Gamesys Group announces strong fourth quarter results

Finance News

Gamesys Group reported “strong” results for 2020 despite the “unprecedented” challenges set by the Covid-19 pandemic.

Revenue was GBP727.7 million, up 75% from GBP415.1 million in 2019. Back in January, it said it was “confident” that revenue will be at, or above, the top end of market estimates.

This increase was due to ongoing “impressive” growth in Asia, as well as a “strong” performance in the UK, even with enhanced responsible gambling measures.

“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,” said Chief Executive Lee Fenton.