Jackpotjoy gaming revenue up 14% during FY2017
Online lottery betting and gaming company Jackpotjoy has revealed its gaming revenue rose by 14% year-on-year during 2017.
Announcing its results for the full- year, the company reported 2017 gaming revenues of £304.6m, surpassing the £266.9m generated during 2016.
The company has confirmed that this rise in gaming revenues was primarily down to 12% growth in the Jackpotjoy segment of the business and 28% growth in the Vera&John segment.
Adjusted EBITDA increased by 6% during the year, however adjusted net income decreased 9% year-on-year due to higher net interest costs.
Jackpotjoy generated a record £101m of operating cash flow in 2017, which equates to 22% growth year on year, while its adjusted debts reduced from the £408.1m reported in 2016 to a healthy £387.3m in 2017.
In terms of individual business areas, Jackpotjoy accounted for 69% of group revenue while it’s Vera&John and Mandalay brands accounted for 24% and 7% of group revenue respectively.
Accompanying the results was a statement from Jackpotjoy Executive Chairman Neil Goulden, 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.”
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