Playgon Games (TSX-V:DEAL, OTCQB:PLGNF) Inc has reported a 54% revenue jump quarter-over-quarter as the live dealer technology provider boosted its client base and player numbers throughout the second quarter.
For the three months ended June 30, 2022, the company reported revenue of $216,881, compared to $2,218 in the year-ago quarter, and up by $76,004 or 54% on 1Q, 2022.
During 2Q, the company onboarded an additional 14 operators, bringing its total client base to 49, representing a 40% increase from the first quarter of this year.
Average monthly players for 2Q were 20,100, a 15% increase in player numbers from the previous quarter.
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Playgon CFO Harry Nijjar said the company had experienced a strong 2Q as it saw continued growth in revenue and player activity.
"Our existing customer base continues to show growth in these two key metrics and we expect the same from the new operators added during 2Q,” he said in a statement.
“We strongly believe that with the new corporate milestones achieved already this third quarter, industry continues to validate Playgon's live dealer offering."
For the quarter, the company reported a net loss of $4,402,353, compared to a net loss of $3,590,061 for the same period in 2021.
The company said it continued to invest in its live dealer platform by increasing its development team and Las Vegas studio casino staff costs to $2,128,644 in 2Q, up from $1,584,824 in the year-ago quarter.
Playgon finished the quarter with $539,485 in cash.
Based in Vancouver, Canada, Playgon Games is a proprietary Software-as-a-Service (SaaS) company delivering mobile-first live dealer technology to online gaming operators globally.
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