In its quarterly report for the three months ended March 31 2019, Group Plc has recorded a 52 per cent increase in year-on-year growth.

The groups Q1 report showed that its revenues had jumped from $3.86m in 2018 up to $5.85m, while also recording an organic growth rate of 50 per cent, making up 98 per cent of the total growth.

“The Group delivered yet another record quarter,” said Chief Executive Charles Gillespie. “Revenue grew 52% to EUR 5.24m compared to Q1 2018. Virtually all of the growth was organic. Q1 EBITDA was also a record at EUR 1.75m.”

The firm also updated investors on significant events in the US during the first quarter of the year, including approval from the New Jersey Division of Gaming Enforcement to expand business deals with operators to include revenue sharing components.

Turning its focus to legislative matters, the company referenced the Department of Justice re-interpretation of the Federal Wire Act, saying: “The United States Department of Justice released an opinion which re-interpreted the Department’s own opinion on the Wire Act from 2011. The ramifications of the new opinion are not yet clear but could create headwinds for the roll-out of regulated online gambling in the United States.”