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LeoVegas AB Q1: Quarterly report 1 January – 31 March 2021

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LeoVegas Group to acquire game developer Push Gaming
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“A good start to the year and increased focus on sports”
Gustaf Hagman, Group CEO

first quarter 2021: 1 january–31 march        

  • Revenue increased by 8% to EUR 96.7 m (89.4). Organic growth in local currencies was 8%.
  • Organic growth when excluding Germany was 19%.
  • Adjusted EBITDA was EUR 10.9 m (9.0), corresponding to an adjusted EBITDA margin of 11.3% (10.0%). Reported EBITDA was EUR 10.4 m (9.0).
  • The number of depositing customers was 462,386 (413,269), an increase of 12%.
  • Adjusted earnings per share were EUR 0.07 (0.06).

events during the quarter

  • LeoVegas acquired Expekt from Betclic Group for a total purchase price of EUR 5 m. Expekt is one of the most well-known sports betting brands in Sweden and the Nordic markets, and strengthens LeoVegas’ brand portfolio ahead of the intensive sport event years in 2021 and 2022. The acquisition of Expekt is expected to be completed in May 2021.
  • LeoVegas’ shares were taken up for trading in USD on OTCQX Markets in the USA. This is a way for the company to meet a steadily growing interest from US investors.
  • Via LeoVentures, LeoVegas invested EUR 1.1 m for 25% of the shares in SharedPlay, a company that makes it possible for players to share their gaming experiences with others through the industry’s first multiplayer solution.

Events after the end of the quarter

  • Preliminary revenue in April amounted to EUR 32.7 m (37.5), representing negative growth of 13%. Excluding Germany, revenue grew 4%.
  • The Royal Panda brand has been migrated to the Group’s proprietary technical platform, Rhino. All of the Group’s wholly owned brands are now run on the Rhino platform.
  • LeoVegas has started its own game studio, Blue Guru Games, to develop new and innovative games. The studio will develop exclusive games for LeoVegas as well as for other operators. The first games will be released in late 2021.
  • LeoVegas was issued a sanction fee of SEK 2 m by the Swedish Gambling Authority. The company intends to appeal the decision.

 

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

FIRST QUARTER
We are pleased with the start of the year and increased our revenue by 8% during the first quarter. Excluding Germany, which has been affected by new restrictions related to the upcoming regulation, revenue increased by 19%. Our growth has been driven mainly by our loyal customer base, which reached a new record level during the period. We have maintained a high pace of investment, and despite this we achieved adjusted EBITDA growth of 22%, driven by our scalability and good cost control.

ACQUISITION OF EXPEKT – increased FOCUS ON SPORTS BETTING
During the first quarter we acquired the well-known sports betting brand Expekt. The acquisition gives us one more leg to grow on and complements the Group’s brand portfolio and product offering in a strategically good way. We are looking forward to Expekt once again becoming a leading sports betting brand in Sweden and thereafter also in other markets. The acquisition is expected to be completed in May in connection with our migration of the brand to our own technical platform. The timing of the acquisition is perfect as we are now facing two years filled with major sports events, and we plan to launch Expekt well in advance of the UEFA European Football Championship, which starts in June.

MarKETS
During the first quarter we saw the full effect of the changes taking place in the German market. Operators in the market are acting differently with respect to implementing the new restrictions, which unfortunately has led to a skewed competitive situation. The assessment is that up to 70%-80% of the German market for casino has temporarily been shifted over to operators that have chosen to not adapt to the coming market regulation. Our hope is that this will soon be sorted out by the German authorities, which is a prerequisite for the licence system’s success, with a high level of channelisation and consumer protection. Germany generated approximately 6% of the Group’s total revenue during the first quarter, compared with 15% a quarter earlier. Despite this development in Germany we delivered good growth at the Group level, which reflects our strong performance in many other key markets, including Italy, Canada and Spain. Our business is more diversified than ever before, and growth at the Group level is proof that our data-driven way of working and allocating marketing investments is effective.

I also want to highlight Sweden, where the strength of the LeoVegas brand and our product breadth is appreciated by our customers. Our Swedish customer base set a new record during the quarter, and in March we grew on a yearly basis for the first time since the temporary Covid-19 restrictions were implemented in July 2020.

leoventures
The first quarter was an intensive period for our investment vehicle LeoVentures. Among other things we invested in SharedPlay, a company that makes it possible for players to share their gaming experiences with others through the industry’s first multiplayer solution. For a long time we have created successful,  exclusive games with the help of external providers. We are now taking the next step by starting our own game studio – Blue Guru Games. This venture will give us full control and greater flexibility in developing new games, a unique offering to our players, and also a new revenue stream for the Group.

COMMENTS ON the SECOND QUARTER
Revenue for the month of April amounted to EUR 32.7 m (37.5), corresponding to negative growth of 13%. Excluding Germany, growth in April was positive at 4%.

