Turnover rose 16% at Newcastle tech firm Bede Gaming on the back of work it provided for one of the biggest global lotteries.
The Gosforth-based firm, which also has bases in Sofia, Bulgaria, and in Toronto, Canada, develops and markets online gaming platforms for operators of casino, sports betting and lottery offerings. It received significant backing five years ago when German business Gauselmann Group acquired a majority stake for an undisclosed sum.
The acquisition allowed the Gauselmann Group to boost its strong digital presence by giving it a foothold in North America – notably one of the world’s largest lotteries in Ontario, while Bede was given access to the German online maket.
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Now accounts for Bede Gaming have been published for 2023, showing growth in turnover on the back of big contracts, although the Esh Plaza business swung to an operating loss. Sales came in at £28.9m, up from £24.9m, and the previous year’s operating profit of £871,701 was converted to a loss of £2.6m.
During the year employee numbers rose, from a monthly average of 201 to 223, taking up the wages bill from £12.48m to £14.48m. A report within the accounts highlights work the company carried out during the year, as well as continuing investments it made in technology and staff.
The report, signed off by financial director John Dougal, said: “The company has continued to invest in its workforce and technology services with average headcount increasing to 223 and a number of technical refreshes to the platform being completed.
“Given the continued success of OLG in the regulated Ontarian gaming market, Bede is well positioned to win further digital lottery-related business in the coming years as many of those markets continue to expand and move away from monopolistic structures towards openly competitive regulated positions.
“The company continues to maintain a diverse pipeline of further potential customer opportunities and is in the process of prioritising which commercial opportunities it will now jointly pursue with businesses within the wider Gauselmann group.”