Connect with us
Affilka

Latest News

LeoVegas AB: Fourth quarter: 1 October-31 December 2017

Published

on

LeoVegas AB: Fourth quarter: 1 October-31 December 2017
Reading Time: 8 minutes

“Three acquisitions, a listing change, unicorn status, refined strategy and one of our strongest quarters ever.”

                                                                                  Gustaf Hagman, Group CEO and co-founder

 

Fourth quarter: 1 October-31 December 2017

  • Revenue increased by 65% to EUR 67.8 m (41.2). Organic growth was 48%. Organic growth excluding markets closed in 2017 was 82%.
  • Revenue from regulated markets accounted for 29.0% (11.0%) of total revenue.
  • Mobile deposits accounted for 69% (67%) of total deposits, which increased by 62% to EUR 224.6 m (139.1).
  • The number of depositing customers was 253,299 (176,306), an increase of 44%. The number of new depositing customers was 128,409 (85,384), an increase of 50%. The number of returning depositing customers was 124,890 (90,922), an increase of 37%.
  • EBITDA was EUR 6.1 m (10.0), corresponding to an EBITDA margin of 9.0% (24.2%). EBITDA adjusted for items affecting comparability was EUR 7.1 m (10.0), corresponding to an adjusted EBITDA margin of 10.5% (24.2%).
  • Earnings per share were EUR 0.02 (0.10) before dilution and EUR 0.01 (0.10) after dilution.
  • LeoVegas’ board of directors proposes a dividend of SEK 1.20 (1.00) per share, for a total of SEK 119,634,564 (EUR 12.2 m).

Events after the end of the quarter

  • Net Gaming Revenue (NGR) totalled EUR 24.8 m (14.1) in January, representing growth of 76%. Excluding the acquisition of Royal Panda, NGR in January was EUR 20.9 m, representing growth of 48%.
  • LeoVegas acquired 51% of the shares in the company behind the streaming network CasinoGrounds.com for SEK 30 m (EUR 3.1 m), with a maximum potential earn-out of SEK 15 m (EUR 1.5 m). LeoVegas completed the acquisition and gained possession of the shares as per 1 January 2018. See page 10 for further information.
  • LeoVegas entered into an agreement to acquire, for GBP 65 m (EUR 73.5 m), assets from Intellectual Property & Software Limited and related assets from two additional companies that operate several brands, including 21.co.uk, slotboss.com, Bet UK and UK Casino. See page 10 for further information.
  • LeoVegas carried out its change in listing to Nasdaq Stockholm on 5 February.

Comment from Gustaf Hagman – Group CEO and co-founder

An incredibly eventful quarter

Q4 2017 was one of our best quarters ever, with very strong underlying growth. Compared with Q4 2016 and excluding markets that we closed in 2017, our organic growth was an incredible 82% during the quarter. We even set a record for new depositing customers.

During the Q4 LeoVegas passed an important milestone, namely, a market cap higher than a billion dollars, which means that we became a “Unicorn”.

I am very proud that we managed to carry out our first major acquisition during the fourth quarter, Royal Panda. During the last two years we have scoured the gaming market for companies that fit our overall expansion strategy, which Royal Panda does through its strong presence in the UK and its great global brand. Moreover, they earn a higher share of their revenue from mobile devices than the industry on average.

Royal Panda contributed EUR 5.6 m in revenue during the fourth quarter, which is slightly lower than their Q3 figure. This is because Royal Panda was included for only two months of the quarter, and because the company closed a number of markets during the year for the same reason that LeoVegas closed the Czech Republic and Australia. This was according to plan, and adjusted for these markets, Royal Panda grew 57% in Q4. Royal Panda is showing continued good performance in early Q1 2018, and I am very proud of how well our collaboration works already today.

During the quarter we acquired 51% of the shares in GameGrounds United AB (CasinoGrounds). The company operates the site www.casinogrounds.com, which in a short time has become a platform for casino streaming, with an active social casino forum.

In CasinoGrounds we are seeing a new behaviour in which people interested in casino games watch others play casino games via YouTube and Twitch. The combination of proprietary content and video format is creating interesting opportunities going forward and is in line with LeoVegas’ strategy to be an innovative and entrepreneur-driven company. Our ambition now is to scale up existing operations to more markets.

