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Gaming Innovation Group reports Q2 2020

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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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EvenBet Gaming Presents Spins Poker: A Revolution in Online Poker

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EvenBet Gaming, a well-known developer of online gaming software, has announced the launch of its new innovative product – EvenBet Spins. This project promises to completely redefine the perception of poker by combining elements of classic poker games with the dynamics of slot mechanics. Even in the online gambling world, where genuine innovations are rare, EvenBet Spins stands out as a genuine breakthrough poised to attract a broad audience of players.

What is EvenBet Spins?

EvenBet Spins is a unique solution that blends poker mechanics and casino game experience into a single product. Unlike traditional poker, which involves long sessions and deep strategies, Spins Poker offers fast-paced and thrilling rounds that last only a few minutes. It is a perfect choice for players who prefer quick games where the outcome can change in a matter of seconds.

In addition, the inclusion of random win multipliers and hyper-turbo rounds adds an extra layer of excitement reminiscent of slot and jackpot games. This means every round can deliver a surprise, making the gameplay even more engaging. EvenBet Spins opens new horizons for those seeking shorter, more dynamic, and visually exciting poker experiences – without losing the familiar core mechanics of the game.

Integration with Casino and Sportsbook Platforms

Spins Poker offers a streamlined integration process tailored for casino and sportsbook operators seeking to expand their product offerings without the operational complexity of a traditional poker environment. The system integrates seamlessly with existing platforms, enabling operators to introduce poker-style gameplay to audiences accustomed to slots or sports betting, while minimizing the management overhead typically associated with a full poker room.

A simplified product structure eliminates the need for a dedicated poker operations team, extensive onboarding, or continuous oversight. Fraud monitoring and AML workloads remain significantly lower when compared to comprehensive poker solutions. As a result, Spins Poker becomes an accessible addition for operators aiming to diversify engagement tools with minimal resource commitment.

According to Dmitry Starostenkov, CEO of EvenBet Gaming, the concept behind Spins Poker focuses on reducing operational barriers for operators. He highlighted several key advantages:

  • Straightforward integration into websites or applications;
  • No requirement for an internal poker management team, since the product only needs initial setup with periodic adjustments of buy-ins and multipliers;
  • Lower operational effort compared to full-scale poker platforms, which typically demand more preparation, configuration, and ongoing optimization;
  • The ability for operators to test poker demand among casino and sportsbook audiences without investing in dedicated staff, lengthy integrations, or extensive marketing campaigns.

In essence, Spins Poker serves as a low-risk, low-maintenance entry point into poker verticals. Its simplified mechanics, flexible configuration, and compatibility with casino and sportsbook platforms make it an efficient tool for testing audience interest and expanding engagement without the commitment required for traditional poker solutions.

Design and Mobile Optimization

Special attention has been given to design and mobile optimization in EvenBet Spins. Considering the growing popularity of mobile gaming, the product was developed with a mobile-first approach to ensure maximum user comfort and convenience. The simple interface, intuitive navigation, and fast loading times make the game accessible to players of all experience levels.

The overall design emphasizes minimalism and functionality, ensuring a smooth and comfortable gaming experience. The product also adheres to the latest UX design trends, making it equally convenient on smartphones, tablets, and desktop devices. The mobile version of the game is ideal for players who enjoy gaming anytime and anywhere, making EvenBet Spins accessible to a wide range of audiences.

How EvenBet Spins is Changing the Online Poker Market

EvenBet Spins is not just another poker format – it’s a true revolution in the world of online gambling. It transforms the perception of online poker from a niche game to a new level, where speed and excitement become central to the gameplay.

This product opens new opportunities for both players and operators. The integration of random multipliers, hyper-turbo rounds, and other innovations within poker mechanics not only makes the game more appealing to newcomers but also introduces new engagement tools for experienced players. EvenBet Spins has the potential to set a new standard in the online poker industry and open up new perspectives for online casinos and sportsbooks.

