The Jackpot Joy division (JPJ), the bingo and casino operator, has just announced that they have enjoyed a 13.8% year-on-year increase in revenue in the first half of 2019.
However, it was the strong growth of Vera&John that offset the decline in revenue. In total, the revenue of JPJ, up until June 30, was £169.5 Million. This is up from June 2018, where the total revenue was £149 Million. Clearly, this is great news for the popular operator. However, the JPJ division couldn’t boast the same successes.
Indeed, for the first half of 2019, its revenue was £97.7, which showed a 5.7% decline in last year’s revenue of £103.6 Million up till June 2018. Having said that, this still accounts for 57.6% of the overall group revenue.
Fortunately, Vera&John has managed to offset the decline of JPJ. The first half of the yearrevenue rose from £45.5 Million for H1 in 2018 to £71.8 Million in H1 2019. This represents a 58.1% year-on-year increase. As a result, the brand now accounts for 42.4% of the group revenue.
JPJ confirmed that the growth was helped by more success in other markets, including Brazil, Japan, and Germany. And it’s because of this that the operator opted to close the UK market as of Tuesday of this week. Doing so means that they’ll have more resources to focus on emerging markets. Instead of Britain, where the market is saturated, and operational costs are rising because of a recent tax increase.
After revealing that Vera&John is the most successful brand for JPJ. The operator also said that they’re looking to straighten their B2B operations in Asia. Plus, JPJ has predicted a growth in LATAM too.
So what can we expect next? Well essentially straightening its B2B operation could see the group focusing on their latest acquisition Gamesys. After all, the group paid £490 million last June for the content aggregator and platform.
Certainly, they’ll want to capitalise on this investment. And we all know that there several factors that impact the viability of a content aggregator. And the game choice is one of them. So are we on the verge of seeing a lot more games on Vera&John casino? Games that would appeal to the Asian and LATAM segment? Logically speaking, yes, but the company has not made an official announcement yet. So, at this point its only