Refined strategy

For several years we have been searching for acquisition candidates, and we have now successfully carried out our first acquisition. This is yet another milestone in the Company’s history. LeoVegas will always focus on organic growth, but we will also make complementary acquisitions when we believe that they will develop our overall business. I want to add, however, that in the near-term we will focus on integrating these recent acquisitions.

Our expansion strategy is to grow in regulated markets and markets that will soon become regulated, and to carry out strategic, complementary acquisitions.

Our product strategy is to be the most innovative and pioneering company in the gaming industry.

Change in management team

LeoVegas Mobile Gaming Group is striving to be the most innovative, entrepreneurial and fastest growing company in our industry. To strengthen this pursuit, we are working intensively with our company culture, among other things.

Toward this end, I have created a new position, Chief Human Resources officer (CHRO), and brought Caroline Palm onto the Group Management team. In recent years Caroline has served as head of HR for a technology and entrepreneur-driven company grouping with more than 2,000 employees.

During the quarter we have seen the strengths of Jarl Modén’s work, and as a result we have promoted him to the permanent position of Chief Product Officer (CPO) on the Group Management team.

Authentic Gaming

Authentic Gaming unveiled very exciting news with the announcement of an agreement with Foxwoods Resort Casino, the largest casino resort in the USA. This has made it possible for the first time for casino gamers in Europe to play live casino streamed directly from casino tables in the USA. The service is distributed through Authentic Gaming’s network of operators, which includes LeoVegas.

4Q’17 figures

Revenue during the fourth quarter amounted to EUR 67.8 m (41.2), an increase of 65%. Organic growth was 48%. EBITDA adjusted for items affecting comparability related to consulting services for acquisitions and our listing on Nasdaq Stockholm was EUR 7.1 m (10.0), corresponding to an adjusted EBITDA margin of 10.5% (24.2%). Revenue from regulated markets accounted for 29% (11%) of total revenue during the quarter.

2017 – The year as a whole

We grew by 53% during 2017. But our organic growth during the year, excluding markets that we closed, was a full 61%. This is outstanding performance and figures that we at LeoVegas are very proud of.

In terms of personnel we grew from 365 employees at the start of the year to 566 at year-end, which of course puts high demands on our managers and organisation.

We have expanded our offices, and during the year we moved to new premises in Stockholm – all to create the best conditions for continued growth of the Company.

Denmark

During the year Denmark went from being a small market to a very important one and has thereby shows that our model, combined with hard work, is successful. LeoVegas is now one of the absolute strongest gaming brands in Denmark and continues to grow.

Canada

During the quarter, we launched our free-to-play site, LeoVegas.net, in Canada with the hockey legend Mats Sundin as an ambassador. At LeoVegas.net you can play mobile casino games without wagering real money and this will provide good marketing opportunities.

Our position – GameTech

Ever since LeoVegas was established we have been extremely product- and technology-driven. We therefore view ourselves not only as a mobile gaming company, but as a leading tech company in the gaming industry. Explaining LeoVegas to people in our external environment when it comes to identity, culture and way of working is described best by the term GameTech.

Start of 2018

Rocket X

We began the year with another large acquisition, with focus on the UK, when we entered into an agreement to acquire assets from Intellectual Property & Software Limited (“IPS”) along with related assets from two related companies with highly-ranked brands such as 21.co.uk, Slotboss, Bet UK and UK Casino. We now refer to this collectively as Rocket X.

Since its launch in 2012 LeoVegas has had a very successful global brand strategy. Following the acquisition of Royal Panda, LeoVegas has two scalable brands. In larger markets these global brands, LeoVegas and Royal Panda, can be complemented with a local, multibrand strategy, which has now been made possible through the Rocket X acquisitions. The UK market is sufficiently large and mature to justify working with several brands. In Rocket X we have identified several features that have caught our interest, and they have great momentum – both in their growth and profitability. This, combined with one of the market’s most effective customer acquisition models, gives us a stronghold in the UK plus 85 new employees with local expertise. With this acquisition we have also get a company culture that has a sharp focus on technology and products, which is a perfect match for LeoVegas.

In connection with the acquisition of Royal Panda, the Group secured debt financing of EUR 100 m, of which EUR 20 m was utilised in connection with the acquisition. We thus have scope of up to EUR 80 m to settle the Rocket X acquisitions.

During the fourth quarter of 2017 Rocket X had revenue of GBP 11.7 m and adjusted EBITDA of GBP 3.8 m, for an adjusted EBITDA margin of 32.6%. Revenue for the fourth quarter grew 49% compared with a year earlier. Of total revenue, 96% comes from the UK and 73% via mobile devices.

