GYS.L Share News (GYS)

(Sharecast News) - Online gambling software company Gamesys reported a rise interim earnings and revenue on Tuesday amid record performances in the UK and Asia.
In the six months to 30 June 2021, adjusted earnings before interest, tax, depreciation and amortisation increased 16% to £110.3m on revenue of £398.8m, up 17% on the same period a year ago.

In the UK, revenues rose 20% during the half, with Virgin Games, Monopoly Casino and Rainbow Riches Casino driving the strong performance. Meanwhile, Asia continued to deliver "significant" double-digit growth, with revenues up 30% year-on-year at constant currency.

European revenues fell by 29%, however, reflecting a more challenging regulatory environment in Germany, Scandinavia and, to a degree, in Spain. Rest of world revenues dipped 1%, with growth in North America offset by a contraction in other smaller markets.

Chief executive officer Lee Fenton said the group had delivered "another set of excellent results".

"This performance reflected significant double-digit revenue growth in our key markets of the UK and Asia and our continuing strong cash flow has seen leverage reduce further," he said.

"We are fully focused on operational execution, product innovation and the enhancement of safer gambling initiatives across all of our markets and we remain fully confident in the group's ability to deliver long-term sustainable growth."