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Gaming Innovation Group reports Q2 2021
Gaming Innovation Group Inc. (GiG) reports Q2 2021 revenues* of €16.2 million and an EBITDA of €5.3 million.
“Another rewarding quarter for GiG, with meaningful growth in revenues, EBITDA and EBIT as well as underlying business dynamics. The Company is progressing towards our business growth & expansion strategies, improving delivery and future position of the group”, says Richard Brown, CEO of GiG.
Financial Highlights
- Revenues* in Q2 2021 were €16.2m (13.2), an increase of 23%, all organic growth
- EBITDA was €5.3m (2.8), up 86%, EBITDA margin* increased to 32.6% (21.6%)
- Revenues in Media Services at all-time high of €11.0m (8.6), an increase of 28%, with an all-time-high EBITDA of €5.3m (4.8)
- Revenues* for Platform Services were €5.1m (4.7), an increase of 9%, with a positive EBITDA of €0.2m (-0.9)
- Positive EBIT of €2.1m (-2.2), an improvement of €4.3m
- Positive cash flow from operations of €3.4m (10.1)
- Strengthening of the balance sheet through conversion of €8.5m convertible loan and refinancing of bond, maturity extended to June 2024
Operational Highlights
- Signed an agreement for the provision of GiG’s iGaming platform to power a new online casino for the European market, operating on its own license
- Signed an agreement with current partner PlayStar Casino, for the provision of GiG’s iGaming platform technologies to power the brand’s expansion into the state of Pennsylvania
- One new brand was launched in Q2 and the development for three additional brands are now complete, whereof one went live on the platform in August with the remaining pending the clients’ decision to launch, expected in Q3 2021
- Media Services continued its positive development in the quarter, with all-time high revenues and player intake
- Entered three new markets in Media and three in Platform
- Sports Betting Services continued to improve operations, securing a sound cost base for future growth
- Winner of Full Service Platform of the year at EGR iGaming awards and Top 3 in EGR Power Affiliates 2021
Events after Q2
- One brand went live in August, two additional brands are development complete and ready to go live, and the remaining integration pipeline are progressing towards their project plans
- July has developed positively, and revenues are up 10% compared to the same period last year, and adjusted for terminated white-labels and Germany, revenues are up 26%
*Revenues are adjusted for revenues from a platform client where GiG recognizes the full operations in its profit and loss statement, which are partly offset by related cost of sales and site overheads. Cost of sales, marketing expenses and EBITDA-margin are adjusted accordingly. See Note 2 in the Q2-2021 Interim Report for more details.
Investor presentation and webcast
CEO Richard Brown will present the Q2 2021 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/816681/live-q-gaming-innovation-group
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Compliance Updates
EvenBet Gaming obtains Danish B2B supplier licence
EvenBet Gaming, a leading developer of online poker and casino software, has secured a five-year B2B supplier licence from the Danish Gambling Authority (Spillemyndigheden), further strengthening its position across Europe’s most established jurisdictions.
The strategic move into the Danish market aligns with EvenBet’s mission to provide its global client base with seamless access to high-potential regulated jurisdictions. By securing this licence, the company enhances its ability to support both new and existing operators in diversifying their market reach through scalable, fully compliant gaming solutions.
The licence covers a comprehensive portfolio of products, including EvenBet’s industry-leading poker software, turnkey online casino platform, and extensive content catalogue comprising roulette, baccarat, blackjack, punto banco, bingo and slots.
The approval follows a rigorous assessment process covering RNG certification, platform security, and business procedures, reinforcing EvenBet’s ongoing commitment to compliance, integrity and player protection.
With the Danish iGaming market generating approximately DKK 11 billion (€1.47 billion) in gross gaming revenue during 2024, the licence represents a significant commercial opportunity for operators seeking long-term growth within a stable and highly profitable market.