The acquisition is contingent upon the fulfilment of conditions, and possession is expected to be transferred during the latter part of Q1’18.

If both Royal Panda and Rocket X had been part of LeoVegas during the entire fourth quarter, consolidated revenue would have been EUR 84 m.

Product news

Apple Pay and facial recognition

Fifty-five per cent of LeoVegas’ customers in the UK use iPhones. The launch of Apple Pay is thereby contributing to an improved experience for these customers. Being able to offer Apple Pay requires that the market is locally regulated, which the UK is. The UK is the first market in which LeoVegas is launching Apple Pay, but we already have plans to introduce it in more markets. Using state-of-the-art technology, LeoVegas is also launching facial recognition for log-ins and approval of payments using Apple Pay. This is possible owing to LeoVegas’ own technology paired with Apple’s new iPhone X, allowing customers to log in in a few hundredths of a second and approve payments via Apple Pay just as fast.

Expanded focus on live sport

LeoVegas is working intensively to improve and build the best sports betting experience ahead of the forthcoming UEFA World Cup. As part of this we are expanding our live streaming offering in the Nordic markets. LeoVegas Sport now has a strong offering of some 10,000 live broadcast sport events.

Exclusive games

LeoVegas is working closely with a number of game developers, including NetEnt and Yggdrasil, to come up with innovative and exclusive games, which we call LeoVegas Originals. One example is WitchCraft Academy from NetEnt, which was launched in January, and more games are in the starting blocks for launch.

Nasdaq Stockholm’s Main Market list

I am very happy to note that as from 5 February LeoVegas is traded on Nasdaq Stockholm’s Main Market list. This change in listing will strengthen the Company and give us an even better quality seal in our communication and cooperation with authorities, licensors and partners. For institutional investors – both in Sweden but even more so abroad – we will become more accessible and attractive as a company.

Other comments on Q1 2018

January has begun well, with Net Gaming Revenue (NGR) of EUR 24.8 m (14.1), representing growth of 76%. Growth excluding acquisitions and closed markets was 72%. During the first quarter we expect marketing in relation to revenue to be slightly lower than the average for 2017.

We continue to win numerous accolades – most recently at the EGR Nordics Awards, where the most successful and innovative gaming companies were highlighted. In tough competition LeoVegas won three distinctions: “Nordics Operator of the Year”, “Casino Operator of the Year” and “Sports Betting Operator of the Year. It’s always fun to win!

With several great acquisitions, awards, our change in listing and a strong start to the first quarter, all of us at LeoVegas are looking forward to an exciting 2018.

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 5065 3942, UK: +44 (0) 330 336 9411, US: +1720 543 0214 code: 492 82 23 or join at the web https://edge.media-server.com/m6/p/o7um9xoi

Advertisement Kasynos.Online

Latest News

Bonanza Billion by BGaming showed record results in the first month after launch

Published

on

Bonanza Billion by BGaming showed record results in the first month after launch
Reading Time: < 1 minute

 

Bonanza Billion, the first slot with refilling reels by BGaming, showed the most successful start among the provider’s titles. The first month after release, the game exceeded the results, namely the bets count of the BGaming top slot called Elvis Frog in Vegas by 21%. 

Launched on the 3d of December, the Bonanza Billion slot inspired players to win with a charming Christmas look. You can see how it was in a streaming session with Haddzy. 

Now it’s time to present the basic version of the game. Bonanza Billion, full of colours and juicy fruits, turned into its classic look, which will delight casino amateurs during the year. The changes doesn’t affect the features pack. Free spins, Multiplier, Buy Bonus, and Chance x2 will still be available!

“We’re focused on providing new mechanics to our players, and we’re extra are glad to see such great results of the first cascade slot in the lineup. The combination of refilling reels and the buy bonus feature make the game especially engaging. This is the best way to see an epic win on the screen! ” commented Kate Puteiko, CS Marketing Manager at BGaming. 

BGaming will add one more slot with refilling reels and the buy bonus feature to its collection following the players’ preferences. Irish-style Clover Bonanza will be released in spring.

 

BGaming is a fast-growing game provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 700+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 70+ products with HD graphics and a clear user interface for every device.

