Gaming company sets new high score with 15 per cent revenue increase
A gaming and software development group has announced a 15 per cent increase in revenue for 2019.
Gamesys, based in London, reported that on a pro-forma basis, gaming revenue increased by 15 per cent, and that reported gaming revenue grew by 35 per cent, which it says was driven by high organic growth in the UK and Asia.
However, the group reported that its net income has decreased by around 2 per cent, due to the cost associated with the acquisition of Gamesys (Holdings) in late 2019.
Neil Goulden, executive chair of Gamesys Group, commented: “This has been a transformative year for Gamesys Group and we reached an important corporate milestone after the year-end with the announcement of our forthcoming inclusion in the FTSE 250 index.
“The acquisition of Gamesys (Holdings) Limited was completed in September 2019 and has created a leading international operator, offering players an even greater choice of major brands and games.
“However, the Board is very well aware that we are now in uncharted waters given the global health crisis and related economic upheaval.
“Given the underlying uncertainty, we will remain flexible and agile in the implementation of our corporate strategy in relation to the balance between cash conservation, debt paydown and returning cash to shareholders.”
Lee Fenton, CEO of Gamesys Group, added: “I am delighted with Gamesys Group’s strong financial performance in 2019, particularly given the significant work undertaken around the acquisition and integration of the legacy Gamesys business.
“We remain active contributors to the debate around responsible gambling and in particular how the industry can best deliver the player protections needed whilst maintaining an exciting, trusted entertainment proposition.
“We want players to be in control of their gaming and we facilitate this with a wide variety of different tools for self-care and rigorous processes for the limited occasions that we need to intervene.
“It is not only the right thing to do, but it is our route to building healthy, long-term player relationships that result in sustainable revenue streams.”
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