Tag Archives: LeoVegas AB

LeoVegas H1 dragged by Deustch adjustment as focus turns to Expekt renaissance

LeoVegas AB experienced significant challenges in the German market during H1 2021, contributing to a decline in revenues, although results outside this market were considerably more positive. Publishing its second quarter trading results, the Stockholm-listed operator revealed that its revenue decreased by 13% compared to previous year comparatives – generating €96.8 million (Q2 2020: €110.7m). Group EBITDA also declined to …

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LeoVegas to challenge Spelinspektionen ‘poor AML’ judgement

LeoVegas AB has launched an appeal against the SEK 2 million penalty (€200,000) issued by Swedish gambling inspectorate Spelinspektionen related to “shortcomings in the work against money laundering and terrorist financing”. Spelinspektionen communicated that LeoVegas had failed to comply in ensuring the risk-based AML safeguards of Sweden’s ‘Money Laundering Act’.  The penalty notice specified that LeoVegas had failed to ‘risk …

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LeoVegas strengthens sportsbook vision with €5m buyout of Expekt

LeoVegas AB has agreed to acquire all ‘Expekt Nordics Ltd’ assets from French online gambling operator Betclic Group for a total purchase price of €5 million.  The deal sees LeoVegas take over the management of Expekt – a heritage online sportsbook brand operating across Scandinavian markets since 1999. Updating investors, LeoVegas states that the acquisition has been undertaken to strengthen …

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LeoVegas returns to bond market securing long-term growth options

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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LeoVegas demands Spelinspektionen clarifies rules on deposit limits

LeoVegas AB has written an open letter to the Swedish gaming inspectorate Spelinspektionen, urging it to clarify its interpretation of the new deposit limit. The letter follows on from disparities in the interpretation of new regulations introduced by the Minister of Health Ardalan Shekarabi which outline new deposit and stake limits for the duration of 2020. In the letter, LeoVegas …

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LeoVegas launches home campaign against the black market

LeoVegas AB has launched a Swedish public awareness campaign promoting safe play with licensed online gambling incumbents.  The Stockholm-listed online gambling group said it has chosen to launch the campaign to defend the industry against common misconceptions and falsehoods. LeoVegas wants to drive awareness of licensed online gambling incumbents, after independent reports highlighted that the Swedish government has failed in …

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Strong Q1 opening sees LeoVegas recover lost ground

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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LeoVegas appoints Johan Rikner as group digital marketing lead

Stockholm-listed LeoVegas AB has continued to restructure its marketing leadership, after confirming the appointment of Johan Rikner as new Digital Marketing Director. Detailed as a key leadership appointment for 2020 directives to Swedish business news source Resume.se, Rikner is the former founder of Nordic native and press advertising publisher Nyheter365 (‘News365’) – a business acquired by Stockholm marketing group Mediaplanet in …

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LeoVegas kicks off Vaxjo recruitment drive

Stockholm-listed online gambling group LeoVegas AB is seeking new engineering talent to join its IT hub in the Swedish city Vaxjo (Kronoberg county). This weekend, LeoVegas HR launched an innovative marketing campaign advertising in ‘code’ the vacancies the operator seeks to recruit, throughout Vaxjo’s city billboard. Operating since 2011, LeoVegas maintains three offices within its home market of Sweden located in …

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LeoVegas agrees €15m Authentic Gaming offload to Genting

Issuing a market filing this morning, the governance of Stockholm-listed LeoVegas AB has agreed to sell its live gaming vertical Authentic Gaming to Genting Group for €15 million (£13m). Updating investors, LeoVegas details that the transaction is undertaken on a ‘debt-free basis’ and represents a return of more than 100% on its investment in the live gaming enterprise. LeoVegas’ investment in Authentic …

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