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LeoVegas AB Q3: Quarterly report 1 July– 30 September 2020

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LeoVegas AB Q3: Quarterly report 1 July- 30 September 2020
LeoVegas AB Q3: Quarterly report 1 July- 30 September 2020Reading Time: 4 minutes

 

THIRD QUARTER 2020: 1 julY–30 september

  • Revenue increased by 1% to EUR 88.9 m (88.2). Organic growth in local currencies was 2%.
  • EBITDA was EUR 11.9 m (12.7), corresponding to an EBITDA margin of 13.4% (14.4%).
  • The number of depositing customers was 438,691 (347,464), an increase of 26%.
  • Earnings per share were EUR 0.04 (0.05) before and after dilution, while adjusted earnings per share were EUR 0.08 (0.09).

Events during the quarter

  • GoGoCasino and Livecasino.com launched in Finland. An international launch of both brands is in progress.
  • Operations in Sweden have been affected by the temporary restrictions that were introduced on 2 July as a result of Covid-19
  • LeoVegas increased its ownership in the e-sports betting operator Pixel.bet to 85% from 51% previously.
  • Operating profit for the quarter includes costs of EUR 0.5 m in organisational streamlining and optimisation measures. Yearly net savings from these measures is expected to total EUR 1.5 m starting next year.

Events after the end of the quarter

  • Preliminary revenue in October amounted to EUR 33.0 m (26.0), representing growth of 27%.
  • Royal Panda has relaunched in Finland on the Group’s proprietary technical platform.
  • LeoVegas has launched Bingo as new product category.
  • Ahead of the forthcoming regulation of the German market, effective 15 October a number of changes have been made that affect the customer offering. This had a slight negative impact on revenue in October. LeoVegas expects to receive nationwide licences for the German market once they are available.

 

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

THIRD QUARTER 2020
Once again, we have shown our ability to quickly adapt to new, external circumstances, such as those related to the continuing pandemic and the constant regulatory changes in our various markets. During the third quarter we maintained a high pace of innovation and investment, which is strengthening our long-term position and growth prospects.

During the quarter our customer base again reached a new record level. The number of depositing customers grew 26% compared with the same period a year ago, which confirms the strong development of our business. This is partly attributable to the ongoing structural shift from land-based gaming to online, but above all to our focus on creating the best product and experience for our customers. We continue to optimise scalability and reduce complexity in the organisation. During the quarter, among other measures we realised synergies from previous acquisitions and instituted a clearer organisational and Group structure. This has led to a slight level of staff redundancy, and operating profit was charged with EUR 0.5 m for measures coupled to this. At the same time, we estimate that yearly net savings from these measures will amount to roughly EUR 1.5 m starting with next year. Our efficiency improvement work equips us for continued profitable growth and makes us – combined with greater diversification of the revenue base – more resilient to rapid fluctuations in individual markets.

MARKETS
We had a favourable development in most of our markets during the quarter, with our growing customer base as the main driver. Many markets had double-digit growth compared with the same period a year ago.

In Sweden we are seeing a troubling development in which the unlicensed market continues to grow unhindered. A growing number of operators without licences are actively targeting Swedish players, including those who have been barred by the self-exclusion tool Spelpaus. This has been confirmed by, among others, several organisations that provide help to people with a gambling problem. These organisations have noted that the majority of those seeking help are playing with the unlicensed operators. The problem is big and is shaking the foundation of the entire Swedish licence system. Quick and strong measures are now needed by Swedish politicians and authorities to ensure a well-functioning Swedish gaming market.

In Germany the federal states have agreed to introduce a licence system for gaming, which is expected to be implemented during the second half of 2021. We are looking forward with confidence to Europe’s largest market finally being regulated. Ahead of implementation of the licence system, it is expected that operators will carry out certain limitations in their respective customer offerings in advance. LeoVegas has already begun implementing such limitations, which will initially have a negative impact on revenue. Details on regulation of the German market are provided in the Legal update section in this report. LeoVegas today has a licence in the German state of Schleswig-Holstein and expects to receive nationwide licences once they are available. Germany generated approximately 17% of the Group’s total revenue during the third quarter.

technology and products
The quarter was intense for our technology and product organisation, with the completion of a number of major projects. For example, we implemented the German regulatory requirements on short notice and launched the GoGoCasino and Royal Panda brands in Finland on our proprietary platform. We also are seeing higher demand for broader entertainment games among our players and therefore recently launched our Bingo product.

comments on fourth quarter
Preliminary revenue for the month of October amounted to EUR 33.0 m (26.0), corresponding to annual growth of 27%. The changes introduced in the German market on 15 October have had a slightly negative impact on revenue.

