Virgin Games and Monopoly Casino owner Gamesys cashes in on pandemic betting
The company behind gambling brands Virgin Games and Monopoly Casino today posted a sharp rise in revenue and profit as it cashed in on increased betting during the pandemic.
London-listed Gamesys posted revenue of £727.7m in 2020, an increase of 75 per cent on the previous year. Adjusted net profit surged 86 per cent to £155.4m.
The FTSE 250 firm said its average active players per month had jumped by a fifth as more Brits had a flutter, even despite tightening restrictions on gambling.
Gamesys also hailed “impressive” growth in Asia, where the launch of Inter Casino helped drive bumper revenues.
The company, which is led by former Gala Coral group chairman Neil Goulden, said it would pay an interim dividend of 28p, taking its total payout for the year to 40p.
Gamesys, which was reporting its first full-year results since its £490m acquisition by Jackpotjoy, said its current trade was in line with expectations.
The firm said it was cooperating with a review into UK gambling laws and said it was “excited” about growth in Asia and potential in the US, where gambling laws are currently being eased.
“We are pleased to announce another strong set of results, particularly against the backdrop of the Covid-19 pandemic, which has impacted so many across the world,” chair Goulden said in a statement.
“All our colleagues have done an incredible job in maintaining seamless business continuity throughout the year, while also enhancing our responsible gambling approach to ensure we remain a best-in-class operator in protecting our recreational players.”
Gamesys today also announced that chief people officer Tina Southall will join the board as an executive director.
Southall joined the company in 2014, having previously held senior roles at Vodafone, Avis and the RAC.