Acroud sees revenue drop 18.3 per cent

Adjusted EBITDA fell 31.8 per cent to €5.7m
Adjusted EBITDA fell 31.8 per cent to €5.7m

The affiliate marketing business saw revenue decline to €11.6m in 2020.

Malta.- Affiliate marketer Acroud has reported revenue of €11.6m for 2020, a decline of 18.3 per cent year-on-year.

It also saw an 18 per cent decline in the number of depositing customers.

Adjusted EBITDA fell 31.8 per cent to €5.7m while adjusted profit fell 28.3 per cent to €3.2m. 

Chief executive Robert Andersson said the downturn was due to “regulative effects” as the company aims to target regulated markets.

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The company said it would not pay a dividend for 2020, and will instead focus on prioritising growth initiatives. It noted that it had seen a 3 per cent rise year-on-year in depositing customers in the final quarter.

The news comes as the Malta-headquartered company, formerly known as Net Gaming, published a letter of intent to acquire an unnamed US “software-based tipster service” for €5m and to acquire the igaming assets of online marketer PMG Group.

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