Gamesys Group has revealed it made £23.8m (€27.6m/$33.6m) in Q1, ahead of the £2.0bn deal for US-based Bally’s to acquire the operator.
As announced on April 13, the same day the merger details were made public, Gamesys made a total of £197.8m in revenue this quarter, a 27.3% increase from the first quarter of 2020.
The remainder of Gamesys’ first quarter results for 2020 were unavailable, meaning comparisons for expenses and final profit could not be made.
However, costs lowered revenue significantly for Gamesys. Distribution costs came to £107.7m, while administrative costs amounted to £58.0m. Severance costs at £800,000 and transaction costs at £1.9m brought expenses to £168.4m.
Foreign exchange changes resulted in a £4.2m expense for Gamesys, bringing the total costs to £164.2m.
This left earnings before interest and tax at £33.6m.
Interest expense totalled at £5.3m, bringing revenue down further to £23.8m. Tax expense, at £4.5m, brought Gamesys’ total net income to £23.8m in ..