With a positive start to the fourth quarter, a record-large customer base and many exciting initiatives I am looking forward to a strong end to the full year.

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: 2874453 or join at the web https://edge.media-server.com/mmc/p/budae7ar


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 Q3: Quarterly report 1 July– 30 September 2020

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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Chicken Road Game Launches in India, Expands Mobile Gaming Catalogue

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A new mobile title, the Chicken Road Game, has officially been introduced to Indian users across select digital distribution platforms. The release adds to the expanding catalogue of hyper-casual games now available to India’s mobile-first audience.

Designed for short-session, tap-based gameplay, the Chicken Road Game offers a format compatible with a wide range of Android smartphones, including entry-level devices. The title is accessible through official Android channels and also available in offline formats via Chicken Road Game Download APK packages.

Game Structure and Distribution

The Chicken Road Game features procedural obstacle layouts where the player’s goal is to advance a character forward while avoiding collisions. Each movement is registered via a tap command, making the gameplay structure consistent with widely used mobile interaction standards.

Multiple builds of the game are currently in circulation, including:

  • Chicken Road 2

  • Chicken Road 2.0

  • Variants titled Chicken Road Game APK and Chicken Road 2 Download

These versions may include functional updates or performance optimizations but maintain the same core format. Distribution models include app marketplaces, third-party game aggregators, and direct APK downloads.

Technical Specifications

According to technical documentation available at launch, the Chicken Road App requires minimal device resources:

  • Low memory footprint (under 35 MB)
  • Offline installation via Chicken Road Game Download APK

  • Compatibility with Android 6.0 and above
  • Optional visual settings for improved performance on budget devices

No iOS version has been confirmed as of this release.

Game Type and Monetization Model

The Chicken Road Game is categorized as a hyper-casual, skill-based arcade game. It is not associated with real-money gaming, gambling mechanics, or skill-based wagering.

Some versions of the game may include optional advertisements, which support monetization. No verified versions of the game currently support real-currency transactions, banking integration, or payment gateway functionality.

No officially released build of the game is designated as a Chicken Road Earning App, and there is no confirmation of payout-based mechanisms in the publicly available versions. Listings such as Chicken Road Game Money or Chicken Road Game Real or Fake remain unverified by the developers.

Market and Audience

The Chicken Road Game is developed for general audiences and requires no account linking or identity verification at the time of launch. While available to all age groups, content classification aligns with standard arcade-style gameplay ratings.

Offline installation options, such as the Chicken Road Game Download APK, are expected to support players in regions with inconsistent internet connectivity. The game’s architecture enables basic functionality without requiring active data usage during gameplay.

Update Schedule

As of this announcement, there is no official development roadmap or update schedule published by the game’s creators. Users accessing versions labeled Chicken Road 2.0 may experience performance or aesthetic differences based on device compatibility and distributor-specific builds.

No multilingual or region-specific versions are confirmed at this time.

Compliance and Security Notes

The game operates entirely within the non-monetized, casual arcade category of mobile apps. It does not offer real-money rewards and has no affiliation with financial institutions, cryptocurrency systems, or tokenized gaming models.

No sensitive user data is requested in default builds of the Chicken Road Game. Users are advised to download only from verified sources and to avoid unofficial versions labeled as earning apps or modified for payout simulation.

Conclusion

The official release of the Chicken Road Game introduces a tap-based arcade title to India’s expanding mobile game portfolio. With low device requirements and broad regional availability through APK-based distribution, the game is positioned to be accessible across a wide user base.

Further developments, including potential updates or version control, remain unconfirmed at the time of this release.

The post Chicken Road Game Launches in India, Expands Mobile Gaming Catalogue appeared first on European Gaming Industry News.

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In-demand provider to take the hotly anticipated show by storm with its battle-tested iGaming ecosystem

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VeliTech is proud to announce its return to the SBC Summit Lisbon 2025, taking place from 16-18 September at Feira Internacional de Lisboa.

Building on last year’s momentum and following a year of significant growth and product milestones, the company is ready to demonstrate its battle-tested iGaming ecosystem for emerging markets.

