LeoVegas, the international operator of online casinos and sports betting websites, has been ordered by the United Kingdom Advertising Standards Authority to withdraw one of its radio advertisements for BetUK, an online sports betting brand.

The Advertising Standards Authority ruled that the respective advert was “irresponsible” and that it could appeal to children. The advert aired in September 2023 and it featured Adebayo Akinfenwa, a retired football player, who spoke about his role as a brand ambassador for BetUK.

However, in the advert in question Akinfenwa encouraged players to gamble responsibly and also made them aware of the various safer gambling tools available on BetUK, including deposit limits, the possibility of setting time-outs and scheduling reality checks.

The Advertising Standards Authority received just one complaint regarding the advertisement’s possible appeal to children. The respective complaint underlined that the presence of a former football player in the advert could present a strong appeal to children and that would put the advert in breach of the BCAP Code.

LeoVegas Rejects Complaint

The online casino and sports betting operator responded to the complaint by saying that it doesn’t believe the advert appeals to children. LeoVegas and BetUK underlined that Adebayo Akinfenwa is now aged 41 and has retired from football for some time, so it is quite unlikely that he is popular with today’s children.

Moreover, LeoVegas and BetUK pointed out that Akinfenwa was not a huge football star back in the day, he spent most of his career in the lower leagues of English football and not in the Premier League. That makes any potential for appeal to children even lower.

Adebayo Akinfenwa does have a clothing range which made him known outside of the world of football but BetUK underlined that it does not include any products for children, so there shouldn’t be any problem there either.

When looking at the social media accounts associated with Akinfenwa, BetUK pointed out that just 8 percent of his total followers on Instagram were under the age of 18, while on Snapchat the percentage went up to 18 percent.

The sports betting operator also underlined that the advert did not feature any content that would normally be associated with children or a childish tone. Moreover, it was played during a radio show that is targeting an adult audience. Radiocentre, the commercial body for United Kingdom radio stations, decided to support BetUK in this case.

Despite the response, the Advertising Standards Authority decided to uphold the complaint because it was found in breach of the BCAP Code, which states that adverts for gambling products must not be likely to be of strong appeal to children or young persons.

Source: “LeoVegas ordered to withdraw “irresponsible” BetUK radio advert“. iGaming Business. March 13, 2024.

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Relax Gaming, one of the world’s top aggregators and creators of games for online casinos, has announced that a lucky player has managed to trigger its Dream Drop Mega Jackpot while enjoying online casino games at LeoVegas.

This is the thirteenth millionaire created by this jackpot and this time the lucky winner landed a prize worth 2.9 million euros after having placed a bet of just 22 cents on Cosmic Rush Dream Drop, an online casino game created by Four Leaf Gaming. This is the first time this jackpot drops in 2024 after having been triggered seven times in 2023 for a grand total prize of just over 18 million euros.

Cosmic Rush Dream Drop is a brand new online casino game, it was released by Four Leaf Gaming on January 11, 2024, and it is also the latest game that the studio has published. The game offers players the opportunity to win up to 6,000 times their stake thanks to its various features and mechanics such as Rush Meter, Instant Cash Collect, Cash Rush and Wild Rush Free Spins.

Four Leaf Gaming was founded in 2021 by John Quinn and Andy Hollis, two professionals with plenty of experience in the industry after having worked for gaming giant Microgaming for several years.

A Successful Content Provider

Relax Gaming is one of the most successful content providers in the iGaming industry, having sealed multiple partnerships with top online casino operators from all over the world. The supplier has become a household name in the industry after having released the Money Train slot game, which then developed into a series which comprises five titles at the moment.

The supplier has also received several awards for its efforts, including the Global Gaming Award for Product Launch of the Year in February 2023 for Dream Drop Jackpots. Moreover, Money Train 3 won Slot of the Year at the 2023 CasinoBeats Game Developer Awards while the company also won the award for Skill Games Supplier at the 2023 EGR B2B Awards and also the Innovation in Mobile award at the 2023 SBC Awards.

Relax Gaming currently offers its online casino partners more than 4,000 online casino games, ranging from its proprietary titles to a library of games supplied by third-party developers which have signed partnerships with the brand.

Source: “Lucky thirteen as Relax Gaming and LeoVegas celebrate latest Dream Drop Mega Jackpot winner“. Relax Gaming. February 28, 2024.

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Moving forward, both BetMGM’s UK-facing website and LeoVegas dot com will have access to a variety of live casino options developed by the company.

Expanding Live Casino Portfolio and Reach

Notably, Pragmatic Play has deployed its Auto Mega Roulette, a branded and authentic game that adds the Mega Multipliers feature for up to 500x wins calculated on the player’s base bet.

This will allow both companies to liven up their live casino vertical and continue to add products that help set them apart from competitors. Thanks to the authentic brand for each of the two operators, players will have access to an immersive experience that goes a little outside of the box when it comes to classic table games.

