financial results
GiG Software PLC Q3 Trading Results
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GiG Software Plc, a leading B2B iGaming technology company, has announced its financial results for the third quarter ended 30 September 2025 (Q3 2025).
Key Operational Highlights
• Delivered three launches across Q3 2025, including GiG’s market-leading sportsbook in the UK, with two additional launches released following the end of the quarter
• Ongoing new business momentum continued, with five commercial agreements signed, including an agreement to supply the technology to a European Lottery alongside new business wins targeting the Brazilian market
• Continued progress against the Company’s key strategic growth priorities, in particular leveraging AI across the iGaming vertical
• Post quarter end, the Company entered into a commercial agreement with a European Operator to provide platform and sportsbook services to the French market.
Financial Summary of Q3 2025
• Q3 2025 revenue of €9.7 million (Q3 2024: €7.4 million), up 31% YoY
• Q3 2025 Adjusted EBITDA for the third quarter of 2025 increased €2.3 million to €1.2 million (Q3 2024: loss of €1.1 million) at a margin of 13% (Q3 2024: -15%)
• Q3 2025 operating loss reduced to €3.5 million (Q3 2024: underlying loss of €9.7 million)
• Cash and cash equivalents balance of €4.7 million as at 30 September 2025 (30 September 2024: €10.0 million; 31 December 2024: €6.4 million).
At the end of Q3 2025, GiG received €11m in relation to the Company’s directed share issue. In light of this, the Board is satisfied with the current strength of the Company’s Balance Sheet and, in the interest of all shareholders, do not currently envisage the need for additional funds.
Results for the First Nine Months of 2025
Revenue for the first nine months of 2025 (9M 2025) was up 22% YoY to €28.0 million (9M 2024: €23.0 million)
Adjusted EBITDA for 9M 2025 amounted to €2.6 million (9M 2024: underlying loss of €3.1 million), at a margin of 9% (9M 2024: -13%)
Operating loss for 9M 2025 reduced to €11.6 million (9M 2024: underlying loss of €22.1 million)
Richard Carter, Chief Executive Officer of GiG, said: “We continue to be encouraged with our ongoing financial and operational progress across the business. Our new business momentum has been supported by a number of key strategic new business wins, including recent gains targeting the Brazilian market and GiG securing a major European Lottery, marking our first entry into the lottery vertical.
“Q3 represented another period of progress for GiG and further evolution of the business. We continue to refine our go-to-market strategy and evolve our highly scalable technology platform complemented by an increasingly data-driven, AI-empowered operating model.”
The post GiG Software PLC Q3 Trading Results appeared first on European Gaming Industry News.
Codere Online has released its preliminary unaudited financial results for the quarter ended March 31, 2026.
The net gaming revenue rose to €64.4M during the first quarter of 2026, marking a 13% increase compared to the same period in 2025. Spain generated €25.5M in revenue, reflecting a 16% year-on-year rise, while Mexico contributed €34.6M, up 13%. Revenue from other markets totaled €4.4M, slightly down by 2%.
Average monthly active players also showed strong growth, reaching 183,500, a 14% increase year-on-year. Spain recorded 59,000 active players (+13%), while Mexico saw a significant jump to 98,200 (+20%). Other markets experienced a slight decline to 26,300 players (-3%).
Aviv Sher, CEO of Codere Online, said: “We delivered a very strong start to 2026, achieving record quarterly net gaming revenue of €64.4 million, up 13% year‑on‑year. In Spain, performance accelerated meaningfully, with net gaming revenue growing 16%, reflecting a clear continuation and acceleration of the positive trends we began to see in the second half of 2025, particularly in the fourth quarter. Mexico also continued to deliver double‑digit growth on the back of a 20% increase in the number of active customers.”
The company also reported a significant improvement in profitability. Adjusted EBITDA reached €6.0M in Q1 2026, an increase of €4.2M compared to the previous year. Net income stood at €7.0M, a marked turnaround from a €0.7M loss in Q1 2025.
