Small decrease in Jackpotjoy Q3 gaming revenue offset by 40% Vera&John growth

By Tim Poole

Jackpotjoy Group has reported an 8% year-on-year rise in Q3 gaming revenue to £77.8m ($99.8m).

The operator also posted an adjusted EBITDA increase of 13% to £28.8m, thanks to strong earnings growth at Vera&John, while adjusted net income increased 36% year on year to £23.3m, due to a 36% decrease in interest expense.

Gaming revenue and adjusted EBITDA did decrease by 3% for Jackpotjoy to £52.1m, which accounts for 67% of group revenue.

However, Vera&John gaming revenue (33% of the group's total) grew by 40% to £25.7m and adjusted EBITDA by 71% to £8.4m. JPJ’s overall average active customers per month also grew 3% to 257,929.

Neil Goulden, JPJ Group Executive Chairman, said: "We are pleased with the quarterly performance of JPJ Group given reported gaming revenue growth of 8% and an uplift in adjusted EBITDA of 13%.

"The Vera&John segment is once again the stand-out, with year-on-year revenue growth of 41% on a constant currency basis. The growth at Vera&John highlights our strategy of international diversification, with 44% of group revenue generated outside the UK in Q3."

Shares in JPJ were up 0.17% to 598p on Thursday.


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