Pragmatic Play is looking to establish itself as a company that provides not only some of the best online slots but also works on its reputation as a company that brings tailored and customizable live casino games as well.

The most recent partnership has been hailed by company COO Irina Cornides who said that the new alliance with the prominent brands was an exciting milestone for the company, saying:

Our extensive suite of customization options adds another dimension for our customers, who can quickly and easily stand out with uniquely tailored and branded content.

Pragmatic Play COO Irina Cornides

Customization Is Focus of Pragmatic’s Live Casino Efforts

Pragmatic Play has been actively developing its presence in the live casino vertical, ensuring that it meets important production and expansion milestones. Earlier this year, the company teamed up with Rank Group to power the latter’s live casino offering.

The company similarly expanded its live casino portfolio with Napoleon, the Belgian iGaming operator, which benefited from a range of additional titles, such as Roulette, and Blackjack, but also some of the original game shows by the company, to name Sweet Bonanza Candyland.

Continuing on this streak of personalization and tailored live casino experiences, Pragmatic Play also released a dedicated game for 1xBet, another prominent studio, in September.

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The MGM Resorts International-owned LeoVegas Group will reinforce the BetMGM brand in the United Kingdom thanks to a partnership with Kambi Group, a leading provider of sports betting solutions.

Under the agreement, Kambi will supply the UK-facing iteration of the BetMGM brand with its reliable sports betting technology, including the award-winning Bet Builder solution and AI-powered algorithmic trading functionalities.

Kambi is a long-standing partner of the LeoVegas Group and has long supplied the operator’s betting brands with solutions. Its tech is live across the group’s multiple brands, including BetUK and expect.

The agreement comes a few days after Kambi helped Prairie Band Casino & Resort launch the first tribal sportsbook in Kansas.

Kambi Is Happy to Expand Its Partnership with LeoVegas

The partnership between LeoVegas and Kambi was hailed by Kambi’s co-founder and chief executive officer, Kristian Nylén. The latter expressed his team’s happiness about the opportunity to power the international launch of BetMGM in the UK with LeoVegas. According to him, this move will help Kambi expand its relationship with one of its “most longstanding partners.”

Nylén added that the pairing of LeoVegas’ experience and Kambi’s robust solutions will ensure the success of the BetMGM brand in the UK.

We are confident that the combination of LeoVegas’ operational expertise and Kambi’s proven sportsbook technology behind such an exciting brand provides an excellent platform to offer highly engaging, next-generation betting experiences to BetMGM’s customers.

Kristian Nylén, co-founder & CEO, Kambi Group

LeoVegas Group’s director of sports strategy, Per Carlander, also commented on the matter, expressing his team’s delight about the launch of BetMGM to the international market. He highlighted the importance of the UK market, expressing LeoVegas’ desire to make BetMGM a local success.

[The United Kingdom] is a key market for every operator, and we are confident that our sportsbook and exciting new product features, including a multi-million free-to-play game, will attract sport enthusiasts who enjoy a top-class live betting experience.

Per Carlander, director of sports strategy, LeoVegas Group

Carlander concluded that the best-in-class promotions, personalized navigation and innovative Bet Builder poise BetMGM for success in the UK.

In other news, LeoVegas recently acquired Push Gaming, expanding its international presence. Now part of the MGM family, LeoVegas continues to pursue growth opportunities, hoping to solidify its position as a leading gambling company.

Previously, LeoVegas secured a gaming license for the Netherlands.

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In a statement, Push Gaming CEO James Marshall has said that he was extremely proud to see his company take this next step which will allow it to decisively consolidate its presence in key regulated markets and spread its award-winning and player-favorite games further and wider.

Push Gaming Embarks on New Growth Opportunities

“The acquisition is a testament to the talented team we have built along with their skills and industry insight that have led to where we are today,” Marshall said in a press statement and added that Push Gaming was determined to continue and deliver the same excellent quality product that its customers and players have grown accustomed to expecting from it.

Push Gaming is not going to be impeded by red tape in any way as part of this acquisition, as it would remain an independent and highly creative company unchained by unnecessary administrative tasks. Marshall said that everyone in the company was more determined than ever to prove what the company was capable of and the acquisition would no doubt play an important role in that.

With Leo Vegas Group and MGM Resorts International’s backing, Push Gaming is looking at entirely new opportunities. The supplier is already known for many exciting games such as Big Bamboo, Jammin’ Jars, and Razor Shark among others.

Pish Gaming has been in the meantime working tirelessly to ensure that its presence in global markets would be felt. The company has signed a string of prominent partnerships with well-established operators, including Kaizen Gaming in Greece.

