‘Now on to 2022!’: iGaming Group COO marks strong 2021 as revenues more than double

iGaming Group’s chief operations officer Phil Pearson has reflected on a good year for the company, as its revenues reportedly more than doubled, increasing by 136 per cent year on year.

Mr Pearson detailed the achievement in a post on his LinkedIn account, stating that staff increased from 65 to 203 total employees during the year and that Gross Gambling Revenue (GGR) was just short of €200 million.

Amongst these staff were Debbie Cooper and Charlotte Seymour, who assumed the roles of head of account management and head of marketing respectively. Together, they have years of experience building brands by establishing new relationships and strengthening existing relationships with clients.

Regarding Net Gambling Revenue (NGR), Mr Pearson didn’t specify a number, reflecting that as the company is not publicly owned, it doesn’t need to declare the figure.

However, he said the figure was “good,” and likewise, the figure for earnings before interest, tax, depreciation and amortisation (EBITDA) is confidential, but “at least enough for a nice celebratory meal.”

In terms of the company’s product offering, it completed or redesigned 22 sites in 2022.

Providing summative comments on the year, Mr Pearson said: “Overall a good year! Growth is great, but not for the sake of growth.

“We are solidifying our position in the markets we are in, while growing the teams and adding automation and systems in place to support and reduce the workload on them.”

Indeed, this is in line with iGaming Group’s somewhat unorthodox decision half way through 2021 to not take on any new clients of business partners till 2022.

The company did this because it was seeing “unprecedented growth” and wanted to ensure it was able to maintain the stability that its existing clients came to expect, as well as “exceed the quality of service it had come to be known for over the years.”

“While we certainly took pride in the continued success of iGaming Platform and our white label solutions, we never allowed ourselves to become complacent and instead stayed busy parlaying our successes into the expansion of new business units for our clients, namely CoinSaga,” the company said at the end of year.

Officially launched in December, the crypto-led casino has “already achieved impressive results”, and it fully expects that trend to continue in 2022 as it “doubles down on its efforts to innovate and improve our offering in this emerging market,” it added.

Additionally, Mr Pearson discussed the company’s excellent gender balance, which includes over 50 per cent female staff in Malta, making the company “women in gaming friendly without needing to shout about it.”

On a lighthearted note, he said the company raised €5,000 for charity, hired someone with a triple-barrelled surname, which is “possibly the most impressive thing.”