Gamesys delivers 'outstanding financial performance' in 2020
Gamesys Group
1,850.00p
16:45 30/09/21
Online gaming operator Gamesys said on Tuesday that it had delivered an "outstanding financial performance" in 2020, with both revenues and underlying earnings improving throughout the year.
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Gamesys said both revenues and adjusted underlying earnings had grown 75% in 2020 to £727.7m and £206.2m, respectively, while net income from continuing operations surged from £9.1m to £67.2m.
The FTSE 250-listed firm said its revenue growth was primarily due to ongoing "impressive growth" in Asia and "a strong performance" in the UK.
Following "a very good start" to the 2021 trading year, Gamesys said it was currently trading in line with expectations and stated it remained "excited" by its growth prospects in its fast-growing Asian market.
Gamesys added that it expects to be live in more US states as it continues to legislate at pace and also anticipates building the company's presence in Canada as it too moves to regulate online gaming.
"Our sustained operational execution, robust cash generation and strong balance sheet means we remain confident about our ability to deliver significant revenue growth and to generate returns for our shareholders," said Gamesys.
As of 0830 GMT, Gamesys shares were up 0.98% at 1,448.0p.