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Gamesys Group PLC Announces Expanded Q1 Trading Update

Thursday, 20 May 2021 02:00 AM

Gamesys Group PLC

LONDON, UK / ACCESSWIRE / May 20, 2021 / Gamesys Group plc (LSE:GYS) (the 'Group', 'Gamesys'), announces an expanded trading update for the three months ended 31 March 2021. This expanded trading update is being released to ensure consistent dissemination of Gamesys financial information which was published on 19 May 2021 in Bally's Corporation ('Bally's') Shareholder Circular, required for Bally's shareholder vote to approve the issuance of Bally's consideration shares in connection with its acquisition of the entire issued and to be issued ordinary share capital of Gamesys, as announced on 13 April 2021. This release should be read in conjunction with the Group's Q1 Trading Update released on 13 April 2021.

The financial information presented in this release has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and on a basis consistent with the accounting policies and methods used and disclosed in Gamesys' consolidated financial statements for the year ended 31 December 2020.

About Gamesys Group plc

Gamesys Group plc is the parent company of an online gaming group that provides entertainment to a global consumer base. Through its subsidiaries, Gamesys Group plc currently offers bingo and casino games to its customers using brands which include Jackpotjoy (www.jackpotjoy.com), Virgin Games (www.virgingames.com), Botemania (www.botemania.es), Vera&John (www.verajohn.com), Heart Bingo (www.heartbingo.co.uk), Monopoly Casino (www.monopolycasino.com), Rainbow Riches Casino (www.rainbowrichescasino.com) and MEGAWAYS Casino (www.megawayscasino.com).

Enquiries

 

Gamesys Group plc

Jason Holden

Director of Investor Relations

[email protected]

+44 (0) 207 478 8150

   

Finsbury

[email protected]

+44 (0) 207 251 3801

James Leviton, Robert Allen

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 
 
Three months ended
31 March 2021
 
    (??m)  
Revenue
    197.8  
         
Costs and expenses
       
Distribution costs
    107.7  
Administrative costs
    58.0  
Severance costs
    0.8  
Transaction related costs
    1.9  
Foreign exchange gain
    (4.2)  
Total costs and expenses
    164.2  
         
         
Interest income
    (0.1)  
Interest expense
    5.1  
Accretion on financial liabilities
    0.3  
Total financing expenses
    5.3  
         
Net income for the period before taxes
    28.3  
         
Tax expense
    4.5  
         
Net income for the period attributable to owners of the parent
    23.8  
         
         

UNAUDITED CONSOLIDATED BALANCE SHEET

 
 
As at
31 March 2021
 
ASSETS
  (??m)  
 
     
Non-current assets
     
Tangible assets
    9.2  
Intangible assets
    388.8  
Goodwill
    523.8  
Right-of-use assets
    21.2  
Deferred tax asset
    13.0  
Other long-term receivables
    5.0  
Total non-current assets
    961.0  
 
       
Current assets
       
Cash
    250.9  
Player deposits
    29.0  
Trade and other receivables
    38.6  
Taxes receivable
    0.5  
Total current assets
    319.0  
 
       
Total assets
    1,280.0  
 
       
LIABILITIES AND EQUITY
       
 
       
Current liabilities
       
Accounts payable and accrued liabilities
    98.7  
Other short-term payables
    0.9  
Current portion of currency and interest rate swap payable
    6.8  
Current portion of lease liabilities
    5.9  
Interest payable
    1.9  
Payable to players
    29.0  
Taxes payable
    24.0  
Total current liabilities
    167.2  
 
       
Non-current liabilities
       
Other long-term payables
    13.7  
Provisions
    6.1  
Lease liabilities
    16.3  
Deferred tax liability
    42.6  
Long-term debt
    492.0  
Total non-current liabilities
    570.7  
 
       
Total liabilities
    737.9  
 
       
Equity
       
Retained earnings
    270.4  
Share capital
    11.0  
Share premium
    9.9  
Other reserves
    250.8  
Total equity
    542.1  
 
       
Total liabilities and equity
    1,280.0  

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Gamesys Group PLC

Topic:
Company Update
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