshire Cat. If a player collects enough cake in consecutive spins to raise the meter, they will work their up to unlock the Free Games Bonus and the Jackpot bonus.

Teatime-Treasures-2 Week 28/2020 slot games releases

 

Genesis Games launches Radi8’s 14th game, Galaxy Stars, a brand-new online casino slot game that features Blazing Wilds, Wilds that sticks on the row and moves horizontally to the left after each spin during one of its three features. Galaxy Stars is a 3×5, 20 pay-line game that boasts a maximum win of 5,000x with an RTP of 96.23%. Galaxy Stars is responsive to most devices and bundled with Rad+, a unique loyalty program system, that allows players to earn loyalty coins and other gamification functions across the Radi8 series of games.

GALAXY-STARS Week 28/2020 slot games releases

 

AvatarUX, will be delivering WildPops2122-49 Week 28/2020 slot games releases to operators. After the success of PopRocks2122-50 Week 28/2020 slot games releases, WildPops2122-51 Week 28/2020 slot games releases is the second installment in the PopWins2122-52 Week 28/2020 slot games releases series and promises an improved gameplay experience with some nice big win potential. With a sharp focus on innovation combined with the vast experience of Managing Director, Marcus Honney, and his team, AvatarUX is garnering a reputation for delivering quality design with a fresh, bespoke experience to slot fans.

wildpops-2 Week 28/2020 slot games releases

 

Playson is taking players on a voyage to the Far East in search of huge prizes in its new title, Pearl Beauty: Hold and Win. This 243 ways to win slot transports players to a place of mysticism as they join two adventurous characters on a quest for big wins and bonus features. The game incorporates the popular Hold and Win mechanics which proved to be a big hit with players in the developer’s Sunny Fruits: Hold and Win. Pearl Beauty: Hold and Win features a Bonus Game which is triggered by six or more bonus pearl symbols. The special Golden Pearl symbol during the Bonus Game collects the values of the other pearls and immediately adds it to the total win.

Pearl-Beauty-Hold-and-Win-2 Week 28/2020 slot games releases

 

Lightning Box has prepared for battle with the launch of its latest title, Spartan Fire. The 4×5 reel slot features 40 paylines as players fight for big wins. With the Wild Eyes symbol acting as a wild, the Spartan Spin feature also turns the Man and Woman icons into wilds for even bigger wins. If three or more Spartan Shields land on the reels, the Spartan Fire Bonus is triggered, giving players a chance to choose their shields to lead them to glory.

 

SpartanFire_Screen_01-2 Week 28/2020 slot games releases

 

Pragmatic Play, a leading content provider to the gaming industry, travels to the dangerous lair of fearsome dragons in its latest title Drago – Jewels of Fortune. Featuring a huge 1,600 ways to win, the five-reel slot is a highly detailed one, with dragons guarding the riches on the reels. The Dragon Super Spin Bonus Feature is triggered should four matching Dragon symbols land on the same spin, where only Dragons, upgrade symbols and empty symbols will appear on the reels, with Dragons being sticky. With an increasing multiplier for every upgrade found, staggering wins await.

drago Week 28/2020 slot games releases

 

CT Gaming Interactive has released its latest online slot “Cherry Crown”. The game features a fruit theme with a bright design and good sound effects. The game has scatter – Star, that brings a win, regardless on the reels it appears. The Crown symbol allows increasing of wins significantly. When appearing on the reel, it will fill the reels nearby to make the most successful combination. The prizes and bonuses of the slot are available during the main game. The wins could be increased in card doubles with simple rules. All the correctly guessed values will double or even increase by four times the win received in the main game.

3-2-2 Week 28/2020 slot games releases

 

Microgaming has launched the debut online slot from Nevada-based games developer Gold Coin Studios, as part of a new content supply deal. The studio’s first title is Arthur’s Gold2122-53 Week 28/2020 slot games releases, a gleaming five-reel, high-volatility slot set in a medieval world of Double Symbols, 10-of-a-kind pays, and a free spins bonus with expanding wilds and respins, offering win potential of up to 4,000x.

Arthur’s-Gold Week 28/2020 slot games releases

 


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: Week 28/2020 slot games releases

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Cambodian Cabinet Passes Casino Regulation

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9-4 Cambodian Cabinet Passes Casino Regulation
9-4-1 Cambodian Cabinet Passes Casino RegulationReading Time: < 1 minute

 

Cambodia’s cabinet has approved the draft law on commercial gaming management, according to reports in the Phnom Penh Post.

The law “focuses on ensuring integrated commercial gambling that contributes to economic growth, tourism promotion, job creation, and revenue generation,” the report said, citing a press release from the Council of Ministers.

It calls for strict casino sector management and measures to protect against money laundering and terrorism financing.

The report gave little information on the details of the bill, except to confirm that locals will not be permitted to gamble and there will be no further licenses issued within 200km of the capital, where NagaCorp has a monopoly.

The report cited government spokesman Phay Siphan as saying that money laundering and terrorism financing concerns are addressed through cooperation with relevant casino partners.

The gambling law has been in the works for nine years.


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: Cambodian Cabinet Passes Casino Regulation

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