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Gaming Innovation Group reports Q2 2020

Published

6 years ago

August 11, 2020

George Miller

Reading Time: 2 minutes

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.

Alona Shevtsova

Sends CEO Alona Shevtsova moderates Global Gaming Expansion panel in Riyadh

Published

18 minutes ago

June 25, 2026

Wladimir P.

sends-ceo-alona-shevtsova-moderates-global-gaming-expansion-panel-in-riyadh

Alona Shevtsova, CEO of Sends, will moderate a panel at The Blockchain show on 29^th June, bringing together experts from entertainment, location-based gaming, and content localisation to examine what it takes to build sustainable gaming ecosystems across emerging markets.

The panel, titled “Global Gaming Expansion: Lessons from Untapped Markets,” will structure its discussion across four themes: the growth dynamics reshaping emerging gaming markets; the role of localisation in creating experiences that genuinely connect with new audiences; the infrastructure and communities needed to build gaming ecosystems beyond the game itself; and the lessons and opportunities that will define successful expansion in the years ahead.

Alona Shevtsova plans to frame the discussion around the central challenge for companies looking to expand globally: entering a new market requires far more than bringing an existing product to a new audience. Understanding local cultures, building communities, adapting experiences, and creating ecosystems that allow gaming to grow sustainably are all as important as the product itself.

Alona Shevtsova, CEO of Sends, said:

“The future growth of gaming will come not only from new technologies, but from understanding people — their cultures, communities, and the experiences they want to be part of. Successful expansion will belong to those who can combine global ambition with local understanding.”

The first segment will examine why regions including the Middle East, Africa, and South Asia are becoming increasingly significant for developers, operators, and investors — driven by young audiences, accelerating digital adoption, and new entertainment models creating substantial growth potential. Panellists will explore how consumer preferences differ across markets and what trends among younger audiences are shaping the future of gaming and entertainment.

The third segment will broaden the lens beyond the game itself, exploring the role of location-based entertainment, gaming centres, esports, and experiential destinations in attracting new audiences and building long-term communities. Panellists plan to address how entertainment ecosystems — spanning physical venues, events, and community infrastructure — accelerate gaming adoption in markets where the category is still establishing itself.

Earlier this month, Alona Shevtsova was shortlisted for the 2026 Great British Entrepreneur Awards in the Established Business of the Year category. Her team is also preparing for the Fintech Connect conference in London later this year. Sends will be a leading sponsor of this event.

*Sends is a trade name of SMARTFLOW PAYMENTS LIMITED, registered in England and Wales (Company No.11070048). For more information, visit sends.co .

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