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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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Expanse Studios
Expanse Studios Launches Super Heli Premium Across Core Markets
Expanse Studios, a subsidiary of Golden Matrix Group Inc., has launched Super Heli Premium, an expanded version of its flagship crash game now live across core markets.
Super Heli Premium introduces four new gameplay mechanics designed to broaden player appeal and increase session engagement. The additions address operator demand for content that retains players without requiring promotional spend.
New Game Modes
Over/Under allows players to predict whether the crash multiplier will land above or below a set threshold, with maximum bet multipliers up to 24x. The mode rewards pattern recognition and adds a prediction layer to the base crash mechanic.
Range betting requires players to predict the multiplier range where the helicopter’s flight will end. Wider ranges offer lower payouts with reduced risk. Narrower ranges increase volatility and potential returns. The mechanic gives conservative and aggressive players different optimal strategies within the same game.
50% Cash-Out enables partial exits during active rounds. Players can secure half their stake at any multiplier while keeping the remaining half in play. The feature reduces all-or-nothing pressure and extends average session length.
Auto Play and Auto Cash-Out provide preset betting parameters for players who prefer hands-off gameplay across multiple rounds.
Regional Customisation
Operators can deploy market-specific visual themes (US, Greece, Egypt, Brazil, Japan) without changing core mechanics or RTP. The customisation supports localised marketing campaigns and cultural preferences across different jurisdictions.
The game maintains a 97% RTP across all modes and themes, matching the original Super Heli’s player return rate while adding strategic depth through the new mechanics.
Market Context
The original Super Heli became one of the most requested titles in European iGaming within months of launch, with operators reporting session lengths above industry averages and retention metrics “materially better than category norms”.
Super Heli Premium positions the title as a platform rather than a single game variant. Operators can configure volatility, bet limits and visual themes to match specific player demographics without requiring separate game integrations.
Expanse Studios currently operates across 1300+ B2B partnerships globally, with over 300 new operators added in Q3 2025 alone. Super Heli Premium expands the studio’s portfolio to 66 proprietary titles, all 100% owned IP with no licensing dependencies.
The game is now live across Expanse’s operator network in core markets globally.
The post Expanse Studios Launches Super Heli Premium Across Core Markets appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
Digitain Secures Isle of Man iGaming Software Supplier Licence
Digitain has successfully secured an Isle of Man software supplier license.
This reflects the value Digitain has placed on stable institutions, credible oversight and long-term regulatory certainty — evidencing a clear signal that the Island remains a tier-one jurisdiction for serious, long-term gaming technology businesses.
Granted by the Isle of Man Gambling Supervision Commission (GSC), with Cavendish Trust and Digital Isle of Man supporting Digitain throughout the process, the licence further deepens the Island’s regulated supplier base and reinforces the Isle of Man’s proposition: a mature, well-regulated jurisdiction with a collaborative, high-standards approach to doing business.
Digitain is a leading global supplier of sportsbook and gaming technology to operators across multiple regulated markets, supporting both online and retail betting. With more than two decades of industry experience, the company is recognised for its scale, technical capability and enterprise-grade approach — making its decision to secure an Isle of Man licence a strong endorsement of the Island’s regulatory credibility and long-term stability.
Tim Johnston MHK, Minister for Enterprise, said: “Digitain is a significant player in the global iGaming industry, and its decision to secure an Isle of Man licence is a strong vote of confidence in the Island’s regulatory credibility and long-term stability. It demonstrates that the Isle of Man continues to attract serious, enterprise-scale technology providers who value high standards and regulatory certainty. We remain committed to supporting a future-focused iGaming sector that delivers sustainable, long-term economic value for the Isle of Man.”
With more than 20 years as a leading iGaming jurisdiction, the Isle of Man is recognised for proportionate, risk-based regulation, political and economic stability, and strong cooperation between Government, the GSC and industry — a combination that continues to attract high-quality businesses seeking a trusted base for regulated growth.
