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Gaming Innovation Group reports Q3 2020

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Gaming Innovation Group Inc. (GiG) reports Q3 2020 revenues of €17.9 million and an EBITDA of €3.2 million.

“The growth in financial performance is complemented with strong success in the platform sales funnel which resulted in six additional long term contracts signed in the quarter, securing future recurring revenue growth from regulated markets”, says Richard Brown, CEO of GiG.

Financial Highlights

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  • Continued quarterly growth with revenues in Q3 2020 of €17.9m (10.1), 78% growth Y/Y and 8% Q/Q. Adjusted revenues were €14.2m (10.0), 42% growth Y/Y and 8% Q/Q
  • EBITDA in Q3 2020 was €3.2m (-0.4), up 850% Y/Y and 12% Q/Q. Adjusted EBITDA margin of 22.5% (-4.3%)
  • Adjusted revenues for Platform Services were €5.4m (3.6), 51% growth Y/Y and 14% Q/Q.
  • Platform Services had positive EBITDA in September, EBITDA for the quarter ended at €-0.1m (-2.1), a 96% improvement Y/Y and 91% Q/Q.
  • Revenues in Media Services were €8.6m (8.0) in Q3 2020, EBITDA was €4.0m (4.2)
  • EBITDA for Sports Betting Services improved to €-0.7m (-1.8), and includes €0.3m in non-recurring redundancy expenses.

Operational Highlights 

  • The sales pipeline developed positively, and 6 new agreements were signed for Platform Services in the third quarter, adding to a total of 10 so far in 2020
  • Entered into a strategic partnership with Betgenius, creating a fully integrated sportsbook and platform solution for operators in regulated markets
  • Sports Betting Services restructuring continued, with a further reduction in operating expenses quarter over quarter, placing Sports Betting Services in a sustainable position for growth and strategic partnerships
  • WSN.com continued to grow in the US market with ATH in September, now present in nine US states
  • GiG’s platform went live with Betsson’s Rizk.com brand in two new regulated markets, Croatia and Spain
  • The number of employees decreased from 695 to 467 year-on-year, whereof around 40 supports the transition agreement with Betsson.

Events after Q2

  • Signed a long term agreement with Slotbox Limited, a creation of Ireland’s leading casino group for the provision of GiG’s iGaming platform, omnichannel solution and frontend development to launch their new online casino
  • Signed a long-term agreement with Bet Seven Online Ltd for the provision of GiG’s platform, frontend development and managed services to launch its first brand, SuperSeven
  • As part of the strategy to end white label agreements, GiG has rescinded its Swedish and UK licenses
  • October have remained stable and reported revenues are 48% better than the same period last year.

 

Investor presentation and webcastCEO Richard Brown will present the Q3 2020 results via livestream at 10:00 CET. The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

Link to the livestream:
https://www.redeye.se/events/796108/gaming-innovation-group-liveq-presentation-and-qa

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DATA.BET Attends European Gaming Congress 2024

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Esports betting provider to drive key discussions and compete for awards in Warsaw

DATA.BET, a prominent provider in the competitive betting industry, will participate in the upcoming European Gaming Congress 2024 (EGC), organized by Hipther. The renowned event, held in Warsaw on October 15-16, brings together key players from the gaming, esports, blockchain, AI, and fintech industries across Europe to discuss the sector’s most pressing trends and challenges. DATA.BET’s team will present the latest developments in esports betting and take center stage in a key panel discussion.

At the congress, Otto Bonning, the Head of Sales at DATA.BET, will participate in a panel discussion, “The Future of Esports: Opportunities and Challenges.” As the panel moderator, Otto will lead conversations with other experts, exploring the potential growth of esports and highlighting the strategic importance of esports betting in the evolving iGaming ecosystem.

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Also, DATA.BET supports the event, contributing to Badge, Bracelet & Networking Break Sponsor categories. These efforts underscore the company’s commitment to facilitating meaningful industry interactions and enhancing attendees’ experience.

Moreover, DATA.BET has been shortlisted for two notable awards at the European iGaming Excellence Awards 2024, which will be held on the first evening of the congress. The company has been nominated as Best Esports Betting Provider in 2024 and Innovation in iGaming Technology in 2024 (Player Props). These nominations highlight companies leadership in esports betting and its steady contributions to technological advancements within the iGaming industry.

