SBC News Voice of the Sports Betting Industry
Gamesys Group Plc has praised its diversified brand portfolio and operational execution in delivering a group-wide record financial performance for 2020.
A transformed Gamesys achieved group revenues of £772 million, up 75% on corresponding full-year 2019 results of £415 million – with the company noting that it has secured all operating objectives, merging its legacy Jackpotjoy unit with Gamesys B2C brands.
Despite trading against a tough COVID-19 backdrop, Gamesys’ enlarged UK portfolio delivered a 19% increase in year revenues to £423 million (FY2019: £357m) – boosted by new brand growth (Virgin Games and Rainbow Riches) and higher active customer spend across its portfolio.
Supporting its home market growth, the company recorded a near doubling in Asian market revenues to £218 million (FY2019: £122m), stating that it has become ‘the clear market online casino leader within Japan’.
Meanwhile, in Europe the group matched its FY2019 revenue results of £68 million, reporting that the growth trajectory of its European brands had been strained by tough compliance demands enforced across Spain and Sweden.
Delivering double-digit growth across all core operating metrics, Gamesys reports a full-year adjusted group EBITDA of £206 million, up 75% on FY 2019 results of £117 million.
Completing year one trading on the LSE, an enlarged Gamesys declared a net income of £67 million, up 638% on FY2019’s results of £9 million.
The operator would further underscore its strengthened balance sheet, in which the company holds a cash reserve of £212 million, achieved whilst reducing its net debt by £312 million.
Lee Fenton, CEO, Gamesys Group plc, commented: “Despite 2020 being a year like no other, our ongoing focus on operational execution, product innovation and responsible gambling underpinned a strong performance, with pro-forma revenues increasing by 29% and pro-forma adjusted EBITDA up 30%.
“We continue to go from strength to strength in Asia, while the UK delivered strong double-digit revenue growth – all set against the backdrop of ongoing enhancements to our responsible gambling approach. We also remain excited by our prospects in North America, both in the US and Canada.
“Our focus on recreational customers, our differentiated brands, proprietary technology and established market positions, have attracted record numbers of players in 2020 and we believe this foundation will allow us to continue to deliver sustainable and long-term growth in the year ahead and beyond.”
