Industry News
Gaming Innovation Group reports Q1 2020
Gaming Innovation Group Inc. (GiG) reports Q1 2020 revenues of €31.1 million and an EBITDA of €2.5 million.
“GiG returns to topline growth as a group for the first time in five quarters, and many of the actions we have taken in Q4 & Q1 will enable further cost savings, optimization of the organisation and performance that will be a leaver to improved earnings in the second part of the year”, says Richard Brown, CEO of GiG.
Financial Highlights
- Return to quarterly growth after four consecutive quarters with decline
- Revenues in Q1 2020 of €31.1m (32.4)
- EBITDA in Q1 2020 was €2.5m (4.1) with an EBITDA margin of 8.1% (12.7%)
- Revenues for the B2B segment in Q1 2020 were €12.7m (14.2), EBITDA was €1.3m (3.0)
- Revenues in Media Services were €8.2m (9.1) in Q1 2020, EBITDA was €4.5m (5.2)
- Other operating expenses were €12.9m (13.3), the number of employees decreased from 695 to 594 year-on-year
- Cash flow from operations in Q1 2020 was €8.1m (4.4) and cash used in investing activities was €3.0m (4.2)
- Revenues for the B2C segment in Q1 2020 were €20.0m (20.2), EBITDA was €1.2m (1.1) with an EBITDA margin of 6% (5%)
Operational Highlights
- Media Services return to quarterly growth in both revenue and FTDs after three quarters of decline
- Strategic review initiated in November 2019, leading to an evolved strategic direction to reduce complexity and improve efficiency in the Company – resulted in agreement in February to divest B2C to Betsson
- Launched MegaLotto onto the platform expanding GiG footprint across iGaming product verticals to include lottery – one of the largest markets in the industry
- Extended the contract with a current platform customer with the addition of two new brands on the new fixed fee model.
- The sales pipeline is developing positively, however has slowed some of the final contract negotiations as land based operators come to terms with actions around COVID-19
- Other cost savings initiatives are progressing according to plan, which is expected to reduce operating expenses and the headcount to approximately 430 by year end 2020
Events after Q1
- The B2C vertical was divested to Betsson effective on 16 April 2020, and the SEK300 million bond was repaid on 22 April 2020
- Revenues from Platform Services in April were 35% higher than Q1-20 average and 40% higher than April 2019
- Sportsbook restructuring initiated, which will lead to around €400k in monthly savings in Sports Betting Services when completed, and place it in a sustainable position for growth and strategic partnerships
Outlook and guidance
- GiG will become one of few fully independent B2B providers after the divestment of the B2C segment – will give the Company dedicated focus on building the B2B business
- Platform Services revenues and profitability will benefit from the increased traction several brands on the platform are experiencing from Q2 and onwards
- GiG will continue its focus on cost control, execution and global expansion and multitude of actions taken in Q4 and Q1 will positively impact bottom line in the latter part of 2020, especially for Sports Betting Services
- Guiding for full year 2020 remains, revenues are expected in the range of €70 – 75 million, with an EBITDA expected in the range of €14 – 17 million (including, for comparison, B2C as continued operations until completion of the transaction)
Investor presentation and webcast
CEO Richard Brown will present the Q1 2020 results via livestream at 11:00 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/live/gig-live-q-5-maj
Powered by WPeMatico
Casino Content
ICONIC21 launches Football Cup-branded casino games and debut network tournament
ICONIC21 has rolled out three limited-edition Football Cup-branded casino games and launched its first network tournament, ICONIC Showdown Football Cup, running from 9th of July to 19th of July.
The new titles are Football Cup Roulette, Football Cup Blackjack 360, and Football Cup Gravity Blackjack. ICONIC21 said the releases showcase different customisation approaches, including green screen production for the roulette environment and an updated visual rebrand for its RNG blackjack table.
For Football Cup Gravity Blackjack, ICONIC21 said it used its latest LED technology and applied the Gravity Series multiplier mechanic, with a custom felt, a football gate, and bespoke 3D-printed decorations.
Alongside the three new games, ICONIC21 pointed to its previously launched slot Soccer World Championship, plus The Kickoff and Top Card, which it said received football-season branding and UI/UX updates.
The ICONIC Showdown Football Cup tournament covers 11 games in total and is positioned around the quarter finals, semi-finals and final period. ICONIC21 said 1,000 winners will share a €50,000 prize pool, and operators can enroll via their account manager or by contacting the company directly.
