Connect with us

Latest News

Gaming Innovation Group reports Q3 2020

Published

on

Reading Time: 2 minutes

 

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

Powered by WPeMatico

Continue Reading
Advertisement

Latest News

Highlight Games’ platform clears Italy’s ADM collaudo certification

Published

on

highlight-games’-platform-clears-italy’s-adm-collaudo-certification

Company plans to roll out SOCCERBET with LALIGA archive footage on its own platform in Italian retail after the World Cup.

Highlight Games Limited said its proprietary platform has passed Italy’s ADM collaudo process, the technical certification required for gaming platforms. The company announced the approval on 14 July 2026 from London.

Following the conclusion of the World Cup, Highlight said it will launch its Spanish SOCCERBET product featuring archive LALIGA footage on its own platform across Italian retail channels. The company added that operators will transfer to Highlight’s platform over the months that follow.

The supplier said the certification allows it to deliver its content via its own “zero-cost streaming technology” in Italy and gives it control over its product roadmap in what it called its most important market.

Steven Holmes, CEO, Highlight Games said: ‘This is a huge moment for Highlight as we bring our video-based technology stack to the Italian market and join a select few who are able to offer an officially ADM certified platform. Italy is where SOCCERBET has proven itself time and again and passing the ADM collaudo means we can now deliver that content on our own platform, with our zero-cost streaming solution, exactly as it was designed to be experienced.

‘Owning the technology end to end means we control our own roadmap, resulting in faster launches, smoother integrations for our operator partners and a richer experience for players. Our products consistently perform at the top of the market wherever they are live, and with our platform now officially certified in Italy, we have everything in place to build on that momentum.’

 

The post Highlight Games’ platform clears Italy’s ADM collaudo certification appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Latest News

PokerStars puts $800,000 in Sunday Million Anniversary tickets into Ticket Machine

Published

on

pokerstars-puts-$800,000-in-sunday-million-anniversary-tickets-into-ticket-machine

The 10-week phased event runs Daily Heats through September 6, with raffles awarding more than $100,000 in $109 tickets each week.

PokerStars is allocating more than $800,000 worth of $109 Daily Heat (Phase 1) tickets through its “Ticket Machine” promotion ahead of the Sunday Million 20th Anniversary Finals (Phase 2) on Sunday, September 6.

The Sunday Million 20th Anniversary is being run as a 10-week phased tournament, with Daily Heats running now through September 6. Players who advance from a $109 Daily Heat carry their stack into the Finals, with PokerStars noting that only one stack may be carried through to Phase 2.

To enter the Ticket Machine, players must opt in to the “Ticket Machine” ICE Challenge and complete weekly poker challenges. Each completed challenge adds entries to a Saturday raffle, with PokerStars saying more than $100,000 in $109 Daily Heat tickets will be awarded each week. Players can complete each challenge up to four times, for a maximum of 24 raffle entries per week.

PokerStars said that, after the first two weeks of Daily Heats, 270 players from more than 40 countries have already qualified for the Finals, including 50 who qualified into Phase 1 via satellites. Brazil and Ukraine lead the qualifiers list with 33 players each, according to the operator.

The operator has set a $5 million guarantee for the Sunday Million 20th Anniversary. Additional qualification routes include satellites starting at $0.55, special edition Spin & Go’s from $0.75, and “Wildcard Wins”, described by PokerStars as a new leaderboard promotion running until July 19. PokerStars also said players redeeming a $530 Bronze Pass will receive “25% extra value in the bundle” for a limited time, including an additional $109 Sunday Million 20th Anniversary ticket and $23.50 in tournament tickets.

 

The post PokerStars puts $800,000 in Sunday Million Anniversary tickets into Ticket Machine appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

casino

CreedRoomz signs Ronaldinho to front new Kickoff Roulette live game show

Published

on

creedroomz-signs-ronaldinho-to-front-new-kickoff-roulette-live-game-show

Kickoff Roulette Ronaldinho launches with a Gold Number mechanic and English/Portuguese language support.

CreedRoomz has named former football star Ronaldinho as brand ambassador for its new live casino game show, Kickoff Roulette Ronaldinho. The supplier said the title is now available for integration by B2B partners.

The company positions the product as a roulette-led live game show built around a football theme, running from a virtual studio. According to CreedRoomz, the game includes a “Gold Number Mechanic” where randomized lucky numbers can add multipliers from x50 to x700.

When asked about the crossover between football and casino entertainment, Ronaldinho said: “The fact that football is a global passion also helps, so I believe everyone will like “Kickoff Roulette Ronaldinho” for that reason.. and for the innovation of everything that is happening.”

CreedRoomz said the game is available in English and Portuguese, framing Portuguese language support as relevant for operators targeting Brazil and other Portuguese-speaking audiences. Armen Mnaskanian, Head of Sales Department at Creedroomz, said: “Bringing Ronaldinho into the CreedRoomz family represents a massive leap forward for live casino entertainment. Football and iGaming both thrive on passion and excitement. By fusing Ronaldinho’s legendary star power with powerhouse monetization mechanics, we are giving our partners the ultimate competitive edge and a next-generation casino offering.”

 

The post CreedRoomz signs Ronaldinho to front new Kickoff Roulette live game show appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania