(Alliance News) - Gamesys Group PLC on Tuesday reported revenue and profit growth in the first half of 2021, as the gambling software maker awaits completion of its GBP2.02 billion acquisition by Bally's Corp.
Revenue increased 17% year-on-year to GBP398.8 million from GBP340.0 million. Pretax profit rose 21% to GBP32.4 million from GBP26.7 million.
Shares were little changed at 1,845.00 pence in London, with the offer from Bally's worth 1,850p per share.
The six-month performance was driven by the UK, with sales up 20%, and Asia, where sales rose by 30% in constant currency. But Europe lagged, with revenue declining 29% after stricter gambling regulations came into force in Germany, Scandinavia and Spain.
Gamesys declared an interim dividend of 15.0p per share, as it is allowed to under the terms of the takeover. The deal is expected to complete in the fourth quarter.
"The group has 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," Chief Executive Lee Fenton said.
By Ivan Edwards; ivanedwards@alliancenews.com
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