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Invitation: LeoVegas Group second quarter 2022 results presentation
Reading Time: 4 minutes


“Record quarter in Sweden!” – Gustaf Hagman, Group CEO


  • Revenue increased by 12% to EUR 99.4 m (88.9). Organic growth in local currencies was 8%.
  • Excluding Germany, growth was positive 31%.
  • EBITDA was EUR 11.5 m (11.9), corresponding to an EBITDA margin of 11.6% (13.4%).
  • The number of depositing customers was 469,721 (438,691), an increase of 7%.
  • Adjusted earnings per share were EUR 0.07 (0.08).


  • LeoVegas repurchased shares for EUR 2.5 m and paid out the second dividend (EUR 3.9 m) of a total of four quarterly dividends to the Parent Company’s shareholders.
  • LeoVegas expanded its existing bond issue by SEK 200 m.
  • LeoVegas launched new AI-powered functionality to scale up the Group’s efforts surrounding responsible gaming. Customers in the UK were the first to receive product-integrated and personalised messages based on their own behaviours and gaming history.
  • Following recent policy changes in the Netherlands, LeoVegas decided to stop providing its services in the country as from 30 September 2021. The Netherlands accounted for 6% of the Group’s total revenue during the third quarter, with higher profitability than for the Group average. LeoVegas will apply for a licence in the Netherlands during the fourth quarter.


  • Preliminary revenue in October amounted to EUR 31.1 m (32.8), corresponding to negative growth of 5%. Excluding Germany and the Netherlands, revenue increased by 21%. The sportsbook margin was abnormally low in October, which had a negative impact on revenue, while underlying customer activity has remained strong.
  • The Swedish government has confirmed that the restrictions for online casino remain in effect through 14 November 2021 and will not be extended thereafter.


We are satisfied with our performance during the third quarter and increased our revenue by 12% compared with the same period a year ago. Excluding Germany, which has been dramatically affected by the ongoing re-regulation, consolidated revenue increased by 31%.

All key markets performed well during the quarter, where our home market in Sweden was the brightest star. The favourable revenue growth for the Group confirms that the strategy to simultaneously scale up a number of markets and relaunch the Expekt brand has been a success. The company today is more diversified than ever, and we have succeeded in compensating for the sharp drop in revenue in Germany.

During the quarter we delivered a stable operating profit compared with a year ago, despite a sharp increase in paid gaming taxes and higher marketing investments in relation to revenue compared with a year ago. In pace with growing revenue, the share of marketing investment is expected to gradually decrease from the current levels. At the same time, we have continued to invest in product and technology ahead of forthcoming market expansions, including the upcoming US launch. We are seeing some normalisation of office and travel-related costs as the pandemic is hopefully nearing its end, while general cost control in the Group continues to be good. All in all, we expect – through the economies of scale provided by a larger revenue base – to be able to deliver good earnings growth going forward.

Sweden had a good quarter in which both revenue and the customer base reached new, record levels. The acquisition of Expekt has exceeded our expectations, and the strong growth since its re-launch at the end of May confirms that the brand’s sport profile is appreciated by customers. The LeoVegas brand has also performed well, which shows the power of well-known brands combined with a competitive product. It is positive that the company can show strong performance in one of the world’s most competitive and strictly regulated gaming markets. Other markets that performed extra well during the quarter included Italy, Spain and Canada, all of which grew between 40% -70% during the third quarter.

It is an intensive re-regulation period with simultaneous implementation of local regulations in the Netherlands, Germany, and the Canadian province of Ontario. Internal preparation work is going full throttle to make us ready for the new regulations. In parallel we are conducting development work to adapt our proprietary technical platform ahead of our expansion to the USA next year.

Re-regulation processes can be turbulent and arbitrary. Such has been the case in the Netherlands, when the authorities changed their policies with short notice at the end of September, entailing that all gaming operators that had not yet been granted a gaming licence were forced to stop providing their services in the country. The company’s sales and earnings will thus be negatively affected starting with the month of October. The Netherlands accounted for 6% of the Group’s total revenue during the third quarter, with higher profitability than the Group’s average. LeoVegas will apply for a licence in the Netherlands later this year.

Developments in the market, with numerous re-regulation processes in progress and a number of regulated markets that are implementing new laws and new interpretations of regulations, are creating a somewhat turbulent and difficult to navigate current situation in the gaming industry. However, as the conditions gradually clear, we have a firm positive view on the outlook, as regulated markets create a more sustainable environment to work in, while the long-term growth potential in the online segment of the industry is enormous. The new regulatory environment favours established and well-invested operators like LeoVegas with competitive products, well-known brands and focus on responsible gaming.

Revenue for the month of October amounted to EUR 31.1 m (32.8), representing negative growth of 5%. Excluding Germany and the Netherlands, revenue increased by 21%. The sportsbook margin was abnormally low in October, which had a negative impact on revenue, while underlying customer activity has remained solid.


ALTAIR BREAKER Launches Globally on Steam and Meta Quest Store



ALTAIR BREAKER Launches Globally on Steam and Meta Quest Store
Reading Time: 2 minutes


Test your sword-wielding skills in this fantasy adventure VR action game

Thirdverse, Inc. today launched the VR sword-fighting actual game ALTAIR BREAKER for the Meta Quest 2, Oculus Rift and Valve Index. Players can test their sword-wielding skills, team up with three friends and battle against AI creatures in an expansive fantasy world. ALTAIR BREAKER will be available for purchase starting today at 10:00AM PDT, at a set price of $24.99 on Steam and Meta Quest Store.

