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LeoVegas AB Q4: Year-end report 2020

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4 years ago

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“Yet another record year for LeoVegas with a strong close” – Gustaf Hagman, Group CEO

fourth quarter 2020: 1 october–31 december        

  • Revenue increased by 13% to EUR 98.4 m (87.1). Organic growth in local currencies was 14%.
  • Adjusted EBITDA was EUR 11.5 m (9.2), corresponding to an adjusted EBITDA margin of 11.7% (10.6%). Reported EBITDA includes EUR -3.5 m (5.3) in items affecting comparability.
  • The number of depositing customers was 461,983 (372,032), an increase of 24%.
  • Adjusted earnings per share were EUR 0.08 (0.06).

Events during the quarter

  • LeoVegas was the first company in the gaming industry to offer payments via Open Banking.
  • During the quarter the Group’s unique and record-large jackpot was launched under the name LeoJackPot.
  • LeoVegas secured long-term and diversified financing through a combination of a bank credit facility (RCF of EUR 40 m) and a bond issue of SEK 500 m under a total framework of SEK 800 m.
  • During the quarter, LeoVegas repurchased its own shares for approximately EUR 5 million.
  • Ahead of the forthcoming regulation in Germany, a number of changes were implemented. This led to lower revenue during the quarter, with the greatest effect during the month of December.
  • LeoVegas has changed its interpretation of the calculation of gaming taxes in Denmark for earlier periods. This resulted in a self-correction, and a one-off cost of EUR 3.5 m has been charged against EBITDA.
  • Decision has been taken to migrate the Royal Panda brand to the Group’s proprietary technical platform.

Events after the end of the quarter

  • Preliminary revenue in January amounted to EUR 32.5 m (29.9), representing growth of 9%.
  • The Board of Directors proposes a raised dividend totalling SEK 1.60 per share (1.40), an increase of 14%, to be paid out on four occasions during the year.

 

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

STRONG CLOSE TO 2020
LeoVegas concluded the record year 2020 with its strongest fourth quarter ever. And we did this despite frequent changes to the gaming requirements in our markets in addition to finding ourselves in the midst of a global pandemic. I am proud of our ability to quickly adapt to changed conditions through a high capacity for innovation at the same time as we are building an increasingly solid and diversified business. It is a demonstration of strength that LeoVegas delivered adjusted EBITDA growth of 25% for the full year while the operating cash flow increased almost 90 %. This was achieved despite maintaining a high investment pace with launches of new brands, new markets and product improvements.

During the fourth quarter we increased our revenue organically by 14%. Growth was mainly driven by a continued rise in depositing customers, which grew 24% to a new record level. Adjusted EBITDA increased by 25% during the quarter to EUR 11.5 m.  Reported EBITDA was charged with a one-off provision of EUR 3.5 m related to a changed interpretation of the calculation of gaming taxes in Denmark for earlier periods.

MarkETS
With the exceptions of Sweden and the UK, our core markets showed high double-digit growth during the quarter. Above all I want to highlight Italy, which has now become one of our five biggest markets. During the quarter we launched the Pink Casino brand in Canada. The launch is part of our multibrand strategy, where we are utilising existing resources and our technical platform to expand through scale.

In the German market, LeoVegas has implemented a number of changes ahead of the forthcoming licence system in July 2021. As expected, this affected revenue during the period. Operators in the market are acting differently with respect to the new restrictions, and at present necessary clarity is lacking in the ongoing transitional period, which unfortunately has led to a skewed competitive situation until the licence system has been fully implemented.

TECHNOLOGY AND PRODUCTS
During the quarter we carried out and launched several major projects and innovations. In particular I want to highlight our new exclusive jackpot – LeoJackpot – where our customers can win over SEK 50 m directly from their smartphones. We were also first in the industry to offer payments via Open Banking. This will benefit LeoVegas and our customers in many ways, including through more secure and faster payments and lower transaction costs.

