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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2020 130,000 · FY2021 151,000 · FY2022 103,500 — 3-yr total 384,500
Atlas LLC (ატლას) is the original operating company of Adjarabet, Georgia's largest online betting and gaming brand (casino, sports, poker and peer-to-peer games; adjarabet.com). Paddy Power Betfair, now Flutter Entertainment, bought 51% from City Loft LLC, Temur Ugulava's Adjara Group holding (404909934), on 1 February 2019 for £101m through Atlas Holdings LLC (404572789), and the remaining 49% on 1 July 2022 for $251m (£204m). FY2018 revenue ₾215m and EBITDA ₾68m per the deal announcement; FY2022 revenue ₾706m. Filings stop after FY2022, when reporting moved to the consolidated Atlas Holdings LLC. The register extract here still shows the 2019 51/49 split between Atlas Holdings and City Loft; the 2022 buy-out settled at the Atlas Holdings level.
Subsidiary of Atlas Holdings (51.0%)
| Line item | 2019 | 2020 | 2021 | 2022 | CAGR |
|---|---|---|---|---|---|
| Total Revenue | 284,055 | 405,939 | 639,290 | 706,247 | +35.5% |
| Total COGS | 92,753 | 136,103 | 222,699 | 265,043 | +41.9% |
| Gross Profit | 191,302 | 269,836 | 416,591 | 441,204 | +32.1% |
| Gross Margin | 67.3% | 66.5% | 65.2% | 62.5% | |
| Other Operating Income | 282 | 1,262 | 5,163 | 1,645 | +80.0% |
| 109,590 | 155,407 | 197,257 | 237,148 | +29.3% | |
| EBITDA | 81,994 | 115,691 | 224,497 | 205,701 | +35.9% |
| EBITDA Margin | 28.9% | 28.5% | 35.1% | 29.1% | |
| Total D&A | 7,193 | 11,831 | 13,013 | 20,821 | +42.5% |
| EBIT / Operating Income | 74,801 | 103,860 | 211,484 | 184,880 | +35.2% |
| Total Interest Income | 894 | 2,550 | 659 | 3,717 | +60.8% |
| Total Interest Expense | 715 | 2,240 | 1,232 | 775 | +2.7% |
| Total Other Income | 1,482 | 133 | 3 | 4 | nmf |
| Profit Before Tax | 76,462 | 104,037 | 210,908 | 187,826 | +34.9% |
| Total Income Tax | 526 | 1,306 | 11,774 | 23,541 | +255.0% |
| Net Profit / (Loss) | 75,115 | 101,549 | 198,479 | 161,235 | +29.0% |
| Net Margin | 26.4% | 25.0% | 31.0% | 22.8% | |
| Other Comprehensive Income | 1,508 | 174 | 931 | 59 | nmf |
| Total Comprehensive Income | 73,607 | 101,375 | 197,548 | 161,294 | +29.9% |
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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