Teruyuki Toriyama, Producer at Thirdverse, said: “ALTAIR BREAKER was developed by combining the VR game development know-how gained by the young game creators of “Swords of Gargantua” with more advanced consumer action game techniques. The idea was to create a new VR sword-fighting action game that can be easily enjoyed by users who are new to VR games, rather than the realistic sword-fighting simulators often seen in VR. The setting of this work is a virtual world called “ALTAIR,” an abandoned island in the void ruled by an experimental combat AI. The worldview incorporates elements typical of Japanese fantasy anime, such as mecha and fantasy, as its main theme. Players can easily experience sword-fighting action that transcends reality, just like a hero in such a world in VR. We hope you will enjoy the high-speed VR multiplayer sword-fighting action that is unique to this title. We will also continue to collect everyone’s feedback in order to deliver more and more content that our users can enjoy.”

To commemorate the release of ALTAIR BREAKER, ongoing campaigns will be open for everyone to participate in and have a chance to win a Meta Quest 2 headset and an Amazon Gift Card of the value of $300, as well as livestream on Twitch on selected channels with our partner creators.

Key Features in ALTAIR BREAKER:

  • Transcendent VR Sword-Fighting: Designed with casual players in mind, ALTAIR BREAKER brings a “new generation of VR sword-fighting action” to the VR world featuring high-speed sword-fighting action, blow-ups, aerial combos, and wide-range attacks with special moves.
  • Unique Battle System:Move from map to map while enjoying the feeling of transcendent sword fighting. Take advantage of your surroundings by climbing and gliding to easily take on enemies.
  • Experience a wide range of attacks only possible in the VR world, like Shockwaves and Surge Mode.
  • Expansive World of ALTAIR: The game takes place in an aerial city ALTAIR, where AI was created to develop singularity-like creatures. Once a group of islands in a sea of clouds, most of the islands have collapsed and only floating ruins remain, which are inhabited by LAWS, the experimental battle AIs left behind and free to wander around.
  • Freedom of Movement: Glide through the air using your glider or climb the walls of a fortress as movement is possible in all directions in VR space. The entire map is your battlefield!
  • Cross-Platform Four-Player Co-Op: Multiplayer gameplay between Meta Quest 2 and PCVR, leaving players free to be matched with players from all over the world and communicate via voice chat.
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PopOK Gaming Has Received a Certificate for Latvia



PopOK Gaming Has Received a Certificate for Latvia
Reading Time: < 1 minute


The innovative iGaming developer PopOK Gaming is now certified for Latvia. 

Further expanding the scope of its activities, PopOK Gaming also reaches Latvia. 18 of the most beloved games from our portfolio, namely Yummy, Lost Treasure, Diamond Flash, 20 Hot Bar, Sultan’s Tale, Los Apaches, Lucky Jungle and the like, as well as the 4-level Progressive Jackpot are now available for locals to try and delight in the fun environment our games will definitely create. This approval is yet another proof of continual momentum PopOK Gaming has been enjoying, opening new doors for our partners to grow their business and powerfully contributing to their revenue streams.

PopOK Gaming Product Manager, Tsovinar Elchyan, said: “This achievement is another important step forward for PopOK Gaming and an impetus for continuous improvements. After receiving the green light to provide our games in Latvia, we are keen on ensuring a remarkable gaming experience for local players and establishing long-term partnerships with our partners.”


PopOK Gaming belongs to Soft Construct (Malta) Limited that holds II Class licence (2239) granted by GLI (Gaming Laboratories International).

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Introducing – your one-stop shop for information and the best casino listings online



Reading Time: 2 minutes has officially launched and is already making a big splash in the online casino world. They aim to become the most extensive website about fast payout casinos and are well on the way. The website is packed with information on the latest releases, bonuses, games, and tips and advice from their team of experts.

Players can trust CFP to provide only quality information and the best casino listings online. With payout speed being their number one priority, players can be sure that CFP always has their best interests at heart.

The fastest-paying casinos reviewed

CasinoFastPayout (CFP) is today announcing its official launch as the go-to resource for players looking for speedy payouts from their chosen online casino operator. The site promises comprehensive guides to play at some of the most reputable gaming destinations as well as up-to-date news on what’s hot in the iGaming world right now – all with an emphasis on getting your money into your hands as quickly as possible!

“We are excited to announce the launch of our new website, designed to help casino players find the best fast-paying casinos. Our team of experts have years of experience in the industry, and we have used that knowledge to create a comprehensive resource packed with information on the best casinos online. All of our recommendations have been selected with payout speed in mind, so you can be sure you’re getting the most out of your gaming experience.”

Half a Century’s Worth of Experience has assembled a smashing team of local experts who will keep you fully informed on everything related to getting paid quickly when enjoying online casino entertainment.

With a combined experience of a near half-century, the team at will surely know what’s up. Led by Dan James, who is genuinely dedicated to help players navigate the online gambling industry and to find the best of the best when it comes to casinos with fast payouts. On top of that, industry veteran Max Deranker joined the venture as an investor.

That Honest Friend is not a website built to recommend casinos; the goal is to recommend the best ones that will live up to the players’ expectations. And to avoid providing carefully masked affiliate links leading players to choose the wrong online casinos and losing their trust in the recommending website.

“We aim to be the honest friend you turn to when you want to know, and we promise to always let you know when you have spinach between your teeth,” says Dan James.

From Malta to all over the world

The team behind the website is currently operating from Malta. One of the world’s biggest hubs for online gaming. As for now, the website is focused on markets such as Canada, the UK, and New Zealand. With time the aim is to grow and expand the team. And to add more experienced team members to cover more markets and continue helping players all over the world.

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