LeoVegas AB Q3: Quarterly report 1 July– 30 September 2020 – European Gaming Industry News
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LeoVegas AB Q3: Quarterly report 1 July– 30 September 2020

George Miller

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LeoVegas AB Q3: Quarterly report 1 July- 30 September 2020
Reading Time: 4 minutes

 

THIRD QUARTER 2020: 1 julY–30 september

  • Revenue increased by 1% to EUR 88.9 m (88.2). Organic growth in local currencies was 2%.
  • EBITDA was EUR 11.9 m (12.7), corresponding to an EBITDA margin of 13.4% (14.4%).
  • The number of depositing customers was 438,691 (347,464), an increase of 26%.
  • Earnings per share were EUR 0.04 (0.05) before and after dilution, while adjusted earnings per share were EUR 0.08 (0.09).

Events during the quarter

  • GoGoCasino and Livecasino.com launched in Finland. An international launch of both brands is in progress.
  • Operations in Sweden have been affected by the temporary restrictions that were introduced on 2 July as a result of Covid-19
  • LeoVegas increased its ownership in the e-sports betting operator Pixel.bet to 85% from 51% previously.
  • Operating profit for the quarter includes costs of EUR 0.5 m in organisational streamlining and optimisation measures. Yearly net savings from these measures is expected to total EUR 1.5 m starting next year.

Events after the end of the quarter

  • Preliminary revenue in October amounted to EUR 33.0 m (26.0), representing growth of 27%.
  • Royal Panda has relaunched in Finland on the Group’s proprietary technical platform.
  • LeoVegas has launched Bingo as new product category.
  • Ahead of the forthcoming regulation of the German market, effective 15 October a number of changes have been made that affect the customer offering. This had a slight negative impact on revenue in October. LeoVegas expects to receive nationwide licences for the German market once they are available.

 

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

THIRD QUARTER 2020
Once again, we have shown our ability to quickly adapt to new, external circumstances, such as those related to the continuing pandemic and the constant regulatory changes in our various markets. During the third quarter we maintained a high pace of innovation and investment, which is strengthening our long-term position and growth prospects.

During the quarter our customer base again reached a new record level. The number of depositing customers grew 26% compared with the same period a year ago, which confirms the strong development of our business. This is partly attributable to the ongoing structural shift from land-based gaming to online, but above all to our focus on creating the best product and experience for our customers. We continue to optimise scalability and reduce complexity in the organisation. During the quarter, among other measures we realised synergies from previous acquisitions and instituted a clearer organisational and Group structure. This has led to a slight level of staff redundancy, and operating profit was charged with EUR 0.5 m for measures coupled to this. At the same time, we estimate that yearly net savings from these measures will amount to roughly EUR 1.5 m starting with next year. Our efficiency improvement work equips us for continued profitable growth and makes us – combined with greater diversification of the revenue base – more resilient to rapid fluctuations in individual markets.

MARKETS
We had a favourable development in most of our markets during the quarter, with our growing customer base as the main driver. Many markets had double-digit growth compared with the same period a year ago.

In Sweden we are seeing a troubling development in which the unlicensed market continues to grow unhindered. A growing number of operators without licences are actively targeting Swedish players, including those who have been barred by the self-exclusion tool Spelpaus. This has been confirmed by, among others, several organisations that provide help to people with a gambling problem. These organisations have noted that the majority of those seeking help are playing with the unlicensed operators. The problem is big and is shaking the foundation of the entire Swedish licence system. Quick and strong measures are now needed by Swedish politicians and authorities to ensure a well-functioning Swedish gaming market.

In Germany the federal states have agreed to introduce a licence system for gaming, which is expected to be implemented during the second half of 2021. We are looking forward with confidence to Europe’s largest market finally being regulated. Ahead of implementation of the licence system, it is expected that operators will carry out certain limitations in their respective customer offerings in advance. LeoVegas has already begun implementing such limitations, which will initially have a negative impact on revenue. Details on regulation of the German market are provided in the Legal update section in this report. LeoVegas today has a licence in the German state of Schleswig-Holstein and expects to receive nationwide licences once they are available. Germany generated approximately 17% of the Group’s total revenue during the third quarter.

technology and products
The quarter was intense for our technology and product organisation, with the completion of a number of major projects. For example, we implemented the German regulatory requirements on short notice and launched the GoGoCasino and Royal Panda brands in Finland on our proprietary platform. We also are seeing higher demand for broader entertainment games among our players and therefore recently launched our Bingo product.

comments on fourth quarter
Preliminary revenue for the month of October amounted to EUR 33.0 m (26.0), corresponding to annual growth of 27%. The changes introduced in the German market on 15 October have had a slightly negative impact on revenue.

