Jackpotjoy posts revenue growth despite losses

Jackpotjoy has reported a 14% year-on-year rise in revenue for the 12 months to December 31, 2017, despite a 67% increase in net loss.

Gaming revenue amounted to £304.6m (€347m/$427.2m), up from £266.9m in the previous year.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 6% year-on-year from £102.2m to £108.6m, while operating cash flows hiked 22% from £83m to £101.

However, net loss, as reported under IFRS, widened from £40.6m in 2016 to £67.9m in the past year.

In addition, adjusted net income dropped 9% from £83.5m to £76.1m.

Diluted net loss per share increased 61% to £0.92, while diluted adjusted net income per share dropped 10% from £1.13 to £10.02.

Neil Goulden, executive chairman of Jackpotjoy, said: “The record financial results we achieved in 2017 reflect the dedication, ambition and work ethic present in employees across the business.

“As an organisation, we are committed to delivering the best customer experience across all our gaming verticals; we also strive to represent the highest standards of consumer best practice in our industry.

“This is underpinned by wholehearted support for the ethos of responsible gambling and proactive monitoring of player behaviour.

“We are confident of our prospects for growth against a healthy market backdrop in global online gaming and determined to ensure we present an entertaining, fun and responsible environment for our customers to enjoy.”

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