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LeoVegas AB Q2: Quarterly report 1 April – 30 June 2020
“The strong EBITDA growth clearly illustrates the scalability of our business model”
– Gustaf Hagman, Group CEO
second quarter 2020: 1 april–30 june
- Revenue increased by 17% to EUR 110.7 m (94.4). Organic growth in local currencies was 19%.
- EBITDA was EUR 23.0 million (15.1), corresponding to an EBITDA margin of 20.8% (16.0%) and a growth of 53 %.
- The number of depositing customers was 434,453 (350,298), an increase of 24%.
- Earnings per share were EUR 0.14 (0.08) before and after dilution, while adjusted earnings per share were EUR 0.19 (0.11).
Events during the quarter
- LeoVegas completed the migration of 12 brands in the UK to the Group’s proprietary technical platform.
- The LiveCasino.com brand was launched in a number of English-speaking countries.
- At LeoVegas’ Annual General Meeting on 8 May, Anna Frick and Fredrik Rüdén were re-elected as board members. Hélène Westholm, Mathias Hallberg, Carl Larsson, Per Norman and Torsten Söderberg were elected as new board members. Per Norman was elected as Chairman of the Board.
- The effects related to COVID-19 are judged overall to have had a positive impact on NGR during April and May, however, the effect on revenues in Sweden was negative during the quarter.
Events after the end of the quarter
- Preliminary revenue in July amounted to EUR 30.7 m (29.3), representing growth of 5%. The temporary restrictions introduced in Sweden starting on 2 July have had a negative impact on revenue.
- The number of depositing customers increased by 34% in July compared with the same period a year ago, to a new record level for a single month.
- GoGoCasino was launched in Finland. An international rollout of the brand is now continuing.
- LeoVegas has increased its ownership in the e-sports betting operator Pixel.bet to 85%, from 51% previously.
COMMENT FROM GUSTAF HAGMAN – GROUP CEO
SECOND QUARTER 2020
LeoVegas has delivered continued solid growth and profitability during a period of exceptional circumstances in the world around us. Supported by the record-large customer base that we entered the quarter with, together with our ability to quickly adapt to new conditions, the positive trend from the first quarter is continuing.
Revenue during the second quarter amounted to EUR 110.7 m (94.4), representing organic growth of 19%. Net Gaming Revenue (NGR) for casino grew 24% during the period, while for sports betting it decreased by 53% compared with the same period a year ago.
EBITDA amounted to EUR 23.0 m (15.1), corresponding to a margin of 20.8% (16.0%). We thus grew EBITDA by 53%, which shows the scalability in our business model from higher revenue. The sharply improved operating profit has been achieved despite a continued high pace of expansion and increased investments in technology and products.
covid-19
I am very satisfied with how we at LeoVegas are handling the COVID-19 situation so that we can conduct our business without noticeable disruptions, despite challenges such as not being able to meet in our daily work. Our industry, like many other sectors, is experiencing a structural shift from offline to online. Owing to LeoVegas’ online position, appreciated brands and proprietary technical platform, we stand strong in an increasingly digital world.
Markets
We had favourable development in most of our markets during the second quarter. Growth has been driven primarily by a record-large depositing customer base, which grew 24% compared with a year ago. The Rest of Europe region experienced exceptionally high growth, with Italy posting record-strong performance. The effects related to COVID-19 are judged overall to have had a positive impact on NGR during April and May, mainly in the markets that were entirely shut down during the period. In these markets, LeoVegas has taken market shares from the land-based gambling industry. However, the effect on revenue related to COVID-19 is judged to have been negative in Sweden during the quarter.
responsible gaming
During the quarter, several countries implemented measures to reduce the risk for problem gaming in connection with COVID-19. Spain, for example, introduced a temporary ban on gambling advertising. On top of these restrictions, LeoVegas has chosen to implement its own proactive measures to strengthen player protection. Most of the temporary restrictions throughout Europe ended in June, and Spain and the UK, among other countries, have reverted to normal regulations once their respective societies opened up again.
It is therefore remarkable that Sweden, despite massive criticism from most areas, has moved in the opposite direction and introduced new, temporary restrictions, effective 2 July, focused particularly on online casino. There is a large risk that these restrictions, implemented entirely without supporting factual data, are undermining the Swedish regulation system and driving players to companies without Swedish licences, where player protection is non-existent. These restrictions therefore risk being counter-productive and instead contribute to an increase in problem gaming in Sweden.
