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Gaming Innovation Group reports Q2 2021

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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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RubyPlay signs World Sports Betting deal to expand in South Africa

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Operator adds RubyPlay slots including Elephant Stampede, Diamond Explosion® 7s and Mayan Cache to its online platform.

RubyPlay has partnered with South African operator World Sports Betting to roll out a selection of the supplier’s slot titles on the bookmaker’s online platform.

Under the agreement, World Sports Betting has integrated RubyPlay Studios games including Elephant Stampede, Diamond Explosion® 7s and Mayan Cache.

RubyPlay said South Africa remains a key market in its international growth strategy. The supplier entered the country in 2023 and said the World Sports Betting deal builds on a series of local partnerships.

Dima Reiderman, CCO at RubyPlay, said: “South Africa has been a real focus for us since we entered the market three years ago, and the traction we have seen in that time makes this partnership with World Sports Betting a genuinely engaging one. They are an established, highly respected brand and adding our portfolio to their platform is a strong example of how we are continuing to establish ourselves as a tier-one supplier across regulated markets.

“World Sports Betting has a deep understanding of their players and a clear vision for how they want to grow their offering. That kind of operator mindset is what we look for in a long-term partnership, and it gives us a strong foundation to build on together in what remains one of the most intriguing markets worldwide.”

Ryno Du Plessis, Chief Operating Officer at World Sports Betting, added: “Our focus is on delivering a high-quality iGaming experience, with a high breadth of standout content playing a key role. RubyPlay stands out as a quality content supplier, not only for the strength of its portfolio, but for its clear approach to game development and delivery.

“Their ecosystem model supports long-term player engagement, which aligns with our strategy as we grow our offering. Bringing in-demand titles such as Elephant Stampede, Diamond Explosion® 7s and Mayan Cache to our players is an exciting move, and we see strong potential in the partnership moving forward.”

The post RubyPlay signs World Sports Betting deal to expand in South Africa appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Dan Brown Business Development Manager at Foxium

Games Global and Foxium launch Reels Avenue Link&Win slot

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New 5×4 Vegas-themed title adds four Link&Win modifiers and four-tier jackpots, with a stated top payout of 10,000x.

Games Global has launched Reels Avenue Link&Win™, developed with its exclusive studio partner Foxium. The new Vegas-themed slot is a 5×4 title built around a Link&Win™ mechanic, four feature modifiers and four-tier jackpots, with the company stating win potential of up to 10,000x.

The base game uses classic slot symbols including BARs, bells and fruits. Collect symbols on reels one and five award the value of all money symbols landing simultaneously.

Coloured money symbols feed meters beside the reels and can randomly trigger the Link&Win™ bonus. In the feature, cash and jackpot coins drop on two 5×4 grids. Four modifiers can apply: Collect Club (adds up cash symbols on the same grid), Twin Heart (replicates value to the adjacent grid), Multi Spade (increases prizes by up to 5x) and Boost Diamond (increments up to four random cash symbols).

The game includes four jackpots that can be enhanced by jackpot tokens in the base game and are awarded when diamonds are collected in each bonus round.

Dan Brown, Business Development Manager at Foxium, said: “There will always be a place for Vegas-themed slots, and for us, it is less about trying to replicate that style, and more about how we can rework it for the modern player. This release provides that nostalgia, but delivers the depth in gameplay that we know drives engagement.”

Dave Reynolds, Director of Games Strategy and Partner Management at Games Global, added: “Foxium have a real knack for building games that grab attention right from the get-go. Reels Avenue Link&Win™ takes the classic Vegas slot and drags it firmly into the modern era – four distinct Link&Win™ modifiers, four-tier jackpots, and audiovisual design that delivers on every level.”

The post Games Global and Foxium launch Reels Avenue Link&Win slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Relax Gaming launches football-themed Dream Drop slot with Bet Slip side bets

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World Class Kick Off Dream Drop is the supplier’s first football slot and adds a sportsbook-style feature ahead of the 2026 World Cup.

Relax Gaming has released World Class Kick Off Dream Drop, the latest entry in its Dream Drop jackpot series and the supplier’s first football-themed slot.

The company positions the launch around the 2026 World Cup, pitching the game as a cross-sell product aimed at sports bettors as well as casino players.

World Class Kick Off Dream Drop includes six progressive jackpots, including a €2 million MEGA Jackpot, according to Relax Gaming.

The title also introduces Relax Gaming’s Bet Slip feature, which lets players place side bets on specific symbols during gameplay for additional rewards. The supplier describes it as an “industry-first” mechanic designed to bring a sportsbook-style layer into a slot.

Tony O’Mahony, Chief Product Officer at Relax Gaming, said: “The new Bet Slip feature brings an exciting layer of engagement inspired by sports betting, while still delivering the huge jackpot potential players expect from our Dream Drop Jackpots. This one will appeal to casino players and sports punters who enjoy the chance to win big!”

The post Relax Gaming launches football-themed Dream Drop slot with Bet Slip side bets appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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