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LeoVegas AB Q4: Quarterly report 1 October–31 December 2021

Published

2 years ago

February 11, 2022

George Miller

Reading Time: 4 minutes

“Strong end to the year with many growth initiatives” – Gustaf Hagman, Group CEO

FOURTH QUARTER 2021: 1 OCTOBER – 31 DECEMBER

Revenue amounted to EUR 98.2 m (98.4). Revenues were unchanged compared with the same period last year. Excluding Germany and the Netherlands, revenues increased by 26%.
Organic growth in local currencies was -4%.
Net Gaming Revenue (NGR) from regulated markets and markets in which the company pays local gaming taxes was 74% (67) of total NGR.
EBITDA was EUR 11.6 m (11.5), corresponding to an EBITDA margin of 11.8% (11.7).
The number of depositing customers was 456,063 (461,983), a decrease of 1%.
Adjusted earnings per share were EUR 0.07 (0.08).

EVENTS DURING THE QUARTER

LeoVegas repurchased shares for EUR 2.1 m and distributed the third quarter dividend (EUR 3.9 m).
Following policy changes in the Netherlands, LeoVegas decided to stop providing its services in the country as from 30 September 2021. As such, the company had no revenue from the Netherlands in the fourth quarter (compared with 6% of the Group’s total revenue during the third quarter). The company will apply for a licence during the first quarter.
LeoVegas was granted renewed gaming licences by the Danish Gambling Authority.

EVENTS AFTER THE END OF THE QUARTER

Preliminary revenue in January amounted to EUR 35.5 m (32.5), corresponding to growth of 9%. Excluding Germany and the Netherlands, revenue increased by 24%.
The Board of Directors proposes an increased dividend of 5 percent to SEK 1.68 per share (1.60), to be distributed on four occasions over the course of the next 12 months.
LeoVegas applied for a gaming licence for the Canadian province of Ontario.
The establishment in New Jersey in the US is proceeding according to plan and the recruitment of a local team has begun.
In January, LeoVegas distributed the fourth dividend (EUR 3.8 m) of a total of four to the Parent Company’s shareholders.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

FOURTH QUARTER
I am proud of how we concluded 2021 and how we offset the revenue loss related to the ongoing regulatory changes in Germany and the Netherlands. In the fourth quarter, sales were unchanged compared with the preceding year. However, excluding the two abovementioned markets, growth was some 26%, which demonstrates our strong underlying growth.

Adjusted EBITDA improved somewhat year-on-year, despite ceasing to provide our services in the Netherlands while waiting for a gaming licence, which was previously one of our most profitable markets. At the same time, we have paid more gaming taxes than ever before during the quarter. The improved profit was achieved through good cost control and higher marketing efficiency.

During the quarter and the full-year 2021, we took several important steps as a company, which we expect to drive growth for many years to come. We increased our strategic focus on sport with the acquisition of the brand Expekt. The new launch of Expekt has been a major success, with sales increasing almost fourfold since the acquisition. We are now planning to expand into more markets. We have also commenced establishing operations in the US, where the online gaming market is still in its infancy. We are seeing significant potential for a smartphone-oriented casino expert like LeoVegas in North America, where we already hold a leading position in Canada. We also invested in our own gaming studio during the year. The first games are expected to be launched shortly and over 15 titles are planned for 2022. Our own contents provide us with a more unique gaming experience, greater customer loyalty and lower costs.

We demonstrate a high ability to adapt and continue to drive innovation even when faced with turbulent times. An increasing number of European countries are becoming regulated and some 74% of our revenue is currently regulated and/or taxed. The external market environment will remain erratic and turbulent in places, but we are well-positioned to manage this. Armed with all of our ongoing growth initiatives, I feel optimistic ahead of 2022.

MARKETS
Our underlying customer activity and growth remain favourable. In general, we are growing faster than our competitors in the markets that are not affected by major external events and where equal conditions apply for all operators. A good example of this is Sweden, where we reached a new record level during the quarter. LeoVegas is currently the largest private operator in the Swedish market, something we have accomplished with strong brands, the best product and data-driven marketing. We continue to see favourable growth prospects in Sweden.

As previously mentioned, a re-regulation period is ongoing in the Netherlands and in the Canadian province of Ontario. In the Netherlands, we decided to stop providing services to gamers from 30 September 2021 pursuant to the latest regulations. At the start of 2022, we have applied for licenses in the Netherlands and Ontario we applied for a license in Ontario and will apply for a license in the Netherlands during the first quarter. Our ongoing expansion in the US, with New Jersey as the first state, is proceeding according to plan. We have commenced recruitment of a local team and completed much of the technical development as well as initiated the certification process of LeoVegas’ proprietary technical platform (PAM, Player Account Management). We also began efforts for the expansion into additional US states.

