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Announcement from LeoVegas 2020 Annual General Meeting

Reading Time: 5 minutes
The 2020 Annual General Meeting of LeoVegas AB was held on 8 May 2020, at which the shareholders approved the following resolutions.
Adoption of the income statement and balance sheet
The AGM resolved to adopt LeoVegas’ income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet
Distribution of profit and dividend
The AGM resolved, in accordance with the Board of Directors’ proposal, that of the amount available for distribution to the shareholders, totaling EUR 36,317,631, SEK 142,314,158 shall be distributed to the shareholders, corresponding to an amount of SEK 1.40 per share, and that the remainder, EUR 22,758,736 shall be carried forward. In addition, it was resolved, in accordance with the Board of Directors’ proposal, that dividends will be paid out half-yearly in the amount of SEK 0.70 per share, and that the first record date for entitlement to the dividend shall be 12 May 2020, whereby dividends will be paid out via Euroclear Sweden AB on 15 May 2020, and that the second half-yearly dividend record date shall be 12 November 2020, whereby dividends will be paid out via Euroclear Sweden AB on 17 November 2020.
DISCHARGE FROM LIABILITY
The board members and CEO were discharged from liability for the 2019 financial year.
ELECTION OF THE BOARD OF DIRECTORS AND AUDITOR, AND DIRECTORS’ AND AUDITORS’ FEES
The AGM resolved that the Board of Directors shall consist of seven directors and no deputy directors. It was resolved that the Company shall have a chartered auditing firm as auditor.
In addition, it was resolved in accordance with the Nomination Committee’s proposal that directors’ fees shall amount to a total of SEK 2,800,000 including fees for committee work (preceding year: SEK 1,900,000) and shall be paid out to the directors and committee members in the following amounts:
SEK 300,000 for each non-executive director and SEK 600,000 for the Chairman of the Board, provided that he is not an employee of the Company;
SEK 50,000 for each non-executive director serving as a member of the Remuneration Committee, and SEK 100,000 for the Remuneration Committee chair, provided that he or she is not an employee of the Company; and
SEK 50,000 for each member of the Audit Committee and SEK 100,000 for the Audit Committee chair.
In addition, it was resolved that the auditor’s fees shall be paid in accordance with approved invoices.
Anna Frick and Fredrik Rüdén were re-elected as directors on the Board. Hélène Westholm, Mathias Hallberg, Carl Larsson, Per Norman och Torsten Söderberg were elected as a new directors. Per Norman was elected as Chairman of the Board. Robin Ramm-Ericson, Mårten Forste and Tuva Palm declined re-election.
PricewaterhouseCoopers AB was re-elected as the Company’s auditor. PricewaterhouseCoopers AB has announced that Authorised Public Accountant Aleksander Lyckow will continue as auditor-in-charge.
PRINCIPLES FOR APPOINTMENT OF THE NOMINATION COMMITTEE
The AGM resolved to adopt principles for appointment of the Nomination Committee in accordance with the Nomination Committee’s proposal (unchanged principles from the preceding year in all essential respects).
GUIDELINES FOR REMUNERATION OF SENIOR EXECUTIVES
The AGM resolved in accordance with the Board’s proposal to adopt guidelines for remuneration of senior executives.
WARRANT BASED INCENTIVE PROGRAM FOR EXECUTIVE MANAGEMENT AND KEY INDIVIDUALS
The AGM resolved, in accordance with the board of directors’ proposal, to issue a maximum of 1,000,000 warrants, with deviation from the shareholders preferential rights, which may result in a maximum increase in the Company’s share capital of approximately EUR 12,000. The warrants shall entitle to subscription of new shares in the Company.
The warrants shall be subscribed for by the subsidiary Gears of Leo AB, with the right and obligation to, at one or several occasions, transfer the warrants to a maximum of 50 selected members of the management team, senior executives and key employees, at a price that is not less than the fair market value of the warrant according to the Black & Scholes valuation model and otherwise on the same terms as in the issuance.
The subscription price per share shall be determined to 130 percent of the volume weighted average price for the Company’s share on Nasdaq Stockholm during the period of five trading days starting with the day following 12 May 2020.
The warrants may be exercised for subscription of shares during the period from 1 June 2023 up to and including 30 June 2023.
The maximum dilution effect of the incentive program amounts to a maximum of approximately 1.00 percent of the total number of shares and votes in the Company, assuming full subscription, acquisition and exercise of all offered warrants.
AUTHORIZATION FOR THE BOARD OF DIRECTORS TO DECIDE ON REPURCHASE AND TRANSFER OF OWN SHARES
The AGM resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to decide on purchases of the company’s own shares. Share repurchases may be made only on Nasdaq Stockholm or any other regulated market. The authorization may be exercised on one or more occasions before the 2021 Annual General Meeting. The maximum number of own shares that may be repurchased so that the Company’s holding of shares at any given time does not exceed 10 percent of the total number of shares in the Company. Repurchases of the Company’s own shares on Nasdaq Stockholm may only be made at a price within the range of the highest purchase price and lowest selling price at any given time. Payment for the shares shall be made in cash.
