Gamesys Gets Back To Gain More

Gamesys Group, online gambling company, got off to a poor start this year, seeing its earnings slip in the first quarter despite rising sales. Since then, however, things have turned around, including having to cope with the COVID-19 pandemic much like anyone else. The company has seen sales growth in the third quarter of 2020 due to better results in all of its operating divisions, and plans to end the year on an even higher note.

The organization has seen its overall community sales rise by 31%, hitting $247.24 million, according to a Gamesys trading report recently released. This was partly due to organic growth in its activities, backed by stronger gains almost anywhere it is involved, including the United States, UK, Asia and Spain. Although the company did not go into depth about each section, the latter country offered a lot of help when the company launched its Monopoly Casino brand to the Spanish market, enabling gamesys to announce that it was "one of the group's most promising new brand initiatives."

In its release, the company states:

“There have been notable operational highlights during Q3, including good momentum demonstrated by ‘Monopoly Casino’ in Spain, which has proved to be one of the most successful new brand initiatives in the history of the Group. In the UK, another new brand ‘Rainbow Riches Casino’ continues to deliver impressive growth since its launch at the end of 2019 and recently won ‘Best New Slots Site’ at the WhichBingo Awards 2020…The Group has made a good start to Q4 and, although it is still early in the period, trends are so far broadly in line with those experienced in the first nine months of FY 2020.”

The rise in Asian industry also helped led by the arrival of Intercasino JP to the Japanese market. It was the company's second brand rolled out in the region, and is marketed as a "straight-shooting" approach with a "dedication to excellence." Considering the country's love/hate relationship with gambling, Gamesys has been able to draw a demand that tends to display greater interest for iGaming choices.

In the United Kingdom, which is proving to be much more difficult than other markets as the government tries to clamp down on gambling, the business is running well, proposing "proactive" alternatives to gambling issues and offering "increased awareness of player time and spending on all platforms". Which will pay off in the long run, with the United Kingdom promising to be persistent about how the gambling brand is controlled.

Gamesys CEO Lee Fenton says:

“We have performed extremely well during Q3, with strong organic revenue growth, an increasing active customer base, and solid progress made across both our core and growth markets globally. Looking ahead, our portfolio of established and trusted brands, complete ownership of our technology platforms and a strong balance sheet, underpin our ability to thrive in the long term.”