Connect with us

Latest News

LeoVegas AB: Quarterly report 1 april – 30 june 2019


Visit Wazdan at ICE London at the N7-420 stand

Published

on

Reading Time: 4 minutes

 

“LeoVegas is delivering good growth with high profitability in a difficult-to-navigate environment. Q2 2019 was our best quarter ever, and we continue to take market shares.” – Gustaf Hagman, VD och koncernchef

Second quarter 2019: 1 april–30 june 2019[1]

  •  Revenue increased organically by 8% to EUR 94.4 m (87.4).
  •  EBITDA was EUR 15.1 m (15.0), corresponding to an EBITDA margin of 16.0% (17.2%).
  •  The number of depositing customers was 334,961 (309,987), an increase of 8%.
  •  The number of returning depositing customers was 196,203 (175,500), an increase of 12%.
  •  Earnings per share were EUR 0.07 (0.07) before and after dilution.

Events during the quarter

  •  LeoVegas was granted a gaming licence in Spain. Two weeks after the licence was granted, LeoVegas was launched in Spain.
  •  LeoVegas’ technological infrastructure was migrated to Google Cloud.
  •  A number of product innovations were launched, including improved search functions, multiplay on mobile devices and exclusive games.

Events after the end of the quarter

  •  Preliminary revenue of EUR 29.7 m (27.1) in July, representing growth of 9%.
  •  LeoVegas has opted to not apply for a gaming licence in the recently re-regulated Swiss market. Switzerland accounted for EUR 2.2 m of revenue during the second quarter.
  •  Dersim Sylwan recruited as new Chief Marketing Officer and will assume his position by 1 January 2020 at the latest.
  •  Louise Nylén leaving as deputy CEO. Her role will not be replaced.
  •  Notice of Extraordinary General Meeting on August 28 regarding incentive program. The notice is posted on the company’s website.

Comment from Gustaf Hagman – Group CEO

First half of 2019
During the first half of 2019 we generated good underlying growth and profitability despite a difficult-to-navigate external environment in several of our largest markets.

Second quarter results
Revenue during the second quarter amounted to EUR 94.4 m (87.4), an increase of 8%. Organic growth in local currencies was 8%. Growth was favourable during the period in most of our markets. However, the UK continued to be challenging. Excluding the UK, organic growth was 26%. At the same time, in Sweden we have found a new base to grow from following regulation of the market, and our revenue developed in a positive direction month-on-month during the quarter.

Compared with a year ago, LeoVegas has a more balanced geographic revenue mix. This means that we are not as sensitive to challenges that may arise in a specific market, which in turn means that we have lower business risk in the Group.

EBITDA totalled EUR 15.1 m (15.0) during the second quarter, corresponding to an EBITDA margin of 16.0% (17.2%). Greater focus on efficiency and cost control has had the intended effect, and we continue to review our external agreements and optimise our own organisation. This work is helping to create necessary economies of scale and is countering the effect of that we are paying more gambling taxes. As previously communicated, our marketing investments also decreased compared with the first quarter of the year. A contributing factor to this is more restrained marketing in Sweden during the quarter. In addition, the postponement of a few campaigns from the second to the third quarter has affected costs and contributed to operating profit, which will have a reverse effect during the third quarter.

To further benefit from the expertise that has been added through acquisitions and be more efficient, we have restructured the country organisations for the UK and Italy. We have moved country-specific functions into our central teams and eliminated roles that have become redundant as a result of acquisitions. This is one of many initiatives we have taken to increase efficiency and optimisation within the Group.

Sweden
Sweden has now been a regulated market for more than six months, and the development is beginning to indicate what kind of market we will have over the long term. We are satisfied with our performance in Sweden and believe that we are taking market shares. LeoVegas is today the single largest casino brand in Sweden. Our focus on product and customer experience, our knowledge about regulated markets and our strong brand position contribute to the positive development. On top of this, the launches of GoGoCasino and Pixel.bet have been successful, and the brands are appreciated by our Swedish customers.

