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Gaming Innovation Group reports Q2 2020
Gaming Innovation Group Inc. (GiG) reports Q2 2020 revenues of €16.7 million and an EBITDA of €2.8 million.
“Q2 was a strong start for GiG as its first quarter as a B2B only company, and the signings after the quarter confirm further my confidence that the Company can continue to grow and flourish which will deliver shareholder value in the years to come.”, says Richard Brown, CEO of GiG.
Financial Highlights
- Continued quarterly growth with revenues in Q2 2020 of €16.7m (11.3), 47% growth Y/Y and 49% Q/Q
- EBITDA in Q2 2020 was €2.8m (1.5), 93% growth Y/Y and 382% Q/Q. EBITDA margin of 17.0% (13.0%)
- Revenues in Media Services were €8.6m (8.6) in Q2 2020, EBITDA was €4.8m (4.7) with all time high for Paid
- Revenues in Platform Services were €8.2m (4.2) in Q2 2020, EBITDA was €-0.9m (-1.1)
- EBITDA for Sports Betting Services improved to €-0.9m (-1.5) due to reduction in operating expenses by 44%
- Cash flow from operations in Q2 2020 was €10.1m (3.2) and cash used in investing activities was €1.5m (3.5).
Operational Highlights
- The B2C vertical was divested to Betsson effective on 16 April 2020, with Betsson as a new long term customer on Platform Services
- Media Services continued its quarterly growth in both revenue and FTDs, up 5% and 22% respectively
- SkyCity’s successful online expansion in 2020 confirms GiG’s ability to transition a land based casino to online
- Signed long-term agreement with GS Technologies Limited for the provision of GiG’s platform and front-end development to a new casino brand
- The sales pipeline developed positively, however some of the final contract negotiations was delayed as land based operators came to terms with actions around Covid-19
- Cost savings initiatives are progressing according to plan, which is expected to further reduce operating expenses by year end 2020
- The number of employees decreased from 709 to 487 year-on-year
- The SEK300 million bond was repaid on 22 April 2020.
Events after Q2
- Signed three new long-term agreements for GiG’s platform including sports and managed services, further agreements are expected to be signed before year end
- The positive development continues after Q2, July revenues on adjusted basis were up 38% compared to same period last year
- The revenue guiding for continued operations for 2020 are increased to between €52 – 57 million, with an EBITDA expected in the range of €12 – 15 million.
Investor presentation and webcast
CEO Richard Brown will present the Q2 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.
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PokerStars Big Game on Tour returns May 17 with Koon, Deeb and Berkey
Season 3 runs weekly on PokerStars’ YouTube channel through June 14 and includes a $50,000 staked ‘Loose Cannon’ amateur spot.
PokerStars will launch a new run of PokerStars Big Game on Tour episodes on May 17, with Jason Koon, Shaun Deeb and Matt Berkey set to headline the line-up. The series will air on the PokerStars YouTube channel, with weekly episodes through June 14.
The cast for the new instalment also includes MMA fighter Sean O’Malley and high-stakes cash game player Randy ‘3Coin’ Sadler, according to the company. The episodes follow the Big Game format, featuring No Limit Hold’em cash game play.
PokerStars said the season’s ‘Loose Cannon’ will be Canadian operations manager Andy Taylor, who will be staked $50,000 and will keep any profit made at the table. The company described Taylor as running a property maintenance company and, with his wife, a non-for-profit organisation focused on supporting young athletes in Toronto.
A teaser for the new episodes aired during the livestream of the €100,000 High Rollers Invitational at PokerStars European Poker Tour (EPT) Monte Carlo, which featured Koon. PokerStars noted Koon “took home €1,000,000” from the event.
Release schedule: May 17 (Episode 1), May 24 (Episode 2), May 31 (Episode 3), June 7 (Episode 4), and June 14 (Episode 5).
The post PokerStars Big Game on Tour returns May 17 with Koon, Deeb and Berkey appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
Jason Koon, Shaun Deeb, and Matt Berkey Headline New Instalment of PokerStars Big Game on Tour
Poker’s most thrilling televised cash game, PokerStars Big Game on Tour, will return on May 17 with a brand-new set of episodes featuring a stellar line-up headlined by PokerStars Ambassador and number three in the all-time poker money list Jason Koon, reigning two-time World Series of Poker Player of the Year Shaun Deeb, and American high-stakes poker pro and coach Matt Berkey.
MMA Fighter and poker enthusiast Sean O’Malley, and well-known high stakes cash game player and businessman Randy ‘3Coin’ Sadler complete the line-up, who will take to the felt against the ‘Loose Cannon’ to win big.
As always, each episode will showcase high stakes No Limit Hold’em cash game action in the beloved Big Game format, where one amateur player or ‘Loose Cannon’ is staked $50,000 and gets to keep any profit they make at the table.
Canadian Operations Manager Andy Taylor will shake up the felt as the ‘Loose Cannon’ hoping to beat the pros. Andy runs a property maintenance company as his main job and, alongside his wife, runs a non-for-profit organisation aimed at improving the skillset and mindset of young athletes across Toronto.
The teaser for the new Big Game episodes was aired during the live stream of the €100,000 High Rollers Invitational at PokerStars European Poker Tour (EPT) Monte Carlo, featuring Big Game player Jason Koon. Koon took home €1,000,000 after topping a field of some of the best in the world.
The first Big Game episode will air on PokerStars YouTube channel on May 17, with new episodes airing weekly and culminating on June 14.
- Sunday, May 17 – BGOT Season 3 Episode 1
- Sunday, May 24 – BGOT Season 3 Episode 2
- Sunday, May 31 – BGOT Season 3 Episode 3
- Sunday, June 7 – BGOT Season 3 Episode 4
- Sunday, June 14 – BGOT Season 3 Episode 5
The post Jason Koon, Shaun Deeb, and Matt Berkey Headline New Instalment of PokerStars Big Game on Tour appeared first on Americas iGaming & Sports Betting News.
Apple
IBJR hails App Store approval as a milestone in the fight against illegal betting in Brazil
The Brazilian Institute for Responsible Gaming (IBJR) considers Apple’s decision to allow the distribution of regulated sports betting and online gaming applications on its Brazilian App Store a key milestone for the consolidation of a transparent and integrity-driven sector.
This measure strengthens regulation by making it easier for users to clearly identify operators that are duly authorized to operate in compliance with national rules.
Following Google’s decision, made less than a year ago, to authorize the distribution of sports betting apps on the Play Store in Brazil, this initiative acts as a powerful cybersecurity filter and helps protect consumers from the risks of the illegal market.
Since only operators licensed by the SPA are allowed to offer services to iOS users, the process of channeling traffic into the regulated environment is further strengthened.
However, for the measure to be fully effective, continuous enforcement is required, as several illegal apps can still be found on major platforms.

Data from Instituto Locomotiva, in partnership with LCA Consultoria, indicate that the illegal environment—much of it controlled by organized crime—moves around R$40 billion per year in Brazil and generates an estimated annual loss of R$10.8 billion in tax revenue.
In this context, actions that help distinguish legal operators from unauthorized ones are essential.
The presence of applications on both the Play Store and Apple Store reinforces the commitment to Responsible Gaming, as they integrate functionalities required by legislation and audited by the platforms.
These include strict age verification to prevent access by minors under 18, clear risk warnings related to gambling, and self-exclusion tools.
The post IBJR hails App Store approval as a milestone in the fight against illegal betting in Brazil appeared first on Americas iGaming & Sports Betting News.
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