Gamesys sees FY results at or above top end of consensus

(Sharecast News) - Online gaming company Gamesys said on Tuesday that FY 2020 revenue and adjusted earnings before interest, tax, depreciation and amortisation are set to be at or above the upper end of market expectations following a continued strong performance in the fourth quarter.
In an update on trading for the year to the end of December 2020, the Jackpotjoy owner said that following the merger to create Gamesys Group in 2019, the integration of operations has progressed as expected, despite the "unprecedented challenges" presented by the Covid-19 pandemic.

Chief executive officer Lee Fenton said the company had delivered a "tremendous" performance in 2020.

"Our strong growth is the result of excellent execution against our strategy, a deep understanding of our player base, and our commitment to always putting players at the heart of everything that we do," he said. "Against the backdrop of a global pandemic, our relentless focus on the sustainability of our revenue streams, coupled with ensuring player and staff wellbeing, has positioned us well to carry our considerable forward-momentum into 2021."

Fenton said Gamesys maintained "strong and sustainable" growth during the year, completing the integration of its enlarged group, entertaining record numbers of active players, and significantly enhancing its propositions and technology platforms.

"During the year, we also delivered a maiden dividend and as we enter 2021, we are in a strong position to continue to deliver growth in the business and create value for our shareholders," he added.