Gamesys reports 'strong' performance in Q1 amid ongoing momentum

Thu, 23rd Apr 2020

Gambling company Gamesys said revenue grew by nearly a fifth the first quarter of the year amid ongoing momentum in the UK and Asia. For the three month period ended 31 March, revenues increased by 19% to £155.3m on-year reflecting the 'strong growth in Asia and solid performance in the UK,' the company said. 'Within Europe, Spain and Germany continued to make progress and revenues for the region as a whole would have been ahead but for the continued weakness in Sweden,' it added. In the US, meanwhile, the strong momentum seen in 2019 continued, with double-digit growth recorded during the first quarter of the current year. 'The group has made a good start to the second quarter and although it is still early in the period, trends are so far broadly in line with those experienced in the first quarter. Gamesys said it had suspended untargeted customer marketing and would cease all TV and radio advertising in the UK until current social restrictions are lifted to ease the risk to those with gambling disorder. At 8:28am: (LON:GYS) Gamesys Group PLC share price was +49p at 850p Story provided by StockMarketWire.com

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