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Gamesys Shares Climb As it Sees Positive FY Results

Sam Boughedda trader
Updated 12 Jan 2021

Practice Stock Trading

Jackpot Joy owner, Gamesys Group (LON: GYS) said despite the unprecedented challenges presented by the COVID-19 pandemic, the company is confident that the group will report FY 2020 revenue and adjusted EBITDA at, or above, the upper end of current market expectations.

Shares of the online bingo and casino games operator are trading 4.14% higher at 1,308p following the trading update.

The company said that following the merger between Gamesys and JPJ Group, operations' integration has progressed as expected, despite the challenges this year.

“An outstanding operational performance has been underpinned by our intensified focus on responsible gambling and prioritising the health and wellbeing of our players as well as our employees,” Gamesys said.

Gamesys Group maintained robust and sustainable growth during 2020, with record numbers of active players and significantly enhanced our propositions and technology platforms. Gamesys also delivered its first dividend during the year.

“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 that we do,” stated Lee Fenton, Gamesys’ CEO.

“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 into 2021,” Fenton added.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.