The upcoming conference provides DATA.BET with a valuable platform to connect with industry leaders, share insights and showcase its latest advancements in esports betting. Otto Bonning, Head of Sales, stated, “The EGC 2024 is crucial for exchanging ideas, sharing expertise, and discussing the future of esports betting. It also allows us to highlight our ongoing efforts to improve our solutions and meet the evolving needs of the industry.”

The post DATA.BET Attends European Gaming Congress 2024 appeared first on European Gaming Industry News.

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Balkans

SOFTSWISS Gets Certification for Its Jackpot Aggregator in Bulgaria

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SOFTSWISS, a leading technology provider for iGaming, has further solidified its presence in the European market by securing certification for its Jackpot Aggregator in Bulgaria. 

The iGaming market in Bulgaria is experiencing significant growth, attracting new businesses despite stringent domestic regulations. The market is projected to generate 168.70 million euro in revenue by 2028, with an annual growth rate of 5.42%. The number of users is expected to reach 377.3 thousand by the same year, further highlighting the sector’s momentum.

In line with this growth, SOFTSWISS announces that its Jackpot Aggregator has received certification from Gaming Laboratories International (GLI), ensuring it meets all technical requirements for use in the Bulgarian market. With the new certification of the SOFTSWISS Jackpot Aggregator, Bulgarian-licensed operators can integrate this advanced engagement tool into their casino offerings.

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In May, SOFTSWISS successfully entered the Bulgarian market through a partnership with Topwin.bg, which implemented the SOFTSWISS Casino Platform, the Game Aggregator, and the Sportsbook.

“We are seeing a strong surge in interest in our jackpot mechanic, fueled by the growing demand for engagement tools in the market. That’s why we are committed to further developing the Jackpot Aggregator, enhancing its features, and expanding into new markets. Certification for the Bulgarian market is a clear testament to our ambition and drive for expansion. We are actively working on obtaining certifications in other jurisdictions,” comments Angelina Stasiuk, Head of Business Line at SOFTSWISS Jackpot Aggregator.

SOFTSWISS has several international and national licences and certifications, including a South African licence acquired through the purchase of a majority stake in Turfsport. The company recently announced its plans to become the first certified software provider in Brazil.

 

About SOFTSWISS

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SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

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Sitebee partners with QMRA

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To help operators and affiliates navigate this complex environment, Sitebee has partnered with Quality Mark Responsible Affiliates, seamlessly integrating legal expertise into Sitebee’s platform.

This collaboration enables Sitebee to offer its clients precise, real-time compliance solutions, supported by QMRA’s thorough understanding of the regulatory frameworks across multiple jurisdictions. With this partnership, Sitebee ensures operators stay informed and equipped to handle the challenges of a rapidly evolving market.

 

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Compliance knowledge rooted in legal expertise

Through the partnership with QMRA, Sitebee offers clients access to an enhanced compliance tool that goes beyond monitoring. Backed by QMRA’s deep expertise in iGaming regulations, the platform now provides tailored legal insights that help operators anticipate and adapt to changing requirements in various regions.

Rasmus Bank Nielsen, Head of Sitebee, remarked: “By integrating QMRA’s extensive legal knowledge, Sitebee empowers our clients with the latest regulatory insights, allowing them to operate with confidence in a highly dynamic market. This partnership gives operators the clarity and foresight they need to manage risk and maintain compliance across all regions where they operate.”

 

Focused on security, efficiency, and insight

As regulatory demands increase, Sitebee positions itself as an indispensable partner for operators seeking clear, actionable compliance insights. With the addition of QMRA’s expertise, Sitebee clients continues to benefit from:

  • Legal clarity on regulatory shifts across jurisdictions, ensuring operators are always informed of important changes.
  • Real-time data that allows for quick, informed decision-making, reducing the risk of non-compliance.
  • Operational efficiency, streamlining the compliance process through automation, so operators can focus on growing their business while minimizing compliance risks.

Steven Vrolijk, LL.M., Director of QMRA, added: “Our collaboration with Sitebee strengthens the ability to deliver reliable, up-to-date compliance insights. By combining Sitebee’s robust compliance infrastructure with our legal expertise, operators can confidently navigate complex regulations and focus on their core business.”

 

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Ahead of the curve in a complex regulatory environment

With QMRA’s legal expertise now a core part of Sitebee, the platform is designed to help operators navigate the ever-changing regulatory landscape. By providing clients with the most accurate and timely compliance information, Sitebee ensures that businesses are not just responding to changes – they are ready for them.

The post Sitebee partners with QMRA appeared first on European Gaming Industry News.

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