Jackpotjoy gaming revenue up 14%

Business News

Jakpotjoy has today announces the results of the Jackpotjoy group (the “Group”) for the year ended 31 December 2017.

Gaming revenue rose 14%, supported by 12% growth in the Jackpotjoy segment and 28% growth in Vera&John,  adjusted EBITDA1 increased 6% (growth of 8% on a like-for-like basis3), reflecting the planned increase in marketing costs in the second half of the year and the application of point of consumption tax to gross gaming revenue (“POC2”) in the UK in Q4. Adjusted net income1 decreased 9% year-on-year due to higher net interest costs.

Impressive ongoing cash generation and successful re-financing: Record £101.0 million of operating cash flow generated in 2017, equating to 22% growth year-on-year and 135p of operating cash flow per share.

Adjusted EBITDA1 to cash conversion of 93%.

Free cash flow (operating cash flow less capital expenditure) of £97.8 million.

Neil Goulden, Executive Chairman, commented:

“The record financial results we achieved in 2017 reflect the dedication, ambition and work ethic present in employees across the business. As an organisation, we are committed to delivering the best customer experience across all our gaming verticals. We also strive to represent the highest standards of consumer best practice in our industry. This is underpinned by wholehearted support for the ethos of responsible gambling and proactive monitoring of player behaviour.

We are confident of our prospects for growth against a healthy market backdrop in global online gaming and determined to ensure we present an entertaining, fun and responsible environment for our customers to enjoy.