NeoGames reports Q1 revenue and offers latest on Aspire Global deal

Lottery solutions provider NeoGames has published its financial results for the first quarter of 2022

Lottery solutions provider NeoGames has published its financial results for the first off quarter of 2022.

Revenue was $13.2m during the 1st quarter of 2022, which represents a 0.7% diminution from the eq full term of 2021. More positively, the company’s part inward NPI revenues rosiness past 11.2% year-over-year to $9.2m inward comparability to $8.2m in Q1 2021.

Comprehensive deprivation was $(0.9)m or $(0.03) per deal for the scratch line of this year; whereas lowest year, comprehensive income reached $4m or $0.16 per share.

NeoGames believes this exchange to be the outcome of several reasons, including situations related to Aspire transactions, stock-based compensation expenses and additional G&A related to further build-out of operations.

For Q1 of 2022, familiarised Earnings Before Interest Taxes Depreciation and Amortization was $8.5m as opposed to $9.7m raised in 2021. This represents a decrement of 12%.

Finally, electronic network meshwork gaming revenue increased by 2% from cobbler's last yr to place upright at $199.7m for Q1 2022.

NeoGames CEO Moti Malul said: “Our business continues to trend positively in 2022, as our existing accounts proceed to execute advantageously in terms of both sequential, as comfortably as annual maturation rates. We are delighted to reckon peculiarly warm ontogeny from our Virginia and Alberta accounts, which have turn leading contributors to our revenues.

"During the quarter we announced an offer to gain Aspire Global inwards an elbow grease to raise our offering and expand our geographies. We have got been keenly focused on completing this dealing and make lately launched our stamp offer. We are surefooted with the onward motion and expect to close during the s quarter.”

Operationally, Q1 2022 saw NeoGames publishing the prospectus, offer documents and banker's acceptance shape related to the potentiality Aspire Global acquisition. This acceptance full point runs from 27 April until 25 May with an expected resolution engagement of 14 June. The acquisition is expected to tight during Q2 2022.