Profit and Loss Annual Report

Group Profit and Loss Account (reported in USD million)
Year ended 31 December 20181 Year ended 31 December 20171
US$ million US$ million
Revenue - B2C
Casino 317.6 293.9
Poker 49.0 77.9
Sport 80.3 75.5
Bingo 32.4 39.3
Total B2C 479.3 486.6
B2B 50.6 55.2
Revenue before VAT accrual release 529.9 541.8
VAT accrual release2 10.7 -
Revenue 540.6 541.8
Adjustment of VAT accrual release (10.7) -
Operating expenses3 (137.8) (138.8)
Gaming duties (69.9) (75.2)
Research and development expenses (32.8) (35.4)
Selling and marketing expenses (155.0) (162.5)
Administrative expenses4 (27.3) (29.2)
Adjusted EBITDA 107.1 100.7

Depreciation and amortisation

(20.3) (19.3)
Finance (0.1) (3.1)
Adjusted profit before tax 86.7 78.3
Share benefit charges (8.9) (8.5)
VAT accrual release 10.7 -
Exceptional charges5 11.1 (50.8)
Gain from re-measurement of previously held equity interest in joint ventures 9.3 -
Share of equity accounted associates' loss (0.2) (0.2)
Profit before tax 108.7 18.8
Adjusted basic earnings per share 20.2¢ 20.1¢
Basic earnings per share 26.3¢ 3.5¢