Upon completion of this year's third quarter, JackpotJoy, internet gaming group, has publicly revealed the figures that made this period a great success for the company. The brand is about to undergo some managerial and staff changes, as well, and in light of all these events, their chairman, Neil Goulden, remains confident that the company will “continue to go from strength-to-strength” next year.
Compared to 2016's Q3, revenues have increased by 14% (to $99M), operating cash flow is up 78% (to $43M) and net loss total is $10M (a significant improvement over $24.4M last year).
Goulden has remarked that the strong underlying momentum evident in the first half of the year has seen its continuation in the third quarter, and gaming revenue is up 14%.
He added: "There continues to be solid customer growth across the group, with our Vera&John business segment performing particularly well, with constant currency revenue growth of 21% in the quarter." Announcing some big changes in the company's hierarchy, Goulden stated that he will be responsible for leading the development and the execution of long term strategy. “Simon Wykes has joined us as group managing director to provide additional operational expertise. Andy will step down as a director on December 31 and will remain with the company until January 31, 2018, to ensure a smooth transition of duties to the new members of the executive team.”
Source:
“JackpotJoy Financials Up in Third Quarter”, Jermalowicz Dustin, casinolistings.com, November 14, 2017.