As a large and long-term player both in Sweden and globally, we at LeoVegas want to participate in changing the perception of the industry. There is a strong need today to educate and inform the general public, opinion-shapers and politicians about our industry, what we stand for and the work we are doing – not least in responsible gaming and sustainability. This is important for ensuring that we work together to secure that the new regulation is a success with high participation in the licence system, i.e. that there is a high level of channelization, and with extensive consumer protections.

Expansion
Only two weeks after we received our licence in Spain, we went live as the first newly licensed operator. This shows the strength and speed of LeoVegas and further demonstrates that our experience from regulated markets benefits us. Spain is a step in our continued expansion, and we have also recently carried out launches in other Spanish-speaking countries, such as Chile and Peru, as well as in Brazil.

Technology
During the quarter we migrated our technology to Google Cloud. The move will allow us to better scale our technical infrastructure environment without having to invest in hardware. Within the product innovation area, we have, among other things, launched improved search functionality, multiplay on mobile devices and new, exclusive casino games for LeoVegas customers.

Financial targets
We reiterate our ambitious financial targets to achieve EUR 600 m in revenue and EBITDA of EUR 100 m by 2021. We want to clarify that the targets are based primarily on organic growth, but also include revenue from potential future acquisitions.

Comments on the third quarter
Revenue for the month of July was EUR 29.7 m (27.1), representing growth of 9%.

LeoVegas has opted to not apply for a licence in the recently re-regulated Swiss market, and as a result we are no longer accepting business in that market. Switzerland accounted for EUR 2.2 m in revenue during the second quarter.

Our current assessment is that the Group’s marketing costs will increase during the third quarter compared with the second quarter, both in relation to revenue and in absolute figures.

Final words
We have once again presented a quarter with organic growth combined with good profitability. The investments made in 2018 and efficiency improvement work carried out thus far in 2019 are beginning to generate returns in the form of greater scalability of operations. Despite this, we are not content and are working continually to be even better. The external market environment in several key markets is currently more turbulent and difficult to predict than previously, which is creating new challenges and requirements, but at the same time it is presenting major opportunities for us to grow and take market shares. We continue to focus on becoming the global casino company number 1 – we are King of Casino!

Advertisement

Kasynos.Online




PINUP CASINO

Latest News

BTOBET TO SHOWCASE FULL RETAIL SOLUTION AT ICE LONDON

Published

on

Reading Time: 2 minutes

 

BtoBet, the leading provider of interconnected omni-channel sports betting solutions, has ramped up its Self-Service Betting Terminal (SSBT) and Over The Counter (OTC) solution, with the systems being showcased at the company’s stand at ICE London, N5-150, to be added to its currently available retail solution, that is already live in multiple markets.

An expansion of its GLI-33 certified sports betting Neuron 3 platform, the new retail solutions were built for mature markets such as Europe and the North American market, and will connect land-based estates seamlessly to any online operation.

The new SSBT solution is highly modular allowing different display options based on business preferences, and provides players with the operator’s full online betting offer.

The introduction of the new OTC solution, with its advanced user account management and ability to control the odds displayed in multiple TV devices provides operators with a complete retail sportsbook solution, enabling them to deliver a superior betting experience.

All the bets placed on both the SSBT and OTC are visible in the dedicated back-office via a detailed reporting system, enabling managers to have a complete overview of their betting operations, thus ensuring a highly competitive retail sportsbook.

Dima Reiderman, Managing Director at BtoBet said: “BtoBet’s new retail solutions have been the culmination of a lot of hard work to get our retail proposition into a strong place. The company combines best-in-class technology with human technical expertise to deliver a fully customizable retail operation. The solutions are not solely aimed for those bookmakers with a retail network, but even for casino operators which can now offer their own sportsbook and control their brand and player experience, seamlessly cross-promote and drive revenues across their entire business.

