NeoGames recently announced that their Q4 and full year 2022 financial report earned a remarkable $69.2m in profits, an astonishing 54% higher than the same period of 2021 ($12.3m). This impressive leap is primarily attributed to mergers as further explained in their statement.
Despite incurring a net loss of $800,000 in 2022, it was significantly less than the whopping $3.6m from the previous year. Meanwhile, its adjusted EBITDA skyrocketed 129% to an impressive income of $18.1m in 2022!
The company achieved record revenue for the year of $165.7m, an impressive 315% increase from 2021’s figures of $50.5m. Despite this income growth, net losses amounted to $19m, and adjusted EBITDA totaled a decent figure of $54.5m compared with only $33.4m the previous year – making it clear that this was a productive financial period for the business overall.
NeoGames experienced an impressive financial performance in 2022 thanks to their NPI agreement with Pollard Banknote, the acquisition of Aspire Global, and six new deals signed with Pariplay. Additionally, they launched iLottery and sports betting offerings through Intralot in Brazil, which further contributed to their success.
Commenting on the results, Moti Malul, CEO of NeoGames, declared: “We made a giant leap forward when we acquired Aspire Global; this enabled us to develop our business past being just an innovator in iLottery solutions and launch ourselves as a leading provider of technology and content services across all aspects from iLottery to online sports betting and iGaming.