TEN YEARS
At the beginning of 2022, LeoVegas turned ten years old. The company, our product and the entire industry has developed enormously since my co-founder, Robin Ramm-Ericson, and I, started LeoVegas. Today, the industry is much more complex with more stringent requirements and tougher competition. At the same time, LeoVegas has taken tremendous strides and matured in many areas, making us stronger than ever before. We always aim to be at the forefront of customer focus, technology and data-driveness, but also continue to continually challenge ourselves to be better in all areas. I can affirm that LeoVegas with all its employees will continue to drive the industry forward with the mobile gaming experience in the spotlight. We are continually making progress as we stand on the starting line of ten more intense and exciting years!

Latest News

BLAST expands into Dota 2 with five events set to be rolled out in 2024/25

Published

1 hour ago

May 8, 2024

George Miller

Reading Time: 2 minutes

BLAST expands into Dota 2 with five events set to be rolled out in 2024/25

BLAST to start hosting regular Dota 2 tournaments in 2024/25
First studio event to take place in November 2024
BLAST.tv will become new home of Dota 2 esports, platform will allow fans to tailor their viewing experience, get closer to the action and impact the entertainment unfolding before their eyes

Esports entertainment company BLAST has revealed plans to enter Dota 2 with a full schedule of events to be rolled out in 2024/25. BLAST will become the new home of Dota 2 esports through arranging a tournament series focused on unparalleled production quality and game changing fan-first moments.

The tournament organiser will host a first Dota 2 studio event in November, ahead of four events taking place in 2025. The full extent of the new Dota 2 tournament series will be revealed in the summer, where further information on format, prize pool and locations will be shared.

Andrew Haworth, VP of Ecosystems, Valve & Riot Games, said: “We are delighted to be entering Dota 2 and have plans for BLAST to bring a new level of production and excitement that Dota fans haven’t seen before. It’s a game we love as fans and players, we’ve been following closely as an interested tournament organiser for the last few years. As we’ve grown as a business and expand into further titles, Dota has always been on our wish list.

With the recent changes to the Dota ecosystem we feel it’s the perfect opportunity for BLAST to come in, provide the community with the next level of tournaments and become the new home of Dota 2.

“BLAST prides itself on unparalleled production quality and game changing fan-first moments while bringing together the very best teams and biggest superstars to fight it out for glory on the server. We look forward to bringing this approach to the world of Dota 2 and providing fans with the best esports entertainment on offer.”

This strategic move marks a significant expansion of BLAST’s tournament portfolio, further diversifying its offerings beyond its successful ventures in Fortnite (FNCS), Rocket League (RLCS), Counter-Strike, and Rainbow Six Siege.

BLAST.tv, a custom made esports live viewing platform, will add Dota 2 to its offering meaning fans will be able to enjoy a tailor made competitive esports viewing experience and platform. Fans will never miss a key moment of the action with the BLAST.tv interactive timeline feature, which catalogues standout highlights to be replayed instantly on the playback timeline.

The platform has a custom built video player with 4K capabilities and a moderated live chat feature that will enable fans to connect with a like-minded community, where fans will be able to impact the events unfolding before their eyes through interactive polls.

Outside of the live experience, BLAST.tv will be a one-stop-shop for Dota 2 esports fans. Providing them with the latest player stats, team standings, mini-games, news and exclusive content and experiences.

The post BLAST expands into Dota 2 with five events set to be rolled out in 2024/25 appeared first on European Gaming Industry News.

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Emma Shilling Receives Visionary Compliance Leader Award in the 2024 Women in Leadership Awards

Published

1 hour ago

May 8, 2024

George Miller

Reading Time: 2 minutes

SolutionsHub’s Head of Compliance, Emma Shilling, has been recognised at the 2024 Women in Leadership Awards, winning the prestigious Visionary Compliance Leader Award. This recognition celebrates her outstanding contributions, innovation, and unwavering commitment to excellence within the compliance landscape.

The 2024 Women in Leadership Awards celebrate excellence in leadership by meticulously evaluating outstanding individuals and organisations. Through a rigorous selection process based on comprehensive standards, these awards recognise impactful contributions.

This award is a testament to Emma’s remarkable achievements and her leadership excellence, specifically in eGaming compliance. As a compliance leader, she has consistently demonstrated visionary thinking, dedication to sustainability, and a passion for responsible gambling practices within the online gambling industry.

