LeoVegas AB has reported its ‘strongest fourth quarter ever’ but has found going tough in its core Nordic markets. Changes in regulations in both Sweden and Norway, and large tax increases in Denmark have caused the company’s Nordic profile to strain, but the group has still been able to report adjusted EBITDA growth of 25 per cent for the full …
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LeoVegas AB has announced its intention to issue a new senior unsecured bond, carrying a minimum value of SEK 500 million (€50m) and maximum liquidity of SEK 1.2 billion (€117m). Returning to market, LeoVegas’ board confirmed that it has appointed SEB and Swedbank to serve as joint bookrunners facilitating the transaction for institutional investors, who will be able to access …
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An ongoing structural shift from land-based gaming to online has allowed LeoVegas to offset the far-reaching impacts of the Coronavirus pandemic, but the operator exercised caution over the tumultuous regulatory landscape within its home market of Sweden. Publishing its Q3 results for the period 1 July – 30 September, the operator praised its ability to ‘to quickly adapt to new, …
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Despite a series of regulatory changes across its core markets, LeoVegas AB has praised its ‘continued solid growth and profitability during a period of exceptional circumstances’ as it published its Q2 2020 results (period ending 30 June). The Stockholm-listed online gambling group noted that ‘the effects related to COVID-19 are judged overall to have had a positive impact on NGR …
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A consortium of Swedish online gambling companies have ‘unanimously contested’ the Ministry of Finance’s proposals to place further restrictions on online gambling licensees. In a joint statement issued by Swedish igaming trade body BOS, nine CEOs have called for the government to reconsider the ‘unrealistic proposals’, which are said to ‘play into the hands of the unlicensed market’. The statement …
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Delivering on key corporate restructuring initiatives, LeoVegas AB has detailed a strong opening to 2020 trading, recording a 4% increase in group revenues to €89 million (Q12019: €86m). The Stockholm-listed online gambling group completed the migration of its 12 UK brands onto its proprietary technology platform, vastly improving game offerings, payment services and engagement functionalities, while also reducing group operating …
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CEOs of Sweden’s leading igaming operators have warned health minister Ardalan Shekarabi not to ‘torpedo his own gambling regulations’, emphasising that further restrictions on the sector will result in an increase of punters betting via unlicensed operators. As health minister overseeing Sweden’s response to the coronavirus pandemic, Shekarabi has ordered Swedish parliament to adopt a series of temporary online gambling …
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LeoVegas AB has detailed a tough closing period to 2019 trading, in which significant Q4 exceptional costs have impacted the firm’s full-year performance. Updating investors, the operator explained that it has booked €6 million attributed to restructuring costs, on top of a €10 million Royal Panda impairment charge. The expenses see LeoVegas post Q4 2019 operating losses of €2.5 million …
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Ahead of publishing its interim report for Q4 2019, online gambling group LeoVegas has outlined a number of strategic changes that it plans to make, which will impact its UK-facing brands and future strategy. LeoVegas has reiterated that it plans to ‘fully use economies of scale in technology, product and organisation’, and has confirmed that its planned relocation to new …
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Stockholm-listed LeoVegas AB has confirmed that Mårten Forste, current Chairman of the Board, will take the position of Group COO to oversee ‘overarching responsibilities’ of the firm’s Maltese operations. The appointment will see Forste maintain his Chairman role until LeoVegas’ next AGM planned for May 2020, where the firm’s Nominations Committee will announce a new corporate governance leader. Forste has …
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