Jackpotjoy has recorded double digit progress in the first quarter of this year, following on from full-year igaming revenues rising by 14 per cent year-on-year.
Online casino subsidiary Vera&John grew 28 per cent in 2017, helping gaming growth to a 14 per cent rise. Gaming revenue overall was £304.6m, up from £266.9m in 2016.
Net losses were at £67.9m, from £40.6m in 2016, but operating cash flows were £101m from £83m the year before. Adjusted EBITDA increased six per cent to £108.6m.
In Q1 2018, there was a 12 per cent growth in revenues to the end of February and the group stated it has “comfortable cash resources” to meet the earn-out payment due to Gamesys in June for the Spanish assets Botemania.
Neil Goulden, Jackpotjoy’s executive chairman, said: "The record financial results we achieved in 2017 reflect the dedication, ambition and work ethic present in employees across the business.
“As an organisation, we are committed to delivering the best customer experience across all our gaming verticals. We also strive to represent the highest standards of consumer best practice in our industry. This is underpinned by wholehearted support for the ethos of responsible gambling and proactive monitoring of player behaviour.
“We are confident of our prospects for growth against a healthy market backdrop in global online gaming and determined to ensure we present an entertaining, fun and responsible environment for our customers to enjoy."
