- Playgon Games (DEAL) announced its financial results for the quarter ended March 31, 2022
- Revenue was $140,877 (March 31, 2021 – $nil) generated from the company’s Live Dealer platform
- Loss was $3,899,555 compared to $3,487,021 in March 31, 2021
- Playgon Games is a SaaS technology company which focuses on developing and licensing digital content for the growing iGaming market
- Playgon Games Inc. (DEAL) remains unchanged, trading at C$0.09 per share as of 12:50 pm ET
Playgon Games (DEAL) announced its financial results for the quarter ended March 31, 2022.
Q1 2022 financial highlights:
- Revenue was $140,877 (March 31, 2021 – $nil) generated from the company’s Live Dealer platform
- Player betting increased throughout the quarter, indicating strong future revenue growth
- Loss was $3,899,555 compared to $3,487,021 in March 31, 2021
- Continued investment in the Live Dealer platform by increasing development team and Vegas studio casino staff costs to $1,699,881 (March 31, 2021 – $1,234,416)
- Cash on hand was $2,486,326 at March 31, 2022
Q1 2022 operational highlights
- On Jan 12, 2022, the company signed a multijurisdictional software licensing and distribution agreement with its 4th European aggregator Relax Gaming. Under the terms of the agreement, Relax Gaming will add and market Playgon’s proprietary mobile first live dealer and E-table game offerings.
- On February 24, 2022, the company appointed Bobby Soper to the Company’s Board of Directors.
- The company onboarded an additional 9 operators during the quarter bringing the total operator count to 35.
Darcy Krogh, CEO of Playgon Games commented on the results.
“Q1 was another important quarter for Playgon. We continued to see increased player activity throughout the quarter, and we exited with a healthy pipeline of new opportunities which we expect to announce in due course. This will include entry into new markets for the company’s innovative mobile live dealer product that we are excited to enter.”
Playgon Games is a SaaS technology company which focuses on developing and licensing digital content for the growing iGaming market. The company provides a multi-tenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions.
Its current software platform includes Live Dealer Casino, E-Table games and Daily Fantasy Sports, which, through a seamless integration at the operator level, allows customer access without having to share or compromise any sensitive customer data.
Playgon Games Inc. (DEAL) remains unchanged, trading at C$0.09 per share as of 12:50 pm ET.