Group targets US following Q1 revenue growth

22 May 2019 Group has reported a 52% year-on-year increase in revenue for the first quarter of 2019, with the affiliate marketing giant to invest in the development of products for the US market in the year ahead.

Total revenue for the three months to March 31, 2019 grew to a record €5.2m ($5.9m), with organic growth accounting for around 50% of this total, or 98% of the year-on-year increase.

The vast majority (83%) of this sum came from locally regulated markets, Group noted, with new depositing customer (NDC) numbers up 66% to 26,525.

This growth came despite the affiliate admitting that it had been hit by the introduction of new gambling regulations in Sweden, its second largest market after the UK, from January 1, 2019. said regulation had provided long-term legal certainty in the market, and NDC production remained strong in Q1.

However, it noted, NDC values had decreased and Swedish revenue had fluctuated as its operator partners familiarised themselves with the new regulatory framework. Despite this, it said that it expects the market to stabilize and grow in coming quarters.

Read the full story on iGB North America.