Beyond pursuing local opportunities, Push Gaming has also expanded with Betway as part of a global content alliance that will see the supplier deliver its titular and cutting-edge titles to one of the best-established companies in the gaming sector.

In the meantime, Push Gaming already provides content for a string of trusted and established names in the industry, including Tipico, Betsson, Sky Bet, Svenska Spel, Entain, and bet365.

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LeoVegas has made a move by acquiring Push Gaming in a deal valued at €350 million (USD $405 million).

The acquisition, set to be finalized in the fourth quarter of 2022, entails the Malta-based online casino LeoVegas brand gaining ownership of Push Gaming’s shares.

Push Gaming is recognized as a provider of online slot games, boasting an impressive collection of over 50 titles.

Showing growth, the company’s revenue surged by 50% in 2021.

LeoVegas, a leading operator in the casino domain with a presence across more than 100 countries, has been experiencing rapid expansion.

In fact, their revenue soared by 40% year over year.

This acquisition marks a triumph for LeoVegas as it propels them forward in the online slots market.

With Push Gaming’s popular online slot games highly sought after by players LeoVegas expects to attract customers and retain their existing player base successfully.

“With an impressive catalogue of games that include fan favourites such as Razor Shark, Wild Swarm and Big Bamboo, Push Gaming will boost the group’s exposure into the booming slots content category and add key proprietary technologies essential for continued international growth,” LeoVegas said.

The consolidation trend within the gambling industry is further emphasized through this deal.

Companies are actively seeking scale and market share through acquisitions that have taken place over the years.

LeoVegas acquisition of Push Gaming represents a milestone that is anticipated to have far-reaching implications for the online gambling industry.

More online casino news

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LeoVegas Group, an international iGaming company, has been granted a five-year gaming license by the Dutch regulatory authority Kansspelautoriteit (KSA) for casino, live casino, and sports betting in the Netherlands. The license was granted to the company, operating through its subsidiary 21 Heads Up Limited. The CEO of LeoVegas Group, Gustaf Hagman, expressed excitement about the opportunity to enter the rapidly growing Dutch market, with plans to go live during the second half of 2023.

Currently, LeoVegas Group operates in nine jurisdictions, offering online casino, live casino, and sports betting under nine different brands. The company has a significant presence in Europe, employing over 1,200 people, with its headquarters in Stockholm and a hub in Malta. In 2022, LeoVegas Group became a subsidiary of MGM Resorts International.

Despite receiving the gaming license, LeoVegas Group has not yet gone live in the Dutch market. However, they have shown their commitment to the market through a sponsorship deal with Blackpool FC, featuring their logo on the football team’s jersey.

The company’s CEO, Gustaf Hagman, emphasised the potential of the Dutch market, envisioning it as an important market in their global growth journey. As an innovative player in the industry, LeoVegas Group also invests in and develops other iGaming companies through its investment arm, LeoVentures.

In related news, Joerg Hofmann and Rene Jansen, Chairman of the Dutch regulator, discussed the rules and regulations in the Netherlands regarding gambling on the GI Huddle.

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Acquiring three new licenses to offer gaming software in Sweden marks a significant milestone for LeoVegas, providing a solid foundation for the company’s continued growth in the region. Receiving approval from the notoriously strict Swedish Gambling Authority reflects the company’s commitment to quality and player safety. LeoVegas’ focus on European expansion will be vital in regaining lost momentum.

Sweden Is a Strict and Challenging Jurisdiction

The new licenses granted to LeoVegas Group will bolster its Blue Guru Games studio and two PAM platforms. Each of the three B2B licenses will last five years, giving the company a significant edge in the highly competitive Swedish market. LeoVegas can now offer its comprehensive range of gaming software to licensed companies in the country, significantly expanding its local presence.

As a licensed B2B supplier, LeoVegas is subject to stringent Swedish regulations that safeguard players, ensure fair practices, and promote responsible gambling. Company CEO Gustaf Hagman stated that B2B licenses were vital in combating unlicensed operators and urged the country’s regulator to maintain its efforts to protect the public from unlawful businesses.

It is now critical that authorities focus on those suppliers deliberately undermining the Swedish licensing system by facilitating unlicensed gaming.

Gustaf Hagman, LeoVegas Group CEO

Acquiring the approval of the Swedish Gambling Authority is a high mark for LeoVegas’ products. The Blue Guru Games studio will offer its growing range of gaming options to a new jurisdiction, testing its mettle against some of the industry’s top suppliers. LeoVegas will hopefully manage to cater to the preferences and interests of Swedish players, offering them exciting new experiences within a secure and regulated environment.

The Company Focuses on Continued Growth

LeoVegas’ B2B expansion into Sweden marks another step in the company’s recent focus on European growth. In May, the group relaunched its Expekt brand in Denmark, capitalizing on the growing popularity of sports betting in the country. March also marked a successful foray into Germany as LeoVegas gained regulatory approval to offer virtual slots through its LVSports Limited brand.

