Home > Finance > Gamesys expects to beat projections after “outstanding” 2020

Gamesys expects to beat projections after “outstanding” 2020

| By Robert Fletcher
Gamesys Group has said it expects revenue for its 2020 financial year to either surpass or be at the upper end of market expectations, after experiencing what it described as an “outstanding” operational performance during the year.

The operator said that following the merger between JPJ Group, the owner of the Jackpotjoy brand, and the legacy Gamesys business in 2019, the integration of operations progressed as expected in 2020.

This, Gamesys said, was despite the business facing “unprecedented challenges” as a result of the novel coronavirus (Covid-19) pandemic, which impacted its operations for the majority of the past year.

Gamesys added that much of its success in 2020 was down to its intensified focus on responsible gambling, as well as prioritising the health and wellbeing of both its players and employees.

This included the group halting all non-targeted customer marketing, including television and radio advertising, during the first Covid-19 lockdown in the UK in March 2020.

As such, Gamesys said revenue for the 2020 financial year, along with adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) will be above or at the upper end of market expectations for the 12-month period.

“Against the backdrop of a global pandemic, our relentless focus on the sustainability of our revenue streams, coupled with ensuring player and staff wellbeing, has positioned us well to carry our considerable forward-momentum into 2021,” Gamesys chief executive Lee Fenton (pictured) said.

“We maintained strong and sustainable growth during 2020; a period in which we completed the integration of our enlarged group, entertained record numbers of active players, and significantly enhanced our propositions and technology platforms.”

Fenton also pointed out Gamesys was able to push ahead with its inaugural dividend in 2020, with shareholders being paid in October.

“As we enter 2021, we are in a strong position to continue to deliver growth in the business and create value for our shareholders,” Fenton added.

Gamesys counts the likes of Jackpotjoy , Virgin Games, Botemania, Vera&John, Heart Bingo, Monopoly Casino and Rainbow Riches Casino among its operating brands.

Subscribe to the iGaming newsletter