Press Releases

Gaming Innovation Group reports Q1 2020

Published

6 years ago

May 5, 2020

George Miller

Reading Time: 2 minutes

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

eSports

Esports Foundation names Faker Game Ambassador for EWC and ENC through 2028

Published

10 hours ago

July 15, 2026

Wladimir P.

esports-foundation-names-faker-game-ambassador-for-ewc-and-enc-through-2028

Lee “Faker” Sang-hyeok joins Cristiano Ronaldo and Magnus Carlsen in the Esports Foundation’s Ambassador Program.

The Esports Foundation (EF) has appointed Lee “Faker” Sang-hyeok as a Game Ambassador for the Esports World Cup (EWC) and Esports Nations Cup (ENC) through 2028, the organization said on July 15, 2026 in a statement issued from Riyadh and Paris.

EF said Faker joins Cristiano Ronaldo, listed as the Foundation’s Global Ambassador, and Magnus Carlsen as part of the Esports Foundation Ambassador Program. The Foundation said Faker will represent “the perspective of esports players” across its international events, athlete initiatives, media engagements and leadership forums.

“You can’t talk about esports without mentioning Faker. He is the defining athlete of competitive gaming: a champion whose excellence, discipline and longevity have inspired an entire generation,” said Ralf Reichert, Chief Executive Officer of the Esports Foundation. “As our Game Ambassador, Faker represents something fundamental to the Ambassador Program: esports creates its own global sporting icons. Across EWC, ENC and NGSC, he will help ensure that the players who built this sport have a voice in shaping where it goes next.”

Faker said: “Competition has shaped my life, and I am proud to join the Esports Foundation as Game Ambassador. I want to continue competing for the biggest titles with T1 while representing the players and fans who have helped esports grow worldwide. Through the Esports World Cup, Esports Nations Cup and the Foundation’s wider platforms, I hope to inspire the next generation to pursue excellence, remain resilient and believe in how far competitive gaming can take them. There is still much more to achieve.”

EF highlighted Faker’s competitive record, describing him as a six-time League of Legends World Champion, EWC 2024 winner, two-time MSI champion and ten-time domestic champion with T1. The Foundation also said Faker became the first esports athlete to receive the Blue Dragon Medal in 2026, describing it as the Republic of Korea’s highest sporting honor awarded by President Lee Jae-myung.

The post Esports Foundation names Faker Game Ambassador for EWC and ENC through 2028 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Brand Partnerships

Midnite signs as Middlesbrough FC principal partner for 2026/27 season

Published

17 hours ago

July 15, 2026

Wladimir P.

midnite-signs-as-middlesbrough-fc-principal-partner-for-2026/27-season

Midnite has agreed a partnership with Middlesbrough FC that will see the UK bookmaker become the club’s principal partner and front-of-shirt sponsor for the 2026/27 campaign, which Middlesbrough describes as its landmark 150th season.

The companies announced the deal alongside a fan activation at Riverside Stadium on Thursday, July 9, branded “This Season’s On Us”. The initiative offered supporters prizes including 2026/27 season tickets, 2026/27 shirts, match tickets, or a £25 club shop voucher, with fans required to answer Middlesbrough trivia and complete a football challenge.

Middlesbrough former players Craig Hignett and David Wheater attended the event, and, according to the company, took bonus attempts on behalf of participants who missed out.

Andrew Mook, Midnite’s Head of Brand Marketing, said:

“Middlesbrough have a storied history and we’re delighted to announce this partnership during such a monumental year with the club celebrating their 150th anniversary.

“It was great to see so many Middlesbrough fans at the “This Season’s On Us” activation, we hope they enjoyed taking part and meeting club legends, with David Wheater hitting top bins on several occasions and allowing fans to win big with season tickets.

“We can’t wait to get to Riverside Stadium in August to kick-off a new season and we’re excited to say that we have plenty of new and captivating campaigns planned.”

Lee Fryett, Middlesbrough FC Chief Commercial Officer, added:

“We’re delighted to welcome Midnite as our new Principal Partner.

“We’re looking forward to working closely with Midnite to develop engaging campaigns, content and unique experiences that bring our fans even closer to the club.

“We’re confident this partnership will provide real value for our supporters while supporting our ambitions both on and off the pitch.”

The post Midnite signs as Middlesbrough FC principal partner for 2026/27 season appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

AGCO

ThrillTech secures AGCO supplier licence for Ontario launch

Published

17 hours ago

July 15, 2026

Wladimir P.

thrilltech-secures-agco-supplier-licence-for-ontario-launch

ThrillTech has been awarded a Gaming-Related Supplier licence by the Alcohol and Gaming Commission of Ontario (AGCO), clearing the company to launch in Ontario’s regulated market.

The licence allows ThrillTech to deploy its opt-in side bet jackpots technology with regulated online casino, sports betting and lottery operators across the province.

Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing our AGCO licence is a major step in our mission to transform how jackpots are delivered at scale across regulated markets. This latest certification is testament to our robust technology and trusted compliance frameworks, allowing us to continue our global growth trajectory. We are thrilled to bring our proven, compliant jackpot technology to Ontario, empowering locally licensed operators to uplift revenue without cannibalising existing spend.”

The company said its “ThrillPots” mechanics sit as an independent, player-funded side bet and do not alter the underlying game’s return-to-player mathematics.

ThrillTech said the Ontario approval enables its existing multinational partners that also operate in the province to launch its side bet jackpots locally, while it also holds talks with potential new operator partners. The company lists its regulated footprint as including the United Kingdom, Sweden, the Netherlands, Romania, Malta, Gibraltar, Brazil and Peru.

The post ThrillTech secures AGCO supplier licence for Ontario launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.