Online gambling platform provider GameAccount Network saw revenue more than double in 2013, thanks in part to the launch of its free-play and real-money online gambling products in the US market. Revenue rose 123% to £12.3m in what the company calls a “transformational” 12 months ending Dec. 31. Earnings shot up £3.8m to £4.1m while profits came to £1.6m vs. a loss of £1m in 2012.
Thanks to deals with operators in Italy’s regulated online market, GameAccount’s high-margin Platform & Game Development division earned £8.7m in 2013, up significantly from £1.3m in 2012 and pushing Platform & Game’s share of overall revenue to 70% from 23% in 2012. B2B Gaming Distribution and ‘Other’ revenue held steady at £2.3m and £300k respectively while B2C Gaming Distribution revenue fell to £1m from £1.6m.
GameAccount expects the good times will continue when it gets around to releasing its Q1 2014 numbers, which will include its first full quarter of revenue from its New Jersey online gambling operations. In November, GameAccount made its real-money online gambling debut in the New Jersey market via its deal with Betfaircasino.com, the pairing of UK betting exchange Betfair and Atlantic City casino Trump Plaza. In revenue terms, the Betfair/Trump pairing currently ranks last among the sites operating in the state but GameAccount expects this will change as Betfair increases its marketing going forward.
Last April, GameAccount inked a free-play online casino deal with the Foxwoods Casino in Connecticut and the FoxPlay site made its online debut in January. GameAccount inked a similar deal with Oklahoma’s Osage Casino last month, marking the first fruit of GameAccount’s content deal with Japanese developer Konami Gaming. This week saw GameAccount ink yet another free-play deal with the Empire City Casino in Yonkers, New York. Assuming regulators don’t throw up any roadblocks, Empire City’s online system will launch in H2 2014.
