Global Gaming hails Ninja Casino performance as Q3 revenue soars

Global Gaming hails Ninja Casino performance as Q3 revenue soars

Friday, November 23, 2018 Posted by News Team
Finance
No-deposit casino brand accounted for 91% of group revenue in third quarter

Malta-based iGaming operator Global Gaming has credited the performance of its core Ninja Casino brand for helping third quarter revenue almost double year-on-year. 

Total net gaming revenue grew 93% to SEK253.1m, with revenue from no-registration casino site Ninja Casino accounting for SEK229.8m - or 91% of the total. Customer deposits for the brand grew 9% from the second quarter of 2018, with 75% of customers playing via mobile devices. 

The business’ B2C offering, which also includes the Swedish-facing online casino SpelLandet, accounted for the lion’s share of revenue, with the B2B business making an SEK500,000 contribution. However, the B2B arm, predominantly operating white label casinos, is to be shuttered by the end of 2018.

Global Gaming saw operating costs climb 66% year-on-year to SEK89.9m, with marketing costs soaring to SEK68.6m, more than three times the investment in the prior year.

As a result total costs for the quarter grew 193% to SEK103.0m, leaving an operating profit of SEK60.3m. After finance cots and taxes, Global Gaming reported a profit of SEK54.3m, up 47% from Q3 2017.

For the nine months ended September 30th, revenue was up 140% year-on-year at SEK679.5m, with profit rising 55% to SEK109.0m. 

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