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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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BVGroup
BVGroup community jackpot pays nearly £1m across 501 UK players
BVGroup’s opt-in Epic Community Jackpot has paid out nearly £1 million to 501 customers across its UK iGaming brands, following a drop on June 30, 2026. ThrillTech, which supplied the jackpot technology, said the payout is the first UK “Community Jackpot” of its kind.
The main winner, playing on BetVictor’s online casino, received £488,035.59. BVGroup said 500 additional players across BetVictor, Heart Bingo, Smooth Spins, Betano, Parimatch and TalkSPORTBET each received £976.07 from the same prize pool.
According to the companies, the jackpot was configured to allocate 50% of the total prize to the main winner and distribute the remaining 50% across contributing players, using ThrillTech’s ThrillPots engine. Peter Mareš, Chief Technical Officer at ThrillTech, said: “This is the first community jackpot of its kind in the UK, enabling operators to reward hundreds or even thousands of players with a single jackpot instead of just one. Distributing these payouts at scale requires absolute precision. Our robust technology effortlessly handles the complex mathematics and has advanced protocols in place to ensure that all payouts are delivered exactly as intended.”
The companies also pointed to a previous payout on BetVictor’s “The Jackpots” product last month, when a single BVGroup player won £1,531,130, also powered by ThrillPots. Side bet, opt-in jackpot prize pools are player funded and sit on top of base casino games or sports wagering activity, with this implementation designed to distribute a single drop across a wider pool of contributors.
The post BVGroup community jackpot pays nearly £1m across 501 UK players appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Africa
Booming Games renews Hollywoodbets Durban July activation partnership
Provider plans on-site game demos and a new Golden Gallop release on Hollywoodbets later this year.
Booming Games has renewed its activation partnership with Hollywoodbets for the Hollywoodbets Durban July, returning for a second year at the event at Hollywoodbets Greyville Racecourse.
The company said it will run a cowboy-themed stand aligned with the event’s “Country Allure” theme, offering demo versions of games and a branded “Spin and Win” wheel for prizes. Booming Games added that Founder Max Niehusen, Vice President of Product Moritz Blume, and Head of Africa Solomon Godwin will attend.
Ahead of the event, Booming Games said it has been running a nationwide giveaway offering prizes including VIP experiences at the Hollywoodbets Durban July and a soccer shirt signed by Ronaldinho.
The companies also pointed to a broader commercial pipeline, with Booming Games stating that new releases are set to go live on the Hollywoodbets platform later this year. One of those is Golden Gallop Hold and Win Extreme 10,000, which Booming Games described as the latest entry in its Golden Gallop series, featuring a 5×3 grid, 25 fixed paylines, a maximum win potential of 12,000x, and bonus features.
Solomon Godwin, Head of Africa at Booming Games, said: “We are delighted to be partnering with Hollywoodbets for the Hollywoodbets Durban July again this year, and the launch of the latest game in the Golden Gallop series is the perfect way to celebrate. This year’s event also marks two years since we launched in South Africa, one of the world’s fastest growing and most exciting casino gaming markets.”
Wayde Dorkin, Head of Product at Hollywoodbets, said: “Booming Games is a key partner for Hollywoodbets, and we are pleased to be building on last year’s collaboration at the Hollywoodbets Durban July. In a crowded market, the quality of Booming Games’ offering and customer-focused approach to game development provides the foundations for a long and fruitful partnership, which we hope will remain strong for many years to come.”
The post Booming Games renews Hollywoodbets Durban July activation partnership appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
18Peaches
QTech Games adds 18Peaches slots to its emerging-markets aggregation platform
Deal expands distribution for 18Peaches titles including Hacker Crash Jackpot, Money Tree Jackpot, Wild Yoga and Frozen Fruits.
QTech Games has signed a content deal with slot supplier 18Peaches, adding the studio’s titles to QTech’s game aggregation platform for emerging markets.
The agreement puts 18Peaches content in front of QTech’s operator network across regions including Africa and Latin America, according to the companies. 18Peaches was established in 2022 and releases slot content on a monthly schedule.
Titles referenced in the announcement include Hacker Crash Jackpot, Money Tree Jackpot, Wild Yoga and Frozen Fruits. The supplier said its games are designed for cross-platform play and optimised for mobile.
QTech Games CEO Philip Doftvik said: “We’re committed to rolling out more and more high-class content that drives revenue for our partners. Therefore, this deal with 18Peaches extends our impressive sequential pipeline for 2026 – and we’ve so much more to come! We are on the way to be able to offer over 200 suppliers with a wide range of global and local suppliers. Meaning QTech is the right aggregator regardless of the targeting market.”
Aziz Azkylbekov, CPO at 18Peaches, added: “At 18Peaches, we specialize in being a disruptive provider of slot games, dedicated to delivering innovative and engaging gaming experiences. And we’ve assembled a team of industry veterans and passionate creators, who are perfectly placed to push the boundaries of slot game development.
“As we all know, QTech’s platform is a gateway to global audiences, so we can’t wait to see how our highly engaging games perform across a largely greenfield landscape of emerging markets for 18Peaches. By combining creativity and technology to craft unique, engaging online slots with distinctive graphics and features, we will raise the bar for a premium gaming experience together.”
The post QTech Games adds 18Peaches slots to its emerging-markets aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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