Gamseys Group navigates tough times to deliver strong results
Gamesys Group said cash generation continued to be strong as revenue growth slowed slightly in the third quarter.
The FTSE listed online bingo and casino games operator reported revenue of £190mln in the three months to end-September, up 31% on a pro forma basis versus last year, and after 35% in the second quarter and 19% in the first.
There have been notable operational highlights during Q3, including good momentum demonstrated by ‘Monopoly Casino’ in Spain, which has proved to be one of the most successful new brand initiatives in the history of the Group. In the UK, another new brand ‘Rainbow Riches Casino’ continues to deliver impressive growth since its launch at the end of 2019.
The launch of Intercasino – a second brand into Japan – has helped underpin the on-going excellent performance of our Asian-facing operations.
The Group has made a good start to Q4 and, although it is still early in the period, trends are so far broadly in line with those experienced in the first nine months of FY 2020.
COVID-19 is presenting unprecedented challenges for businesses and individuals and looking after the health and wellbeing of our employees and players remains our priority.
The Group adapted rapidly to what remains a largely remote-based workplace environment and in certain areas, such as code deployment, we have seen an improvement in productivity. Our offices are slowly starting to open up, but we continue to take a cautious approach across our international footprint and ensure we comply with all the associated regulatory requirements in each local market.
Lee Fenton, Chief Executive Officer, Gamesys Group plc, commented: “We have performed extremely well during Q3, with strong organic revenue growth, an increasing active customer base, and solid progress made across both our core and growth markets globally.
Despite the challenges of COVID-19, our workforce is providing seamless business continuity as most of them continue to function remotely in line with guidance. We also remain focused on player protection, with an emphasis on proactive engagement and the promotion of responsible gambling tools.
Looking ahead, our portfolio of established and trusted brands, complete ownership of our technology platforms and a strong balance sheet, underpin our ability to thrive in the long term.”