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LeoVegas AB Q4: Quarterly report 1 October–31 December 2021

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LeoVegas Group to acquire game developer Push Gaming
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“Strong end to the year with many growth initiatives” – Gustaf Hagman, Group CEO

FOURTH QUARTER 2021: 1 OCTOBER – 31 DECEMBER

  • Revenue amounted to EUR 98.2 m (98.4). Revenues were unchanged compared with the same period last year. Excluding Germany and the Netherlands, revenues increased by 26%.
  • Organic growth in local currencies was -4%.
  • Net Gaming Revenue (NGR) from regulated markets and markets in which the company pays local gaming taxes was 74% (67) of total NGR.
  • EBITDA was EUR 11.6 m (11.5), corresponding to an EBITDA margin of 11.8% (11.7).
  • The number of depositing customers was 456,063 (461,983), a decrease of 1%.
  • Adjusted earnings per share were EUR 0.07 (0.08).

EVENTS DURING THE QUARTER

  • LeoVegas repurchased shares for EUR 2.1 m and distributed the third quarter dividend (EUR 3.9 m).
  • Following policy changes in the Netherlands, LeoVegas decided to stop providing its services in the country as from 30 September 2021. As such, the company had no revenue from the Netherlands in the fourth quarter (compared with 6% of the Group’s total revenue during the third quarter). The company will apply for a licence during the first quarter.
  • LeoVegas was granted renewed gaming licences by the Danish Gambling Authority.

EVENTS AFTER THE END OF THE QUARTER

  • Preliminary revenue in January amounted to EUR 35.5 m (32.5), corresponding to growth of 9%. Excluding Germany and the Netherlands, revenue increased by 24%.
  • The Board of Directors proposes an increased dividend of 5 percent to SEK 1.68 per share (1.60), to be distributed on four occasions over the course of the next 12 months.
  • LeoVegas applied for a gaming licence for the Canadian province of Ontario.
  • The establishment in New Jersey in the US is proceeding according to plan and the recruitment of a local team has begun.
  • In January, LeoVegas distributed the fourth dividend (EUR 3.8 m) of a total of four to the Parent Company’s shareholders.

COMMENT FROM GUSTAF HAGMAN – GROUP CEO

FOURTH QUARTER
I am proud of how we concluded 2021 and how we offset the revenue loss related to the ongoing regulatory changes in Germany and the Netherlands. In the fourth quarter, sales were unchanged compared with the preceding year. However, excluding the two abovementioned markets, growth was some 26%, which demonstrates our strong underlying growth.

Adjusted EBITDA improved somewhat year-on-year, despite ceasing to provide our services in the Netherlands while waiting for a gaming licence, which was previously one of our most profitable markets. At the same time, we have paid more gaming taxes than ever before during the quarter. The improved profit was achieved through good cost control and higher marketing efficiency.

During the quarter and the full-year 2021, we took several important steps as a company, which we expect to drive growth for many years to come. We increased our strategic focus on sport with the acquisition of the brand Expekt. The new launch of Expekt has been a major success, with sales increasing almost fourfold since the acquisition. We are now planning to expand into more markets. We have also commenced establishing operations in the US, where the online gaming market is still in its infancy. We are seeing significant potential for a smartphone-oriented casino expert like LeoVegas in North America, where we already hold a leading position in Canada. We also invested in our own gaming studio during the year. The first games are expected to be launched shortly and over 15 titles are planned for 2022. Our own contents provide us with a more unique gaming experience, greater customer loyalty and lower costs.

We demonstrate a high ability to adapt and continue to drive innovation even when faced with turbulent times. An increasing number of European countries are becoming regulated and some 74% of our revenue is currently regulated and/or taxed. The external market environment will remain erratic and turbulent in places, but we are well-positioned to manage this. Armed with all of our ongoing growth initiatives, I feel optimistic ahead of 2022.

MARKETS
Our underlying customer activity and growth remain favourable. In general, we are growing faster than our competitors in the markets that are not affected by major external events and where equal conditions apply for all operators. A good example of this is Sweden, where we reached a new record level during the quarter. LeoVegas is currently the largest private operator in the Swedish market, something we have accomplished with strong brands, the best product and data-driven marketing. We continue to see favourable growth prospects in Sweden.

