Gamesys enjoys strong first half
The expanded Gamesys Group saw strong growth in the UK and record revenue from Asia.
UK.- The expanded Gamesys Group has reported gaming revenue of £340million for H1, an increase of 100.6 per cent on last year.
The majority of the difference came through the group’s acquisition by JPJ last September, but the group also saw strong organic growth, particularly from the UK but also with record revenue from Asia.
The group estimates on a proforma basis that after accounting for growth through the acquisition, revenue grew by 27.2 per cent. It said it now expects its full-year revenue and adjusted EBITDA to come in “comfortably ahead” of previous predictions.
The UK contributed by far the largest share, with revenue rising 153.1 per cent to £197.4million. It estimates UK organic growth of 15.6 per cent despite its expansion of responsible gaming measures and suspension of non targeted marketing at the start of Q2.
As part of a voluntary suspension of TV and radio advertising, Gamesys gave its sponsorship of ITV chat show Loose Women to Women’s Aid. The company also highlighted how it was now going above and beyond Gambling Commission standards on responsibility, following its fine from the Commission last year.
The operator reported that its change of strategy to focus on other recreational and entertainment content led to a 28 per cent rise in chatroom engagement and 53 per cent rise in non-wagering sessions, which it said accounted for over half of all sessions in the UK during H1.
It saw a 34 per cent increase in the number of players setting deposit limits, and a 44 per cent rise in proactive intervention.
The Asian market also saw a strong half, with record revenue of £98.9million, up 92 per cent year-on-year. The jump was impulsed by new customer growth, steady momentum in Japan and the launch of InterCasino.
It was only in Europe that numbers went the other way, with revenue falling 4.4 per cent to £34.4million despite Spain and Germany delivering growth.
Results in Sweden continued to flag, and the company said it had decided to no longer make significant investments in customer acquisition in the country. However, the launch of its second European brand, Monopoly Casino, in June has been encouraging, it said.
Rest of the world, led by online casino revenue in New Jersey, saw decent growth from its low base, reaching revenue of £9.3million, a pro forma increase of 2.2 per cent.
Gamesys Group Chief Executive, Lee Fenton, said: “It has been very pleasing to oversee another strong half-year performance, with reported gaming revenues doubling across the group year-on-year.
“Our strong brands, operational control and proprietary technology have allowed us to drive growth in established markets such as the UK, while also delivering strong results in fast-growing markets in Asia and [rest of the world].
“At the heart of this has been our commitment to responsible gambling, which was vital during a period in which many of our players were living in lockdown.
“As a result, we took decisive action during the period to enhance our player protection, both through investing in new capabilities and resources, and also ceasing certain marketing activities.
“We believe that this enlarged and highly engaged customer base will be key to driving sustainable growth in the future, positioning us well for the exciting opportunities ahead.”
The company announced that it had made “substantial progress” on the integration of Gamesys and JPJ Group and that Transition Director Simon Wykes will step from the board after finishing his role on September 30.
Meanwhile, Executive Chairman Neil Goulden will step back to Non-Executive Chair from October 1.
