NeoGames SA, a technology-driven provider for innovative iGaming, iLottery and iGaming solutions, has released its unaudited results from the fourth quarter and 2022. They highlight strong revenue growth. According to the new trading update, the company’s total revenues and its share of NPI revenues for 2022 reached $210.2 million. This result was a 149% increase over the $84.5million reported for the year ending December 31, 2021.
NeoGames explained that the increase in the figure was due to “the business combination avec Aspire Global”. However, NeoGames also stated that total NPI revenues for 2022 exceeded even the high end projections of $197 million to $208 million for last year.
NeoGames reported a rise in revenue for 2022. The company reported $165.7 million in revenue for 2022 according to the new report. This is a substantial increase over the $50.5 million reported in the same period 2021.
The new report shows that NeoGames’ 2022 net loss was $19million or negative $0.64 per shares. This is in contrast to its previous year net income of $4.7million or $0.18 per per share. The company’s trading update stated that the change in Net Loss in 2022 was due to $0.53 per share of amortization of intangible assets relating to the Aspire Global acquisition.
According to the new report, the company’s fourth quarter revenues and share of NPI revenue was $83.2 million. This was a significant increase compared to 2021’s comparable period, which saw a $21.3 million increase.
The Company is happy with its performance
NeoGames’ chief executive officers (CEO) Moti Malul said that they are delighted with the results for 2022. He noted that NeoGames’ position as a leader in iLottery has been improved over the past year. This is a market that continues its growth. Malul said that Aspire Global was a significant acquisition for the company, which propelled it to a leading position in the iGaming vertical .
” Our business was significantly enhanced by the acquisition of Aspire Global. This move allowed us to expand beyond our current position as a leader for global iLottery solutions and propelled us to become a global leader providing technology and content solutions across iLottery and online sport betting.
NeoGames CEO Moti Malul
The CEO also stated that the latest figures reaffirm NeoGames’ ability to provide solutions for customers in the iGaming, iLottery verticals. Malul also acknowledged the significant growth that was seen in 2022, and said that NeoGames will continue to grow.
