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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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Africa
Playson goes live with Betika in Kenya and Uganda
The supplier enters Kenya via Betika, with the rollout deployed through the Casimba (Markor) aggregation platform.
Playson has entered the Kenyan market after going live with Betika, making its online casino content available to players in Kenya and Uganda.
The rollout includes Playson titles Thunder Coins: Hold and Win, 4 Pots Riches: Hold and Win, and Coin Strike: Hold and Win. The integration was delivered via the Casimba (Markor) aggregation platform, according to the companies.
Conor Jenner, Senior Sales Manager at Playson, said: “Entering the Kenyan market is a major milestone for Playson, and doing so alongside a leading operator like Betika makes this step even more impactful. Betika’s strong market presence and deep understanding of its players provide an excellent foundation for our content to perform from day one.
We have carefully adapted our infrastructure to meet local regulatory standards and operator requirements, ensuring a smooth rollout and high-quality player experience. We are excited about the opportunities this market presents and look forward to expanding our presence across Africa.”
Peter Stagles, Group Chief Product Officer at Betika, added: “We are pleased to partner with Playson and bring their globally recognised portfolio to our players in Kenya and Uganda. At Betika, we are continuously enhancing our offering by working with best-in-class partners to deliver engaging, high-quality entertainment experiences tailored to our markets.”
The post Playson goes live with Betika in Kenya and Uganda appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Belgium
Stakelogic integrates casino and live titles with Casino Elite in Belgium
Deal adds Dice Slots, Auto Roulette and the Super Wheel
Game Show to the Belgian operator’s online platform.
Stakelogic has signed a content partnership with Casino Elite in Belgium, with the supplier’s games now available to the operator via a direct integration.
Under the agreement, Casino Elite will roll out a tailored selection of Stakelogic content, including Dice Slots titles Abra-Ca-Dice, Dice Fortune and Dice on Fire, plus Auto Roulette. The package also includes live entertainment game shows such as the Super Wheel
Game Show, featuring five bonus rounds including Vegas Drops and Risky 100.
Casino Elite opened a gaming hall in Quiévrain in early 2024 and launched its online platform later that year. The operator said its roots trace back to The Flamingo, which it said established the first licensed gaming hall in Jurbise, and that its online platform hosts more than 700 games.
Jolene Magri, Account Manager at Stakelogic, said: “This partnership is a strong example of the range we can bring to operators today. Casino Elite wanted a rollout that felt dynamic and differentiated, and this mix delivers just that. It gives the brand a broader content proposition with plenty of variety for players; while also reflecting the flexibility we can bring to different markets and operator strategies.”
Pierre Decourt, Marketing Director at Casino Elite added: “Our focus is on creating an experience that feels modern, accessible and varied, while still staying true to the roots of gaming in Belgium. The rollout with Stakelogic is a strong fit for that vision, bringing players a broad mix of distinctive formats, from dice-led titles through to casino and live game show entertainment.”
The post Stakelogic integrates casino and live titles with Casino Elite in Belgium appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Amigo Gaming
VeliGames adds 10 studios as content library tops 35,000 games
VeliTech’s aggregator names Amigo Gaming, Playnetic, FA CHAI Gaming and GameBeat among new partners.
VeliGames, the aggregation platform from VeliTech, has expanded its supplier roster with 10 additional content studios, the company said on 14 April 2026. The aggregator now offers “35,000+” games from “160+” suppliers via its Single API.
New providers now available through VeliGames are Amigo Gaming, Playnetic, FA CHAI Gaming, GameBeat, Ready Play Gaming, Slot Mart, Dynabit Gaming, EEAI, IMK 365 and Triple Cherry. VeliGames also distributes its exclusive in-house studios VeliPlay (crash and instant games) and Heaven of 7 (slots).
The company said the expansion is aimed at helping operators diversify and localise their game lobbies for emerging markets through a single integration. VeliGames said its catalogue spans slots, live casino, scratch cards, table and crash games, with tailoring for Asia, Africa and Latin America, including “regionally adjusted pricing” and back-office capabilities.
Irakli Kakhidze, CEO at VeliGames, said: “Our technology is shaped by real-world operator needs, and that’s why VeliGames is a plug-and-play solution that allows operators to access more than 35,000 titles from 160+ providers, plus market-ready customisation, and robust engagement and reporting tools.
“VeliGames has established itself as a partner that understands the business of gaming, not just the code, and these integrations are a testament to that.
“The Single API approach only delivers real value when it is built on battle-tested technology. That has made VeliGames the go-to choice for operators in high-growth markets across the world.”
Revaz Janelidze, Operations Lead at VeliGames, added: “At VeliGames, we live and breathe content, and that’s why we pull out all the stops to constantly bring remarkable providers to our platform.
“These are studios that are pushing boundaries to deliver never seen before themes, mechanics, bonuses and formats, and in doing so are tearing up the rulebook for iGaming content.
“We look forward to seeing our clients strengthen their casino lobbies with the likes of Amigo Gaming, Playnetic and others, while we’re already hard at work on the next round of integrations, so watch this space.”
The post VeliGames adds 10 studios as content library tops 35,000 games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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