Playgon Games, the Canadian company which specializes in delivering mobile live dealer technology and content to online casino operators, has announced its results for the third quarter of 2023 and the numbers show a significant increase in revenue.
Moreover, the company also reported that it saw increasing player activity thanks to new onboards and also to organic growth within the existing customer base, showing good premises for further future growth in terms of revenue.
Speaking of revenue, for the three months ended September 30, 2023, the Live Dealer platform operated by Playgon Games generated revenue of 436,926 dollars and 1,138,323 dollars for the first nine months of the year.
The revenue recorded in the third quarter represents a 38 percent increase compared to the same quarter of last year, while for the first nine months of the year the increase amounted to 69 percent compared to the same period of 2022.
Despite the increase in revenue, the Canadian company recorded a net loss of 3.9 million dollars in the third quarter and 12.3 million dollars for the first nine months of 2023. The company explained that its expenditure for Advertising and Promotion decreased, but interest expense and bank charges increased.
Salaries and benefits amounted to 6.3 million dollars in the third quarter, mainly due to increased staffing at the company’s Las Vegas live casino studio. However, Playgon Games managed to reduce its general and administrative expenses during the three months to September 30.
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