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Gaming Innovation Group reports Q3 2020

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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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ELA Games

ELA Games releases Spirit of Savanna slot with player-choice bonus

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The new 5×3, 10-payline title features Hold and Win or Free Spins selection and three jackpot tiers.

ELA Games has released Spirit of Savanna, a new online slot that introduces a player-choice bonus mechanic alongside Hold and Win, Free Spins, and three jackpot tiers.

Spirit of Savanna runs on a 5×3 reel grid with 10 paylines and is rated volatility 4 out of 5, according to the supplier. RTP is listed across two ranges: 93.98-94.16% and 96.01-96.12%.

The main differentiator is how a Wild symbol contributes to a winning combination. Instead of triggering a fixed feature, the game prompts players to choose between seven Free Spins or a Hold and Win bonus.

Both bonus paths include a Repeat Win feature that carries the value of the triggering win into each spin of the bonus round. The Free Spins feature can also retrigger using the same Wild-combination logic. The game includes three jackpot tiers, with the Grand Jackpot available either by landing two Antelopes or by filling an entire row with coins during Hold and Win.

The post ELA Games releases Spirit of Savanna slot with player-choice bonus appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Games Global

Games Global launches Candy Combo 2 Power Combo with Slingshot Studios

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Games Global has released Candy Combo 2 Power Combo™, developed with exclusive studio partner Slingshot Studios. The new slot follows the original Candy Combo Power Combo™ and expands the title’s Link&Win™ gameplay and Power Combo™ mechanics.

The 5×3, 20-payline game is set in a pastel candy theme and uses five “candy jar” characters above the reels to collect matching symbols and trigger Link&Win™ modifiers. The Power Combo™ flow activates a Link&Win™ bonus played on a 5×4 grid, where cash coins remain in place as new symbols land.

Returning mechanics include Connector symbols with multipliers of up to 10x for completed rows, Collector symbols that gather visible cash values, and Jackpot symbols that award fixed prizes when four matching symbols are collected.

New features include Adder, which adds values to all other landed symbols, and Extender, which unlocks a second independent reel set to extend the Link&Win™ round. Games Global said up to five features can be active within a single Link&Win™ round, culminating in Super Power Combo™, where all features are active at once. The game also includes Hot Mode™, which adds extra feature symbols to the reels, and Upsizer™, which offers an option to enhance the Link&Win™ feature at a cost before the bonus begins.

Richard Vermaak, Creative Director at Slingshot Studios, said: “Candy Combo 2 Power Combo™ builds on its predecessor – one of our most successful titles – by expanding how features interact within the Link&Win™ format.

“The addition of new jars and the ability to combine multiple mechanics introduces more variation across each round, while staying true to the core gameplay players recognise.”

David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “Slingshot Studios has done a brilliantly at evolving a well-established concept by adding depth and flexibility to its feature set.

“The result is a bright, engaging title that enhances a proven mechanic while offering players more ways to experience its core gameplay.”

The post Games Global launches Candy Combo 2 Power Combo with Slingshot Studios appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Acquisitions/Merger

LCKY Group agrees to acquire Denmark iGaming operator RoyalCasino

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LCKY Group has entered into an agreement to acquire RoyalCasino, an iGaming operator focused exclusively on Denmark. The companies said the transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.

LCKY Group said the deal will expand its footprint in Denmark and increase exposure to what it described as “sustainable revenue streams in a well-regulated and stable jurisdiction.” The company also said the acquisition supports its multi-brand strategy in the Danish market.

LCKY Group expects the transaction to be immediately accretive, estimating an 18–20% increase in group revenue and a 29–31% increase in EBITDA.

Richard Brown, CEO of LCKY Group, said: “This is a highly strategic and financially compelling acquisition for LCKY Group. RoyalCasino brings both strong market presence and high-quality earnings in Denmark, a market that aligns closely with our focus on regulated, sustainable growth. The transaction enhances our scale, strengthens our competitive position, and provides clear opportunities to drive synergies and long-term value creation. We look forward to working closely with the RoyalCasino team to realize these opportunities.”

Per Petersen, CEO of RoyalCasino, said: “RoyalCasino is one of the largest online casino operators in Denmark, a market known as both well-regulated and high-value. Our industry is characterised by high levels of innovation and competition, and here we see the combination of RoyalCasino’s local expertise and LCKY’s international scale and iGaming pedigree as an excellent recipe for shared success. We look forward to introducing LCKY to our Danish customer base.” Partis acted as financial advisors to RoyalCasino on the transaction.

The post LCKY Group agrees to acquire Denmark iGaming operator RoyalCasino appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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