The AGM also resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to to decide on transfers of own shares, with or without deviation from the shareholders’ preferential rights. Transfers may be made on (i) Nasdaq Stockholm or (ii) outside of Nasdaq Stockholm in connection with acquisitions of companies, operations or assets. The authorization may be exercised on one or more occasions before the 2021 Annual General Meeting. The maximum number of shares that may be transferred corresponds to the number of shares held by the Company at the point in time of the Board of Directors’ decision on the transfer. Transfers of shares on Nasdaq Stockholm may only be made at a price within the range of the highest purchase price and lowest selling price at any given time. For transfers outside of Nasdaq Stockholm, the price shall be set so that the transfer is made at market terms. Payment for transferred shares may be made in cash, through in-kind payment, or through set-off against claims with the Company.
The purpose of the authorizations is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the Company’s capital structure and thereby create further shareholder value and take advantage of any attractive acquisition opportunities.
AUTHORIZATION FOR THE BOARD OF DIRECTORS TO DECIDE ON NEW ISSUE OF SHARES
The AGM resolved, in accordance with the Board’s proposal, to authorize the Board of Directors, on one or more occasions, during the time up until the next Annual General Meeting, to decide to increase the Company’s share capital through a new issue of shares to such extent that it corresponds to a dilution of a maximum of 10% of the number of shares outstanding at the time of the Annual General Meeting calculated after full exercise of the issue authorization now proposed. A new issue of shares may be carried out with or without deviation from the shareholders’ preferential rights. Shares issued with deviation from the shareholders’ preferential rights shall be issued at market terms. The Board of Directors shall have the right to decide on other terms for the issue. Payment may be made against cash payment, in-kind payment for through set-off against claims with the Company.
The purpose of the authorization is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the Company’s capital structure and thereby create further shareholder value and take advantage of any attractive acquisition opportunities.
For detailed terms regarding the above-described resolutions at the AGM, please refer to the complete proposals, which are available on the Company’s website: www.leovegasgroup.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: Announcement from LeoVegas 2020 Annual General Meeting
Latest News
Kiosk Manufacturer Says Long-Term Hardware Strategy with ASUS Softened Impact of Chip Shortages and Tariff Volatility
Reading Time: 2 minutes
KT Group today revealed how a long-term decision to standardise its kiosk computing platform on ASUS Industrial Solutions helped the company avoid the worst effects of global manufacturing instability over the past several years.
As supply chains across the world struggled with chipset shortages, fluctuating tariffs, and unpredictable component lifecycles, KT Group says its 15-year partnership with ASUS provided rare continuity in a volatile market – enabling the company to maintain production, stabilize costs, and support global betting operators without disruption.
Planning for Stability Before Instability Hit
KT Group first selected ASUS as its computing partner when it expanded into retail betting kiosks in 2012. What began as an engineering-led decision quickly evolved into a strategic advantage.
“Looking back, standardising our platform on ASUS started as a technical choice, but quickly became a business resilience decision,” said Kenneth Larsen, CEO at KT Group. “When the rest of the industry was scrambling for components, we were able to stay consistent, predictable, and ahead of demand.”
During the height of global shortages, KT Group maintained uninterrupted production of its Whizz Betting Kiosks, now deployed across major operators worldwide.
According to KT Group, the long-term benefits weren’t only operational. The company reports measurable improvements after standardising on ASUS, including reduced failure rates, fewer thermal-related issues, and lower total cost of ownership for operators. “Our stability has given us supply confidence at a time when many businesses have none.”
Why the ASUS Partnership Made a Difference
KT Group attributes its stability during volatile periods to several key factors embedded in ASUS’ industrial offering:
- Long-term product availability that prevented forced redesigns when other vendors faced abrupt EOL cycles
- Global manufacturing scale that provided insulation against chipset scarcity
- Predictable procurement pricing, helping KT Group absorb global tariff swings
- Consistent BIOS and component stability, allowing multiple kiosk models to run on a unified computing platform
- Worldwide support and RMA coverage, reducing downtime for operators across regions
Larsen explains: “These factors enabled us to keep delivering new kiosks and servicing existing deployments, while competitors faced delays lasting months.”
Building on a Foundation of Continuity
KT Group says its partnership with ASUS will remain a central part of its roadmap as the company expands its kiosk footprint across Europe, Africa, the US, and Asia.
“The past few years proved how vital long-term thinking is,” said Larsen. “ASUS has become a strategic partner, not just a supplier – and that stability has directly supported our ability to scale.”
