Global Gaming revenue continues decline but “in line with expectations”

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Global Gaming revenue continues decline but “in line with expectations”

By Owain Flanders

Global Gaming saw revenue of SEK 57.8m ($5.8m) for the first quarter of 2020, a drop of 64% year-on-year.

Of this total revenue, SEK 50.7m came from the operator’s own gaming operations, down 66%, while SEK 7.1m came from its own brands on other platforms,  a decrease of 34%.

The quarter saw an operating loss of SEK 400,000, down 99% from the same period of 2019.

The operator saw SEK 33.2m of operating expenses during the quarter, a drop of 73%, and marketing spending was cut by 89% to SEK 9.1m.

Personnel expenses also fell 34% as Global Gaming reduced its number of employees from 137 to 86.

The operator continues to struggle following the revocation of its Swedish license by the Swedish Gambling Authority last year.

Tobias Fagerlund, CEO of Global Gaming, said: «Global Gaming shows strength and delivers a first quarter in line with our expectations.

«Even though we have got help from a strong euro, we are already now close to reaching our first goal for the year; to break even during the first six months.

«Global Gaming continues to show that it is serious in rising and getting back from last year’s negative development.»

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