Latest News
Gaming Innovation Group reports Q3 2020
Gaming Innovation Group Inc. (GiG) reports Q3 2020 revenues of €17.9 million and an EBITDA of €3.2 million.
“The growth in financial performance is complemented with strong success in the platform sales funnel which resulted in six additional long term contracts signed in the quarter, securing future recurring revenue growth from regulated markets”, says Richard Brown, CEO of GiG.
Financial Highlights
- Continued quarterly growth with revenues in Q3 2020 of €17.9m (10.1), 78% growth Y/Y and 8% Q/Q. Adjusted revenues were €14.2m (10.0), 42% growth Y/Y and 8% Q/Q
- EBITDA in Q3 2020 was €3.2m (-0.4), up 850% Y/Y and 12% Q/Q. Adjusted EBITDA margin of 22.5% (-4.3%)
- Adjusted revenues for Platform Services were €5.4m (3.6), 51% growth Y/Y and 14% Q/Q.
- Platform Services had positive EBITDA in September, EBITDA for the quarter ended at €-0.1m (-2.1), a 96% improvement Y/Y and 91% Q/Q.
- Revenues in Media Services were €8.6m (8.0) in Q3 2020, EBITDA was €4.0m (4.2)
- EBITDA for Sports Betting Services improved to €-0.7m (-1.8), and includes €0.3m in non-recurring redundancy expenses.
Operational Highlights
- The sales pipeline developed positively, and 6 new agreements were signed for Platform Services in the third quarter, adding to a total of 10 so far in 2020
- Entered into a strategic partnership with Betgenius, creating a fully integrated sportsbook and platform solution for operators in regulated markets
- Sports Betting Services restructuring continued, with a further reduction in operating expenses quarter over quarter, placing Sports Betting Services in a sustainable position for growth and strategic partnerships
- WSN.com continued to grow in the US market with ATH in September, now present in nine US states
- GiG’s platform went live with Betsson’s Rizk.com brand in two new regulated markets, Croatia and Spain
- The number of employees decreased from 695 to 467 year-on-year, whereof around 40 supports the transition agreement with Betsson.
Events after Q2
- Signed a long term agreement with Slotbox Limited, a creation of Ireland’s leading casino group for the provision of GiG’s iGaming platform, omnichannel solution and frontend development to launch their new online casino
- Signed a long-term agreement with Bet Seven Online Ltd for the provision of GiG’s platform, frontend development and managed services to launch its first brand, SuperSeven
- As part of the strategy to end white label agreements, GiG has rescinded its Swedish and UK licenses
- October have remained stable and reported revenues are 48% better than the same period last year.
Investor presentation and webcastCEO Richard Brown will present the Q3 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.
Link to the livestream:
https://www.redeye.se/events/796108/gaming-innovation-group-liveq-presentation-and-qa
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Africa
Booming Games signs content deal with World Sports Betting in South Africa
WSB adds Booming titles including Tasty Bonanza, Cash Pig and the Buffalo series to its casino lobby.
Booming Games has signed a partnership with World Sports Betting (WSB) to roll out a selection of its casino titles on WSB’s platform in South Africa.
Under the agreement, WSB players will gain access to Booming Games content including Tasty Bonanza, Cash Pig and the Buffalo series. Booming Games positioned the deal as part of its wider expansion strategy across Africa.
Ryno Du Plessis, Group Chief Operating Officer at World Sports Betting, said: “We believe that Booming’s portfolio will offer something new and unique to our clients. Titles like Tasty Bonanza, Cash Pig and the popular Buffalo series are sure to be very popular with our player base.”
Solomon Godwin, Head of Africa at Booming Games, added: “We are thrilled to partner with World Sports Betting, a company with an outstanding reputation for delivering premium entertainment to players across the South African market. This collaboration represents an exciting step forward in expanding Booming Games’ reach and ensuring our titles are accessible to even more players in South Africa. We look forward to building a successful long-term relationship and delivering high-quality entertainment to their customers.”
The post Booming Games signs content deal with World Sports Betting in South Africa appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
Exclusive Relax Gaming slot lands at Zingo Bingo
Zingo Bingo has exclusively launched Midnight Marauder ClusterBreaker, the latest action-packed slot from leading supplier Relax Gaming.
The neon-fuelled heist adventure is now available to Zingo Bingo players who will embark on a precision operation to plot the ultimate raid to try and crack the vault to unlock those wins.
Set across a 4×4 cluster-pay grid, Midnight Marauder ClusterBreaker combines fast-paced gameplay with expanding cluster mechanics and escalating rewards inspired by high-stakes vault robberies and underground crime capers.
The excitement builds throughout gameplay thanks to the slot’s Progressive Generation Multiplier feature. With every consecutive generation of winning clusters, the multiplier doubles, creating the potential for massive payouts as cascades continue across the reels.
Players can also trigger Smash ‘N’ Grab Free Spins, with opportunities to increase spins and multipliers throughout the bonus feature, adding even more excitement and win potential during gameplay.
New online UK bingo brand Zingo Bingo offers a variety of online bingo rooms as well as access to thousands of slot titles and this latest launch further strengthens its growing collection of popular Relax Gaming releases including Money Train 4, Temple Tumble Megaways and Iron Bank 2.
Zingo Bingo Head of Brand Jack Watson said: “At Zingo Bingo, we’re committed to providing the highest standard of online experience for players with a growing portfolio of more than 8,000 games, including new releases and exclusive launches. We’re delighted to be bringing Midnight Marauder ClusterBreaker to our players as an exclusive launch and it’s exactly the kind of fresh, entertaining release our players love to see.
“Relax Gaming has done a fantastic job combining innovative mechanics with fast-paced gameplay and exciting bonus features, while the ClusterBreaker mechanic adds something genuinely different to the experience. We’re delighted to be bringing the game to Zingo Bingo players.”
The post Exclusive Relax Gaming slot lands at Zingo Bingo appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Alex Scott Chief Product Officer at Tequity
Tequity appoints Alex Scott as Chief Product Officer
Former Microgaming poker MD and ex-WPT Global president joins as supplier pushes regulated-market expansion and new verticals.
Tequity has appointed Alex Scott as Chief Product Officer, adding a long-time iGaming executive to lead product vision and oversee the product lifecycle from conception to market launch.
Scott has more than 20 years of experience in the sector. He previously served as Managing Director of Poker at Microgaming and later led WPT Global as President.
The hire comes as Tequity expands its product structure, including the recent launch of Tequity Exclusives, a vertical for custom-built games that sits alongside its RGS, Originals and Publishing divisions. The company also said it has completed BMM Testlabs certification for its RNG and the first batch of Tequity Originals titles as it targets regulated markets.
Alex Scott, Chief Product Officer at Tequity, said: “Tequity is pushing the boundaries of what is possible in iGaming by harnessing the power of technology to streamline and elevate game development.
“It is an incredibly exciting time to join the team. I look forward to leading the product vision across our expanding divisions to deliver next-generation casino content to operators worldwide.”
Krzysztof Opałka, CEO at Tequity, said: “We are thrilled to welcome Alex to the team as we continue to move the business forward at pace. His two decades of industry leadership and pioneering, hands-on experience with AI-driven casino games make him the perfect fit to lead our product strategy.
“With our rapid recent progress across all of our divisions, his expertise will be invaluable in maximising the impact of our portfolio.” Scott will attend iGB Live in London next month as part of Tequity’s team.
The post Tequity appoints Alex Scott as Chief Product Officer appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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