Published
OnlineCasinoFinancialIndustry

Global Gaming “back to profitability” for Q2

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.

globalgaming

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.”


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium Connections
Consultancy
Executive Profiles
Evolution
Crown Resorts
Relax Gaming
Gaming and Leisure Properties
Follow Us

Facing Facts: Analysing figures from emerging gambling markets

Where is the gambling market on the rise, and are there any...

Taking Stock: A guide to lottery/iLottery operator and supplier prices

Gambling Insider tracks lottery/iLottery operator and suppli...

New Horizons Cover Feature: United Arab Emirates

With its first land-based casino set to open in 2027 and a n...

New Horizons Cover Feature: Brazil

Brazil performed quite the feat by getting its heavily delay...

The best of Malta at the Global Gaming Awards

Powered by Gambling Insider, the Global Gaming Awards are th...

Preview: SiGMA Malta 2024

A place in the winter sun: SiGMA returns to the home of iGa...

Company profile: Soft2Bet

Bill 55: Advantages and challenges for Maltese operators in...

Company profile: DS Virtual Gaming

DS Virtual Gaming is a leader in the gaming industry, utilis...