IZI Finance PLC Announces Half Yearly Results
IZI Finance Plc Announces Half Yearly Results
Group registered 61% year-on-year EBITDAR growth.
Malta, 29th February 2024 – IZI Finance plc, the financing and holding company of IZI Group announced yesterday its half-yearly results for the period July – December 2023. The Group announced a 26% year-on-year revenue growth. The Group has seen an increase in revenue across all its business operations, most notably the National Lottery. The results which are in line with the Group’s expectations generated EBITDAR of €12.6 million for the 6-month period, an increase of 61% when compared to the same period last year.
The achievements obtained in the first half of FY2024, reflect a significant increase in revenue, brought about by the effectiveness of the strategic initiatives adopted, the robustness of the business model and the team’s unwavering commitment and dedication. This improved performance underlines the Group’s commitment to deliver value to its shareholders through its focus to grow revenues across all its business units. The Group is now entering into a new phase within which it will amplify its efforts to attain operational efficiency and cost management, with the aim to improve further the margins across its business units.
Commenting on the results obtained, the newly appointed Chief Financial Officer of the Group, Mr. Chris Fenech, said that the financial results are very encouraging and augur well for the remainder of the fiscal year. “The positive trajectory of our fiscal performance has garnered increased confidence in the Group’s prospects. Our efforts across the diverse business units have been well received by our customer base enabling us to strengthen our foundation and market position. We look forward to the implementation of various other initiatives in the coming months. Our focus continues to be on cost optimisation and efficiency, innovation through the deployment of new technology, customer satisfaction and driving long-term value for all stakeholders.
National Lottery is a fully owned subsidiary of IZIGROUP, the largest land-based gaming operator in Malta. National Lottery is the exclusive concessionaire of the National Lottery of Malta. IZIGROUP also operates the Dragonara Casino, Malta’s No 1 land-based casino established in 1964. IZIGROUP offers a full range of online casino and sports betting products via dragonara.com and izibet.com and offers lottery products online via lottery.mt. IZIGROUP is an equal opportunities company and one of the largest privately-owned groups providing full time employment to over 500 employees.
IZIGROUP is committed to providing unique gaming experiences in responsible and safe environments. We emphasize responsible gaming and encourage patrons to visit the Responsible Gaming Foundation website for support and information.
IZI Interactive Limited (MGA/B2C/345/2016), Dragonara Gaming Limited (MGA/B2C/181/2010), and National Lottery (MGA/B2C/003/2022) are all gaming operations under IZIGROUP and are licensed by the Malta Gaming Authority under the Gaming Act Chapter 583 of the laws of Malta.
