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LeoVegas AB Q4: Year-end report 2020

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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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Gaming Americas Weekly Roundup – April 21-27

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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International Game Technology PLC announced that its dynamic Wheel of Fortune DiamondRS Premium Wheel cabinet recently launched in casinos across the US. Guests of Sky River Casino in Elk Grove, Calif. and of Mohegan Sun in Uncasville, Conn. were among the first players in the world to enjoy the Wheel of Fortune Cash Link Reels Double Diamond and Wheel of Fortune Cash Link Reels Double Gold games on IGT’s new ultra-high-tech, mechanical-reel cabinet. Designed exclusively for Wheel of Fortune game content, the Wheel of Fortune DiamondRS Premium Wheel cabinet boasts a 20-inch physical wheel, a 32-inch LCD top box and a 23-inch transmissive display.

CT Gaming continues its strong momentum from the first quarter of 2025 with a new wave of installations in Panama. Strengthening its position in the Latin American market, the company has partnered with leading operators to introduce top-performing products, including the EZ Modulo 32/32/32 slot cabinet and the highly successful Diamond King series. Among the highlights of the installation is Diamond King 3—CT Gaming’s bestselling multigame featuring 50 captivating titles. Players can enjoy a diverse mix of content, including the legendary Mega Jack trio: Aztec Gold, Slot-O-Pol Deluxe and Champagne Party. The experience is further enhanced by the Diamond Tree progressive jackpot, which delivers elevated gameplay and exciting reward potential.

Las Vegas Sands has contributed $100,000 through the Sands Cares global community engagement programme to 100 Black Men Las Vegas in support of the organisation’s youth mentorship, scholarship and community service offerings. The 2025 donation will enable 100 Black Men Las Vegas to offer new programmes including a science, technology, engineering and math initiative; the Pathways to Public Service programme, which focuses on developing a pipeline of law enforcement and first responder professionals; and Realtist Academy, which prepares participants to become licensed real estate agents or mortgage brokers. In addition, Sands Cares funding will help 100 Black Men Las Vegas pursue efforts to identify a permanent location for the organisation.

Partnerships

SCCG Management has announced an expanded partnership with AWARE, a global leader in biometric verification software. Under this agreement, SCCG becomes a preferred reseller for AWARE’s biometric and identity verification solutions within the global gaming industry. AWARE’s advanced biometric technology offers a future-proof solution for iGaming and gambling platforms—empowering operators to ensure compliance, prevent fraud and protect players, all while delivering a seamless and secure user experience. With growing regulatory scrutiny and rising demand for frictionless onboarding, AWARE’s adaptive biometrics provide a scalable and trusted identity framework for modern gaming environments.

The Brazilian Football Confederation and Sportradar Integrity & Regulatory Services, a unit of Sportradar AG announced the extension of their long-standing partnership, set to begin with the 2025 season. The new agreement aims to enhance efforts to combat match-fixing in Brazilian football and safeguard the integrity of the sport. Sportradar, through its industry-leading Universal Fraud Detection System (UFDS), will deliver integrity monitoring for more than 8200 men’s and women’s matches organised annually by the CBF. Through this renewed partnership, the UFDS will now cover all Brazilian national championships.

The post Gaming Americas Weekly Roundup – April 21-27 appeared first on European Gaming Industry News.

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SOFTSWISS Enhances Leadership Team to Drive Global Expansion

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SOFTSWISS, a leading global provider of iGaming software, announces the appointment of three seasoned professionals to key leadership positions: Denis Ilienkov as Product & Technology Non-Executive Director; Kyryl Avdieienko as Chief Product Officer (CPO); and Viktor Iegorov as Chief Delivery Officer (CDO). 

These strategic appointments are integral to SOFTSWISS’ vision of strengthening its leadership team to navigate the complexities of the global iGaming landscape, ensuring agility and innovation in product development and delivery. 

Denis Ilienkov, in his new role as Product & Technology Non-Executive Director, will oversee product and technology-related operations, including control responsibilities. Kyryl Avdieienko, appointed as CPO, will lead product strategy and development across the SOFTSWISS product portfolio. With a background in iGaming, game development, and fintech, Kyryl brings a wealth of experience to the role. Viktor Iegorov, as CDO, will be responsible for developing processes and managing the strategic delivery portfolio.

These appointments are part of SOFTSWISS’ ongoing commitment to fostering a collaborative and synergistic leadership approach. Denis, Kyryl, and Viktor will work closely to drive the company’s mission of delivering cutting-edge iGaming solutions, fostering a culture of innovation and excellence.