The post Kiosk Manufacturer Says Long-Term Hardware Strategy with ASUS Softened Impact of Chip Shortages and Tariff Volatility appeared first on European Gaming Industry News.
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Hyperlocal vs. Global: Is the Future of iGaming in Deep-Market Strategy?
Reading Time: 3 minutes
Itai Zak, Executive Director of iGaming at Digicode and former CEO of SBTech, the tier-one sportsbook and technology provider acquired by DraftKings in 2019, also serves as CEO of Gemstone Interactive, a boutique solutions partner for iGaming operators. A veteran executive and long-time advocate of player-first innovation, he offers a sharp look into the future of iGaming. With a history of guiding major brands through expansion and transformation, Zak is not someone who follows trends for the sake of activity. In his view, the real battleground for long-term growth is not how many markets an operator enters but how deeply they engage in the ones they already serve. His question to operators is direct and strategic: Where are you truly winning, and why?
Let’s explore the deep-market strategy powering sustainable growth, blending financial realism, adaptive tech, and real-time personalization into a focused vision that favors precision over presence.
Why Global-First Is Losing Ground
Just a few years ago, a successful operator was often defined by their geographic footprint. Launching in multiple regions created the illusion of momentum. But today, market saturation, regulatory fragmentation, and rising player expectations are exposing the limitations of this model.
Itai Zak explains that, “Europe was once a centralized opportunity. Today, it’s ten different countries with ten different frameworks.” From a compliance and cost perspective, this has created operational bottlenecks. Each jurisdiction now requires bespoke workflows, regulatory reporting, responsible gaming oversight, and even tailored user experiences.
Worse, players have evolved. A “universal” interface or product no longer works across markets. In emerging territories such as Brazil and India, success depends heavily on how well an operator adapts to cultural preferences, local payment systems, and region-specific content.
The Rise of Deep-Market Strategy
What we’re witnessing is a strategic shift from volume-based growth to depth-based dominance. There are 4 main drivers behind this pivot:
1. Fragmented Regulation Requires Granular Commitment
The days of a single gaming license acting as a passport are over. Today, compliance is not just about legality; it’s about infrastructure. Operators must build and maintain localized compliance engines to keep up with rapidly evolving standards. “What works in Sweden will likely fail in the Netherlands. Operators need dedicated regulatory teams per region.”
2. Player Experience Is Hyperlocal by Default
Consumer expectations are shaped by local context. Nordic players prefer richer desktop UIs and immersive casino features. In contrast, Indian players expect mobile-first simplicity and local payment flows like UPI. LATAM regions are seeing explosive growth, but only for operators who integrate payment rails like PIX and deliver Spanish/Portuguese-tailored content.
Uniformity no longer means scalability; it means irrelevance.
3. Efficiency Beats Vanity Expansion
There’s a growing recognition that it’s better to be exceptional in one market than average in many. Deep-market strategy prioritizes:
- Higher Lifetime Value (LTV)
- Increased retention
- Lower Customer Acquisition Cost (CAC)
- Improved regulatory predictability
4. Retention Is the New Growth Lever
Global growth might bring short-term user acquisition, but retention requires local trust, familiarity, and relevance. The deeper your market understanding, the more likely you are to convert players into loyal customers.
Is Global Expansion Dead?
Not quite. What’s emerging is a hybrid model – global infrastructure combined with hyperlocal execution.
Basically, this dual-layered approach is “a shared chassis with localized controls.” Operators need scalable back-end platforms – compliance engines, CRM systems, bonus engines, but allow for front-end freedom. Local marketing, payment, and content teams execute based on what actually works on the ground.
In practice, this means:
- Platform consistency at the core (RGS, risk, KYC, CRM)
- Market-specific UX/UI, payment flows, and offers
- Country-level dashboards to monitor local KPIs
- Flexible brand architecture to launch sub-brands per market
Knowing When to Deepen vs. Expand
There is a straightforward framework to determine whether it’s time to grow outward or dig deeper:
Expand if:
- You’ve fully optimized LTV in your current markets
- Your infrastructure can absorb additional regulatory complexity
- You have access to local partners or brands in the new region
Deepen if:
- Your retention or conversion metrics are below industry benchmarks
- There’s untapped potential in localized features or payment integrations
- Local competitors are outperforming despite a smaller reach
This lens helps operators avoid reactive expansion and instead invest where sustainable growth is most likely.
The Digicode Approach: Local Autonomy, Central Control
At Digicode, we’ve seen this shift firsthand. The operator clients are no longer asking for “just another multilingual skin.” They’re asking for:
- Modular platforms that can launch and manage multiple brands with independent rulesets
- Configurable compliance per market
- Local bonus engines that adapt to regulatory constraints
- Player lifecycle tools tuned for cultural buying behavior
What powers this? Our ability to separate back-end scalability from front-end customization, giving operators speed, control, and precision as they go deeper into high-performing markets.
