Intouch Games reports 35% annual rise in turnover to £84.2m

Intouch Games has revealed a 35% uptick in turnover to £84.2m for the year ended 31 July 2020.

Publishing its latest annual results on Companies House, the mFortune operator also recorded a 28% year-on-year increase in gross profit to £58.9m, up from £46m in the year prior.

Despite the financial growth, the gross profit margin dropped from 73.9% in 2019 to 70% in 2020.

Intouch Games said the rise in turnover was driven by a sixth brand launch in December 2019, as well as constant investment in the design and development of new games and websites.

The firm powers 12 online casino brands in the UK, including mFortune, PocketWin and Mr Spin.

Much of the financial report was focused on the fallout of the £3.4m fine issued to the operator by the UK Gambling Commission (UKGC) in March 2021.

The regulator took action after it discovered multiple failings across Intouch Games’ social responsibility, anti-money laundering (AML) and marketing departments.

Providing an update, Intouch Games said it had increased investment in compliance and implemented remedial actions.

Those actions included the creation of an externally chaired governance committee, the appointment of a new head of AML and clarifying key marketing terms.

“The company has increased resources and spending in compliance, responsible gaming and AML and is actively working with the Gambling Commission and other third parties to ensure a robust structure is in place to deliver regulator expectations,” said Intouch Games in the annual report.

The operator paid gaming tax totalling £19.4m during the 12-month reporting period.