Gamesys Group (formerly JPJ Group) has seen strong revenue growth, reporting a 23% rise for the third quarter.

Though year-on-year revenue was up 23% at £92.4m for Q3 2019, adjusted EBITDA was down 4% at £25.5m, which resulted in adjusted net income falling 20% to £17.7m.

The disappointing figures were blamed on higher UK gaming taxes, increased marketing spend and the challenging regulatory environment in Sweden.

In September JPJ Group acquired Gamesys Holdings Ltd for £250m cash, and was renamed Gamesys Group (read more).  Gamesys brands including Virgin Games, Virgin Casino, Heart Bingo and Monopoly Casino saw revenue rise by 22% during the quarter.

Thought the operator said most of the revenue growth was thanks to Jackpotjoy, which generated 56% of total group revenue during the quarter.

Reflecting on the results, Gamesys CEO, Lee Fenton, said:

“The successful combination of two leading and complementary businesses with a unique technology offering, a strong pool of talent and an enhanced portfolio of brands, ensures the group is in a strong position to take advantage of future growth possibilities and we are already reaping the benefits in terms of operating performance.”

You can find the full report here.