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Financial Targets of Group

Adopted by the board of directors in August 2018, the financial targets below are meant to guide our investors on how Group intends to operate its business over the short and medium term.

Last updated: January 22nd 2021


market growth
  • In respect of the European business, to grow faster than the European iGaming market over a business cycle
  • In respect of the United States, to take market share and be a significant actor in the market over the medium-term


  • Average Adjusted EBITDA margin to exceed 40%
  • Adjusted EBITDA margin may deviate from the target short-term due to heavy investments into the US expansion

Capital structure

  • Longer term net debt to run-rate EBITDA ratio of under 2.5 times

Dividend policy

  • The Group does not intend to pay a dividend before 2020