Online gaming operator LeoVegas is set to be the first in the industry to allow open banking transactions under PSD2, via its proprietary tech platform. 

The company says the development will allow even more secure and faster payments for customers, directly from their bank accounts, along with lower transaction costs. It will also reduce LeoVegas’ dependence on third party payment providers. 

Discussing the news LeoVegas Group CEO, Gustaf Hagman, said:

“Secure, seamless and fast payments are incredibly important, and the fact that we now – through PSD2 (the Second European Payment Services Directive) – have the opportunity to directly integrate with many European banks, will provide a superior customer experience offered by security and speed.

“Conducting transactions via open banking is also considerably more cost-effective compared with traditional payment methods. There is a high level of activity in our product and technology development organisation, and it is exciting to see all of the innovations we are delivering to our customers. We are first out in the industry with this pioneering payment solution, which will change the entire payments industry in the years ahead.”

LeoVegas has already rolled out open banking payments in the UK, with 10% of new customers already choosing the option. Open banking will now be launched in several of the operator’s core European markets. 

AYO.NEWS says:

Should payment service providers be worried about PSD2 leading to more operators taking advantage of open banking? In the long-run, probably. After all, why pay extra to make things slower and more complicated? The only real issue to uptake is probably awareness. For operators and customers it’s a win-win. 

Staying with LeoVegas, last week the company revealed it is considering raising significant new capital with a senior unsecured bond issue. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

Online casino operator LeoVegas is looking to raise significant new capital with a senior unsecured bond issue.

LeoVegas AB has mandated SEB and Swedbank as joint bookrunners to arrange investor meetings commencing on 30 November 2020 to explore the conditions to issue a senior unsecured bond with an expected volume of SEK 500m, within a framework of SEK 1,200m with a tenor of three years. 

Subject to market conditions, a capital markets transaction may follow. The proceeds from the potential bond issue will be used to facilitate LeoVegas’ expansion strategy, refinance existing debt and for potential acquisitions. In conjunction with the transaction, LeoVegas also enters into a new three-year revolving credit facility agreement of EUR 40m.

Financial targets – leverage target introduced

In conjunction with the transaction, LeoVegas publishes that the leverage ratio (net debt to adjusted EBITDA) shall not, over the long term, exceed 1.0x. However, LeoVegas may, under certain circumstances, choose to exceed this level during short time periods in connection with, for instance, larger acquisitions or other strategic initiatives.

LeoVegas’ existing long-term financial targets are unchanged which include:

• Long-term organic growth that outperforms the online gaming market
• Long-term EBITDA margin of at least 15 percent, under the assumption that 100% of the revenue is generated in locally regulated markets where gaming tax is paid
• To pay dividend, over time, of at least 50 percent of the profit after tax

“With this, we ensure a long-term and stable financing for LeoVegas. We strengthen the company’s financial flexibility and diversify our financing with the combination of a bond and new bank loans. This enables us to continue to deliver on our expansion strategy where we focus on regulated markets and markets soon to become regulated. Further, we continuously evaluate strategic and complementary acquisitions that may fit into the LeoVegas Group.” – Gustaf Hagman, Group CEO

Staying with LeoVegas, earlier this week the operator announced the launch of a record-breaking jackpot, giving players the chance to win €5M+. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

Pariplay has entered the Spanish market with MGA Games, through 888casino.

The agreement will make locally certified content available to Spanish players via Pariplay’s Fusion aggregation platform, starting with 888casino’s Spanish brand, and then rolling out to other gaming operators. 

MGA Games is joining a number of other operators in using the Fusion platform, which recently went live in both Switzerland and Portugal. 

Commenting on the news MGA Games CEO, Joan Sanahuja, said

“We are delighted to become part of Pariplay’s Fusion platform, as it provides us with a very unique opportunity to expand the reach of our offering to even more operators. Kicking things off with 888casino.com puts us in an excellent position to leverage our game content.”

While Managing Director at Pariplay, Adrian Bailey, added:

“We are eager to see our leading portfolio of games made available through 888casino and look forward to providing even more local Spanish content to other operators over the course of this quarter and into 2021.”

AYO.NEWS says:

Despite the long term future looking uncertain for the Spanish gambling market, due to the recent introduction of sweeping advertising restrictions, right now the country is witnessing impressive growth – according to the country’s regulator, the DGOJ, the Spanish online gambling was €218M in Q1 2020, up 18% from Q4 2019. Given this, we expect to see many more providers try to establish a presence over the coming year.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

B2B cryptocurrency-fiat gateway provider and partner in DAOGroup, DAOWallet, is to be fully integrated with igaming platform 1Click Games. 