Taking centre stage is VeliGames, an aggregation powerhouse by VeliTech, now supported by a newly launched dedicated website. Far more than a content library, VeliGames brings together scale, flexibility and engagement tools in one platform. The team is ready to demonstrate its full potential at stand A550, showing how it drives success for iGaming brands worldwide.

Giorgi Aleksidze, CEO at VeliTech, said: “Returning to SBC Lisbon for the second year running, we’re showcasing the depth of our battle-tested iGaming ecosystem in action. VeliGames is more than a content pipeline — it’s a complete growth engine for operators. And when combined with our other products, operators get everything they need to build, launch and scale a successful iGaming business.”

This year’s comeback to SBC Lisbon is marked by extra recognition, as the company is shortlisted in two SBC Awards 2025 categories: Multi-channel Supplier and Aggregator of the Year.

As part of the official agenda, Irakli Kakhidze, Director of Turnkey at VeliTech, will join the panel discussion “A Continent on the Move: Sportsbook Technology in Africa” on 16 September (13:40–14:20, Stage 2: Emerging Markets, Africa).

The session will explore opportunities, infrastructure challenges and the innovation shaping Africa’s sportsbook sector, drawing on the VeliTech experience supporting operators as they expand into new markets.

“Sports betting in Africa follows its own path, driven by cultural fit and player behaviour. Success here requires agility and deep local understanding, not one-size-fits-all solutions,” added Irakli Kakhidze, Director of Turnkey at VeliTech.

For more information, please visit the SBC Summit Lisbon 2025 Event Page or contact the team at [email protected].

The post In-demand provider to take the hotly anticipated show by storm with its battle-tested iGaming ecosystem appeared first on European Gaming Industry News.

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Movers and Shakers: Slots Temple – The Company Advocating for RTP Transparency

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While the online gambling landscape continues to strive for greater player protection and transparency, one area that deserves more attention is the transparency of return-to-player (RTP) rates. At Slots Temple, we are committed to enhancing player trust and providing a fair gaming environment, and we see RTP transparency as a crucial part of that commitment.

By focusing on treating players fairly and offering them the best possible experience, we can foster lasting loyalty that goes beyond fleeting bonuses. This guides our approach to RTP, and we’re actively working to ensure our actions match this, as we have demonstrated with our commitment to always offering the highest available RTP version of a game.

 

Slot Players, First and Foremost

For some, the idea of consistently offering the highest RTPs is not a top priority. For us at Slots Temple, it’s a fundamental principle. As a licensed online casino, we understand that providing value and the best experience to our players is the most sustainable path forward. Prior to becoming a licensed online casino, we operated exclusively as an affiliate website, a role that honed our understanding of what players value from their online casino experience.

Our experiences have taught us that you don’t need to overcomplicate anything; all that most players want is clear information about the games they choose, and an honest and transparent casino they can depend on.

Many online casinos choose to offer a low RTP version of their games. This means that the 96.5% RTP version of Gates of Olympus you love at one casino might not be available at another, and you could end up playing the 94.5% version without realising.

 

A Simple Mission 

Our aim is simple: we want players to be fully aware of the odds they are facing and be empowered to choose games that align with their expectations. So, what are we doing about it?

Firstly, we have made a public commitment to always offering our players the highest RTP version of every game available. This isn’t just a promise; it’s a core operational principle. We also benefit from an engaged community of online players who are quick to provide feedback, helping us maintain this commitment. We actively welcome and value this level of player engagement as a crucial part of our process.

On a broader level, we are actively raising awareness about the importance of RTP transparency within the industry. This includes engaging with industry press and educating players on the issue, championing a more transparent future for online slots.

 

A Promising Future 

As operators, we often emphasise the importance of providing players with the best possible experience, but this area is one that many overlook. While offering lower RTP games might increase profits in the short term, it is a sure-fire way not to keep players around when they realise there are better odds elsewhere.

Our not-so-distant relative, the sports betting industry, sees operators proudly advertising that they offer low odds to punters. They understand that customers want value, and by providing it to them, they will return. This goes both ways, too, with sports bettors often quick to criticise bookmakers who offer poor odds.

We hope to see a future in the online casino world where this applies as well. We will continue to promote our high RTP offerings and fulfil our commitment to our players, and we would love to see other operators do the same.

The post Movers and Shakers: Slots Temple – The Company Advocating for RTP Transparency appeared first on European Gaming Industry News.

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