SBC News Home Comforts... Jackpotjoy completes a successful Year 1 as a London enterprise

Home Comforts… Jackpotjoy completes a successful Year 1 as a London enterprise

SBC News Home Comforts... Jackpotjoy completes a successful Year 1 as a London enterprise
Neil Goulden

Completing its first full year as a London Stock Exchange enterprise, online gambling group Jackpotjoy Plc, reports solid financial growth having restructured its operations and executive leadership.

Supported by the growth of its core brand assets (Jackpotjoy, Mandalay and Vera&John) Jackpotjoy reports a 2017 group revenue increase of 14% to £304 million (FY2016: £266 million).

Updating investors, Jackpotjoy reveals that it was able to increase customer activity to +250,000 players per month, whilst improving average customer values to £94 per active player.

Product and customer KPI improvements would see JackpotJoty record a group adjusted EBITDA of £108 million (FY2016: £102 million).

Closing its full-year 2017 accounts, Jackpotjoy governance would declare operating losses of £68 million, with the company absorbing a number of administrative expenses relating to its London ‘home’ migration.

During 2017, Jackpotjoy restructured its executive leadership team, appointing former Gala Coral MD Simon Wykes to the position of Group Managing Director.

Wykes is supported in his leadership role by Neil Goulden, who was promoted to Group Executive Chairman, following Jackpotjoy’s successful listing on the London exchange.

Neil Goulden commented on Jackpotjoy 2017 performance “The record financial results we achieved in 2017 reflect the dedication, ambition and work ethic present in employees across the business.

“As an organisation, we are committed to delivering the best customer experience across all our gaming verticals; we also strive to represent the highest standards of consumer best practice in our industry.

“This is underpinned by wholehearted support for the ethos of responsible gambling and proactive monitoring of player behaviour.

“We are confident of our prospects for growth against a healthy market backdrop in global online gaming and determined to ensure we present an entertaining, fun and responsible environment for our customers to enjoy.”

Check Also

SBC News Rank seeks £80m final settlement with HMRC on machine duties

Rank seeks £80m final settlement with HMRC on machine duties

Rank Group Plc has been granted a 60-day extension by the First-tier Tribunal Tax Chamber …

SBC News Rank reorganises digital leadership to lead unit turnaround

Rank reorganises digital leadership to lead unit turnaround

Rank Group Plc has confirmed the promotion of Eitan Boyd to the leadership position of …

SBC News 888 confident that product growth will outride inbound headwinds 

888 confident that product growth will outride inbound headwinds 

888 Holdings has cited confidence in achieving its 2021 growth objectives, as the company enters …