The independent research consultancy Copenhagen Economics has noted that one consequence of the new restrictions is that the unregulated market for online casino may increase to as much as 50%, which is far from the authorities’ stated goal to limit the unregulated market to 10% at most.
We advocate for balanced and clear regulations for achieving long-term sustainable licensing systems. LeoVegas wants to contribute to this through a broader dialogue and collaboration with the authorities in the countries we are active in.
MULTIBRAND STRATEGY
During the quarter we launched the new LiveCasino.com brand in a number of English-speaking countries. We see great potential for the brand. The start has been promising, and additional markets are to be expected.
Following the successful launch of GoGoCasino in Sweden last year, an international rollout of the brand is now under way. Finland was the second market to launch, at the start of July.
The successful launches of new brands are in line with the company’s multibrand strategy and show our ability to create new revenue streams while at the same time drawing benefit from the Group’s economies of scale.
comments on third quarter
Revenue for the month of July amounted to EUR 30.7 m (29.3), representing a growth rate of 5%.
Our assessment is that the gaming market has returned to a more normal environment in July, with a natural player shift from casino back to sports betting now that the major sports leagues have restarted. At the same time, the temporary restrictions introduced in Sweden starting on 2 July are having a negative impact on revenue.
The positive trend in our customer base is continuing into the third quarter, and the number of depositing customers increased by 34% in July compared with the same period a year ago, to a new record level for a single month. We will maintain a continued high rate of investment during the third quarter, partly linked to the launch of new brands and market establishments. Our current assessment is therefore that marketing costs will be in line with – or slightly higher than – the level during the second quarter.
We continue to focus on delivering sustainable and profitable growth for our shareholders and on offering an entertaining and safe gaming experience for our customers around the world. LeoVegas’ long-term vision is to be “King of Casino”.
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: 222 77 69 or join at the web https://edge.media-server.com/mmc/p/5fggroyh
Latest News
ONLY FIVE DAYS UNTIL ACR POKER UNLEASHES MASSIVE DUAL VENOM EVENTS WITH $12 MILLION IN GUARANTEED PRIZES
The $10 Million NLH and $2 Million PLO events start Sunday, April 13th, with top prizes projected at $1 million and $400,000 respectively
The countdown is on as ACR Poker’s flagship Dual Venom tournaments take center stage in just five days, boasting $12 million in guaranteed prize pools and spotlighting two major events: the $10 million NLH and $2 million PLO.
This Sunday, April 13th at 1:05pm ET marks the start of the two massive Venom events running side by side, offering players a chance to compete in some of the biggest tournament action on ACR Poker’s 2025 calendar.
The $10 Million NLH Venom starts with the first of five Day 1s this Sunday. Day 1 survivors will return for Day 2 on Monday, April 28th, and if they advance, continue to Day 3 on Tuesday. Day 3 survivors will compete for the Venom NLH title at the Final Table on Wednesday, April 30th at 4:05pm ET. With a $2,650 buy-in, the champion is set to win an estimated $1 million.
Meanwhile, the $2 Million PLO event spans three days and features a 6-max format. Also offering five Day 1 flights starting this Sunday, this tournament ties as the largest PLO event in ACR Poker’s history. The PLO champion is projected to win a top prize of $400,000, and players have the option to enter multiple Day 1s to build their stack heading into Day 2.
“We’ve all dreamed of that deep run in a big tourney. The best part about the Venom is anyone can take that shot,” said ACR Pro Chris Moneymaker. “Whether you buy-in directly or satellite in for a few bucks, NLH and PLO players are in for huge prize pools, great structure, and big poker action.”
For players still looking to lock in their Venom entry, ACR Poker is awarding over 1,000 seats through Venom Fever Satellites, with qualifiers starting at $0. The Beast, Venom Madness, Direct and Mega Satellites offer players affordable routes into both headline tournaments. Additional opportunities include the Venom Vault, which has already awarded over $150,000 in prizes and 22 X $2,650 seats.
