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Gaming Innovation Group reports Q4 2020
Gaming Innovation Group Inc. (GiG) reports Q4 2020 revenues of €17.3 million and an EBITDA of €4.1 million.
Richard Brown, CEO of GiG comments: “2020 has seen some significant milestones accomplished in GiG’s journey to become a leading B2B platform and media supplier in the iGaming industry and the fourth quarter continued to demonstrate the results of actions taken through the year by delivering yearly growth in normalised revenues and EBITDA by 19% and 212% respectively”.
Financial Highlights
- Revenues in Q4 2020 were €17.3m (10.4), up 66% from Q4 2019, all organic growth
- Normalised revenues were €14.2m (10.2), an increase of 38%
- EBITDA in Q4 2020 was €4.1m (0.1), up 4431%, normalised EBITDA margin increased to 29.2% (0.9%)
- For the full year 2020, normalised revenues was €52.2m (43.8) a 19% increase from 2019, with an EBITDA of €10.7m (3.4) a 212% increase from 2019
- Revenues in Media Services improved to €9.0m (7.5) in Q4 2020, an increase of 20%,with an EBITDA of €4.3m (4.0)
- Normalised revenues for Platform Services were €4.9m (4.2), up 19%, with a positive EBITDA of €0.2m (-1.4)
- EBITDA for Sports Betting Services was €-0.3m (-1.8) an improvement of €1.5m, driven by a 78% reduction in operating expenses
- To further expedite revenue generating activities, enhance future growth and strengthen the cash position, a €8.5m subordinated convertible loan was issued in December
Operational Highlights
- The sales pipeline developed positively, and four new agreements were signed for Platform Services in the fourth quarter, adding to a total of 14 in 2020, whereof 4 is casino and sportsbook and 10 casino only
- GiG’s platform went live with two clients in the fourth quarter, and the integration pipeline included 14 brands as of year end 2020
- The strategic decision to remove the white-label business entered final phases and was a driver in the flat revenue QoQ but improved the EBITDA margin
- Media Services experienced positive developments in the quarter, finishing off the year with all-time high revenues in December. Player intake was strong, with FTDs up 36% YoY and 9% QoQ
- Sports Betting Services restructuring completed, placing Sports Betting Services in a sustainable position for growth and strategic partnerships
- Restructuring completed with comparable operating expenses reduced by 25% YoY, the Company now have a sound cost base for operational improvement going forward
Events after Q4
- Signed a long-term platform agreement with Playstar to support their entry into the expanding US iGaming market
- Signed a LOI with an established German facing iGaming operator, for the provision of platform technologies to power their new online casino.
- Awarded ISO 27001:2021 certification for its frontend development solution and content management system
- GiG Media delivered another all-time high in revenues in January corresponding with another all-time-high in FTD’s referred
- One brand went live so far in 2021, with two additional expected in Q1-2021
- January has developed positively and normalised revenues are up 40% compared to the same period last year
Investor presentation and webcast
CEO Richard Brown will present the Q4 2020 results today via livestream at 11:00 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/803325/live-q-gaming-innovation-group-feb-23rd
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Basketball Federation of Ukraine
GGBET UA and FBU Host “Media Slam”: A Landmark Open Media Event for Ukrainian Basketball
In a historic move for Ukrainian sports, the Basketball Federation of Ukraine (FBU) and title sponsor GGBET UA recently hosted Media Slam in Kyiv. This inaugural open media event served as a high-level forum to analyze the regular season results of the GGBET SuperLeague and the recent performances of Ukraine’s men’s and women’s national teams.
Since becoming the league’s title sponsor in January 2026, GGBET UA has prioritized transparency and engagement. The event highlighted a significant milestone: the return of fans to stadiums despite the ongoing challenges of martial law, signaling a resilient recovery for the domestic game.
Highlights and Recognition
The “Media Slam” wasn’t just about statistics; it was a celebration of the sport’s current momentum:
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MVP Honors: The regular season’s top five players were officially recognized for their outstanding contributions.
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Kyiv-Basket Victory: The Ukrainian Cup winners received a formal check in honor of their championship win.
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Market Discussion: Stakeholders engaged in a candid dialogue regarding the increasing competitiveness of the league.
Sergii Mishchenko, CEO of GGBET UA, commented:
“We didn’t get involved in Ukrainian basketball just to have our logo on a banner. This is a systematic approach. We see the increasing interest in basketball and want to be a part of that growth. The tougher the competition, the stronger Ukrainian basketball becomes.”