Final Thought: Strategy Is Local
The market is maturing. The future of iGaming isn’t about being everywhere, but being someone to someone in specific markets. The brands that win long-term will be those that go deeper than their competitors are willing to, speak to players with cultural fluency, and build infrastructure that adapts intelligently.
Itai Zak put it simply: “Don’t ask how many countries you’re in. Ask where you’re winning and why.”
If local precision is your next competitive edge, Digicode’s experts can help you deliver it without losing control of the big picture.
The post Hyperlocal vs. Global: Is the Future of iGaming in Deep-Market Strategy? appeared first on European Gaming Industry News.
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Inside Black Cow’s Decision To Go All In On Multiplayer
Reading Time: 3 minutes
Black Cow Technology Founder and CEO, Max Francis, on why the company has shifted focus from software development to game development, and why he believes multiplayer is the future of online gambling entertainment
Black Cow has just announced its transition into a multiplayer content provider. What made you refocus the business in such a way?
We truly believe that multiplayer is the future of online gambling entertainment, and with our own technology capable of building next-gen multiplayer experiences, we wanted to transition into a content-led business and release some innovative games of our own. Our Multiplayer RGS is especially powerful, allowing operators and suppliers to bring multiplayer gameplay to any game format, even including non-gambling events. Black Cow’s robust, reliable and highly flexible technology is already used by some of the biggest organisations in the industry, including the likes of DraftKings and Light & Wonder. The shift into creating our own multiplayer content enables us to build on our successful Remote Game Server (RGS) and Jackpot Server technology to create first-of-its kind games offering unique player experiences via our Multiplayer RGS platform.
Tell us more about your Multiplayer RGS and its capabilities. What sets it apart from similar solutions in the market?
Our Multiplayer RGS has been several years in the making and is already live with Light & Wonder. Our Multiplayer RGS can be used to create multiplayer experiences across anything from slots and table games to crash, plinko, lottery, live dealer and bingo. Games can be player-cooperative or player versus player. The system’s capabilities are really only limited by the imagination of the people using it, and that’s why we’re so excited to be moving into the realm of game development so that we can push its limits to disrupt online casino lobbies with Black Cow content.
Taking a business in a new direction is a significant undertaking, not without its risks. How have you approached this transition?
It was clear to me that we had the technology to create multiplayer content, but not necessarily the experience to date, and that’s why we’ve been making strategic hires. This year we have promoted Paul Jefferson to the role of Chief Technical Officer and we have welcomed two more big-hitters to the business – Ernie Lafky as Chief Product Officer and Shelley Hannah as Chief Operations Officer. Ernie is taking the lead when it comes to what our games will look like and how we combine key elements like multiplayer, gamification and social interaction. Shelley is managing the operational aspects of our transition to a hosted product-first model. In terms of mitigating the risk, it comes down to the deep rooted confidence we have in our technology and our fantastic team, plus our belief that players are seeking social multiplayer entertainment.
Why do you have such a firm belief that multiplayer content is the future? And to what extent will it dominate online casino game lobbies?
It’s not the future, it’s the now. You just have to look at the experiences offered by other online entertainment options to see that they are becoming increasingly multiplayer and social. From dating to streaming, social media to mobile gaming, consumers want to engage with products and experiences that can be enjoyed with others. But online casino and sports betting sit at odds with this as they have been, and remain, mostly solitary experiences. We have started to see a bit of a shift away from this, first with live casino and then the rise of the crash game format. But this is just the start of what multiplayer online gambling entertainment can look like, and at Black Cow we have the vision, people and technology to really spearhead the multiplayer movement and be a true leader in the space.
As for the degree to which multiplayer content will dominate online casino and sportsbook lobbies, I think it has the potential to be significant but there will always be players that want to engage with more traditional games, products and experiences, so it will be down to each operator as to how they promote multiplayer games. Naturally, this approach will differ from brand to brand based on their specific player-base.
What can we expect from Black Cow now that your transition into a multiplayer game developer is well underway?
Paul, Ernie, Shelley and the team are working hard on our initial product roadmap, including the first run of games that will leave our production line. This is a really exciting moment for me and the whole team, as it will bring our vision to life and set the blueprint for what our multiplayer games will look like moving forward. It goes without saying that our multiplayer games will embody the core values we have built Black Cow on – reliability, flexibility and robustness. This is a big change for Black Cow, and change does bring challenges. But we are all aligned and excited by the new direction. Success is never guaranteed, but we are walking into the next chapter of the Black Cow story confident that it will be our best yet.
The post Inside Black Cow’s Decision To Go All In On Multiplayer appeared first on European Gaming Industry News.
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