Denis Ilienkov commented on the appointments: “At SOFTSWISS, we’ve always prided ourselves on our agility and innovation. As we venture into new markets like Brazil and South Africa, it’s imperative that our leadership structure evolves to meet the unique challenges and opportunities these regions present. The introduction of roles such as the Chief Delivery Officer ensures that our delivery processes are not only maintained but continuously enhanced. This strategic shift is about more than just titles; it’s about positioning SOFTSWISS to deliver unparalleled value to our clients and partners worldwide.”

These leadership changes closely follow  SOFTSWISS’ recent product and technology milestones. Notably, the company celebrated its first Sportsbook Network Jackpot win during the SiGMA Americas event in São Paulo, where a player claimed €80,294.89 – more than doubling the initial €35,000 prize pool. Additionally, SOFTSWISS’ Deputy CTO, Sergey Kastukevich, was honoured as CTO of the Year in EMEA at the 2025 Oracle Excellence Awards, recognising his strategic use of emerging technologies to advance the company’s objectives.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

The post SOFTSWISS Enhances Leadership Team to Drive Global Expansion appeared first on European Gaming Industry News.

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NSoft and InnovaPlay Strengthen Sportsbook Offering with Strategic Partnership

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NSoft, a leading provider of premium sportsbook solutions, has partnered with InnovaPlay, enhancing its sportsbook platform with the industry-leading NextGen Sportsbook. This strategic collaboration integrates NSoft’s innovative sportsbook technology seamlessly into InnovaPlay’s comprehensive white-label and full web solution, empowering sportsbook operators to reach new heights of performance and player engagement.

NextGen Sportsbook, known for its four main pillars – stability, unparalleled speed, multifeed integration, and dynamic player experience – is perfectly tailored to meet diverse betting market demands. It adapts effortlessly to various odds presentations, aligning with local and regional preferences, and stands out as the industry’s fastest sportsbook, generating standard offers in an exceptional 20 milliseconds.

Placing the player experience at its core, NextGen Sportsbook offers personalized and highly engaging betting interactions. Features such as individualized betting options, dynamic odds, custom bonuses, individual cashout capabilities, and tailored odds layouts significantly enhance player satisfaction, fostering loyalty and sustained engagement.

Operators benefit from NextGen’s powerful integration capabilities, which manage multiple betting feeds, including sports betting, esports, and horse or dog racing, in both pre-match and live scenarios. The advanced multifeed system ensures uninterrupted operations by seamlessly switching between providers as needed.

NSoft’s NextGen Sportsbook also boasts comprehensive player engagement tools such as Cash Out, Edit Bet, Bet Builder, and advanced betting stimulation products. Its multi-language and multi-currency functionalities allow operators to expand their reach globally. The sportsbook’s flexible bonus engine and dynamic trading options, including full automation, DIY, and hybrid franchise models, give operators complete control and flexibility. Additionally, its sophisticated AI personalization capabilities further elevate the betting experience by delivering personalized recommendations to each punter.

Shaun Grech, Technical Director at InnovaPlay, emphasized the significance of the partnership: “This strategic partnership with NSoft represents a game-changer for our sportsbook operators. By integrating NSoft’s award-winning sports betting engine and virtual sports products into our platform, we’re giving operators three key competitive advantages:

  • Lightning-fast betting markets with the deepest liquidity pool in the industry
  • Seamless cross-sell opportunities between casino and sportsbook verticals
  • Full customization of odds, limits, and betting rules to match local market demands.

This is how modern sports betting platforms should perform – with surgical precision and total operator control.”

Drago Ćavar, Managing Director of Sportsbook Platform at NSoft, added: “Our collaboration with InnovaPlay underlines our commitment to providing sportsbook operators with groundbreaking technology that drives growth and player satisfaction. NextGen Sportsbook’s exceptional speed, versatility, and personalized betting experience make it an ideal solution for forward-thinking operators. We’re excited about the opportunities this partnership brings and confident it will set new industry standards.”

Through this collaboration, InnovaPlay and NSoft are poised to redefine excellence in sportsbook operations, positioning NextGen Sportsbook as the preferred choice for operators seeking advanced capabilities and unmatched player engagement.

The post NSoft and InnovaPlay Strengthen Sportsbook Offering with Strategic Partnership appeared first on European Gaming Industry News.

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