Marcus Arildsson, CFO of Codere Online, said: “Q1 2026 marked a clear step forward in profitability, with Adjusted EBITDA reaching €6.0 million, €4.2 million above the same period last year and a net profit of €7.0 million. We closed the quarter with a solid total cash position of €56.2 million and no financial debt, providing a strong balance sheet. Based on this performance, we reiterate our outlook for full year 2026, with expected net gaming revenue of €235–245 million and Adjusted EBITDA of €15–20 million.”
The post Codere Online Reports Financial Results for the First Quarter of 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
ZEAL Network SE reported higher first-quarter 2026 revenue despite what it described as a weak jackpot environment, while profitability softened as the company increased investment. Revenue rose 6% year-on-year to €54.3 million (2025: €51.1 million). EBITDA fell to €15.5 million from €17.7 million.
“The first quarter of 2026 shows that we are consistently executing our strategy even in a weak jackpot environment: our core business is growing, and we have continued to invest in diversifying our business model,” says Andrea Behrendt, CFO of ZEAL. “Through targeted investments in new charity lotteries such as the Dream Car Raffle, we are laying the foundation for sustainable growth that is less dependent on jackpot cycles. The slightly lower EBITDA compared to the previous year is primarily a reflection of these measures.”
In the core lottery segment, ZEAL said average monthly active users increased 5% to 1,575 thousand (2025: 1,507 thousand), while new registrations climbed 11% to 274 thousand (2025: 247 thousand). Lottery billings edged up 1% to €268.0 million (2025: €264.7 million). The lottery gross margin improved to 17.8% (2025: 17.1%), with lottery revenue up 5% to €48.7 million (2025: €46.3 million).
ZEAL also used Q1 to prepare a new in-house charity lottery product. The company said it launched the Traumautoverlosung (English name: Dream Car Raffle) on 14 April 2026, its third charity lottery in Germany after freiheit+ and the Dream House Raffle.
In Games, ZEAL reported revenue up 14% to €3.9 million (2025: €3.4 million) after expanding its B2C portfolio to more than 740 titles. ZEAL said higher marketing costs (+13%) and personnel expenses (+21%) reflected continued investment in scaling charity lotteries and Games alongside the core lottery business.
The post ZEAL posts 6% Q1 2026 revenue growth as EBITDA dips on investment spend appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Las Vegas Sands has reported the financial results for the quarter ended March 31, 2026.
“We continued to execute our strategic objectives during the quarter as we delivered growth in both Singapore and Macao while continuing to increase the return of capital to shareholders,” said Patrick Dumont, chairman and chief executive officer.
“Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead.”
Net revenue was $3.59 billion, compared to $2.86 billion in the prior year quarter. Operating income was $904 million, compared to $609 million in the prior year quarter. Net income in the first quarter of 2026 was $641 million, compared to $408 million in the first quarter of 2025.
Consolidated adjusted property EBITDA was $1.42 billion, compared to $1.14 billion in the prior year quarter.
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL increased 23.6% to $2.10 billion, compared to the first quarter of 2025. Net income for SCL increased 45.5% to $294 million, compared to $202 million in the first quarter of 2025.
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $188 million for the first quarter of 2026, compared to $174 million in the prior year quarter. The weighted average debt balance was $16.0 billion during the first quarter of 2026, compared to $13.86 billion during the first quarter of 2025. The weighted average borrowing cost was 4.6% during the first quarter of 2026, compared to 4.9% during the first quarter of 2025.
The effective income tax rate for the first quarter of 2026 was 14.3%, compared to 13.4% in the prior year quarter. The income tax rate for the first quarter of 2026 was primarily driven by a 17% statutory rate on the Singapore operations.
Stockholder Returns
“During the first quarter of 2026, we repurchased $740 million of our common stock (approximately 13 million shares at a weighted average price of $56.64). The remaining amount authorized under our share repurchase program was $817 million as of March 31, 2026. Since the resumption of our share repurchase program in the fourth quarter of 2023 through March 31, 2026, we have repurchased 14.3% of our outstanding shares, approximately 109 million shares of our common stock at an average price of $47.95, for a total investment of $5.24 billion. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the company’s financial position, earnings, legal requirements, other investment opportunities and market conditions,” the Company reported.
The post Las Vegas Sands Reports First Quarter 2026 Results appeared first on Americas iGaming & Sports Betting News.
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