NeoGames reports $49m full year 2020 revenue in first results as publicly traded company

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NeoGames reports $49m full year 2020 revenue in first results as publicly traded company

NeoGames has announced revenue of $49m (£35.1m) for full year 2020, a 49% increase from the prior-year period.

In its first set of financial results as a publicly traded company, the lottery solutions provider also posted revenue for Q4 2020, with the $14m figure representing a 56% increase from the prior-year period.

Adjusted EBITDA for Q4 2020 rose 161% from Q4 2019 to $9m, with full year 2020 adjusted EBITDA totalling $28.7m, a 142% increase from full year 2019.

“We are proud to be reporting our results for the first time as a publicly traded company,” said NeoGames CEO Moti Malul. “The past year was pivotal for NeoGames and the execution of our strategic goals. 2020 has definitely been transformational for NeoGames.”

NeoGames began 2020 with a six-year extension of its contract with Sazka, before expanded with the Virginia Lottery and the Michigan State Lottery, as well as agreeing a contract with Alberta Gaming, Liquor & Cannabis (AGLC) in Canada.

“The year also marks positive signs for the growth of iLottery around the world,” added Malul. 

“As regulators realize the potential value iLottery can provide to tightening governmental budgets, particularly during the uncertain times brought on by the COVID-19 pandemic, NeoGames continues to represent a trusted provider with superior technology and premium content driving the most profitable iLottery programs.”