SolutionsHub Director Nick Wright, said “We are very proud of Emma. Her strategic vision, dedication to pragmatic and ethical compliance, and pursuit of excellence underscores our commitment to fostering a culture of compliance and innovation.

“This award reinforces Emma’s reputation as a compliance leader and enhances her credibility within our industry and beyond.”

In response to receiving this award Emma said “I would like to thank those that nominated me and the judges for this honor. To be recognised with this award is immensely satisfying for me personally and a testiment to our teams collective commitment to innovation while furthering responsible gambling practices and maintaining the highest standards of compliance.”

SolutionsHub, a leading compliance consultancy, specialises in tailoring comprehensive solutions for Isle of Man-licensed eGaming businesses. With a seasoned team of industry veterans and former regulators at the helm, SolutionsHub ensures that businesses maintain the highest standards of integrity, transparency, and regulatory compliance in the often challenging online gambling sector.

Emma Shilling is Head of Compliance at SolutionsHub, where she leads the compliance team in delivering bespoke compliance solutions for Isle of Man licensed eGaming businesses.

Note: The Women in Leadership Awards are organized by EMG Publishing Group and recognise exceptional female leaders across various sectors.

The post Emma Shilling Receives Visionary Compliance Leader Award in the 2024 Women in Leadership Awards appeared first on European Gaming Industry News.

Latest News

ESL FACEIT Group Partners with s1mple for Launch of Play Like s1mple Project

Published

1 hour ago

May 8, 2024

George Miller

Reading Time: 2 minutes

The Legendary Counter-Strike Star’s Educational Program Will Offer 60+ Tutorials and Exclusive FACEIT Features To Help Players Up Their Game.

ESL FACEIT Group (EFG), the leading esports and video game entertainment company, and renowned Counter-Strike player Oleksandr “s1mple” Kostyliev today announced a partnership with Play Like s1mple Project – an educational video series designed to change how players approach mastering Counter-Strike 2.

The program will include more than 60 interactive sessions, with a focus on in-game skill development and strategy as well as out-of-game topics such as career advancement. The program aims to empower gamers of all levels to unlock their full potential in Counter-Strike 2.

“We’re thrilled to launch the Play Like s1mple Project and provide gamers with a unique opportunity to learn from one of the best in the business,” said s1mple. “Whether you’re a casual player looking to improve your skills, better understand the game, and achieve a champion mindset or a great pro aiming to take your game to the next level, this program has something for everyone. I wish someone could have shared these skills with me when I just started my journey in CS.”

Play Like s1mple Project will bring the comprehensive educational program to the global gaming audience in partnership with FACEIT, the leading community platform for online PvP play. FACEIT has been the home of competitive Counter-Strike for more than a decade and will now offer a suite of educational programming that supports the in-game learning experience it offers for casual players and aspiring pros alike. Through this collaboration, Play Like s1mple Project participants will gain exclusive access to FACEIT’s premium features and exclusive on-platform content.

“s1mple’s success, longevity in Counter-Strike and legacy with FACEIT, makes him uniquely qualified to help our global community learn and master their game at the highest level of competition. ” said Fabio Floris, President, Digital Platforms, ESL FACEIT Group. “Viewers will not only pick up the intricacies of top-tier CS, but also insights on what it takes to break into the industry in other ways, including as caster, talent manager, and more.”

Key features of the Play Like s1mple Project include:

Unmatched Talent: s1mple, possibly the greatest player in Counter-Strike history, will share his expertise and practical knowledge.
Legendary Experience: Comparable to legends like Jordan or Messi, s1mple will share secrets and best practices developed over more than a decade of play.
Career Development Resources: Gain insights into the esports industry and learn how to turn your passion for gaming into a successful career with guidance from industry experts.

FACEIT Community Support:

Join a community of gamers and CS enthusiasts.
Get tips and strategies directly from s1mple
Connect with like-minded individuals worldwide.

Exclusive Content and Competitions:

Access premium content.
Participate in tournaments for the community.
Have personal communication with s1mple and other top players, providing unparalleled insights into the world of professional gaming.

Registration for the Play Like s1mple Project will open May13 with limited spots available. Visit playlikes1mple.com for more information, and follow All Stars Promo on Twitter or Instagram. For more information on the FACEIT platform, check out eslfaceitgroup.com and follow EFG on LinkedIn.

The post ESL FACEIT Group Partners with s1mple for Launch of Play Like s1mple Project appeared first on European Gaming Industry News.