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B90 Holdings PLC - Online marketing and operating company for the gaming industry - Posts revenue of €2.1 million for 2022, up from €826,855 in 2021. Pretax loss, however, widens to €4.3 million from €3.4 million, as administrative expenses increase to €6.4 million from €4.1 million a year earlier. Looking ahead, expects business to trade in line with expectations. Additionally, says it has raised a further €2 million through subscriptions for loan notes with funds due to be transferred to the company before July 12 at which point the relevant notes will be issued. Says the net proceeds raised will be used for ‘general working capital purposes and to help the company accelerate its acquisition strategy’. The firm also notes that Interim Executive Chair Ronny Breivik has become executive chair with immediate effect. Interim Executive Chair Ronny Breivik says: ‘As an entrepreneurial gaming business, we believe that the business has strong growth potential through a strategic and deliberate ’buy and build’ M&A strategy. This is backed by strong execution, and organic growth stemming from focused inhouse marketing activities. We can be characterized as a challenger brand in the gaming industry, and one of the few pure plays listed on the AIM market and we are determined to make more use of the opportunities afforded by our listing.’ Current stock price: 7.50 pence, down 7.4% on Friday afternoon in London 12-month change: up 67% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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