KamaGames posts record revenue in Q1

Social gaming operator KamaGames has announced that gross revenue reached a record $29.3m (£23.7m/€27.0m) in the first quarter of the year.

Revenue during the three months to 31 March was up by 37% on a year-on-year basis, representing a new quarterly high for the business. The operator put this primarily down to a number of features, games and improved monetisation mechanics rolled out in 2019.

KamaGames also set a new record in terms of the number of unique paying users engaging with its titles, with this rising between 20% and 30% for each month of the quarter.

The operator also issued an update in regards to the impact of the global novel coronavirus (Covid-19) crisis, saying its performance had not been adversely affected by the outbreak.

In fact, KamaGames said the number of new users in countries where quarantine had been enforced increased by 30% in Q1, with revenue in these markets also demonstrating growth towards the end of March. However, the operator said this growth did not have a significant effect on its overall results for the quarter.

Looking to the second quarter, KamaGames said that it would continue to update its social casino games portfolio in support ongoing growth. This will include the introduction of new features targeted at engaging players worldwide.

Towards the end of the first quarter, KamaGames announced that it had linked up with Hard Rock International to launch a new social casino mobile app. Hard Rock Blackjack features a range of free-to-play casino games from KamaGames’ portfolio, including roulette, craps, baccarat, blackjack and slots.

Record results in the first quarter follow on from an impressive performance by the operator in 2019, during which it experienced its fourth consecutive year of growth. Revenue grew 18.3% year-on-year to $90.4m in the 12 months to 31 December 2019.