Gaming software and content provider GameAccount Network has posted results for year ended December 31, 2013, showing a significant climb in revenue and a return to profit (before tax).
Net Revenue increased by 123 per cent to £12.3m, up from £5.5m in 2012. Profit before tax for the year increased to £1.6m, an improvement on the loss of £1m reported in 2012.
Highlights included the launch of a real-money gaming platform in New Jersey via Betfaircasino.com under the Trump Resorts International brand and a partnership with Foxwoods Casino in Connecticut ahead of the January 2104 launch of Simulated Gaming in the state.
Dermot Smurfit, CEO, said of the 2013 figures: “Net revenue has more than doubled and EBITDA increased from £0.3m to £4.1m. We have made real progress in delivering on our strategic initiative to develop sustainable higher margin revenue streams while positioning the group for growth in regulating markets.
“We also successfully raised £15m through an institutional placing in November 2013 and listed on the AIM and ESM markets of the London and Irish Stock Exchanges.
“We have a strong balance sheet with almost £17m in liquidity to accelerate our growth in 2014 and beyond,” he said.
