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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.

Alberta

St8 extends TonyBet partnership to Alberta after securing supplier registration

Published

48 minutes ago

July 22, 2026

Wladimir P.

st8-extends-tonybet-partnership-to-alberta-after-securing-supplier-registration

St8 has extended its partnership with TonyBet into Alberta, expanding their Canada footprint following an earlier launch in Ontario this year.

Under the expanded agreement, TonyBet will use St8’s game aggregation platform through a single API integration. St8 said this provides access to its wider catalogue of casino content for players in Alberta.

St8 said the Alberta rollout follows its newly acquired registration to operate in the province as an iGaming Services Supplier, allowing it to provide aggregation services to licensed operators in the market. The company said its platform connects partners to more than 200 game providers via a single API.

David Fall, Business Development Manager at St8, said:

“Entering Alberta’s regulated market is a strong step for St8 that represents our continued efforts to bring our offerings to as many territories as possible, delivering top-tier results for partnerships at the local, national and international stage. We share this commitment with TonyBet, a company that we are very fortunate to be working with so collaboratively and closely as we continue to grow our presence across North America.”

Kiryl Liudvikevich, Head of Product at TonyBet, said:

“We’re proud that our work with St8 has enabled us to continue expanding across Canada. Through St8’s aggregation platform, we can seamlessly access games from the industry’s leading providers via a single integration, helping us scale efficiently while maintaining a strong focus on the player experience. St8 has cemented itself as our go-to partner for expansion into regulated markets, and we look forward to continuing our collaboration as we grow into new jurisdictions.”

The post St8 extends TonyBet partnership to Alberta after securing supplier registration appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Alberta

St8 continues partnership with TonyBet with an expansion into Alberta

Published

48 minutes ago

July 22, 2026

GamingAmericas.com

st8-continues-partnership-with-tonybet-with-an-expansion-into-alberta

Casino game aggregation platform and full-service technology provider St8 has extended its ongoing partnership with TonyBet into Alberta, furthering both companies’ expansion into Canada.

As part of the extended agreement, Tonybet will benefit from St8’s next-generation platform via a single API integration, unlocking seamless access to a wide portfolio of games from the industry’s leading providers and enhancing its casino offering for players in Alberta.

The move is the latest in St8’s successful relationship with TonyBet, having previously launched in Ontario earlier this year in a bid to continually grow in regulated markets worldwide.

This expansion was made possible thanks to St8’s newly acquired registration to operate in Alberta as an iGaming Services Supplier, enabling St8 to provide its next-generation game aggregation services to licensed operators in the region, giving partners access to more than 200 premium game providers through a single API integration.

Featuring over 3,000 games from more than 60 providers, TonyBet, meanwhile, has gone from strength to strength in its 17-year history, establishing itself as one of the industry’s leading game studios by delivering engaging titles that combine player appeal with premium gameplay.

Holding licenses in 10 different jurisdictions including Spain, the Netherlands, the UK, Ireland and Estonia, among others, Tonybet’s partnership with St8 has seen them now launch in two separate territories in Canada, with both companies working collaboratively to explore the opportunities available in exciting new markets. This latest agreement reinforces St8’s strategy of expanding its premium content portfolio while helping operators simplify integration, accelerate market entry, and deliver engaging gaming experiences across multiple regulated jurisdictions.

Speaking on the expansion, David Fall, Business Development Manager at St8, said: “Entering Alberta’s regulated market is a strong step for St8 that represents our continued efforts to bring our offerings to as many territories as possible, delivering top-tier results for partnerships at the local, national and international stage. We share this commitment with TonyBet, a company that we are very fortunate to be working with so collaboratively and closely as we continue to grow our presence across North America.”

Kiryl Liudvikevich, Head of Product at TonyBet, had this to say: “We’re proud that our work with St8 has enabled us to continue expanding across Canada. Through St8’s aggregation platform, we can seamlessly access games from the industry’s leading providers via a single integration, helping us scale efficiently while maintaining a strong focus on the player experience. St8 has cemented itself as our go-to partner for expansion into regulated markets, and we look forward to continuing our collaboration as we grow into new jurisdictions.”

The post St8 continues partnership with TonyBet with an expansion into Alberta appeared first on Americas iGaming & Sports Betting News.

BetBuilder

OpenBet reports $3bn staked and 175m bets during World Cup 2026

Published

2 hours ago

July 22, 2026

Wladimir P.

openbet-reports-$3bn-staked-and-175m-bets-during-world-cup-2026

OpenBet said its platform processed more than 175 million bets and $3 billion in stakes across its global operator customers during World Cup 2026. The supplier published the figures on 22nd July 2026, describing the tournament as its biggest-ever betting event.

The company said England’s run to the semi-finals drove high volumes across its UK-facing customers. OpenBet reported almost 5 million pre-match bets for England vs Norway in the quarter-final, with England vs Argentina close behind at 4.65 million.

OpenBet also pointed to increased demand for player-driven markets. It said 23 million Player Prop bets were processed during the tournament, up 130% versus Qatar 2022, and that the final between Spain and Argentina generated 831,000 BetBuilder bets, 39% more than four years earlier. OpenBet added that ten of the 20 most repeated bet combinations included a Player Goals or Player Stats selection, compared with four in 2022.

In-play betting rose as the knockout rounds progressed, with OpenBet saying live bets reached around one in six bets and carried higher average stakes than pre-match. The supplier said it also provided Managed Trading Services to platform customers during the tournament, covering odds creation, trading content, and risk and liability management.

Beyond sportsbook, OpenBet said its OpenBet Locator product processed more than 200 million location checks across regulated US states during the World Cup. Nikos Konstakis, President at OpenBet, said: “A World Cup is one of the defining moments for our industry, and this was the largest betting event our platform has ever supported.

“What stands out beyond the numbers is the extent to which player behaviour continues to evolve. Fans are no longer simply backing a result, they are building their own narrative around individual players, and our expanded BetBuilder and Player Prop offering met that demand while delivering the high-margin products operators need.

“Sustained peak load across a six-week tournament is different to managing a single event, and our platform handled it extremely well.

“The highest-profile operators trust us with the events that matter most, and this was the largest of them all.”

The post OpenBet reports $3bn staked and 175m bets during World Cup 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.