With a positive start to the fourth quarter, a record-large customer base and many exciting initiatives I am looking forward to a strong end to the full year.

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: 2874453 or join at the web https://edge.media-server.com/mmc/p/budae7ar

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Week 2/2021 slot games releases

George Miller

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Week 2/2021 slot games releases
Reading Time: 6 minutes

 

Here are this weeks latest slots releases!

GAMOMAT, one of the leading independent slot game developers, has launched its latest spectacular title, Crystal Strike. Energy Spheres also hide within the Crystal Cave and when revealed they trigger respins and spread into large Wild blocks to enable huge wins. Crystal Strike is a 5-reel and 4-rows, 20 fixed-payline slot that is highly volatile. RTP stands at 96.17% and the title is available to all ORYX partners via ORYX HUB and for social gaming via WHOW.

GAMOMAT on target with Crystal Strike

 

Serve 25 to life with Nolimit City´s San Quentin xWays. The award-winning, Malta based Software Provider behind some of the most talked about titles in the industry, are back to kick-start the new year. Taking a different turn on the creative side, the team behind the chaos filled Punk Rocker hit game wanted to amp things up and smack the senses out of any unwitting player; introducing their high-octane, unforgiving, relentless first slot game of the year – San Quentin xWays®. As you enter the gritty prison yard you’ll get to meet with an ensemble of interesting personalities such as Heinrich 3rd, Crazy Joe Labrador and Beefy Dick, that will all make sure that you stay on your toes. Pick your new acquaintances wisely, and make sure that you don’t cross any lines, or you might end up with a shank in your back!

Nolimit City presents San Quentin xWays

 

Inspired Entertainment, Inc is pleased to announce the launch of Reel Lucky King Megaways™, an Irish-themed six-reel slot game, available online and on mobile. Giving players the chance to experience the luck of the Irish, Reel Lucky King Megaways™ features cascading wins, the notorious Reel King Dings, a Free Spins trail and big bonuses throughout. Developed with the Megaways™ game mechanic, Reel Lucky King Megaways gives players 117,649 ways to win on every spin. The game’s colourful background, iconic Celtic symbols, Irish-themed imagery along with its vibrant and ebullient Reel Lucky King character creates a strong visual impact. In addition, its traditional folk Irish acoustic soundtrack offers players an immersive experience.

Inspired Launches Reel Lucky King Megaways™ – an Irish-themed Online & Mobile Game

 

Relax Gaming, the igaming aggregator and supplier of unique content, is kicking off the year with another blockbuster slot game, Kluster Krystals Megaclusters™. The title is Relax’s first take on Big Time Gaming’s Megaclusters™ after becoming the first supplier to gain IP rights to the popular mechanic, with every spin bringing the possibility of upgrading symbols for an incredibly rewarding player experience. Winning clusters kick things up a notch, causing all neighbouring symbols to upgrade to a double, triple or quad. The feature also applies to multipliers, boosting them by up to three times their starting value, causing win potential to soar. Serving up even more action is the treasure trove of Krystals, with three mini features that are guaranteed to trigger a sequence of six avalanches, each offering the chance for players to enhance their game.

Relax Gaming shines with Kluster Krystals Megaclusters™

 

iSoftBet, the award-winning online games supplier and content aggregator, invites players to ride the reels in its latest galloping hit Mighty Stallion Hold & Win. Set in the Wild West, the 3×5 slot combines both a free spins and respins bonus feature alongside iSoftBet’s highly popular Hold & Win mechanic that has sent many of its titles to the top of the slot charts in the last year. Taking iSoftBet’s Hold & Win format, players start with an initial three respins, which reset every time a fireball lands on the reels. If all 15 reel spots are filled, a gigantic 1,000x a player’s stake is awarded. Players’ chances of winning are not just limited to respins. Within base gameplay, the Mighty Stallion Wild Spin can be triggered at any time, where giant Wild Stallion symbols will spin through, with any landing turning into colossal wilds.

iSoftBet saddles up for thrilling adventure in Mighty Stallion Hold and Win

 

GAMING1 has launched its latest engaging slot game, Faëlorn. The 5×3 title invites fearless players to select their hero from a choice of eight, before chasing archenemies across the fields, mountains and deserts where the game is set. The fun-filled release’s cutting-edge SpinQuestTM feature allows intrepid slots players to win a guaranteed jackpot at the end of the adventure, by vanquishing all the rivals of the slot’s eight heroic characters. Live bonus options, free spins and HiRoller games for experienced enthusiasts can all be discovered along the way, with players taking a well-deserved break at the tavern to enjoy a game of cards with their trusty companions.

