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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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Anthony Dalla-Giacoma Chief Commercial Officer at Swintt
Swintt adds Fresh Fruits Deluxe Diamonds to SwinttPremium slot line
The five-reel, 50-payline release includes a coin respin feature and four-tier jackpot coins for potential wins up to 6,000x.
Swintt has launched Fresh Fruits Deluxe Diamonds, a new fruit-themed slot in its SwinttPremium lineup, featuring a five-reel setup with 50 paylines and a coin-driven bonus mechanic.
The title combines classic slot symbols including BARs, crowns and red sevens with a coin feature that triggers when six or more coin symbols land during the base game. In the bonus round, players receive three respins on a new reel set populated only by coin symbols, with additional coins resetting the respin counter. Payouts are based on the total value collected when respins end or when the grid fills.
Swintt said regular coin values reach up to 30x the bet, while special jackpot coins can award the MINOR, MAJOR, MAXI and MEGA jackpots. If all 15 reel spaces fill, the game doubles the value of every coin except the two MAXI and MEGA jackpots.
The slot also includes a Mystery Bonus that activates when three gem scatter symbols land on reels 1, 3 and 5. Swintt said the Mystery Bonus can award one of the four jackpots immediately or add enough coin symbols to trigger the coin feature.
Anthony Dalla-Giacoma, Chief Commercial Officer at Swintt, said: “Fruit-themed slots have always been a core part of our SwinttPremium catalogue, and in Fresh Fruits Deluxe Diamonds, we’ve created a fresh twist on the genre that will appeal to retro slot fans and new players alike. Packed with exciting features that can award huge jackpot prizes, the slot offers the perfect mix of nostalgia and modern gameplay, making it a mouthwatering addition to any operator’s line-up.”
The post Swintt adds Fresh Fruits Deluxe Diamonds to SwinttPremium slot line appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Avanti
Movers and Shakers – Attack Of The Clones
“Movers and Shakers” is a dynamic monthly column dedicated to exploring the latest trends, developments, and influential voices in the iGaming industry. Powered by GameOn and supported by HIPTHER, this op-ed series delves into the key players, emerging technologies, and regulatory changes shaping the future of online gaming. Each month, industry experts offer their insights and perspectives, providing readers with in-depth analysis and thought-provoking commentary on what’s driving the iGaming world forward. Whether you’re a seasoned professional or new to the scene, “Movers and Shakers” is your go-to source for staying ahead in the rapidly evolving iGaming landscape.
With the Live Casino landscape continuing to evolve in new and technologically exciting ways, Avanti Studios’ Jonas Delin explains how the use of digital clones is helping a traditionally costly vertical remove its adoption barriers and supply a much more scalable experience for operators
As a multi-billion dollar industry, Live Casino has long been one of the most prized product categories in online gambling. Built on a simple proposition of delivering the trust and spectacle of authentic, dealer-dealt games through the small screen, it’s one of the few verticals that can recreate the thrill of a bricks-and-mortar casino experience in an online environment – but until now, offering such engaging entertainment to players has come at a high price point for operators.
With recent advances in AI and MetaHuman technologies, however, this is starting to change. The movement to replicate real dealers using sophisticated digital clones or replace them entirely with real-time avatars and large language models is gathering pace; and while there are certainly arguments to be made for the benefits of both approaches, Avanti sits firmly in the former camp. In this article, I’ll look to explain why and outline the benefits that our unique approach can bring.
The Suspension Of Disbelief
For Avanti, choosing to work with clones rather than avatars was an easy decision. In our opinion, the moment a player perceives something to be artificial or uncanny, the trust relationship that makes Live Casino so valuable in the first place begins to erode. As such, in order for them to become fully invested in your product, all dealers need to be ultra realistic and completely human-looking. AI-built dealers aren’t quite there yet, but, by their very nature, digital clones are.
In our sophisticated motion capture studio, we record the performance and mannerisms of professionally-trained dealers and use this as the basis for our clones. Brought to life using Unreal Engine and the MetaHuman toolset, they’re then streamed directly into games, providing an experience that’s virtually indistinguishable from the real thing. Cards are also dealt in real time rather than being simulated, with every outcome being shared and dictated by provably fair RNG.
This second point is particularly key to the structural integrity of the live format itself. Real-time dealing – where multiple players make independent decisions against a shared dealer hand – is something that’s not easily replicated by a pre-rendered character, and this constraint currently puts a meaningful ceiling on what pure AI can deliver. At Avanti, there are no such concerns about our approach, helping us provide an authentic experience that all players can truly participate in.
Lower Costs, More Flexibility
Among those in the pro-AI camp, I’ve seen it posited that one of the biggest advantages of using this technology is that it substantially reduces traditional Live Casino costs for operators. While it’s certainly true having generated dealers eliminates set-up fees, removes the need for fixed-term contracts and reduces ongoing overheads, I’d argue Avanti’s approach is equally capable of delivering these competitive benefits without having to compromise on realism or visual fidelity.
Just like AI providers, we also offer a revenue share-only model; and the fact that we use a motion capture studio to create our clones doesn’t have any bearing on the that price operators pay. As opening one table costs just the same as opening 100, we provide an infinite level of scalability that comes with no studio rental, no staffing and no risk of sick days – and the fact that dealer language can be localised at the flick of a switch makes it easy for operators to enter new markets.
In a country like Brazil where Portuguese localisation will be legally mandated, this obviously provides a significant competitive advantage. Rather than scrambling to recruit Portuguese-speaking dealers at pace, we can simply change both the language and appearance of our existing clones to suit local requirements. We can also give operators the scope to open tables at any limits they require, creating a flexible product that can easily adapt to any market conditions.
With Avanti’s games providing the same benefits as their AI-generated counterparts in terms of software economics and scalability, there’s no doubt in my mind that the use of digital clones will have a big role to play in shaping the future of Live Casino. By removing the adoption barriers for operators and giving players a reliable and authentic experience they can trust, our unique approach offers the best of both worlds, helping make the vertical more accessible for everyone.
The post Movers and Shakers – Attack Of The Clones appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
content distribution
Gaming Corps launches on Casino777.es in Spain
Gaming Corps has launched its casino content with Casino777.es in Spain. The operator is run by Digital Distribution Management Ibérica, S.A. and has been live in the market since 2015.
The rollout includes Instant Blitz, Gaming Corps’ new scratchcard-style title and the first release in its Super Scratch series. The company said the game features a Prize Pot mechanic alongside expanding rows, bonus triggers and multipliers.
Also going live are 3 Pigs of Olympus and Gates of Hellfire. Gaming Corps positions 3 Pigs of Olympus as a franchise entry, while Gates of Hellfire is billed as a high-volatility, grid-based slot.
Casino777.es operates under licences granted by Spain’s Dirección General de Ordenación del Juego, and its wider online gaming offer includes sports betting via sister brand Bet777.es.
Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “Spain is a market where operators need content that can cut through quickly, not just visually, but in how it plays. Casino777.es has a clear sense of where it wants to go as a brand, and this partnership is a strong reflection of that. We are pleased to be working with a team that is focused on building a high-quality destination for players.”
Alexander Stoeckl, Market Lead at Casino777.es said: “This dual launch reflects the direction we are continuing to take as a brand. Our ambition is to be recognised as a benchmark for online gaming in Spain, and that means building a platform that combines quality, variety and strong entertainment value. Gaming Corps brings a fresh energy to the casino, from the immediate appeal of Instant Blitz through to more immersive styles of play, and we are very pleased to add that mix to our offering.”
The post Gaming Corps launches on Casino777.es in Spain appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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