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Gaming Innovation Group reports Q4 2020

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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

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  • 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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Adventure Awaits in Boat Bonanza CrocoNile!

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Play’n GO takes players on an unforgettable expedition to Egypt’s legendary Nile in Boat Bonanza CrocoNile!, filled with thrills, spills, and crocodile chills!

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The post Adventure Awaits in Boat Bonanza CrocoNile! appeared first on European Gaming Industry News.

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WinSpirit Casino Earns AskGamblers Certificate of Trust

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WinSpirit is proud to announce that it has officially received the Certificate of Trust from AskGamblers—one of the most respected accolades an online casino can achieve. This certificate is awarded only to platforms that demonstrate exceptional standards in key areas such as fast payouts, high player ratings, and a strong commitment to responsible gambling. It reflects WinSpirit’s dedication to player satisfaction and further strengthens the brand’s reputation as a trustworthy, high-performing casino.

With this recognition, WinSpirit reaffirms its promise to players: that their funds and personal data are protected, their rights are upheld, and their experience is both fair and rewarding.

“Receiving the Certificate of Trust is not just a badge of honour – it reflects the daily effort we put into building a casino that players and partners can rely on” — says Kate Van Engelen, PR Manager at WinSpirit.

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Mindway AI partners with BetComply to scale safer gambling support

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Mindway AI, the award-winning safer gambling software company, has enlisted the skill set of BetComply, iGaming’s most trusted technical and regulatory compliance firm, as it looks to further develop its product offering and support more operators.

The partnership will see BetComply’s Safer Gambling & Sustainability Specialist Jez White and his team advising Mindway AI on how its solutions can be best incorporated into operators’ safer gambling functions.

BetComply will also provide support on Mindway AI’s product roadmap and new business opportunities, with a focus on GameScanner, an advanced software solution that helps gambling operators boost player protection and intervene early to prevent at-risk gambling behaviour.

BetComply’s Safer Gambling & Sustainability Specialist Jez White said: “Mindway AI is at the cutting edge of safer gambling technology, and we’re excited to support their mission to raise the industry standard. Our goal is to help bridge the gap between innovation and implementation, ensuring operators can fully harness tools like GameScanner to deliver more effective, proactive player protection.”

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Mindway AI’s CEO Rasmus Kjaergaard added: “We’re thrilled to be working with BetComply, where Jez and his team’s vast operational experience will be a huge asset as we continue delivering our award-winning software to more clients. We’re excited about what we can achieve together.”

In March, White joined BetComply as the firm’s first Safer Gambling & Sustainability Specialist, following more than eight years at Entain, where he served as Director of Player Protection Systems and Analytics.

The post Mindway AI partners with BetComply to scale safer gambling support appeared first on European Gaming Industry News.

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