Gambling operator and technology provider Playtech enjoyed an “extremely strong” first quarter of 2020 as its once-struggling financial services unit proved a pandemic star.

In a trading update issued Wednesday, the UK-listed Playtech reported adjusted earnings of €117m in the first three months of 2020, with an additional €23m in the month of April. The company said the Q1 result was “in large part driven by the exceptional performance” of its Tradetech financial services unit.

In March, Playtech said Tradetech was enjoying ‘significant’ gains from increased market volatility and trading volumes. As of March 19, Tradetech’s earnings stood around €30m, already ahead of the company’s forecasts for the entire year, and this sum grew to over €45m by the end of April.

Tradetech has undergone a major turnaround since 2019, during which its revenue fell 27% year-on-year, resulting in Playtech booking a €90m impairment loss. The situation was sufficiently dire that Playtech was publicly mulling selling the flailing unit, which would have had investors screaming bloody murder had the company made good on these threats.