Gamesys Group PLC Announces Q1 2021 Trading Update

Rhea-AI Summary

Gamesys Group plc reported strong Q1 2021 results with total revenues of £197.8m, marking a 27% increase from Q1 2020. The growth was attributed to consistent trends in international markets, particularly in the UK and Asia. The company emphasized robust cash generation and continued deleveraging, supporting a strong balance sheet. CEO Lee Fenton highlighted ongoing operational execution, product innovation, and a commitment to safer gambling as key drivers for sustainable growth.

Positive

• Q1 2021 revenues increased by 27% to £197.8m compared to Q1 2020.
• Strong performance driven by growth in UK and Asia markets.
• Continued cash generation and deleveraging support a robust balance sheet.

Negative

• Risks associated with regulatory compliance and market conditions.
• Dependence on securing qualified personnel and management.

LONDON, UK / ACCESSWIRE / April 13, 2021 / Gamesys Group plc (LSE:GYS) (the 'Group') announces an update on Q1 trading for the three month period ending 31 March 2021.

The Group is pleased to report a strong performance in Q1 2021, with total revenues of £197.8m representing an increase of 27% compared to Q1 2020. The trends seen across our international markets have been broadly consistent with Q4 2020 and include strong growth in our two most significant regions, the UK and Asia.

Cash generation continues to be a standout feature and deleveraging has continued into 2021 to further underpin our robust balance sheet.

Lee Fenton, Chief Executive Officer, Gamesys Group plc, commented: "Our ongoing focus on operational execution, product innovation and enhanced safer gambling that was communicated at our FY20 results has continued into 2021, culminating in another strong performance in Q1. Our talent base continues to grow, our technology continues to evolve and we are always learning how to serve our players with a better, fully personalised customer experience, all of which gives the Board confidence in our ability to drive long term sustainable growth."

About Gamesys Group plc

Gamesys Group plc is the parent company of an online gaming group that provides entertainment to a global consumer base. Through its subsidiaries, Gamesys Group plc currently offers bingo and casino games to its customers using brands which include Jackpotjoy (www.jackpotjoy.com), Virgin Games (www.virgingames.com), Botemania (www.botemania.es), Vera&John (www.verajohn.com), Heart Bingo (www.heartbingo.co.uk), Monopoly Casino (www.monopolycasino.com), Rainbow Riches Casino (www.rainbowrichescasino.com) and MEGAWAYS Casino (www.megawayscasino.com).

Enquiries

Gamesys Group plc
Jason Holden, Director of Investor Relations
+44 (0) 207 478 8150
jason.holden@gamesysgroup.com

Finsbury
James Leviton, Robert Allen
+44 (0) 207 251 3801
gamesysgroup-LON@finsbury.com

Forward looking information

This news release may contain statements that constitute 'forward-looking information' within the meaning of applicable laws, including Canadian securities legislation. Forward-looking information contained in this news release includes, but is not limited to, comments regarding future trading and cashflow. Words such as 'plans', 'expects', 'estimates', 'projects', 'predicts', 'targets', 'seeks', 'intends', 'anticipates', 'believes', 'may', 'could', 'should', 'might' 'will' or similar expressions suggesting future outcomes or events are intended to identify such forward-looking information. Such forward-looking statements are based on current expectations, estimates, forecasts and projections about the Group's business and the industry, regulatory and economic environments in which it operates, and include beliefs and assumptions made by management of the Group which may prove to be incorrect, including, but not limited to: the ability of the Group to secure, maintain and comply with all required licences, permits and certifications to carry out business in the jurisdictions in which it currently operates or intends to operate; no unforeseen changes in governmental or regulatory policies, including the introduction of new laws or changes in existing laws (or the interpretation thereof) related to online gaming; no downturn in business, economic or market conditions (including market growth rates); and the ability of the Group to obtain additional financing, if, as and when required. Gamesys believes that these are reasonable assumptions, based on information currently available to the Group.

Whether actual results and developments will conform with the expectations and predictions contained in the forward-looking information is subject to a number of risks and uncertainties, many of which are beyond the Group's control. Factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking statements include, among other things: risks relating to the lack of available and qualified personnel or management; stock market volatility; taxation policies; competition; foreign operations; the Group's limited operating history and the Group's ability to access sufficient capital from internal or external sources.

There can be no assurance that forward-looking statements will prove to be accurate, as actual results may differ materially from those expressed in or implied by the forward-looking information contained in this news release. All forward looking information in this news release speaks as of 13 April 2021. While subsequent events and developments may cause the Group's expectations, estimates and views to change, the Group does not undertake or assume any obligation to update or revise any forward-looking information, except as required by applicable law.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com

SOURCE: Gamesys Group PLC

View source version on accesswire.com:
https://www.accesswire.com/640123/Gamesys-Group-PLC-Announces-Q1-2021-Trading-Update

FAQ

What were Gamesys Group plc's revenues for Q1 2021?

Gamesys Group plc reported revenues of £197.8m for Q1 2021.

How much did Gamesys Group plc's revenues increase compared to Q1 2020?

The revenues increased by 27% compared to Q1 2020.

Which markets showed strong growth for Gamesys Group plc in Q1 2021?

The UK and Asia were the two most significant markets showing strong growth.

What is the outlook for Gamesys Group plc following Q1 2021 results?

The company highlighted a focus on operational execution and product innovation for long-term sustainable growth.

Are there any risks mentioned in the Gamesys Group plc Q1 2021 report?

Yes, risks include regulatory compliance, market conditions, and securing qualified personnel.