GAMING1 embarks on a magical quest in Faëlorn

 

This week sees the launch of the latest Play’n GO title; an entertaining underground adventure, Miner Donkey Trouble. Another slot with a richly developed narrative to immerse their players, Miner Donkey Trouble. The story revolves around the Miner and his donkey, Trouble. When a cave-in separates the Miner from Trouble, he must frantically dig his trusted mule out, collecting hidden gold and gems along the way. The fully developed characters and strong narrative are paired with a fun, detailed art style that fully captures the game’s feel.

Play'n GO Release a Gem With Miner Donkey Trouble

 

Pragmatic Play, a leading content provider to the igaming industry, takes players to the land of the Pharaohs in its latest game, Mysterious Egypt. The 3×5, 10-payline video slot allows players to contribute to the expansion of Ancient Egypt in search of unfathomable wins. The base game features modifiers that mix up the immersive experience, including a brand-new mystery scatter symbol that is selected on each spin. The symbols, based on Egyptian artefacts, range from low-paying classic icons to more premium symbols, represented by birds, cats, pyramids, and the special Eye of Horus. The highest paying symbol in Mysterious Egypt is the Eye of Horus, which pays 500x for landing five across a payline. On every spin a special mystery symbol is randomly selected which can expand vertically to cover a reel. Three or more Scatter Symbols trigger the Free Spins mode. The Scatter also acts as a wild throughout all gameplay modes.

Pragmatic Play Reveals a True Gem in Latest Slot Mysterious Egypt

 

Blueprint Gaming has enhanced its hugely popular Jackpot King series for the new year with the inclusion of the classic gaming title, 7’s Deluxe. Following the successful additions of Reel Time Gaming (RTG) transitioned games to the Jackpot King progressive system, such as Eye of Horus and Fishin’ Frenzy, the company has moved to broaden the appeal of the industry’s leading jackpot offering with this latest entry. Only three Jackpot King symbols are required to gain entry to the Wheel King in this scorching-hot slot, where anticipation goes into overdrive with the potential to win big from one of three progressive pots. The original RTG game holds extensive market appeal across Europe, particularly within newly-regulated territories. The fruit machine inspired title is based on the classic sevens game and includes Wild Seven Substitutes, where the flaming 7 wild symbol substitutes the classic 7 symbol for extra wins.

Blueprint makes flaming hot addition to Jackpot King with 7’s Deluxe release

 

Playson has unveiled an enthralling new slot title, Super Sunny Fruits: Hold and Win. Following on from the beloved Playson hit Sunny Fruits: Hold and Win, the developer’s latest game enhances that popular classic with the collecting symbol being added to Hold and Win mechanics, which remain a firm favourite among fans throughout the globe. In another exciting twist, the 3×5 title features a new Super Sun Bonus symbol that appears only during the Bonus Game. The symbol collects all visible Bonus Symbol values and adds them to its own total, giving players a thrilling chance to claim even bigger wins. Super Sunny Fruits: Hold and Win marks the most recent addition to Playson’s highly acclaimed Funky Fruits portfolio, comprising smash-hits such as Fruity Crown and Fruit Xtreme, which has helped the studio continue attracting audiences in regulated markets across the globe.

Playson puts a fresh twist on a classic hit with Super Sunny Fruits: Hold and Win

 

GameArt is proud to announce the release of Diego: El Pibe de Oro, a slot that pays homage to Diego Maradona, one of football’s greatest ever players and one of the world’s biggest personalities. Officially licensed through Applovesoft, it’s a game that will resonate with millions of fans around the world. Already in development months before the world lost a hero, GameArt delayed the release out of respect, and now hopes the game can help keep his spirit alive for his millions of fans around the world. Players can join Diego for an evening of wealth and glitz in a stunning slot featuring plenty of free spins, a novel Low Pay Wild upgrade, offering the opportunity to give luck a helping hand.