During the quarter we began the migration of Royal Panda to our joint technical platform. As a result, in 2021 all brands will be operated on the same platform. The migration will lead to cost synergies such as lower platform and product costs and a more efficient organisation. The decision has also resulted in impairment of intangible assets attributable to Royal Panda’s platform, which was charged against EBIT in the amount of EUR 1.9 m.

FINANCING AND INVESTMENTS
At the end of the year we secured the Group’s long-term financing needs through the combination of a renewed bank credit facility of EUR 40 m and a newly issued corporate bond of SEK 500 m.

Stable financing combined with a strong balance sheet gives us a solid base for continued expansion, both through organic initiatives and potential acquisitions. During the fourth quarter we carried out share repurchases for approximately EUR 5 m. In addition, the Board of Directors proposes an increase in the dividend to SEK 1.60 per share.

COMMENTS ON FOURTH QUARTER
Revenue for the month of January amounted to EUR 32.5 m (29.9), corresponding to annual growth of 9%. In January revenue was fully impacted by the changes carried out in Germany ahead of the forthcoming regulation.

On the tailwinds of a strong 2020 we are now looking forward to a year with many exciting growth initiatives and an even stronger customer offering.

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Sports Betting’s First Contest Docuseries Returns for a Second Season with More Contestants, More Drama, and $14.2 Million on the Line

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July 31, 2025

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VSiN, The Sports Betting Network, announced it will air the second season of the betting industry’s first docuseries to bring viewers behind the scenes of the world’s biggest legal betting contest. “Circa Survivor: The Quest for $14.2 Million” debuts its first episode Tuesday, August 5 at 9 p.m. ET/6 p.m. PT on VSiN.com and YouTubeTV.

Produced by Longball Productions, the sports betting docuseries follows contestants as they navigate the 2024 Circa Sports Circa Survivor Pro Football Contest – the largest sports contest of its kind in the world – with a prize of $14.2 million. The show captures the excitement and drama of this high-stakes contest, as well as the characters involved, to see who will win a winner-take-all prize. This year features familiar faces and new contestants alike, including celebrity sightings such as Dana White and Greg Maddux.

Hosted by sports betting venture Circa Sports, Circa Survivor requires contestants to walk through the door to sign up, giving the docuseries filmmakers access to sports betting enthusiasts nationwide. Contestants then make their weekly picks through a local proxy service or in person, where producers follow the thrills and agony of this wild ride through the pro football season. The series features a vast array of characters and incredible stories, including fan favorites and players that viewers will love to hate.

There will be a total of ten episodes in this season.

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Brand Finance

US Online Betting Brands Topple Vegas as World’s Leading Gambling Brand

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July 31, 2025

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The combined value of the world’s top 25 gambling brands ranked has surged by 21% year-on-year to USD60.8 billion this year, according to the Gambling 25 2025 rankings by Brand Finance, the world’s leading brand valuation consultancy.

The latest data from Brand Finance highlights the sector’s remarkable resilience and transformation, fuelled by a post-pandemic tourism rebound, rapid legalisation of online betting in the US, and rising sports sponsorships that have lifted brand awareness among millions of new fans.

Following the 2018 repeal of the Professional and Amateur Sports Protection Act (PASPA), the US has become the world’s largest regulated online gambling market, with more than 35 states now permitting sports betting. Major operators have responded with record marketing expenditure and high-profile sponsorship deals, driving strong brand growth nationwide.

Online gambling in the US is quickly catching up to Las Vegas in both brand value and public interest. Brand awareness is rising fast, with FanDuel up 26% and DraftKings up 18% since 2022. In contrast, traditional Vegas-based brands like Caesars and MGM have seen more modest gains; just 1% and 14%, respectively. With FanDuel now at 74% awareness and DraftKings at 82%, they’re closing in on Caesars (82%) and MGM (87%), signalling strong future growth for online operators.