A Strategic Expansion
Basketball marks a major pillar in GGBET UA’s diversifying sports portfolio. Following high-profile partnerships with FC Dynamo Kyiv, FC Polissya Zhytomyr, and the Usyk vs. Dubois 2 rematch, the brand is now cementing its status as a cornerstone of the Ukrainian basketball ecosystem.
The post GGBET UA and FBU Host “Media Slam”: A Landmark Open Media Event for Ukrainian Basketball appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BiS Awards 2026
EGT and EGT Digital have been honored with the Best VLT Solution prize at the BiS Awards 2026
EGT, in collaboration with EGT Digital, has been distinguished for their joint video lottery product for Brazil at the prestigious BiS Awards 2026, highlighting excellence in the country’s rapidly growing gaming and betting industry. The companies took the accolade in the Best VLT Solution category at an official ceremony held on April 7 in Sao Paulo as part of the BiS SiGMA South America event.
The award comes in recognition of the successful debut of VLT terminals in the regulated state of Paraíba, where they had their first large-scale installation at the beginning of this year, generating strong player interest and demonstrating impressive results ever since.
In addition, EGT’s VLT product has been approved in a Proof of Concept (PoC) process under the Rio de Janeiro State Lottery, and will soon be available to the gaming audience in this state as well.
The omnichannel solution, delivered jointly by EGT and EGT Digital, provides a complete Video Lottery Terminal (VLT) ecosystem, featuring land-based equipment, a technological platform, and a rich library of gaming content. Developed according to the international standards, it has been adapted to meet the specific requirements of the Brazilian market and its regulatory framework.
Celina Guedes, Regional Director Brazil at EGT, commented: “It is an honor to us to be acknowledged by the BiS Awards competition, which is a benchmark for outstanding achievements in the sector. Our complete omnichannel VLT solution is designed to perform across different industry segments and is about to unleash its enormous potential in the near future. The prize is proof that we are able to fulfil the ever-increasing demands placed on providers and even set new higher standards in the extremely competitive gaming ecosystem in Brazil and the Latin American region as a whole.”
The post EGT and EGT Digital have been honored with the Best VLT Solution prize at the BiS Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
8bit Binks
S8UL Esports Triumphs in VCSA 2026 Split 1: A Grand Final Masterclass
In a heart-pounding display of tactical precision and mental fortitude, S8UL Esports has been crowned the VALORANT Challengers South Asia (VCSA) 2026 Split 1 Champions. The victory came after an intense five-map Grand Final against Revenant Xspark, where S8UL emerged victorious with a 3-2 scoreline, solidifying their dominance in the regional VCT ecosystem.
With this win, S8UL takes home the lion’s share of the prize pool—INR ₹9,00,000—and sets a high benchmark for the remainder of the 2026 season.
The Road to the Trophy
S8UL’s journey through Split 1 was a testament to their growth following the 2025 season. Their path to the podium included:
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League Phase Dominance: Consistent performance against seven of South Asia’s elite teams.
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Semifinal Sweep: A commanding 2-0 victory over Asterisk, showcasing a roster peaking at the perfect moment.
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The 5-Map Thriller: A back-and-forth Grand Final against Revenant Xspark that tested the limits of both skill and composure.
Strategic Growth and Leadership
The victory highlights the successful vision of Mithul “8bit Binks” Nayak, the driving force behind this revamped roster. Under the leadership of veteran captain Ganesh “SkRossi” Gangadhar, the team displayed evolved coordination and the ability to clutch out decisive rounds under immense pressure.
“Winning Split 1 gives us confidence, but we know the season is long,” said SkRossi. “I’m proud of how the team stayed focused in the crucial moments.”
Impact on the VCT Ecosystem
VCSA Split 1 serves as the critical pathway for South Asian teams to climb into the VALORANT Champions Tour (VCT). By securing the first title of the year, S8UL not only establishes themselves as the team to beat but also positions themselves favorably for international qualification opportunities in Split 2 and beyond.
Animesh ‘Thug’ Agarwal, Co-Founder and CEO of S8UL, noted: “The team showed incredible composure in a high-pressure final. This result is a testament to the work they’ve been putting in behind the scenes. We’ve always believed in this roster.”
The post S8UL Esports Triumphs in VCSA 2026 Split 1: A Grand Final Masterclass appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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