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Gamesys earnings fall in Q3 as impact of higher UK gaming taxes offsets revenue growth

Wed, 13th Nov 2019

Online gaming group Gamesys said earnings fell in the third quarter as higher UK gaming taxes introduced earlier this year offset revenue growth. For the three months ended 30 September 2019, revenue rose 23% to £92.4m and adjusted earnings fell 8% to £25.5m, principally due to the tax hit. Jackpotjoy, which made up 56% of revenue, generated gaming revenue growth of 5% due to a return to growth at Jackpotjoy UK and double digit growth from Botemania in Spain. But on a like-for-like basis, revenue in the segment was broadly flat. The Vera&John business continued its high growth in international markets, increasing gaming revenue growth by 57%. At 9:46am: (LON:GYS) share price was -27p at 678p Story provided by StockMarketWire.com

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