Gambling software developers Gamesys and Playtech, which have island links, have said they may have outperformed market expectations in 2020.

Both are members of the FTSE 250 at the London Stock Exchange and they are sponsoring awards in this year’s Isle of Man Newspapers Awards for Excellence

Playtech said it expects to beat a consensus of what analysts have predicted for its full-year results.

Its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) are expected to reach at least 300 million euros (£269 million).

Gamesys, meanwhile, said it expects revenue and adjusted Ebitda to be ’at, or above, the upper end of current market expectations for the period’.

Online gaming companies have found it easier to operate during the pandemic than their bricks-and-mortar rivals, and have in many cases seemed to pick up more business from customers stuck at home.

The Gamesys Group operates online casino and bingo-led brands including jackpotjoy and Virgin Games, with more than 1,500 employees around the world.

It is planning to create an office in the island with around 20 new roles which will cover privacy and responsible gaming, through to marketing and customer service.

Lee Fenton, chief executive, said: ’Our decision to open an office on the Isle of Man is an important milestone in our growth story.’

Mr Fenton has put his company’s success in 2020 down to ’a deep understanding of our player base’, an ’excellent execution against our strategy’, and a ’commitment to always putting players at the heart of everything that we do’.

Mr Fenton added: ’During the year, we also delivered a maiden dividend and as we enter 2021, we are in a strong position to continue to deliver growth in the business and create value for our shareholders.’

Playtech has an office in St George’s Court, Upper Church Street, Douglas, with around 10 staff.

The company’s shareholders have now agreed to the board’s proposed relocation of tax residency from the Isle of Man to the UK.

But Playtech has stressed to Business News it intends to keep its island office.

Playtech said the first half of its year had seen a standout performance from Finalto, which lets customers bet on the stock market.

In the second half, its business to business unit and Italian betting subsidiary Snaitech drove performance.

But its expectation-busting performance is still likely to see adjusted Ebitda drop by around a fifth. In 2019, the measure reached 383 million euros (£342 million).