Finally I want to urge you to be on the lookout for the new launch of Expekt in Sweden towards the end of May – you won’t be disappointed!

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: 6888544 or join at the web https://edge.media-server.com/mmc/p/x6q2utt4

This information is information that LeoVegas AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 6th of May 2021.

eSports

NEW YORK ISLANDERS REPRESENTATIVE ERIK ‘EKI’ TAMMENPAA EARNS HIS SIXTH EUROPEAN TITLE AT THE EA SPORTS NHL 24 EUROPEAN CHAMPIONSHIP

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In a rematch of last year’s European Championship, Erik ‘Eki’ Tammenpää, representing the New York Islanders, again prevailed over Teemu ‘Temppanen’ Karvonen representing the Anaheim Ducks to win the EA SPORTS NHL 24 European Championship title. The win marks Eki’s fourth-straight and sixth-overall European Championship title (2018, 2019, 2021, 2022, 2023, 2024) and another $15,000 USD in earnings. Temppanen placed second in the competition that took place at the Copenhagen Media Facility in Copenhagen, Denmark on Sunday evening. For a second year straight, both players will represent Europe in the EA SPORTS NHL 24 World Championship taking place in April in New York.

Eki is a full-time YouTube and Twitch content creator and EA SPORTS™ NHL® 24 expert and 24-year-old native of Helsinki, Finland. He remains the most decorated esports player on the NHL competitive circuit and will try once again to capture the World title after capturing runner up at last year’s EA SPORTS NHL 23 World Final.

During the competition in Copenhagen today, Temppanen and Eki qualified for a spot in the World Final by competing in a semifinal best-of-three round. Both players split their first two games, with Temppanen ultimately overtaking NikkeDanglesin a tight competition and Eki defeating Eken45Jr with eight goals in a Game Three shutout.

The Championship series saw a rematch of last year’s EA SPORTS NHL 23 European Final with Temppanen and EKI facing off once again. While Temppanen took the lead with an early goal in Game One, Eki scored three quick goals in a three-minute span during the second period and a game-winning goal in the third period by Vincent Trocheck (New York Rangers). Eki continued his goal streak and dominated Game Two, ultimately scoring six unanswered goals, including tallies from Jaccob Slavin (Carolina Hurricanes), Bo Horvat(New York Islanders), and Cam Atkinson (Philadelphia Flyers). Eki’s

6-0 victory solidified his sixth European title and status as “the one to beat.”

EA SPORTS NHL 24 EUROPEAN FINAL STANDINGS

1st: Eki, New York Islanders

2nd: Temppanen, Anaheim Ducks

3rd: Eken45jr, Pittsburgh Penguins

4th: NikkeDangles, Washington Capitals

5th-8th: Alphaborje, Detroit Red Wings

5th-8th: Kibeeex, Toronto Maple Leafs

5th-8th: Launonexx, Tampa Bay Lightning

5th-8th: Teemuyy, Colorado Avalanche

The EA SPORTS NHL 24 North American Championship will be contested on March 24 at the NHL Flagship Store in New York beginning at 1 p.m. ET on the NHL’s Twitch channel. For more news, fans can visit www.nhl.com/NHL24 and follow the conversation on social using #NHL24WC.

 

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TWO PAGCOR MULTI-PURPOSE FACILITIES INAUGURATED IN TARLAC

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Two Pagcor multi-purpose facilities inaugurated in TarlacPAGCOR Chairman and CEO Alejandro H. Tengco (left) turns over to Mayor Doña Cresencia Tesoro of San Manuel, Tarlac (middle) the ceremonial key for the new multi-purpose facility funded by the state gaming regulator while San Manuel Vice Mayor Atty. Benjamin Tesoro looks on.

 

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco on Monday, March 18, led the inauguration of two newly completed multi-purpose centers in the towns of San Manuel and Victoria in the province of Tarlac.

Mr. Tengco said the state gaming agency provided a total of Php100 million for both of the two-story projects.

“Naglaan ang PAGCOR ng limampung milyong piso para sa bawat multi-purpose center sa bayan ng San Manuel at Victoria; mayroon itong iba’t ibang pasilidad gaya ng kusina, storage areas para sa relief goods, toilet at shower rooms, lactating rooms at maluwag na activity area para sa iba’t ibang gawain,” he said.

 

Two Pagcor multi-purpose facilities inaugurated in TarlacStudents and teachers of Sta. Maria Elementary School in San Manuel, Tarlac greet PAGCOR Chairman and CEO Alejandro H. Tengco (8th from right, standing) and San Manuel Mayor Doña Cresencia Tesoro (7th from right, standing) during the inauguration of the PAGCOR-funded multi-purpose facility on March 18.

