Group revenue rises 107% for Q4 and 81% for 2022

March 23, 2023
Leer en Español

The affiliate reported full-year revenue of $76.5m, with $21.3m coming in the fourth quarter. Group has released its financial results for the fourth quarter and full year of 2022. The company has seen large rises in revenue for both Q4 and yearly figures, with a total 2022 revenue of $21.3m, up 81% from last year. The fourth quarter showed a 107% revenue increase.

Charles Gillespie, CEO and Co-Founder of Group, said, “We ended 2022 extending our strong record of organic growth with quarterly revenue and adjusted EBITDA reflecting solid growth in our established markets and the continued strong ramp up of our North American operations.

"Fourth quarter 2022 revenue more than doubled year over year, while our high-margin operating model helped drive a 202% increase in Adjusted EBITDA.

“The fourth quarter results reflect a nearly 200% year-over-year and 21% quarterly sequential increase in new depositing customers to 82,000. Our investments in expanding our team, technology, and our portfolio of performance marketing websites continue to drive highly efficient and effective customer acquisition for online gambling operators.”

The company’s adjusted EBITDA reached $6.9m for the fourth quarter, with a yearly result of $21.4m. Net income for Q4 experienced a 687% decrease, with year-end results also showing a decrease of 86%.

Gillespie added, “ Group’s 364% year-over-year increase in fourth-quarter North American revenue to $10m reflects the continued benefit from strong performance in our newest markets, including solid results from our November launch in Maryland.

"Further, we have seen great performance out of the gate from our Ohio launch in January and our launch in Massachusetts earlier this month.”

Elias Mark, CFO of Group said, “Looking ahead, we remain committed to delivering profitable growth and consistent positive operating cash flow.” Group does not anticipate going live in any further North American markets in 2023.


Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
Virtual Showroom



Industry Awards



GA Newsletter

Exclusive news, analysis, insights, and interviews delivered straight to your inbox

Kevin Dennis - The Innovation Group & Troy Ross - TRM Public Affairs

Troy Ross, President TRM Public Affairs
Kevin Dennis, SVP Canada, The Innovation Group

Dennis and Ross join the GA Huddle to discuss one year of regulated sports betting in Ontario, reflecting on the market so far, its recently released sports betting figures and projections for the future.

Christopher Justice, CEO, Pavilion Payments

Justice talks Gaming America through the rebranding of Global Payments Gaming Solutions to Pavilion Payments, including: his role, the company's aims and ambitions - but why it is not losing its legacy while ushering in the new...

 Does it get bigger than the Big Apple? With the race for an NYC casino license heating up, the city is certainly getting plenty of attention for gaming right now. Accordingly, our magnificent team has produced an i...

Where is the payments industry headed?
Gaming America speaks to Christopher Justice (Pavilion Payments), John Skorick (MIDs), Anne Hay (PayNearMe), Victor Newsom (Everi) and Mandi Hart (Sightline).
Becoming a better bettor: WagerWire launches new BetValue Calculator
Travis Geiger of WagerWire speaks about the brand's attempts to launch a new concept, a social media community and a Bet Value Calculator through the ethos of ‘being a good hang.'
What is the best way for betting operators to advertise its services?
A look into infographics provided by Epom, to analyze which betting channels and methods are most appealing to betting companies.
Triggers, boundaries and a balanced reality
Accredited Financial Counselor Ambus Hunter Shares His Story of Recovering From Problem Gambling Addiction and Working Towards Financial Recovery