Latest News
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
Powered by WPeMatico
Latest News
The Power of High Performance: GR8 Tech Achieves 25% Turnover Growth in 2024
GR8 Tech has successfully closed the year – a 25% year-on-year increase in turnover, dozens of new clients signed, and a significant boost in client revenue. Throughout the year, the company developed nearly 200 new features and improvements, continually enhancing the functionality of its platform. With over 12.4 billion bets placed in 2024 (a 125% increase year-on-year), GR8 Tech has proven its ability to scale and deliver consistent performance, even during the busiest events.
“Our primary focus in 2024 was to empower operators with tools for seamless platform customization and streamlined management. We introduced geo-specific solutions that enable faster market launches, adapting platforms to meet local demands—whether through bonus mechanics, payment methods, or tailored content for sportsbook and casino. At the same time, we strengthened our offerings with enhanced sportsbook features, new games in the casino vertical, and innovative gamification mechanics to drive player engagement,” said Denys Parkhomenko, Chief Product Officer at GR8 Tech.
GR8 Tech demonstrated its robust scalability by handling 21.5 million bets during the IPL 2024 alone. With the capacity to process 20,000 bets and 54,000 wallet transactions per second, the platform consistently performs even during high-traffic periods.
In 2024, GR8 Tech signed numerous long-term partnerships, bringing its total number of projects worldwide to 45+ and proving the growing demand for customizable iGaming solutions. The company also received industry-wide acclaim, securing multiple prestigious awards, such as Silver as the Best Platform Provider of the Year at SBC Awards, “Best Online Sportsbook Provider” at SiGMA Eurasia, “Best Workplace” at SiGMA Americas, and “Rising Star Provider of the Year” at the Affpapa iGaming Awards 2024.
Building on its achievements, GR8 Tech is set for another successful year, continuing to deliver industry-leading solutions for operators around the world.
“Improvement and excellence are about consistently staying ahead. A trend might emerge and then disappear tomorrow, but improving your product – making it better than the competition – has lasting value. Whether it’s through better personalization, risk management, recommendations, or any other aspect, improvement is essential. And in this industry, you don’t really have a choice. It’s so fast-paced that if something new and valuable appears, you need to adopt it immediately. The mindset of constant improvement is what keeps a product relevant and competitive,” said Sergey Ghazaryan, CRO at GR8 Tech.
GR8 Tech heads into 2025 with a continued commitment to driving high-performance results, leading industry trends, and challenging the norm.
The post The Power of High Performance: GR8 Tech Achieves 25% Turnover Growth in 2024 appeared first on European Gaming Industry News.
Latest News
Biggest Game Portfolio and 3 New Products: SOFTSWISS 2024 Overview
Expanding into new markets and unveiling innovative products, SOFTSWISS, a leading tech company with over 15 years of iGaming expertise, looks back on the milestones of its anniversary year.
Tech Achievements
This year, SOFTSWISS enriched its portfolio with three new products: the Lotto Software, the Retail Betting Solution, and a Horse Racing module integrated into the Sportsbook. These new products give operators flexible and secure tools to expand their lottery and betting services.
With over 23,500 games from more than 280 providers, the SOFTSWISS Game Aggregator has become the largest game hub in the industry. Equipped with unique player engagement tools, it supports over 1,200 iGaming brands, setting a benchmark for innovation and scale.
Uniting Expertise and Efforts for Global Impact
By acquiring a majority stake in South Africa’s Turfsport, SOFTSWISS is combining the expertise of both companies to provide top-tier iGaming solutions in the African region. Securing a significant share in Germany’s Ously Games, the driving force behind the rapidly growing European social casino SpinArena.net, has opened a new niche for SOFTSWISS in the promising social entertainment market.
SOFTSWISS welcomed Formula 1 legend Rubens Barrichello as its Non-Executive Director for LatAm, bolstering the company’s presence in the Brazilian market. By merging expertise from two dynamic industries – iGaming and racing – SOFTSWISS delivers unparalleled insights to drive boundless business growth for its clients.
