Global Gaming has reported that it is “back to profitability” in the second quarter of the year after generating operating profit of SEK 1.1m ($126,444), up from a loss of 11.1m in 2019.
Despite this, revenue still saw a 46% drop year-on-year, to SEK 71.8m, while profit after tax was SEK 1m, up from a loss of 11.8m last year.
Revenue for the first six months of the year amounted to SEK 129.7m, a decrease of 56% from the same period in 2019.
For H1, operating profit was SEK 800,000, up from a loss of SEK 54.5m, while profit after tax was SEK 700,000, a significant increase from last year's loss of SEK 53.3m.
During Q2, Global Gaming gained a new main shareholder as Enlabs AB announced a 29.9% acquisition in the company, and Peter Fagrell took over as CEO of the operator’s Maltese subsidiaries.
Commenting on the results, Global Gaming CEO Tobias Fagerlund, said: “I am proud and happy about the very good work we have done during the past year and look forward with excitement and confidence to the future.
“Not least, I look forward to an in-depth dialogue with our new major owner, the Enlabs Group.”