ACR Poker is also hosting Venom Specials during every Day 1 and Day 2 of the Dual Venoms, featuring over $14 million in guaranteed prizes. Plus, the $500,000 GTD Venom Warmup has daily Day 1 flights running April 14th-27th, for a $66 buy-in.
For further details on the $12 Million guaranteed Dual Venom tournaments and other promotions, visit ACRPoker.eu.
The post ONLY FIVE DAYS UNTIL ACR POKER UNLEASHES MASSIVE DUAL VENOM EVENTS WITH $12 MILLION IN GUARANTEED PRIZES appeared first on Gaming and Gambling Industry in the Americas.
Gambling in the USA
NEW YORK CASINO IN MEXICO WELCOMES CONCEPT AND NEW GAMES FROM ZITRO

The renowned Mexican operator Logrand has installed Zitro’s new CONCEPT cabinets and a selection of its latest games at the New York Casino in Monterrey.
Building on its global success, the CONCEPT cabinet line stands out for its Magic Lighting, immersing players in a synchronized light display, resulting in a unique sensory experience. Furthermore, the cabinet’s large Screen Deck blends comfort with intuitive functionality, optimizing the experience for players and operational teams.
The installation of the CONCEPT cabinets is complemented by the addition of the medieval-themed multi-game Legendary Sword, in which players can double their prizes through unique mechanics with the help of a magic sword.
On the other hand, Fairyland Quest takes players to an enchanted forest where Magic Mushrooms give access to a different bonus each, while a friendly Fairy will give a special bonus that doubles the playing area.
Juan David Baracaldo, Director of Operations and Product, highlighted: “The addition of Zitro’s CONCEPT cabinets is a great step to continue offering unique and high-quality experiences to our players. The unique combination of technology, spectacular graphics, and the experience these cabinets offer will further elevate our casino’s entertainment offering.”
For his part, Johnny Ortiz Viveiros, founder of Zitro, expressed: “We are very excited to strengthen our partnership with Logrand, a strategic partner that shares our vision of providing exceptional gaming experiences. The new CONCEPT cabinets and games like Legendary Sword and Fairyland Quest are just the beginning of what will transform how players enjoy entertainment.”
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Aristocrat Interactive
Logifuture enters Mexico as Zoom Soccer via Aristocrat Interactive partnership

Logifuture, a leading supplier of award-winning iGaming products, has entered the Mexican market with Zoom Soccer, via its partnership with Aristocrat Interactive.
Zoom Soccer is a one-of-a-kind 24/7 virtual sports feed that delivers ultra-realistic, fully simulated matches and outcomes, featuring teams and leagues designed to feel familiar to fans. Built to complement real football offerings, it provides a non-stop, immersive betting experience.
With over 30,000 additional pre-match and in-play betting events each month, Zoom Soccer ensures sportsbooks stay engaging – not just during off-seasons but also during quieter moments of the day or week when real football options are limited. Thanks to existing partner integrations, it attracts tens of millions of bets every month.
The integration of Zoom Soccer is facilitated by Logifuture’s existing collaboration with Aristocrat Interactive. Through Aristocrat’s digital gaming platform, Logifuture is bringing its sophisticated products to millions of players across emerging markets, including Africa, Eastern Europe, Latin America and Central America.
Niccolo Cassettari, Chief Business Development Officer at Logifuture, said : “We’re thrilled that sports fans in Mexico will now be able to experience Zoom Soccer, our 24/7 feed of virtual leagues built for sportsbook users. Offering both pre-match and in-play betting, it delivers an experience that closely mirrors real football, keeping users always engaged.
“As the demand for engaging nonstop sports content grows, this integration helps operators deliver. With a broader pre-match lineup and a live section constantly packed with soccer events, Zoom Soccer enhances the sportsbook experience for customers in Mexico.”
Morten Hauge, Head of Sports at Aristocrat Interactive iGaming & Sports, said: “Our partnership with Logifuture allows us to bring innovative and engaging virtual sports experiences to new audiences.
“The addition of Zoom Soccer in Mexico is a great example of how we’re expanding our digital portfolio to meet the growing demand for high-quality, immersive betting content. We’re excited to see how players respond and look forward to continued collaboration with Logifuture.”
The post Logifuture enters Mexico as Zoom Soccer via Aristocrat Interactive partnership appeared first on Gaming and Gambling Industry in the Americas.
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