 

The PAGCOR chief said that because the Philippines is very vulnerable to climate change, “typhoons, floods and earthquakes are common occurrences that we must always be prepared for.”

However, he stressed that while the buildings are primarily designed as temporary shelters during emergencies, the structures can be used for various socio-civic activities, too.

 

Two Pagcor multi-purpose facilities inaugurated in TarlacPAGCOR Chairman and CEO Alejandro H. Tengco (left) and San Manuel Mayor Doña Cresencia Tesoro (right) unveil the PAGCOR logo during the inauguration of the two-story facility.

 

“During the height of the pandemic, when the project was rolled out, there was a high demand for quarantine and evacuation facilities. But now, there is more sense to call these as multi-purpose centers rather than just evacuation facilities,” Chairman Tengco said.

 

Two Pagcor multi-purpose facilities inaugurated in TarlacThe two-story PAGCOR multi-purpose facility in Victoria, Tarlac.

 

 

Two Pagcor multi-purpose facilities inaugurated in TarlacPAGCOR Chairman and CEO Alejandro H. Tengco (right) and Victoria Municipal Mayor Rex C. Villa Agustin (left) unveil the PAGCOR logo during the inauguration of the multi-purpose facility constructed by the state gaming agency in Victoria, Tarlac.

 

“You may use this facility as your social hall, events area, and livelihood training center. You may also use this building to generate revenues for the local government,” he said.

During the event, Chairman Tengco also introduced PAGCOR’s upcoming flagship programs which include school buildings for public schools, e-learning centers, community wellness centers, and socio civic centers nationwide.

“These upcoming flagship projects are designed to create lasting impact on the lives of ordinary Filipinos,” he said. “These are just some of our nation-building efforts because as you are all aware, PAGCOR is the third largest revenue contributor to the national coffers.”

San Manuel Mayor Doña Cresencia Tesoro thanked the PAGCOR chief for the agency’s support.

“We are grateful that PAGCOR saw our need. This multi-purpose center is so far the biggest project that we have seen in San Manuel, and this is proof of PAGCOR’s commitment to serve the Filipinos,” she said.

“We thank everyone who made this dream come to life. Rest assured that we will use this to enrich the lives of our people and the generations to come,” Tesoro added.

 

Two Pagcor multi-purpose facilities inaugurated in TarlacPAGCOR Chairman and CEO Alejandro H. Tengco (left) shakes hands with Victoria Municipal Mayor Rex C. Villa Agustin during the inauguration of the multi-purpose facility constructed by the state gaming agency in Victoria, Tarlac.

 

Board Member Harmes Sembrano of the 2nd District of Tarlac also expressed gratitude to PAGCOR for funding the two-story multi-purpose facility in Victoria.

“With our limited resources, we cannot afford to fund all programs that will be beneficial to the people of Tarlac. But because of PAGCOR’s help, we have this new multi-purpose facility which will serve not only the locals of Victoria but also those from neighboring towns,” Sembrano said.

PAGCOR has thus far completed and inaugurated 38 multi-purpose buildings in different parts of the country while 34 others are still under construction.

 

 

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BETSSON.SPORT DEBUTS IN ITALY WITH FRANCESCO TOTTI AS AMBASSADOR

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BETSSON.SPORT DEBUTS IN ITALY WITH FRANCESCO TOTTI AS AMBASSADOR
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Betsson.sport proudly announces the launch of its new sports infotainment platform in Italy. At the heart of this initiative as its ambassador, stands Francesco Totti, the revered Italian football legend celebrated for his exceptional talent and illustrious career.

With a focus on delivering exclusive content, interviews, news and highlights across various sporting disciplines, Betsson.sport aims to become a go-to destination for sports enthusiasts nationwide.

Additionally, Betsson.sport introduces the initiative ‘Betsson Sport Club,’ inviting teams to join and gain visibility and support alongside other participating teams. This club is open to clubs from both prominent and lesser-known leagues, offering them exposure opportunities and a platform for more visibility.

“I am thrilled to be part of this project, which aligns perfectly with my daily commitment to sharing my passion for sports,” said Francesco Totti. “Betsson.sport presents a wonderful opportunity to unite various sports clubs and helping them to realise their full potential.”

Ronni Hartvig, Chief Commercial Officer of Betsson Group, stated, “Italy holds significant importance for Betsson, and we are delighted to partner with Francesco Totti, a figure synonymous with excellence in Italian football. We think his story and experiences will help us make the Betsson Sports Club even better, promoting our values of fair play, inclusion, and passion.”

As Betsson.sport embarks on its journey in Italy, the brand is committed to innovation and collaboration. The recent partnership announcement with Roma exemplifies this commitment, marking the beginning of a series of dynamic initiatives aimed at strengthening the bond between sports and Betsson.sport.

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