Edvardas Sadovskis, Chief Product Officer at ICONIC21, said:
“What I’m most proud of with this project is the turnaround. We built three fully branded, technically distinct games, enhanced existing ones with promotional branding, and launched our first-ever network tournament around them, all timed to coincide with peak player interest and traffic.
That kind of speed doesn’t happen by accident, it reflects how this team works. ICONIC Showdown is a meaningful first step for us as a provider, and launching it during the Football Cup, with this much energy around the game, feels like the right way to do it. We’re genuinely excited to see how the leaderboard shapes up and even more excited for the finals.”
The post ICONIC21 launches Football Cup-branded casino games and debut network tournament appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Brand Ambassador
Ronaldinho visits CreedRoomz Yerevan studio to front Marble Cup and Kickoff Roulette
CreedRoomz has brought footballer Ronaldinho to its headquarters in Yerevan, where the company filmed an “exclusive interview” with the former player in connection with two new live casino game shows, Marble Cup and Kickoff Roulette. CreedRoomz said Ronaldinho is the global ambassador for both titles.
In the interview, Ronaldinho said: “For me, it’s a great joy to be a part of this partnership. Since arriving here at the office, everyone has treated me with great affection. I already feel at home, very happy.” Asked to choose between the two games, he added: “Honestly, it’s difficult to choose one, both are wonderful, I loved them, so it’s very difficult to choose one, I think everyone will really like them, I think the whole world will really enjoy them.”
Ronaldinho also described his first impressions of the studio and gameplay: “I was surprised and very happy, everything is very beautiful, everything is very innovative, so I believe that’s why everyone will really like them, so I’m looking forward to everyone starting to enjoy them a lot.”
On why CreedRoomz expects the titles to gain traction, he said: “These are different games. I think that will attract attention, the fact that football is a global passion also helps, so I believe everyone will like it for those reasons.. and for the innovation of everything that is happening.”
CreedRoomz linked the interview to upcoming “World Cup and R10 Tournaments,” with Ronaldinho closing by telling fans: “A message of gratitude for the continued affection. I’m very happy and excited. for the next competitions for the next games, the games are all ready, I hope everyone enjoys them and everyone be very happy and have good times together.”
The post Ronaldinho visits CreedRoomz Yerevan studio to front Marble Cup and Kickoff Roulette appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Gamification
Soft2Bet launches MEGA Shoot World Cup gamification engine
Soft2Bet has launched MEGA Shoot, a football-themed gamification engine designed around the 2026 FIFA World Cup, aimed at helping sportsbook operators retain players during the tournament.
The product will be deployed across selected Soft2Bet brands including Betinia, Swiper, Campobet, ToonieBet and Elabet, with availability spanning markets including Denmark, Greece, Mexico, New Jersey, Ontario, Romania, and the rest of Canada, according to the company.
MEGA Shoot uses a player-versus-player best-of-five penalty shootout format. Players alternate between striker and goalkeeper, with the striker selecting where to shoot and the goalkeeper selecting where to defend. Each round resolves as a goal or a save before roles switch.
Soft2Bet said early internal results show 31.9% engagement among active players across selected brands, with 71.2% of MEGA Shoot players going on to play a second match. The company also claims a 13.5% player retention uplift.
Yoel Zuckerberg, Chief Product Officer at Soft2Bet, said: “The World Cup runs from 11 June to 19 July, so retention has to work across the full tournament calendar. MEGA Shoot gives operators a football game that players can understand quickly, with head-to-head competition tied to the sport they already follow. With almost 32% engagement among active players and about 71% converting into a second match, the early data shows how tournament-led gamification can strengthen sportsbook engagement during major football events.”
The post Soft2Bet launches MEGA Shoot World Cup gamification engine appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
-
Australia7 days agoFormer Star Entertainment Executives Mathias Bekier and Paula Martin Disqualified and Ordered to Pay Penalties
-
Alejandra Burato7 days agoRecord Attendance, Exciting New Releases, and a Resounding Success: This was Zitro Experience Peru
-
ArenaPlus7 days agoDigiPlus Wins “Digital Operator of the Year” Award at 2026 Global Gaming Awards Asia-Pacific
-
Amusnet7 days agoWeekend Reels | Week 25: Slot Drops & Trends
-
Anthony Dalla-Giacoma7 days agoElysium Studios Releases its Latest Slot Game “Hood and Loot”
-
Greece7 days agoSYNOT Games Announces New Partnership with Superbet
-
Bragg Gaming Group4 days agoMassive Gaming launches Blitzcrown titles on Superbet Brazil via Bragg Hub
-
Compliance4 days agoHIPTHER Launches HALLO: The Standard in Compliance Expertise



