{"id":247,"date":"2024-06-26T16:26:02","date_gmt":"2024-06-26T13:26:02","guid":{"rendered":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/"},"modified":"2024-06-26T16:26:02","modified_gmt":"2024-06-26T13:26:02","slug":"leovegas-reports-decline-in-net-earnings-despite-revenue-growth","status":"publish","type":"post","link":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/","title":{"rendered":"LeoVegas Reports Decline in Net Earnings Despite Revenue Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/wbKJ_ulkf8c\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>LeoVegas Mobile Gaming Group saw a modest rise in income for 2021 compared to the prior year. Nevertheless, their net earnings declined despite successfully overcoming regulatory obstacles in the final quarter.<\/p>\n<p>The company&#8217;s expansion was hindered by regulatory difficulties in Germany and the Netherlands. In Germany, a new 5.3% levy on online poker and casino earnings, the highest in Europe, was enforced in July. This led to a substantial reduction in income from Germany, which accounted for only 2% of the group&#8217;s revenue in the fourth quarter, compared to 15% in the previous year.<\/p>\n<p>LeoVegas also ceased operations in the Netherlands after the country launched its regulated online gambling market on October 1st. They aspire to obtain a license in the future. This market contributed 6% of LeoVegas&#8217; revenue in the third quarter of 2021. <\/p>\n<p>Despite these obstacles, LeoVegas witnessed an increase in returning patrons, which helped offset a decrease in new customers. <\/p>\n<p>The firm fortified its athletic wagering operations by acquiring Expekt for \u20ac5 million and revived the brand in the Nordic region.<\/p>\n<p>&#8220;The revival of Expekt has been a notable triumph, with sales growing nearly fourfold since the acquisition,&#8221; stated CEO Gustaf Hagman. &#8220;We now aim to expand into more marketplaces.&#8221;<\/p>\n<p>The organization also invested in a 25% stake in SharedPlay, a novel company that enables players to share their gaming experiences with one another.<\/p>\n<p>LeoVegas has also reached an accord with Caesars Entertainment to launch its online gambling product in New Jersey in the first half of 2022, a deal that will mark its entry into the wider US marketplace. The operator also plans to enter the Ontario online gambling marketplace when it opens on April 4. It already operates in Canada, which accounted for 13% of the group&#8217;s income in January 2022.<\/p>\n<p>Expenditures grew faster than revenue in the year, with marketing expenses being LeoVegas&#8217; largest expense, increasing by 8.5% year-on-year to \u20ac143.8 million.<\/p>\n<p>Personnel expenses also grew by 5.4% to \u20ac53.2 million, while other operating expenses increased slightly by 3.7%. Cost of sales declined by 3.2% to \u20ac65.7 million, but gaming taxes increased by 11.7% to \u20ac64 million, partly due to the new tax regime in Germany.<\/p>\n<p>Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 19.5% to \u20ac44.6 million from \u20ac55.4 million in 2020.<\/p>\n<p>Including 11. <\/p>\n<p>During the year 2021, the company incurred \u20ac7 million in depreciation and amortization charges. This included \u20ac13.6 million in expenses related to the amortization of intangible assets acquired and asset impairments. As a result, the company recorded an operating profit of \u20ac18 million, representing a 21.1% decline compared to the previous year.<\/p>\n<p>LeoVegas also reported financial costs of \u20ac4 million, leading to a pre-tax profit of \u20ac14.1 million. This figure represents a 34.4% decrease from the \u20ac21.5 million pre-tax profit achieved in 2020. After paying \u20ac2.3 million in income tax, the company realized a net profit of \u20ac11.8 million in 2021, a 38.9% reduction compared to the previous year.<\/p>\n<p>In the final quarter of the year, revenue reached \u20ac98.2 million for the three months ending December 31. This figure was slightly lower than the \u20ac98.4 million recorded in the same period of 2020. The decline was primarily attributed to the challenging operating environment in Germany and LeoVegas&#8217; decision to withdraw from the Netherlands. Excluding these markets, revenue experienced a 26% increase.<\/p>\n<p>Specifically, traditional casino games contributed 74% to total revenue, live casino games accounted for 14%, and sports betting generated 12% of the total.<\/p>\n<p>The company stated that the Nordic region contributed 50% to total revenue, other European regions accounted for 29%, and the remaining 21% originated from the rest of the world. Hagman highlighted the company&#8217;s strong performance in Sweden, where it emerged as the largest commercial operator in the fourth quarter.<\/p>\n<p>In the final quarter, the number of new depositing customers (NDC) decreased by 4.9% to 172,756. This marked the lowest quarterly total since the fourth quarter of 2019. However, the number of returning depositing customers (RDC) increased by 1.0% year-on-year.<\/p>\n<p>Marketing expenses experienced a 7.9% decline to \u20ac33.8 million. Conversely, personnel costs rose by 7.85% to \u20ac13.9 million, and other operating expenses increased by 17.8% to \u20ac10.6 million. The cost of sales decreased by 8.8% to \u20ac15 million. <\/p>\n<p>Video game earnings skyrocketed by 210% to \u20ac17.3 million, while other income came in at \u20ac6 million.<\/p>\n<p>Modified earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 45.0% to \u20ac11.6 million, which included \u20ac3.1 million in depreciation and amortization, and \u20ac2.4 million in amortization and impairment of acquired intangible assets. Operating earnings were \u20ac6.1 million, compared to a loss of \u20ac833,000 in 2020.<\/p>\n<p>LeoVegas also recorded \u20ac884,000 in financial charges and \u20ac91,000 in expenses related to affiliated party activities, resulting in a profit before tax of \u20ac5.1 million, up from a loss of \u20ac1.4 million a year earlier. After paying \u20ac926,000 in income tax, LeoVegas posted a net profit of \u20ac4.2 million in the final quarter, compared to a loss of \u20ac1.9 million in 2020.<\/p>\n<p>\u201cI am proud of how we ended 2021 and how we have managed to offset the revenue losses from the ongoing regulatory changes in Germany and the Netherlands,\u201d said Gustaf Hagman, President and Chief Executive Officer of LeoVegas.