“Our aim is to be the first-shop-stop for operators looking for a quality, flexible, and superior sportsbook performance, whether online or retail. We constantly seek to support our operator partners drive incremental revenues and we’re confident that our premium retail solutions, with their heightened functionality, will help that further.”

Visit BtoBet at stand N5-150 for a detailed demonstration of its new retail solutions.

Continue Reading

Latest News

Wizard Games adds Yoganand Aiyadurai as Director of Game Technology

Published

on

Wizard Games adds Yoganand Aiyadurai as Director of Game Technology
Reading Time: < 1 minute

 

NeoGames S.A subsidiary Wizard Games has appointed Yoganand Aiyadurai as Director of Game Technology as it continues to bolster its senior leadership team.

Aiyadurai boasts a wealth of experience across software engineering roles in a career spanning more than 28 years, including 21 years with Derivco, part of the Microgaming Group now Games Global.

Among his responsibilities at Wizard Games will be overseeing the research and development department at the studio, as well as continuing to develop and expand the provider’s IT infrastructure to enable production demand.

In addition, he will be responsible for overseeing market planning and trends, working closely with other senior employees at Wizard Games.

It marks the latest major hire by the supplier, having appointed Simon Jagdhar as Director of Game Studio in November 2022, as it continues to expand its footprint in key regulated markets.

Joey Hurtado, Managing Director at Wizard Games, said: “We are delighted to welcome Yoganand to the growing team here at Wizard Games. We’re continuing to go from strength to strength, and someone of his calibre will allow us to scale new heights.

“We’re always striving to hire the best talent to join our team, and this reaffirms our commitment to excellence, which can be found at every layer of our business.”

Yoganand Aiyadurai, Director of Game Technology at Wizard Games, said: “I’m thrilled to be joining Wizard Games as it continues to make huge leaps in the industry.

“With a fantastic roadmap of content, and countless new partnerships on the horizon, it is an exciting time to be joining the team, and I look forward to helping us take the next step.”

Continue Reading

Latest News

Week 5/2023 slot games releases

Published

on

Week 5/2023 slot games releases
Reading Time: 5 minutes

 

Here are this weeks latest slots releases compiled by European Gaming!

Betsoft has released Hearts Desire, a brand new slot with an amorous spin on the classic fruit machine. True love lasts forever, so get ready to fall in love with slots all over again in this fantastical five reels, 30 paylines classic release. Packed with features, Hearts Desire gives Stacked Mystery Reels and a Multiplier Scatter in the unique Free Spins round

 

The well-known bullfighter and media personality from Cádiz, Canales Rivera, makes his debut as the protagonist in the new instalment from MGA Games. “Canales Rivera La Feria de Abril” is a 3-reel slot game equipped with the latest technology that offers players a walk through the most famous fair in Andalusia in the company of a bullfighter.

Premiere of "Canales Rivera La Feria de Abril" by MGA Games, the most localised slot game to exist on the Spanish market

 

Spinomenal, has released an all new, spellbinding instalment to the Book of Baba Yaga series, as part of the ever-expanding Spinomenal Universe. Book Of Baba Yaga – Winter Spell is the perfect follow up to match the current Winter season, promising to be more rewarding than ever. Following the success of the original version, the mystical Book of Baba Yaga has returned to screens in a new form.

Spinomenal casts new Book Of Baba Yaga - Winter Spell slot

 

Yggdrasil, the leading worldwide publisher of online gambling content, has rolled out a cyberpunk crime caper in its latest release, Neon Villains DoubleMax™. Always a favourite amongst players, the heist theme delivers a feeling of thrill and excitement that quite simply can’t be matched!

Prepare for the most audacious heist of the year in Yggdrasil’s release Neon Villains DoubleMax™

 

ELA Games, launched a new game called “Wild Piranha” which takes players through the winding rivers of South America, in search of many hidden treasures. This high-volatility title depicts an animated waterfall full of colourful creatures such as a piranha, wild fish as well as an array of vivid symbols that award players handsomely when landing on the reels.

