to report its financial record Q1 revenue

  • 0 min read to report its financial record Q1 revenue Group achieved a first-quarter revenue record of $29.2 million (£23.0 million/€26.9 million), alongside an increase in net profit.

Revenue increased by 9.4% compared to Q1 2023. Elias Mark, CFO of Group, highlighted that this growth occurred despite the specific opportunities available in Q1 2023.

Achieving year-on-year growth in all our geographic reporting markets, we delivered record Q1 revenue with a 9% top line increase, even though the comparable period had significantly more new state launch activity.

In Q1 last year, formed a multi-year strategic partnership with US media group Gannett Co., leveraging Gannett’s extensive US presence.

Commenting on Q1 2024, Charles Gillespie, CEO and co-founder of Group, observed that the company’s previous investments were yielding positive results.

Our long-term investments in proprietary technology, website portfolio, and accretive acquisitions are driving consistent growth. As we expand our industry leadership and influence across global online gambling markets and leverage numerous growth drivers, we foresee a clear path to significantly higher adjusted EBITDA and free cash flow.

Additionally, during Q1, secured a $50.0 million credit facility, comprising a $25.0 million revolving credit facility and a $25.0 million term loan facility.