<\/p>\n<p>\u201cEven in turbulent times, we have shown strong adaptability and continue to drive innovation,\u201d he added. \u201cMore and more European nations are undergoing regulation, and we currently have about 74% of our earnings regulated and\/or taxed.<\/p>\n<p>\u201cThe external market environment will continue to be turbulent and chaotic in some areas, but we are well-prepared. With all our ongoing growth plans, I am optimistic about 2022.\u201d<\/p>\n<p>Sign up for the iGaming News newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>LeoVegas Mobile Gaming Group saw a modest rise in income for 2021 compared to the prior year. Nevertheless, their net earnings declined despite successfully overcoming regulatory obstacles in the final quarter. The company&#8217;s expansion was hindered by regulatory difficulties in Germany and the Netherlands. In Germany, a new 5.3% levy on online poker and casino [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LeoVegas: Growth &amp; Challenges in 2021<\/title>\n<meta name=\"description\" content=\"LeoVegas navigated regulatory hurdles in 2021, achieving modest revenue growth but facing net earnings decline. Learn more about their journey.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"LeoVegas Reports Decline in Net Earnings Despite Revenue Growth\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"LeoVegas navigated regulatory hurdles in 2021, achieving modest revenue growth but facing net earnings decline. Learn more about their journey.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Explore the Future of Casino Entertainment | News &amp; Licensed Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T13:26:02+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/\",\"url\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/\",\"name\":\"LeoVegas: Growth & Challenges in 2021\",\"isPartOf\":{\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-26T13:26:02+00:00\",\"dateModified\":\"2024-06-26T13:26:02+00:00\",\"author\":{\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"LeoVegas navigated regulatory hurdles in 2021, achieving modest revenue growth but facing net earnings decline. Learn more about their journey.\",\"breadcrumb\":{\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/slotsgarden100nodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LeoVegas Reports Decline in Net Earnings Despite Revenue Growth\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#website\",\"url\":\"https:\/\/slotsgarden100nodepositbonus.icu\/\",\"name\":\"Explore the Future of Casino Entertainment | News &amp; Licensed Games\",\"description\":\"Stay on top of the online gambling world with our fresh casino news, in-depth reviews, and expert articles. Discover a world of exciting opportunities at our licensed platform.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/slotsgarden100nodepositbonus.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"contentUrl\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"caption\":\"admin\"},\"description\":\"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.\",\"sameAs\":[\"http:\/\/theworldcasino.vip\"],\"url\":\"https:\/\/slotsgarden100nodepositbonus.icu\/author\/ezvhu8xt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"LeoVegas: Growth & Challenges in 2021","description":"LeoVegas navigated regulatory hurdles in 2021, achieving modest revenue growth but facing net earnings decline. Learn more about their journey.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/","og_locale":"en_GB","og_type":"article","og_title":"LeoVegas Reports Decline in Net Earnings Despite Revenue Growth","og_description":"LeoVegas navigated regulatory hurdles in 2021, achieving modest revenue growth but facing net earnings decline. Learn more about their journey.","og_url":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/","og_site_name":"Explore the Future of Casino Entertainment | News &amp; Licensed Games","article_published_time":"2024-06-26T13:26:02+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/","url":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/","name":"LeoVegas: Growth & Challenges in 2021","isPartOf":{"@id":"https:\/\/slotsgarden100nodepositbonus.icu\/#website"},"datePublished":"2024-06-26T13:26:02+00:00","dateModified":"2024-06-26T13:26:02+00:00","author":{"@id":"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0"},"description":"LeoVegas navigated regulatory hurdles in 2021, achieving modest revenue growth but facing net earnings decline. Learn more about their journey.","breadcrumb":{"@id":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/26\/leovegas-reports-decline-in-net-earnings-despite-revenue-growth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/slotsgarden100nodepositbonus.icu\/"},{"@type":"ListItem","position":2,"name":"LeoVegas Reports Decline in Net Earnings Despite Revenue Growth"}]},{"@type":"WebSite","@id":"https:\/\/slotsgarden100nodepositbonus.icu\/#website","url":"https:\/\/slotsgarden100nodepositbonus.icu\/","name":"Explore the Future of Casino Entertainment | News &amp; Licensed Games","description":"Stay on top of the online gambling world with our fresh casino news, in-depth reviews, and expert articles. Discover a world of exciting opportunities at our licensed platform.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/slotsgarden100nodepositbonus.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/image\/","url":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","contentUrl":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","caption":"admin"},"description":"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.","sameAs":["http:\/\/theworldcasino.vip"],"url":"https:\/\/slotsgarden100nodepositbonus.icu\/author\/ezvhu8xt\/"}]}},"_links":{"self":[{"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/posts\/247"}],"collection":[{"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/comments?post=247"}],"version-history":[{"count":0,"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/posts\/247\/revisions"}],"wp:attachment":[{"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/media?parent=247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/categories?post=247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slotsgarden100nodepositbonus.icu\/wp-json\/wp\/v2\/tags?post=247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}