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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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Caesars Entertainment
Vanderpump Hotel reports $813,553 Pai Gow Poker jackpot weeks after opening
Caesars Rewards member Pam W. from Colorado hit a seven-card straight flush on the Las Vegas Strip property.
The Vanderpump Hotel on the Las Vegas Strip has reported an $813,553 jackpot win on Pai Gow Poker, just weeks after the property officially opened.
According to the company, Caesars Rewards member Pam W., visiting from Littleton, Colorado, won the payout after hitting a seven-card straight flush while playing Pai Gow Poker at The Vanderpump Hotel. The release said Pam was on a weeklong vacation with her husband and plans to use the winnings toward a European river cruise.
The Vanderpump Hotel is Lisa Vanderpump’s first hotel, developed in partnership with Caesars Entertainment. The property has 188 guest rooms, including 21 suites, and a 40,000-square-foot casino, the company said.
The venue’s food, beverage and nightlife lineup includes GIADA by Giada De Laurentiis, rooftop pool and event space Soleia, and Drai’s After Hours in its original location beneath the hotel. The property also hosts Caesars Sportsbook in a lounge-style format, alongside lounges including Gigolo and The Bar at The Vanderpump Hotel.
The post Vanderpump Hotel reports $813,553 Pai Gow Poker jackpot weeks after opening appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Caesars Rewards
Raise a Glass: The Vanderpump Hotel Celebrates $813,553 Jackpot Win
The Vanderpump Hotel – Lisa Vanderpump’s first-ever hotel in partnership with Caesars Entertainment – is dealing out big wins on the Las Vegas Strip, celebrating a dazzling $813,553 payout just weeks after officially opening its doors.
Caesars Rewards® member Pam W., visiting from Littleton, Colorado, hit the jackpot with a seven-card straight flush on Pai Gow Poker at The Vanderpump Hotel. Pam, who is in town enjoying a weeklong vacation with her husband, is already planning her next adventure – turning her Vegas luck into a dream European river cruise.
Blending elevated design with a distinct sense of personality, The Vanderpump Hotel introduces a boutique, lifestyle-driven hospitality experience in the heart of one of the world’s most dynamic destinations. The hotel offers an intimate footprint with 188 guest rooms, including 21 suites.
The property also features a 40,000-square-foot casino; Gigolo, a sexy, sultry lounge and The Bar at The Vanderpump Hotel, an inviting destination in the center of the casino – all curated to deliver a sophisticated yet playful atmosphere.
Culinary and nightlife offerings are anchored by GIADA, the award-winning flagship restaurant from celebrity chef Giada De Laurentiis; Soleia, a 65,000-square-foot rooftop pool and event space with open-air, panoramic views from 11 stories above the Las Vegas skyline; and Drai’s After Hours, located in its original home beneath the hotel. Caesars Sportsbook at The Vanderpump Hotel provides a boutique, lounge-style setting for sports fans and gaming enthusiasts alike. Guests can book stays at The Vanderpump Hotel via the Caesars Rewards app or online at caesars.com/thevanderpumphotel.
The post Raise a Glass: The Vanderpump Hotel Celebrates $813,553 Jackpot Win appeared first on Americas iGaming & Sports Betting News.
b2b partnerships
Dynabit Gaming goes live on BetB2B aggregation platform
The supplier says its cross-platform games are now rolling out to operators connected to BetB2B.
Dynabit Gaming has gone live on BetB2B, with the supplier saying its content is already rolling out to operators connected via the platform.
The announcement positions the integration as a distribution step for Dynabit Gaming’s cross-platform games, extending reach through BetB2B’s operator network.
Vika Prudnyk, Chief Commercial Officer at Dynabit Gaming, said: “We’re really happy to be partnering with BETB2B. They bring great energy, strong expertise, and a platform that fits perfectly with where we want to go next.”
No further commercial or technical details were disclosed, including which operators are first to launch, which titles are included, or timelines for broader rollout.
The post Dynabit Gaming goes live on BetB2B aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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