Online gambling operator Jackpotjoy PLC managed to narrow its net losses in the first quarter of 2018, largely on the strength of its Vera&John online casino brand.

Figures released this week by the UK-listed Jackpotjoy show overall gaming revenue rising 13% to £80.7m, while adjusted earnings fell 7% to £27.1m. Adjusted net income improved 3% to £21.4m but the company booked an unadjusted net loss of £7.7m for the quarter.

Jackpotjoy blamed the adjusted earnings decrease on increased marketing expenses and the UK’s application of new taxes on online gambling bonus offers that took effect in Q4 2017. The adjusted net income gain was credited to the company having renegotiated its mammoth debt load during Q4 2017.

The Vera&John Nordic-facing online casino brand accounted for 26% of Q1’s group revenue but reported revenue growth of 35% in the quarter (31% in constant currency). The mainstay Jackpotjoy division, which includes the Mandalay and Botemania online bingo operations and the Starspins casino brand, reported revenue growth of 7%.