ELA Games releases its new “Wild Piranha” slot to its portfolio

 

Get ready to ignite the western frontier with Chilli Bandits, the latest slot game from Slotmill. This spicy video slot stars “Chilli the Kid”, “Belle Pepperr”, and “Clint Heatwood”! Join the Chilli Bandits as you spin the reels and watch the stacked Chilli wilds bring extra excitement to your game. These special symbols have the power to double your ways, split into multiple symbols and reveal mystery symbols thereby increasing the chances of hitting big wins!

Spicy new slot from Slotmill

 

Swintt is inviting players to brave the icy winter weather and join them for another unforgettable slot adventure in Bloxx Arctic – a brand-new release in the studio’s Premium range that features Free Spins and special Bloxx bonuses. Played out across a 5×3 reel set that includes 30 fixed paylines, Bloxx Arctic sees players venture to the globe’s polar region to unearth prizes of up to 3,500x their stake.

Swintt braces players for a blizzard of bonuses in new Bloxx Arctic slot

 

Slot fans can get their teeth stuck into action-packed adventure Crazy Crocs, the latest feature-filled game from Reevo, that awards Wild upgrades, Multipliers, Cash Spins and incredible surprises. Players take on the role of a fearless hunter and travel through treacherous swamps using boomerangs, boosters, knives and rifles to hunt for golden crocodile eggs and big wins in one of the standout titles of this beginning of year.

Reevo launches feature-filled slot adventure Crazy Crocs

 

At the heart of an ancient temple treasures lie in wait as Play’n GO write a new legend into their portfolio of premium slots with their latest release, Legacy of Inca. An easy-to-follow game that will appeal to both newcomers to slots and enthusiasts alike, Legacy of Inca sees the return of the Wheel of the Gods feature which can be found in the titles mentioned previously. But there’s a twist.

Ancient treasures await in Play’n GO’s Legacy of Inca

 

RubyPlay announced that it has built and launched a custom, bespoke football-themed slot for Holland Casino Online. Eredivisie Goal Collect has been designed to be innovative and intuitive so that players can immerse themselves in the action from the very first spin, including picking their favourite Eredivisie team to represent the Wild symbols in the game.

RubyPlay Develops First Bespoke Football Slot for Holland Casino Online

 

Pragmatic Play, a leading content provider to the iGaming industry, has reimagined the infamous adventurers of Sherwood Forest in the latest release, Fire Archer™. Money pouches, beer and feathered hats make up the symbols of this 5×5 release, which is home to 25 paylines. Players will need to create matching combinations of these symbols to be awarded a win.

PRAGMATIC PLAY HITS THE TARGET IN FIRE ARCHER™

 

Playson, has released Bozo Cats – a 3×5 slot featuring an interactive Free Spins mode with Sticky Wilds as its main feature. The latest addition to Playson’s portfolio of high-quality online casino games is centred around the lives of furry friends, who scour the streets in search of Golden Scatter symbols and Wilds to reward players.

Enjoy purr-fect fun in Playson’s Bozo Cats

 

“Autobahn Automat”, the latest Premium Series slot from German company Hölle Games, is now available in MGA territories. As the title suggests, the Berlin-based start-up went with a distinctive style in their new, 5×3 Hold & Win slot – the German Autobahn! This is a legendary icon both in and out of the country, and a unique theme that hasn’t received much attention in the slot industry – until now.

 

PopOK Gaming is excited to announce the release of its bold and sensual new video slot, Hot Angels. This game intrigues slot lovers with its stunning visuals and breathtaking wins. With its seductive design and attractive features, Hot Angels will provide players with a unique form of entertainment. The slot features Respins in the main game, but there is also a Free Spins round during which the mystery lady joins the adventure.

PopOK Gaming released a new video slot Hot Angels

Continue Reading

Trending

Get it on Google Play

European Gaming Media and Events is a leading media and boutique event organizer in the European Union with a monthly reach of +110,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2022 European Gaming Media and Events. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

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