(Alliance News) - Online gaming operator Gamesys Group PLC on Thursday reported double-digit revenue growth and hailed its "robust financial health".
Revenue, on a pro-forma basis, rose 19% to GBP155.3 million in the three months to March 31.
"Reflecting the strong growth in Asia and a solid performance in the UK," Gamesys added.
"Within Europe, Spain and Germany continued to make progress and revenues for the region as a whole would have been ahead but for the continued weakness in Sweden. The US continued the strong momentum seen in 2019 with healthy double-digit growth during the first quarter of the current year."
The company also reported a "good start" to the second quarter.
Gamesys began operating in its current guise in the autumn of 2019. It was formed by JPJ Group's GBP490 million purchase of Gamesys Holdings Ltd.
Gamesys said: "The group's balance sheet is in robust financial health with a non-amortising, covenant-light debt facility which matures in December 2024. This provides us with a highly competitive cost of borrowing following the re-pricing announcement in January."
Operators have faced calls to introduce curbs to protect consumers from "problem gambling" during the lockdown.
Gamesys said it has suspended "untargeted customer marketing" and has removed all Jackpotjoy branding at ITV PLC's daytime talk show Loose Women.
"During this period, we will continue to advertise our brands online although we will also be suspending direct-mail marketing and untargeted digital advertising," Gamesys added.
Gamesys shares were 4.9% higher at 840.00 pence each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
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