OGQ: Golden Matrix leads revenue growth in Q2 2022
Online Gambling Quarterly analyses the key financial figures of igaming companies from the second quarter of the year
The Online Gambling Quarterly regularly provides various in-depth analyses of key financial figures of igaming companies. In this article, the analysts share some revenue growth benchmarks of the recent quarter. In Q2 2022 Golden Matrix led revenue YoY-growth (compared to the previous year) with an increase of +230% (YoY); the average YoY-growth in the quarter of all online gambling companies analysed was +21%. Regarding the QoQ-growth (compared to the previous quarter Q1/2022) best practice growth was achieved by NeoGames (+59%).
Total revenue growth analyses (YoY) – for more data click here.
The Online Gambling Quarterly analyses the total revenue figure across all segments and the revenue development for each vertical. For the Q2 2022 development of the total revenue the researchers provide the following insights:
- On average, total revenues (all verticals) grew in Q2 2022 by +21% (YoY).
- Best practice growth (YoY) was achieved by Golden Matrix with +230%. Golden Matrix is a developer and licensor of online gambling platforms. The revenue in Q2 (Golden Matrix reports figures from May to July) was $8.8m. The increase resulted primarily from the strong growth of the B2B segment and the revenue contributions from UK-based RKings.
- Lowest/negative growth – At the bottom of the ranking we find Scout Gaming and bet-at-home.
Total revenue growth analyses (QoQ) – for more data click here.
In many cases the YoY growth rates are exceptionally high due to acquisitions made in a previous quarter – an effect that carries through for consecutive quarters after the acquisition. Therefore, several leading companies in the YoY growth benchmarking have those top positions more or less due to acquisitions made within the 12 months before the analysis. The researchers at Online Gambling Quarterly have therefore decided to also analyse quarter-on-quarter growth (QoQ) benchmarks as well. Those growth rates might be impacted by seasonal effects (eg., football season versus no football season) and other changes, but these figures can provide a quick, current overview of the most recent growth dynamics while excluding the effects of acquisitions in previous quarters.
- Average growth – On average, revenue decreased in Q2 2022 (compared to the previous quarter – Q1/2022 – QoQ) by -0.05%.
- Best practice growth (QoQ) – Best practice growth (QoQ) was achieved by NeoGames (+59%). NeoGames is a provider of online lottery and gambling solutions; the company recently acquired Aspire Global. Revenue in Q2 2022 was $21.4m. Aspire Global achieved a 17% growth in euro-denominated revenue in Q2 2022 (YoY).
Betting revenue growth analyses (YoY) – for more data click here.
The Online Gambling Quarterly also analysed the development of betting revenue (mostly net revenue) in the recent quarter with the following insights:
- Average growth – On average, betting revenue increased in Q2 2022 (compared to a year earlier) by +27% (YoY).
- Best practice – The best practice was achieved by Caesars Digital with +140% (YoY).
- Lowest/negative growth – At the bottom of the ranking we find Kindred.
For more financial analyses (eg., casino revenue growth) have a look at the full report here.