Gamesys confident it will perform above market expectations in 2021

by Mia Chapman Last Updated
Gamesys confident it will perform above market expectations in 2021

Online gaming operator Gamesys said it was confident its revenue and adjusted earnings before tax, interest, depreciation and amortisation will be at or above current market expectations for the 2020 financial year.

Gambling Insider reports the operator added that the integration of operations has progressed as expected after the merger with JPJ Group to create Gamesys Group in 2019, despite the challenges presented by the ongoing pandemic.

“Gamesys has delivered tremendous performance during 2020,” chief executive Lee Fenton said.

“Our strong growth is the result of excellent execution against our strategy, a deep understanding of our player base and our commitment to always putting players at the heart of everything we do.

“Against the backdrop of a global pandemic, our relentless focus on the sustainability of our revenue streams, coupled with ensuring player and staff wellbeing, has positioned us well to carry our considerable forward momentum in 2021.”

Mr Fenton is encouraged by the operators’ “sustainable growth”, stating that the business is in a health position financially moving forward.

The Gamesys CEO said: “We maintained strong and sustainable growth during 2020; a period in which we completed the integration of our enlarged group, entertained record numbers of active players and significantly enhanced our propositions and technology platforms.

“During the year, we also delivered a maiden dividend and as we enter 2021, we are in a strong position to continue to deliver growth in the business and create value for our shareholders.”

Scientific Games provides leading lottery tech to German operator 

A new lottery gaming system has been rolled out in Germany to support the retail and growth plans of some of the country’s biggest lottery operators.

European Gaming reported in December that Scientific Games has rolled out its new Symphony lottery gaming systems technology with Lotto Baden-Wurttemberg.

The new system will power the lotto operator and its network of more than 3000 licensed retailers in Stuttgart and provide support for the lottery’s full line of lottery products including Lotto 6aus49, EuroJackpot, GlucksSpirale, Keno, Toto, Oddset sports betting and other instant games.

“As the first lottery worldwide to launch the latest generation Symphony platform, we are leading the way for other lotteries in the industry to understand the importance of systems technology and third-party integration capabilities for future growth,” Lotto Baden Wurttemberg’s Georg Wacker said.

“We are extremely pleased with our decision to continue collaborating with Scientific Games as our technology partner, and launch Symphony as our next-generation gaming system to support our retail and digital growth plans over the coming years.”

Lottery group chief executive for Scientific Games Pat McHugh said the Germany operator has demonstrated its trust in Scientific Games’ cloud-based omnichannel technology and its sustainable growth expertise.

“We congratulate Lotto Baden Wurttemberg on its decision to advance operations and be prepared for future challenges and positioned for sustainable growth,” vice president strategic sales and marketing, international lottery accounts for Scientific Games Matthias Muller said.

Australian fund purchases stake in Scientific Games 

An Australian fund is poised to purchase a 34.9 per cent stake in Scientific Games.

Casino News Daily reported in September that the major provider of gambling products and services confirmed on Monday that Australian fund Caledonia will purchase the stake from MacAndrews and Forbes Incorporated.

MacAndrews and Forbes is managed by billionaire investor Ron Perelman, who said earlier this year he wanted a “less complicated and less leveraged business life” and has been looking for ways to reduce his portfolio as several of his companies have been impacted by the coronavirus pandemic.

Caledonia has reached an agreement with MacAndrews and Forbes to buy nearly 35 per cent of Scientific Games, at a price of $28 per share.

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