The group’s expansion-focused mindset seeks to bolster its global presence after disappointing Q1 results. With drops in several vital metrics and waning momentum, LeoVegas hopes its strategic investments will soon pay dividends. The company recently announced its planned acquisition of game developer Push Gaming, bolstering its content production capabilities.

With the successful expansion into the Swedish B2B market, LeoVegas hopes to diversify its assets and counteract the rising economic challenges. Appeasing the strict regulator in the country demonstrates the company’s commitment to responsible gaming and should spearhead further growth across all its regional brands. The licenses also mark a win for Swedish players who will soon enjoy new and exciting gaming experiences.

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MGM-owned operator LeoVegas has posted its Q1 results, reporting a difficult period for the company. The operators’ trading declined as the group recorded drops in several metrics.

LeoVegas posted total quarterly revenue of $101 million (converted to USD), which represents a slight decline of 4% from last year’s results. The company EBITDA, meanwhile, sunk further to a loss of $3.32 million in Q1 2023. Adjusted EBITDA for the period was a loss of $1.18 million, representing a margin of -1.2%.

Gross profit for the three months ended March 31 declined to $65.92 million. Meanwhile, the company also recorded an operating loss of almost $8.8 million – a sharp decline from last year’s positive results.

Operating expenses, meanwhile, doubled and reached almost $290 million. Luckily, the company was able to offset some of the negative impact by divesting its share in BeyondPlay to Bettor Capital for $2.04 million.

LeoVegas closed the quarter with $73 million in cash and cash equivalents – a decline of over $9 million from the results recorded at the end of Q1 2022.

The Operator Struggled in Q1 2023

LeoVegas’ declines are attributable to various headwinds, including a sharp increase in operating expenses and suboptimal performance in certain markets.

Germany’s tight regulatory regime, for example, consistently undermined the operator’s profitability, resulting in serious losses. The Nordics, LeoVegas’ home market, didn’t make things easier for the company either. Its local revenues waned but the group continues to be optimistic about the market’s potential.

The United Kingdom and Spain were profitable markets for the company, helping LeoVegas record increased net gaming revenue from the Rest of Europe region. Despite the setbacks, the company experienced a 17% growth in the region, attesting to its potential.

Still, Q1 remained a largely troubled period for the operator. LeoVegas noted that its business was negatively impacted by the macroeconomic conditions and unfavorable exchange rates. The company’s Rest of World business plummeted by 28%.

LeoVegas hopes that its upcoming initiatives will help it improve profitability. The company just launched the Expekt sports betting brand in Denmark and now hopes to capitalize on opportunities in the country.

At the beginning of this month, on the other hand, the operator acquired Push Gaming in the hopes of bolstering its international growth.

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One of the oldest sports betting brands within the Nordics, expekt, was relaunched for customers in Denmark, its owner, LeoVegas, reveals. Announced Tuesday, the relaunch of the famous brand follows LeoVegas’ strategic plan for expansion within the global betting vertical. At the same time, the relaunch comes after the company reintroduced the brand for the Swedish market back in 2021.

Introduced as nye expekt or the new expekt, the brand is expected to help LeoVegas reaffirm its presence in Denmark. Thanks to the launch, customers of the brand can now tap into a new mobile app that provides competitive odds and delivers overall thrilling betting experiences.

Currently, LeoVegas Group has active strategic deals with famous European soccer clubs such as FC Internazionale Milano and Manchester City FC. Now, the reintroduction of “nye expekt” is expected to re-establish the popularity of the brand, which has been absent from the market in Denmark for 10 years.

The Company Is Delighted to Unveil Nya Expekt

Gustaf Hagman, LeoVegas Group’s CEO, was excited about the recent announcement regarding the relaunch of the brand in Denmark. He explained that expekt is famous as one of the biggest Nordic brands.

Additionally, Hagman said that LeoVegas is delighted to relaunch nye expekt which delivers an app that offers competitive odds for Danish customers. Finally, LeoVegas’ CEO, added: “We have a clear strategy to expand by increasing the number of brands and markets where we’re present, and we see great potential for growth in sports betting.”

“Expekt is one of the strongest brands in the Nordics, and we’re thrilled to be relaunching nye expekt in Denmark with a modern app and competitive odds.“

Gustaf Hagman, CEO at LeoVegas Group

Elsewhere, earlier this month, MGM Resorts’ LeoVegas confirmed its plans to acquire Push Gaming along with its subsidiaries. This marked a strategic move for the Group as it sought to provide a vital boost and supercharge its global expansion.

At the time of the announcement, MGM Resorts’ president, Gary Fritz, said that the company is delighted to add Push Gaming to its team. Moreover, he acknowledged that the game developer is recognized around the world for its leading content.

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