Global Gaming back to profitability for Q2

Global Gaming has reported that it is “back to profitability” in the second quarter of the year after generating operating profit of SEK 1.1m ($126,444), up from a loss of 11.1m in 2019.

Despite this, revenue still saw a 46% drop year-on-year, to SEK 71.8m, while profit after tax was SEK 1m, up from a loss of 11.8m last year.

Revenue for the first six months of the year amounted to SEK 129.7m, a decrease of 56% from the same period in 2019.

For H1, operating profit was SEK 800,000, up from a loss of SEK 54.5m, while profit after tax was SEK 700,000, a significant increase from last year’s loss of SEK 53.3m.

During Q2, Global Gaming gained a new main shareholder as Enlabs AB announced a 29.9% acquisition in the company, and Peter Fagrell took over as CEO of the operator’s Maltese subsidiaries.

Commenting on the results, Global Gaming CEO Tobias Fagerlund, said: “I am proud and happy about the very good work we have done during the past year and look forward with excitement and confidence to the future.

“Not least, I look forward to an in-depth dialogue with our new major owner, the Enlabs Group.”

Source