NeoGames Announces Fourth Quarter and Full Year 2022 Results

March 9, 2023 | Vendor News
  • Fourth Quarter Revenues and Share of NPI Revenues Interest total $83.2 million, up 291% year-over-year
  • Full Year Revenues and Share of NPI Revenues Interest was $210.2 million.
  • Initiates the Full Year 2023 Revenue and Share of NPI Revenues Guidance representing 4% year-over-year growth at the midpoint on a like-for-like basis

LUXEMBOURG, March 06, 2023 (GLOBE NEWSWIRE) — NeoGames S.A. (Nasdaq: NGMS) (“NeoGames” or the “Company”), a technology-driven provider of end-to-end iLottery and iGaming solutions, announced today financial results for the fourth quarter and year ended December 31, 2022.

Moti Malul, Chief Executive Officer of NeoGames, said: “We are proud of the tremendous progress we made during 2022, further solidifying our iLottery leadership position in a continually expanding market. A record year in iLottery was punctuated with another record quarter. In addition, we made some truly transformational strides in advancing our strategic goals. We significantly evolved our business through our acquisition of Aspire Global, expanding beyond our position as a leader in global iLottery solutions, and propelling us to becoming a global leader in providing technology and content solutions across iLottery, online sports betting and iGaming.

Our results underscore the advantage of our ability to serve customers on an integrated basis, whether they need solutions for iLottery, online sports betting, iGaming, or any combination of services. We ended the year by growing our iLottery revenue by 33% during the fourth quarter, and our iGaming revenue by 27% as measured on a constant currency pro forma basis from the prior year. During 2022, we grew revenue across all business lines and we believe that we remain well-positioned to continue to deliver profitable growth into 2023 and beyond.”

“Each year the global gaming industry tends to expand further into the online channel, and each year the needs of our customers evolve to require a more integrated approach across lottery, gaming and sports betting. In our view, we are well positioned as a leader to provide our customers, both regulated state lotteries and private gaming operators, a leading, full suite of solutions to meet all their digital gaming needs. This was demonstrated once again in Brazil, where we carried the strong momentum we generated in 2022 into 2023 and launched iLottery and online sports betting with the official lottery of Brazil’s second-largest state, Minas Gerais. We believe these achievements on top of those accomplished in 2022 will help position us to achieve our objectives of sustainable accretive growth and value for our shareholders.”

Read the full report here

SOURCE: NeoGames.

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