The integration will allow end-users of the platform to seamlessly deposit and withdraw cryptocurrencies at 1Click Games’ partner brands, without any complicated exchange requirements. Operators will also benefit from chargeback fraud protection.

DAOWallet currently supports player transactions in Bitcoin (BTC), Ethereum (ETH), a variety of stablecoins, and DAOGroup’s proprietary token BET. Deposits can also be made using credit cards, giving players total flexibility, while operators are supported with a range of fiat currency settlement options.

Players and operators will both benefit from instant transactions at the best exchange rates, and operators will be able to choose from different invoice options, and enjoy the ability to convert into fiat at any time.

DAOWallet covers all KYC and AML procedures, and will also allow 1Click Games to track the provenance of all cryptocurrencies entering its wallet, enabling casino management to identify VIP players and red flag any potential problems. 

Commenting on the news DAOGroup CCO, Glen Bullen, said:

“Easy, secure crypto payments are demanded by a vast, unserved audience around the world, and integrations like this, with the innovative 1Click Games, can now give this market access to the best casino experiences around.

“1Click Games share our view that cryptocurrency payments are inevitably entering the mainstream, and we’re very pleased to kick our partnership off and help deliver new revenue streams through this offering of our solution for their players.”

While CEO at 1Click Games, Maxim Terehovich, added:

“This cooperation with payment solutions provider DAOWallet is very valuable for 1Click Games because we always focus on our clients and operators.

“Market trends research gave us a full insight into the rapid development of the cryptocurrency market and 1Click Games is glad to give our operators the possibility to reach a vast audience of cryptocurrency users who would have previously struggled to find a service in the traditional gaming and betting space.

“We now have a wide range of payment options for our operators and we now feel more flexible to adapt to market tendencies and our client’s needs. This partnership helps us to be more competitive and now we can provide the best experience for those who are interested in Bitcoin casino operation.”

AYO.NEWS says:

Accepting at least the most popular cryptocurrencies is now a must for any online casino and sportsbook, but not all solutions offer this much convenience and security. Staying with crypto gambling, just yesterday we reported that Cloudbet had added support for the DAI stablecoin in South America. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

Slots and table games provider Habanero has gone live with LeoVegas in the Italian market. 

LeoVegas’ Italy-based players can now enjoy all 71 of Habanero’s nationally certified games, including popular titles like Egyptian Dreams, Wild Trucks and Scopa.

The partnership further strengthens Habanero’s position in Italy, with its games now live with the majority of tier one brands in the country. 

Commenting on the partnership Head of European Business Development at Habanero, Arcangelo Lonoce, said:

“We are delighted to launch in Italy with a globally renowned operator such as LeoVegas, in a move that enhances our commercial footprint in our native territory and beyond. 

“The deal cements Habanero’s tier one credentials as we continue to execute on our ambitious and exciting commercial plans.”

While Group Casino Games Manager at LeoVegas, Johan Ekberg, added:

“Habanero’s premium quality gaming suite needs no introduction and we’re delighted to have them aboard.

“Already live in Italy, we see this as the first launch of many with the supplier and look forward to bringing the Habanero name into many more markets in the coming months.”

Staying with LeoVegas, earlier this week the operator launched a record €5M+ progressive jackpot.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Crypto casino and sportsbook, Cloudbet, has added support for MakerDAO’s DAI stablecoin in Argentina and South America. 

As previously reported, earlier this month, Cloudbet officially launched its Argentina-focused service in response to strong demand – where customers are particularly keen to use stablecoins to hedge against the ongoing devaluation of the peso. 

DAI is a decentralised, collateral-backed cryptocurrency that is soft-pegged to the US dollar. Its stability is managed through a smart contract system of borrowing and lending, built on the Ethereum blockchain. 

In addition to DAI, Cloudbet also supports USD Tether, USD Coin, and Pax Gold stablecoins. 

Commenting on the news a Cloudbet spokesperson said:

“Stablecoins are supremely relevant in Argentina, where individuals are looking to protect the value of their assets. We said recently that we intend to add more coins that are specifically appropriate for this market, and we’re now following through.”

Cloudbet is one of the world’s oldest bitcoin betting operators, having been founded way back in 2013. Its move into South America is part of a wider international push to attract people to convenient crypto betting. 

In June 2020, the operator made a splash with an English Premier League campaign, which saw its sportsbook charge no margin on pre-match bets for all games left in the season. 

All original content featured on this site is © Pentagon Digital Limited, 2020.