NeoGames records 54% increase in revenue for Q4

NeoGames has posted its Q4 and full year (FY) report for 2022, showing $69.2m in revenue during the former.

neo games q4
Listen To Article

For Q4, NeoGames saw a 54% increase in revenue, with $12.3m made in the same period for 2021 (the stark contrast is mainly due to mergers, as explained later on).

Its net loss of $800,000 was significantly less than the $3.6m from the year before, while its adjusted EBITDA was up 129% for 2022 at $18.1m.

For the year, the company reported revenue of $165.7m – up from 2021’s $50.5m. Net loss came in at $19m and its adjusted EBITDA totalled $54.5m against $33.4m for the year prior.

The reason behind NeoGames’ strong financial performance in 2022 comes from its NPI agreement with Pollard Banknote, acquiring Aspire Global, signing six new deals with Pariplay and launching its iLottery and sports betting offering through Intralot in Brazil.

Moti Malul, CEO of NeoGames, said of the findings: “We significantly evolved our business through our acquisition of Aspire Global, expanding beyond our position as a leader in global iLottery solutions and propelling us to becoming a global leader in providing technology and content solutions across iLottery, online sport betting and iGaming.

“Our results underscore the advantage of our ability to serve customers on an integrated basis, whether they need solutions for iLottery, online sports betting, iGaming, or any combination of services.

"We ended the year by growing our iLottery revenue by 33% during the fourth quarter and our iGaming revenue by 27% as measured on a constant currency pro forma basis from the prior year."

Premium+ Connections
Premium Connections
Executive Profiles
Wynn Macau
MGM Resorts Japan
Bloomberry Resorts Corporation
Sightline Payments

Global Gaming Awards Asia: What to expect in 2023

Gambling Insider looks ahead to the Global Gaming Awards Asi...

The power of the rebrand

With the help of industry experts, Gambling Insider Editor T...

Evolution Europe CEO Gionata La Torre: The Italian job

Evolution Group’s new CEO Europe, sits down with Gambling...

Big Question: How can slots innovate from here?

Simon Hammon, CEO of Relax Gaming, Erkki Nikunen, Partner &...

Read Magazine

30 March, 2023

Wilfred Wong: Macau “cannot just rely on gaming”

Sands China’s President and Executive Director, Wilfred Wong, has echoed earlier calls by the Chinese Government to diversify the gambling province of Macau.