Amid the devastating floods in Brazil, SOFTSWISS launched the ‘Help Brazil’ campaign, rallying industry players to support those in need. The initiative gained widespread backing from the iGaming media and was honoured as the Socially Responsible Initiative of the Year at the SBC Latinoamérica Awards.
Celebrating 15 Years of Excellence
Marking its 15th year in the iGaming industry with significant achievements, SOFTSWISS honoured this milestone with the Grand Anniversary party. The event took place in Lisbon and united around 600 guests.
SOFTSWISS team also celebrated gaining 22 industry accolades in 2024. Software Supplier, Best Platform Provider, Aggregator of the Year, Crypto Company of the Year, Affiliate Software Supplier, Innovation in iGaming Technology, and Responsible Gaming Award – to name just a few in product categories.
Andrey Starovoitov, Co-CEO at SOFTSWISS, summarises: “New Year’s Eve is a time-honoured moment for reflecting, celebrating achievements, and learning from challenges. At this moment, we extend our heartfelt gratitude to our partners, clients, and our incredible team, whose dedication and hard work made this year truly remarkable.”
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post Biggest Game Portfolio and 3 New Products: SOFTSWISS 2024 Overview appeared first on European Gaming Industry News.
Latest News
PopOK Gaming Brings Festive Cheer with the Release of “Papai Noel da Fortuna”
PopOK Gaming announced the launch of Papai Noel da Fortuna, the latest holiday-themed slot game. Just in time for the season of joy, this exciting release captures the magic of Christmas and New Year with festive fun, dazzling rewards, and immersive gameplay.
Step into a winter wonderland where Santa Claus himself takes center stage, filling the reels with sparkling ornaments, golden bells, and overflowing gift bags. With Papai Noel da Fortuna, every spin is a celebration of holiday cheer and fortune.
Game Highlights That Deliver the Festive Spirit:
Respin Until Win: Triggered randomly, this feature locks matching symbols on the first and third reels to guarantee a win.
x10 Multiplier: Achieve identical symbols or Wilds across a reel to boost your win by 10 times.
Enchanting Visuals & Festive Soundtrack: Dive into a magical holiday atmosphere led by Santa himself.
Max Win Potential: Unwrap rewards of up to 2000x your total bet!
Crafted with stunning graphics, cheerful holiday music, and engaging mechanics, Papai Noel da Fortuna ensures an unforgettable gaming experience for players, making it the ultimate slot game for the festive season.
Celebrate the holidays in style with PopOK Gaming’s Papai Noel da Fortuna. Unwrap the fun, spin the reels, and let the season of giving bring you spectacular rewards.
Stay tuned for more updates from PopOK Gaming, and don’t miss your chance to experience the magic of Papai Noel da Fortuna.
The holiday adventure starts now!
The post PopOK Gaming Brings Festive Cheer with the Release of “Papai Noel da Fortuna” appeared first on European Gaming Industry News.
-
Australia6 days ago
Regulating the Game Announces its Latest Addition to its 2025 Masterclass Series in Sydney
-
Latest News6 days ago
Week 50/2024 slot games releases
-
Compliance Updates6 days ago
Florida Gaming Control Commission Collaborates with Local Law Enforcement Partners to Address Illegal Gambling Activity and Shut Down Illegal Casinos
-
Latest News6 days ago
Veikkaus signs partnership agreement with the Finnish Ice Hockey Association
-
Compliance Updates6 days ago
Advertising Standards Authority Partners with Grambling Regulatory Authority of Ireland
-
Central Europe6 days ago
SYNOT Games teams up with win2day to revolutionize Austria’s iGaming scene
-
Betson Enterprises6 days ago
Betson Appoints Todd Cravens as SVP of Gaming Division
-
Canada6 days ago
Play’n GO announces partnership with Canadian operator PointsBet