By partnering with EvenBet, operators benefit from a streamlined route to regulated markets and gain access to the company’s world-class poker infrastructure and comprehensive casino suite. This enables them to diversify their offerings and engage high-value player segments within a secure and fully compliant framework.
Dmitry Starostenkov, CEO at EvenBet Gaming, said: “Securing our Danish B2B licence is another important milestone in EvenBet’s long-term strategy. Denmark has established itself as one of the most mature and well-regulated gaming markets in Europe, making it an extremely attractive jurisdiction for both suppliers and operators.
“This approval not only reflects the strength and reliability of our technology, but also allows us to support our existing and future partners with fully compliant access to a highly valuable market.”
The post EvenBet Gaming obtains Danish B2B supplier licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Alex Pratt
Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming
Online, on-demand course targets CMOs and senior marketers, with WorldGaming signed as exclusive media partner.
Edge Marketing Institute has launched in the gaming sector with its flagship programme, G.A.M.E (Gaming Advancement in Marketing Excellence), positioned by the company as a dedicated marketing leadership course for B2B gaming.
The company said the programme is designed to help senior marketers develop commercial leadership skills as businesses push marketing teams to contribute more directly to revenue and growth.
Founded by Paul Rees and Gerhard Sagat, Edge Marketing Institute said G.A.M.E consists of 10 senior-level modules covering strategic marketing leadership, positioning, product marketing, sales alignment, go-to-market execution, marketing measurement, brand strategy, and organisational influence.
Paul Rees, Co-Founder of Edge Marketing Institute, said: “Gaming has talented marketers throughout the industry, but too many have been forced to learn senior leadership on the job without structured development or exposure to broader marketing best practice.
“This isn’t a talent problem; it’s a structural one.
“We created Edge Marketing Institute and G.A.M.E to help marketing leaders operate with greater commercial clarity, confidence and influence, so marketing becomes a genuine driver of growth rather than simply a delivery function.”
The programme has launched with the support of WorldGaming as its exclusive media partner. Alex Pratt, Managing Director at WorldGaming, said: “As gaming continues to evolve, the role of marketing is becoming increasingly commercial and strategically important.
“Helping marketing leaders better align marketing with business growth, commercial objectives and long-term industry development is positive for the wider gaming ecosystem, which is why we’re pleased to support the launch of Edge Marketing Institute and G.A.M.E.”
The post Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BetBlocker
BetBlocker adds Syrian Arabic language support for gambling harm prevention
The charity says the rollout targets displaced Syrian communities across Europe as it works toward a partnership with a European regulatory agency.
Gambling harm prevention charity BetBlocker said today it has expanded its service to include support for Syrian Arabic speakers, aiming to improve access for displaced Syrian communities living across Europe.
The organisation said years of conflict have led to large Syrian diaspora communities across neighbouring countries and many European nations. BetBlocker added that immigrant communities can face higher risk of gambling harm, with religious, social, cultural and linguistic barriers reducing engagement with support services.
BetBlocker said the Syrian Arabic rollout was prioritised as part of work towards a partnership with a European regulatory agency, positioning it to support diaspora Syrian communities across Europe.
Founder and Trustee for BetBlocker, Duncan Garvie, said: “I’m always really happy when BetBlocker can line-up priorities for where our work for mature markets also facilitates us extending protections to populations that are under served. Our project to deliver Ukrainian as apart of the Improving Outcomes for Minority Communities fund via GambleAware in the UK was a great example of a project that met the needs of the UK funding system, while concurrently extending the support we could offer to an entirely new project.
This project offers similar opportunities. Where extending our support to Syrian Arabic both allows us to submit a more competitive tender to an EU regulator, whilst simultaneously expanding our support to a country/population that currently has very limited options for people experiencing gambling harm.
BetBlocker’s uptake in Syria is climbing rapidly at the moment, and this new launch should ensure that far more people who need support can access it.”
The post BetBlocker adds Syrian Arabic language support for gambling harm prevention appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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