In 2024, Americans wagered an estimated USD172 billion online, helping to drive record brand value growth among major players. Online gambling brand, FanDuel (brand value up 25% to USD7.0 billion) has risen to become the world’s most valuable gambling brand ranked this year. DraftKings (brand value up 59% to USD5.1 billion) has entered the global top three for the first time while MGM (brand value up 102% to USD3.8 billion) and Wynn Resorts (brand value up 25% to USD3.7 billion) have also posted significant gains, reflecting strong demand across both online and destination gaming.

Other prominent US names ranked include Harrah (brand value up 4% to USD2.4 billion) which has strengthened customer loyalty through revamped rewards programmes and integrated resort experiences, and Penn Entertainment (brand value down 15% to USD2.2 billion).

China’s Studio City (brand value up 118% to USD801 million) is the world’s fastest-growing gambling brand in this year’s rankings, following its Phase 2 expansion in Macau which boosted operating revenue by 40% year-on-year. Macau’s gaming industry continues to recover strongly, with visitor arrivals up 43% in the first half of 2024 and gross gaming revenue in July rising 12% compared to the previous year.

Meanwhile, Marina Bay Sands remains the strongest brand ranked in the casino and gambling sector, with a Brand Strength Index (BSI) score of 93.9/100 and an AAA+ brand strength rating, ahead of the US’ Caesars (BSI score 92.4/100) and Malaysia’s Genting (BSI score 87.7/100). These brands continue to stand out for their premium entertainment experiences and strong reputation for customer loyalty and trust.

Henry Farr, Director at Brand Finance, said: “Reaching a record USD60.8 billion in brand value, the gambling sector continues to demonstrate its strength and agility in meeting changing consumer demands. The US online betting boom, with FanDuel now surpassing traditional Vegas giants, alongside major sports sponsorships, has driven impressive brand growth.”

The post US Online Betting Brands Topple Vegas as World’s Leading Gambling Brand appeared first on Gaming and Gambling Industry in the Americas.

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Akhil Sarin

Stake joins Trinbago Knight Riders as official title partner

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51 minutes ago

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July 31, 2025

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The Trinbago Knight Riders (TKR) today announced that Stake, the world’s leading online casino and sportsbook, has joined as their official Title Partner, marking a significant milestone for the most successful franchise in the Caribbean Premier League.

The partnership unites two powerhouse brands – with Stake aligning with a franchise that has claimed four championship titles (2015, 2017, 2018, and 2020), and continues to set the standard for excellence in T20 cricket.

This partnership adds to Stake’s impressive global sports portfolio, which includes the UFC, Everton FC, and the Stake F1 Team. The announcement builds on Stake’s growing cricket presence, following successful partnerships with the European Cricket Championships, Paarl Royals, and Major League Cricket.

“We are proud to welcome Stake as the Official Title Partner of the Trinbago Knight Riders in a multi- year agreement,” said Binda Dey, Group CMO, Knight Riders Sports.

“This partnership marks a significant milestone for us, bringing together two globally recognised brands with a shared commitment to innovation and elevating fan engagement through technology. Stake’s impressive presence across global sports demonstrates their dedication to supporting world-class sporting entertainment, and we look forward to a successful and impactful partnership.”

Akhil Sarin, Chief Marketing Officer at Stake, said: “TKR represents the kind of excellence Stake looks for in partnerships. Their track record and passionate fanbase make them the perfect addition to our cricket portfolio. We’re excited to support TKR and bring our platform to cricket fans worldwide.”

“Our partnership with TKR is not just about brand alignment – it’s a step toward building meaningful connections with cricket fans. We are excited to create immersive, tech-driven fan experiences that reflect the energy and passion of T20 cricket,” added Sarin.

To celebrate this partnership, Trinbago Knight Riders and Stake launched an innovative teaser campaign, combining the star power of the Knights – Andre Russell, Sunil Narine, and Dwayne Bravo alongside athletes from Stake’s global sponsorship portfolio. The campaign was designed to build intrigue by tapping into the passionate fanbases of these diverse sports, generating organic buzz across social media and culminating in the official partnership reveal.

The post Stake joins Trinbago Knight Riders as official title partner appeared first on Gaming and Gambling Industry in the Americas.

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