May 24, 2021, 9:36 am ·
Online casino games developer and provider Wazdan is set to further expand its presence with the upcoming debut of a selection of its titles in New Jersey’s regulated iGaming market.
The company announced last week that it has received a transactional waiver from the New Jersey Division of Gaming Enforcement to roll out some of its award-winning desktop and mobile casino content in the Garden State.
Wazdan’s entry into New Jersey and its regulated online casino space marks the innovative studio’s
first foray into the US, a market with massive potential that has recently enjoyed a tremendous growth.
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First quarter 2021: 1 January–31 March
Revenue increased by 8% to EUR 96.7 m (89.4). Organic growth in local currencies was 8%.
Organic growth when excluding Germany was 19%.
Adjusted EBITDA was EUR 10.9 m (9.0), corresponding to an adjusted EBITDA margin of 11.3% (10.0%). Reported EBITDA was EUR 10.4 m (9.0).
The number of depositing customers was 462,386 (413,269), an increase of 12%.
Adjusted earnings per share were EUR 0.07 (0.06).
Events during the quarter
LeoVegas acquired Expekt from Betclic Group for a total purchase price of EUR 5 m. Expekt is one of the most well-known sports betting brands in Sweden and the Nordic markets, and strengthens LeoVegas brand portfolio ahead of the intensive sport event years in 2021 and 2022. The acquisition of Expekt is expected to be completed in May 2021.
Regulated market success offsets German headwinds for LeoVegas Share
May 6, 2021
LeoVegas has delivered a strong start to 2021 despite acknowledging headwinds in the German sector related to updated regulatory requirements in the country, as well as encountering difficulties in the Nordics.
As part of its Q1 2021 report, it disclosed that casino accounted for 74% and live casino 17% of the group’s Gross Gaming Revenue (GGR), while sportsbook is now back at the same level as before the global pandemic started (9% share).
Group revenue increased 8% to €96.7 million, but it was noted that if Germany had been excluded, a revenue increase of 19% would have been recorded.