Shaun Corris, Director at Cavendish Trust, said: “We would like to congratulate Digitain on securing its Isle of Man licence. Supporting Digitain through the licensing process highlighted both the strength of the business and the calibre of the jurisdiction. Digitain’s decision to secure an Isle of Man licence reflects the Island’s continued appeal to established, international iGaming technology providers seeking long-term credibility and stability.”
Aida Vardanyan, Director within the Digitain group said: “The Isle of Man represents one of the most credible and mature iGaming jurisdictions globally and working under the oversight of the Isle of Man Gambling Supervision Commission has reinforced our confidence in the Island as a long-term base for our regulated operations.”
“The licensing process of Digitain’s Isle of Man entity, Blue Whale Limited, was rigorous, transparent, and constructive, reflecting the depth of regulatory expertise and institutional stability that the Isle of Man is known for. Cavendish Trust played a central role in this journey, providing exceptional guidance, regulatory insight, and operational support throughout the process. Their experience, professionalism, and deep understanding of both the jurisdiction and the global iGaming landscape were instrumental in achieving this milestone, and we look forward to continuing our partnership as we grow our regulated business from the Isle of Man.”
The post Digitain Secures Isle of Man iGaming Software Supplier Licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
FDJ UNITED
FDJ UNITED Aims to be Among the Top Three Licensed Gambling Operators in Finland
As Finland prepares to transition to a licensed gambling market in July 2027, FDJ UNITED has set out its ambition to become a leading, long-term participant in the market – combining scale, responsibility and meaningful local engagement.
In a recent interview, Joel Häkämies, Head of FDJ UNITED’s operations in Finland and Estonia, outlined how the Group is preparing for the opening of the Finnish market and the principles that will guide its approach.
Building a top-three position – responsibly
FDJ UNITED’s ambition is clear: to be among the top three licensed gambling operators in Finland over time.
With more than €1 billion currently spent annually on online gambling in Finland, the move to a licensing system is expected to significantly reshape the market. Häkämies is clear that this is a long-term objective, given the importance of the new regulatory system being closely linked to strong regulatory oversight.
“The most important factor for how the market develops will be the actions of the authorities,” Häkämies notes, highlighting the role of regulation in ensuring a sustainable and well-controlled market.
A licensing system that strengthens player protection
While increased competition will inevitably bring greater visibility and marketing, FDJ UNITED believes that a licensed framework creates the right conditions to address gambling-related harm more effectively than the current system.
The Finnish licensing model will bring gambling activity into a more controlled environment, with clearer responsibility requirements and enforceable standards. FDJ UNITED has committed to reducing the share of revenue generated by high-risk players and to embedding player protection at the heart of its operations from day one.
This approach reflects the Group’s wider strategy across regulated markets, where growth and responsibility are treated as inseparable.
One of the most significant changes expected from market liberalisation is increased investment in sponsorship, particularly in sport.
According to Häkämies, FDJ UNITED expects a meaningful rise in annual sponsorship funding once the market opens, with sponsorship viewed as one of the most permissible and socially constructive forms of marketing under the Finnish Gambling Act.
Rather than short-term visibility, the focus is on long-term partnerships that support clubs, athletes and communities.
“A sponsor becomes part of a wider story. In many cases, fans and supporters are more closely connected to clubs and athletes than to leagues themselves,” Häkämies explains.
FDJ UNITED’s experience across multiple European markets has shown that well-structured, professional sponsorship can deliver sustainable benefits well beyond sport alone, extending into culture, events and wider community initiatives.
A local presence, backed by international scale
While FDJ UNITED operates globally with approximately 5000 employees across 10 countries, the Group is committed to establishing a local presence in Finland, including an office in Helsinki.
The Finnish operation will be supported by FDJ UNITED’s broader multi-market expertise, enabling efficient operations while ensuring decisions remain rooted in local knowledge and context
Unibet will be among the brands entering Finland, with further brand decisions to be confirmed closer to launch.
The post FDJ UNITED Aims to be Among the Top Three Licensed Gambling Operators in Finland appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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