The Gamesys Group Board is to declare an inaugural interim dividend of 12p per share to be paid in October, as well as the implementation of a broader dividend and capital allocation policy.
Other financial highlights include:
Excellent reported and pro-forma6 financial performance across the Group
o Reported gaming revenue grew 101% year-on-year, reflecting continued exceptional growth in Asia and strong growth in the UK; on a pro-forma basis, gaming revenue increased 27% year-on-year
o Adjusted EBITDA increased 75% year-on-year; on a pro-forma6 basis, it rose by 17% as Asia and the UK delivered strong results
o Adjusted net income increased 68% year-on-year
Strong operating cash flow of £100.7m; cash conversion rate of 106% from adjusted EBITDA1
o Cash balance of £136.0m at 30 June 2020 and adjusted net debt of £391.7m
o Adjusted net leverage ratio of 2.83x at the end of 2019 has reduced to 2.27x at 30 June 2020 and we anticipate further deleveraging during the second half of 2020
Good trading has continued into the early part of Q3 across our major markets; given the strong performance in the first 7 months of the year, the Board now expects to report FY20 gaming revenue and adjusted EBITDA1 comfortably ahead of its prior expectations
