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Jerome García October 20, 2020 4 min read
Gamesys Reports Strong Revenue Growth in Q3 2020
Revealing the latest trading update, Gamesys outlined strong revenue growth in Q3 2020. The operator performed extremely well despite the many difficulties brought by the COVID-19 pandemic. Responsible gambling is a focus of Gamesys and the company remains extremely proactive.
Gamesys’ Third Quarter Brings Strong Revenue Growth
The leading online entertainment provider Gamesys Group revealed its third-quarter trading update for the three months ending September 30, 2020. The operator outlined that the positive trends seen in the first half of 2020 continue in Q3 2020. Gamesys reported strong revenue growth for the third quarter. According to the company’s report, revenue increased to £190.0 million. Year-on-year comparison with Q3 2019, in Q3 2020 we observe a revenue increase of 31%.
Without revealing solid percentages the company said that the revenue was aided by high double-digits in the Asian market. Furthermore, Gamesys reported a solid performance in the UK market. The U.S. also contributed with a healthy double-digit towards the revenue, while Europe and Spain continued to make good progress.
Highlighting the good momentum in Q3, Gamesys said that the ‘Monopoly Casino’ in Spain proved to be one of the most successful new brand initiatives in the history of the company. A strong performance was also observed in the UK, with the brand ‘Rainbow Riches Casino’ which continued to show impressive growth since its launch in 2019.
The second brand launched in Japan – Intercasino also helped the excellent performance of the Asian market. While acknowledging that it is still early to determine, the operator said that Q4 made a good start and it is expected for the same trends that were observed in the first nine months to continue until the end of the year.
The Operator Performed Extremely Well, despite COVID-19
In a statement, Lee Fenton, Chief Executive Officer, Gamesys Group plc said that the company performed extremely well during Q3. He reported strong organic revenue growth along with an increasingly active customer base. Fenton stressed that the company has seen solid progress across both core and growth markets globally. Acknowledging the challenges which COVID-19 imposed, Fenton said that Gamesys’ workforce provided seamless business continuity, despite many of the employees functioning remotely.
“Looking ahead, our portfolio of established and trusted brands, complete ownership of our technology platforms and a strong balance sheet, underpin our ability to thrive in the long term.”Lee Fenton, Chief Executive Officer, Gamesys Group
Further to the statement by Gamesys, the company said the health and well-being of employees and players remained a top priority, despite the unprecedented challenges brought by COVID-19. The company added that its productivity improved, while at the same time a large portion of the workforce remains working remotely.
Gamesys Keeps Focus on Player Protection and Responsible Gambling
Besides the strong revenue growth, Gamesys revealed that the company remains strongly committed to responsible gambling. In its statement, the operator said that in-line with the growth of its player base, the resources and capabilities of the responsible gambling team have increased. The operator implemented an increased awareness of player time and spend across all of its websites. The method included both automated and human monitoring. Furthermore, Gamesys continuously reminds players of the responsible gaming controls as well as the self-help tools which are available.
Gamesys acknowledged that it has been “extremely proactive” when it comes to interactions with players and helping them manage their entertainment spend. The operator paid particular attention to new customers and observed an increase in the players who have set deposit limits.
A significant achievement in Q3 was set on the UK market where approximately one-third of the total monthly active players have set a deposit limit. An interesting find of Gamesys was that over half of all sessions on the UK web sites did not include wagering. According to the operator, this “serves to emphasize the recreational and fun environment we have created for our community of players to enjoy.“