Gamesys expects FY results to benefit from strong Q4
The newly formed Gamesys Group has said it expects full-year revenue and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to be at the upper end of its expectations, after it was boosted by a strong performance in Q4.
The gambling operator and content developer said in a pre-close trading update that strong growth in overseas markets and progress made by its UK brands in the second half of the year mean 2019 looks set to be a “landmark year”.
The operator did not release any financial figures at this stage, but did say that despite having to commit resources to its acquisition of Gamesys – when it was operating as JPJ Group – its operational focus did not waver.
JPJ Group completed the £490m (€571.1m/$635.6m) acquisition of a number of assets from Gamesys Group in September, and began trading as Gamesys Group almost immediately after.
“2019 was a truly transformative year as the JPJ and Gamesys businesses were reunited, creating a combined Group with strong global brands, complete operational control and ownership of our technology platforms," Gamesys Group chief executive Lee Fenton said.
“As we enter 2020, we remain in a strong position to continue to deliver growth and to create value for shareholders.”
The acquisition saw JPJ take ownership of Gamesys' technology platform and content studios, as well as certain B2C brands such as its New Jersey-licensed Virgin Casino site, operated in partnership with Tropicana. It also gained its UK-facing Virgin Games, Heart Bingo and Monopoly Casino brands.
However, Gamesys retained its Virgin-branded sportsbook, the Livescore sports media and data business, its non-bingo games studio, and minority equity investments in a Norwegian games studio and a US sports betting business.
JPJ, then Intertain Group, previously acquired the Jackpotjoy brand from Gamesys in 2015.