GameArt’s Tribute to a Legend, Diego: El Pibe de Oro

 

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EXCEL ESPORTS unveils partnership with iconic lollipop brand Chupa Chups

George Miller

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EXCEL ESPORTS unveils partnership with iconic lollipop brand Chupa Chups
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The exciting partnership sees Chupa Chups become the Official Candy Partner for EXCEL ESPORTS’ League of Legends teams and will see the partners work together on an exclusive, fun content series

British competitive gaming culture brand EXCEL ESPORTS has today announced a partnership Chupa Chups, a Spanish confectionery brand which is owned by major confectionery manufacturer Perfetti van Melle. The partnership will see Chupa Chups become the Official Candy Partner for EXCEL’s full League of Legends roster which competes across both the League of Legends European Championship and the Northern League of Legends Championship. The partnership will help align EXCEL’s new Power of Better identity with Chupa Chups’ Forever Fun belief, that encourages everyone to keep their childish spark alive throughout their life.

As part of the partnership, EXCEL and Chupa Chups will work closely together on a fun content series called Sweet or Yeet, which will involve EXCEL’s League of Legends players being asked quickfire questions and either being rewarded with a sweet treat for answering correctly, or being asked to eat something gross if they get the answer wrong. Both parties will also collaborate on social media posts together, including celebrations and League of Legend happy birthday assets. The Chupa Chups logo will also be featured on both the LEC and BTXL players jerseys which are due to be released in the coming weeks.

“We are very excited to partner with such a globally recognised brand in Chupa Chups, a business we naturally align well with given the fun and youthful nature of both our organisations, industries and audiences. It’s always fantastic to work with non-endemic brands that appreciate the culture of our industry and we’ll work with Chupa Chups to create engaging, fun content that works for both our audiences. At EXCEL ESPORTS we are always striving to be better and we are excited to kick off 2021 with a partnership which helps further build on our vision,” said Robin McCammon, Chief Commercial Officer, EXCEL.

“We are thrilled to have found a partner in EXCEL ESPORTS, an organisation that shares many of the same values and audience, with both youth and fun in our core identities. The partnership was long-awaited given the numerous times our consumers have said that lollipops are the favourite sweet to enjoy while playing. We are excited and looking forward to working closely with EXCEL ESPORTS by making fun and engaging content that our audience will surely love,” said Eva Karkoni, International Brand Manager at Chupa Chups.

EXCEL’s LEC team will officially begin its League of Legends European Championship campaign on Friday, January 22nd, while the BTXL team will kick off it’s Northern League of Legends Championships season on Tuesday, January 19th. Both rosters welcome new coveted talent as EXCEL aspires to have its most successful year to date.

2020 was a landmark season for EXCEL as its LEC team received its best results yet, narrowly missing out on a playoffs spot, while also undergoing a brand update and unveiling footballer Dele Alli as it’s new global ambassador. On Sunday, January 10th, a brand new BBC documentary, Fight for First: EXCEL ESPORTS will be available to stream on BBC IPlayer. Voiced by Golden Globe and BAFTA nominee Cillian Murphy, the five-part series follows the team as they experience the highs and lows of competing in Europe’s biggest esports league.

 

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SAZKA Group Appoints Justin King as National Lottery Bid Advisor

Niji Narayan

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SAZKA Group Appoints Justin King as National Lottery Bid Advisor
Reading Time: < 1 minute

 

Sazka Group has announced Justin King, former chief executive of supermarket chain Sainsbury’s, as the first appointment to a new advisory board to support its bid for the fourth UK National Lottery licence.

The Czech conglomerate marked King’s appointment as a major coup in its ambitions to replace Camelot UK as operating company of the National Lottery, a contract Camelot has served since its inception in 1994.

“Getting people back to their local high street post-Covid-19 requires fresh thinking, an innovative approach, and recognition that the National Lottery can play an integral role in that recovery,” King said.

“I’m teaming up with SAZKA Group to make the National Lottery better. We need to revitalise this precious institution by bringing back those customers that have stopped playing, while making it relevant and exciting for new audiences too.

“A vibrant and growing lottery is the only way to guarantee more funding for good causes, which is crucial for helping Britain to build back better.”

SAZKA Group’s UK Bid Chair Sir Keith Mills said: “With Justin on board, we will present a plan that modernises retail channels to ensure that not a single National Lottery player or retailer is left behind. Justin’s experience will also be of huge benefit for our transition plans which must be submitted to the Gambling Commission as part of our bid.

“Over the next few weeks, I look forward to welcoming more experts to our team, who will help us to share our vision for the National Lottery as the Fourth Licence Competition progresses.”

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