Gamesys Q3 revenue up 23% as Jackpotjoy returns to growth

By Owain Flanders

Gamesys Group revenue was £92.4m ($118.6m) for Q3 2019, a rise of 23% year-on-year.

In September, JPJ Group acquired Gamesys Holdings Ltd in a £250m cash deal, subsequently creating the new group.

As a result of higher UK gaming taxes, increased marketing spend and regulatory changes in Sweden, the group's adjusted EBITDA was £25.5m, a drop of 4%, leading to a fall in adjusted net income of 20%, at £17.7m.

Brands previously acquired by Gamesys, including Virgin Games, Virgin Casino, Heart Bingo and Monopoly Casino, saw revenue growth of 22% in total.

The operator attributed the majority of its revenue increase to a return to growth for Jackpotjoy, as a result of "enhanced responsible gambling measures," with the bingo website generating 56% of total group revenue for the period.

Lee Fenton, Gamesys CEO, said: "It is a very exciting time for all involved at Gamesys.

"The successful combination of two leading and complementary businesses with a unique technology offering, a strong pool of talent and an enhanced portfolio of brands, ensures the group is in a strong position to take advantage of future growth possibilities and we are already reaping the benefits in terms of operating performance."

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