As previously mentioned, a re-regulation period is ongoing in the Netherlands and in the Canadian province of Ontario. In the Netherlands, we decided to stop providing services to gamers from 30 September 2021 pursuant to the latest regulations. At the start of 2022, we have applied for licenses in the Netherlands and Ontario we applied for a license in Ontario and will apply for a license in the Netherlands during the first quarter. Our ongoing expansion in the US, with New Jersey as the first state, is proceeding according to plan. We have commenced recruitment of a local team and completed much of the technical development as well as initiated the certification process of LeoVegas’ proprietary technical platform (PAM, Player Account Management). We also began efforts for the expansion into additional US states.

TEN YEARS
At the beginning of 2022, LeoVegas turned ten years old. The company, our product and the entire industry has developed enormously since my co-founder, Robin Ramm-Ericson, and I, started LeoVegas. Today, the industry is much more complex with more stringent requirements and tougher competition. At the same time, LeoVegas has taken tremendous strides and matured in many areas, making us stronger than ever before. We always aim to be at the forefront of customer focus, technology and data-driveness, but also continue to continually challenge ourselves to be better in all areas. I can affirm that LeoVegas with all its employees will continue to drive the industry forward with the mobile gaming experience in the spotlight. We are continually making progress as we stand on the starting line of ten more intense and exciting years!

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Meridianbet Launches ‘Scan. Help.’ Humanitarian Initiative to Support Maternity Hospitals in Southeast Europe

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Meridianbet, a member of the Golden Matrix Group (NASDAQ: GMGI), in partnership with Meridianbet Foundation, Expanse Studios, and BC Crvena zvezda Meridianbet announces the launch of a significant humanitarian initiative, ‘Scan. Help.’, aimed at supporting maternity hospitals across Southeast Europe.

The rollout of this action to other market territories is expected in the remainder of 2024.

How It Works

For every scanned QR code and subsequent registration on the Meridian Foundation’s website, funds will be allocated towards equipping five maternity hospitals in Serbia. This innovative approach not only raises awareness but also actively involves the community in our CSR activities.

The initiative is currently ongoing with high media presence and is broadcasted during Southeast Europe’s regional basketball Finals series (ABA League). BC Red Star players wear jerseys featuring the QR code, with additional promotion through basketball arena ads, TV ads, and more, encouraging fans and supporters to participate.

A Unified Effort for Community Impact

The ‘Scan. Help.’ campaign is a collaborative effort involving Meridianbet, Meridianbet foundation, Expanse Studios, and basketball club Crvena zvezda Meridianbet, Southeast Europe’s leading basketball club, of which Meridianbet is the name sponsor. The initiative is designed to leverage our collective resources and influence to make a meaningful impact on local communities.

Multi-Stakeholder Support and Growing Participation

The ‘Scan. Help.’ campaign has received institutional support ad backing from the Ministry of Health, reinforcing the importance and legitimacy of this cause. Additionally, several companies have already expressed their desire to contribute, with provisions made for donations through the Meridian Foundation’s account. This broadening support network amplifies the initiative’s reach and potential impact.

This campaign exemplifies Meridianbet’s dedication to sustainable development and community well-being. In 2023 alone, the company has launched 225 CSR campaigns, reflecting the commitment to making a lasting impact.

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SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’

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The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region

With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.

In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.

This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.

“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”

Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.

Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.

 

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PopOk Gaming Unveils Exciting New Instant Game: “Dice”

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PopOK Gaming, a leading innovator in the gaming industry, is thrilled to announce the launch of its latest Instant game sensation: “Dice”.

“Dice” is a dynamic game that puts players’ instincts and strategies to the test. Participants can jump in at any moment and predict whether the resulting number will be higher or lower than their selected number. With every roll, the excitement mounts as players watch the green fields light up, indicating their path to victory.

It’s not just about luck – it’s about strategy too. Players have the opportunity to adjust their multiplier, choose their odds, and press start for a thrilling gaming experience.

Here’s how it goes down:

📈 Move the dice higher or lower on the screen.
🚀 Choose over or under.
⏳ Place your bet and hold on tight.
🎲 Launch the dice!
🏆 Win big, with potential rewards of up to x9600!

With its user-friendly interface and exciting gameplay, “Dice” promises to captivate players of all skill levels. Whether you’re a seasoned gamer or new to the world of Instant games, “Dice” offers endless opportunities for fun and excitement.

Join the action today and roll the dice for your chance to win big! Visit PopOK Gaming to start playing now.

 

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