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Claudia De Santis Head of Gaming Integrations & Operations at Eurobet.it

Swintt titles take Italy by storm following Eurobet partnership

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Sought-after software provider enjoys highly successful market debut and confirms plans to expand current Eurobet.it line-up in the months to come

With Swintt having entered the Italian market last month via an exclusive partnership with Eurobet.it, the in-demand software provider has already announced plans to expand its line-up at the casino following the promising performance of its Elysium Studios titles.

Having initially launched with popular games Pirates Pledge Hold & Win, Battle of Myths, Supa Crew, Wizardz World and Crystalium, uptake among players proved so strong that Swintt is now seeking approval from the regulator to roll out a second round of releases on the Italian platform.

Once that greenlight has been received, Swintt intends to add the spell-binding fairytale slot, A Hopping Kiss, and the recently-released expanding reels game, Enigma of Egypt, to its existing content offering, granting players at Eurobet.it an even greater choice of Elysium Studios options.

Of course, as the portfolio of Elysium Studios titles offered at Eurobet.it continues to grow, Swintt will enjoy ongoing visibility opportunities on the platform that will help raise the provider’s profile in the Italian market and help it build on the strong momentum created by the first wave of games.

From Eurobet.it’s perspective, meanwhile, being the first Italian operator to host Swintt’s state-of-the-art titles will cement the platform’s status as the go-to online casino destination for Italian players while also adding another top tier software studio to its extensive collection of providers.

David Mann, Chief Executive Officer at Swintt, said: “Having only launched with Eurobet.it at the end of October, we’ve been really encouraged by the reception our Elysium Studios titles have received from Italian players and work is already underway to roll out our next round of releases.

“With both A Hopping Kiss and Enigma of Egypt ear-marked to launch on the platform in the coming months, our ongoing partnership with Eurobet will ensure we remain firmly in the public eye and can build on the early momentum created by our strong start to life in the Italian market.”

Claudia De Santis, Head of Gaming Integrations & Operations at Eurobet.it, said: “At Eurobet.it, our strategy focuses on distinguishing our offer by securing the market’s most innovative content first. Partnering with Swintt allows us to maintain this competitive edge. We are thrilled to be the exclusive launch partner for Swintt in Italy; adding ‘Pirate Pledge Hold & Win’ to our library reinforces our commitment to delivering premium, first-to-market experiences to our players.”

The post Swintt titles take Italy by storm following Eurobet partnership appeared first on European Gaming Industry News.

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David Yu Head of AM at VA Gaming

QTech Games marks another red-letter day with VA Gaming integration

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QTech Games, the leading game aggregator for all emerging markets, has announced its latest premier provider partnership with VA Gaming, allowing its platform clients access to another igaming catalogue of over 70 titles.

Integrating content from one of the more innovative and creative digital slots providers adds yet more muscle to QTech Games’ aggregation platform, which is taking the widest range of online games to emerging territories with established names sitting alongside the industry’s most exciting up-and-coming providers.

VA Gaming’s portfolio has been optimised for mobile, a cornerstone of QTech’s offering, which is founded on its fully-owned and customised technical platform, affording games providers and operators the fastest integrations available. Through this leading platform, which has sealed its definitive status as a global gaming one-stop shop, clients enjoy the best performance and customer support available, localised to every region across both developing and more mature markets.

This collaboration naturally broadens VA Gaming’s international scope, unlocking untapped regions for diversified growth, above all in Africa and Latin America, where QTech Games continues to consolidate its firm foothold.

Philip Doftvik, QTech Games’ CEO, said: “Each new integration enriches our offering, and it’s particularly rewarding to support game providers who are actively expanding into ‘margin markets’ such as Latin America and Africa. These emerging markets are enjoying an irresistible momentum at present, so we’re excited to help VA Gaming bring their popular titles to market across many previously uncharted territories for them.”

David Yu, Head of AM at VA Gaming, added:  “VA Gaming is artfully blending creativity and technology to craft unique, engaging online slots with distinctive graphics and features, generating a high-quality gaming experience. This integration is a key part of our unfolding worldwide distribution strategy, especially as we expand our focus in emerging markets, and we look forward to a long and successful collaboration.”

The post QTech Games marks another red-letter day with VA Gaming integration appeared first on European Gaming Industry News.

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