Gamesys sees 27% increase in Q1 revenue

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Gamesys sees 27% increase in Q1 revenue

Gamesys has announced its trading figures for the first quarter of 2021, which demonstrate strong online performance. 

The company’s total revenue reached £197.8m ($272.1m) for Q1, shows a 27% increase year-on-year. 

Lee Fenton, CEO at Gamesys Group plc, said: “Our ongoing focus on operational execution, product innovation and enhanced safer gambling that was communicated at our FY20 results has continued into 2021, culminating in another strong performance in Q1.  

“Our talent base continues to grow, our technology continues to evolve, and we are always learning how to serve our players with a better, fully personalised customer experience, all of which gives the board confidence in our ability to drive long-term sustainable growth.” 

The trading update sent out by Gamesys also observed that the trends it’s seeing across Gamesys’ international markets has been consistent with figures from the fourth quarter of 2020. This includes a strong growth in two of the company’s most significant regions, the UK and Asia. 

While cash generation continues to be the most prominent feature, deleveraging has continued into 2021 to help support Gamesys’ balance sheet. 

More recently, Gamesys has reached an agreement with Bally’s that would see the latter acquire the company.