Continue Reading

Latest News

A GAME OF TWO SCARVES: JAMIE REDKNAPP INVESTIGATES THE TRAGEDY OF HALF-AND-HALF SCARVES IN FOOTBALL

Published

on

A GAME OF TWO SCARVES: JAMIE REDKNAPP INVESTIGATES THE TRAGEDY OF HALF-AND-HALF SCARVES IN FOOTBALL
Reading Time: 2 minutes

 

New Paddy Power series sees Redknapp chance his arm as documentary maker to learn about the origins of one of the worst things to happen to football

Footballer-turned-pundit, Jamie Redknapp, is now stepping into the world of hard-hitting documentaries to tackle one of the biggest issues in the modern-day game…the half-and-half scarf.

Paddy Power’s Jamie Redknapp Investigates is a new series that will see the former Liverpool and Spurs legend get to the bottom of the things that really annoy football fans about the modern game.

Episode one sees Redknapp get to the bottom of half-and-half scarves – the ghastly neckwear issue, described by fans he interviews as “Filth”, “Foul” and “So sh*t”.

In the first of a three part series – with episodes two and three released over the fortnight – Redknapp reveals the industry is now worth “over half a billion pounds” and tracks down the inventor of the half-and-half scarf.

The inventor, Brian, explains that the inspiration behind joining two separate scarves together was his own divorce, after his wife cut everything he owned in half.

Sewing his Arsenal and Holland neckwear together, Brian created the world’s first half-and-half scarf – which rather unfortunately reads “Arse land”.

But, at what cost? “Half-and-half scarves have a very short shelf life,” says Redknapp’s next interviewee – environmental activist, Lisa.

Discarded items can unfortunately find their way into nature, with Lisa reporting sightings of a baboon wearing a scarf featuring Tony Pulis at one end Sean Dyche at the other. Although Lisa does say that there aren’t health implications for the animals, they “just look really stupid”.

Redknapp then returns to see Brian once more as he’s told there’s a gift waiting for him. And, after showing off his diversified portfolio (including Manchester United and Liverpool half-and-half facemasks), the inventor gives the former England international his present.

Unfortunately, the Redknapp edition scarf features Harry at one end but the wrong Jamie at the other – Jamie Vardy.

Episode two of Paddy Power’s Jamie Redknapp Investigates, released next Friday, will see Jamie taking on Twitter trolls.

Spokesman Paddy Power said: “Forget diving, dodgy VAR calls and people leaving early – half-and-half scarves are the biggest disgrace in football right now. So, we put our best man on the case to investigate and uncover the ugly truth about this scourge of modern football that we know annoys all proper football fans across the country.

“Because there are some things that just don’t look right together, like pasta and ketchup or Tottenham and trophies.”

The full video can be viewed on Paddy Power’s YouTube and Twitter  pages.

Continue Reading

Latest News

Playtech Live launches bespoke offering with bet365

Published

on

Playtech Live launches bespoke offering with bet365
Reading Time: < 1 minute

 

Playtech, the world’s leading gambling technology company, announces the launch of the largest scale studio development in the supplier’s history with long-term partner, bet365.

Built across two separate studios, the new development is the biggest Live Casino studio launch in Playtech’s 22-year history.

The new studio offering, comprises of twelve 7-seat Blackjack tables, two classic single-zero Roulette, three Baccarat, and two All Bets Blackjack tables.

In addition to the aforementioned tables, it also hosts the new and exclusive multiplier roulette game, Super Spin RouletteSuper Spin Roulette is a bespoke game built as part of a collaborative partnership with bet365 and boasts unique gameplay – with each spin, a random Multiplier is revealed with the highest possible Multiplier of x540. The custom-made studio design puts Super Spin Roulette at the heart of the action, with all tables placed around the centrally located Super Spin Roulette game.

Kevin Kilminster, Head of Live Casino Innovation at Playtech, said: “We are extremely proud that bet365 has chosen to partner with Playtech to create new and engaging content for their customers. It is fantastic to see one of our most prestigious partners taking the opportunity to build bespoke content and utilising the vast knowledge and experience that the Playtech Live team has to offer. Super Spin Roulette is genuinely one of a kind and the gameplay experience is very exciting. Both new studios are designed to an incredible standard, and this is testament to Playtech’s scale and innovation when it comes to supporting our partners. We look forward to continuing our strong and successful partnership with this world-class operator.”

Continue Reading
Advertisement
Advertisement
EvoPlay
Advertisement
Kasyno Online na HEX Polska

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.