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Gaming Innovation Group reports Q2 2021

Published

5 years ago

August 18, 2021

George Miller

Reading Time: 2 minutes

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

Alona Shevtsova

Sends CEO Alona Shevtsova moderates Global Gaming Expansion panel in Riyadh

Published

2 hours ago

June 25, 2026

Wladimir P.

sends-ceo-alona-shevtsova-moderates-global-gaming-expansion-panel-in-riyadh

Alona Shevtsova, CEO of Sends, will moderate a panel at The Blockchain show on 29^th June, bringing together experts from entertainment, location-based gaming, and content localisation to examine what it takes to build sustainable gaming ecosystems across emerging markets.

The panel, titled “Global Gaming Expansion: Lessons from Untapped Markets,” will structure its discussion across four themes: the growth dynamics reshaping emerging gaming markets; the role of localisation in creating experiences that genuinely connect with new audiences; the infrastructure and communities needed to build gaming ecosystems beyond the game itself; and the lessons and opportunities that will define successful expansion in the years ahead.

Alona Shevtsova plans to frame the discussion around the central challenge for companies looking to expand globally: entering a new market requires far more than bringing an existing product to a new audience. Understanding local cultures, building communities, adapting experiences, and creating ecosystems that allow gaming to grow sustainably are all as important as the product itself.

Alona Shevtsova, CEO of Sends, said:

“The future growth of gaming will come not only from new technologies, but from understanding people — their cultures, communities, and the experiences they want to be part of. Successful expansion will belong to those who can combine global ambition with local understanding.”

The first segment will examine why regions including the Middle East, Africa, and South Asia are becoming increasingly significant for developers, operators, and investors — driven by young audiences, accelerating digital adoption, and new entertainment models creating substantial growth potential. Panellists will explore how consumer preferences differ across markets and what trends among younger audiences are shaping the future of gaming and entertainment.

The third segment will broaden the lens beyond the game itself, exploring the role of location-based entertainment, gaming centres, esports, and experiential destinations in attracting new audiences and building long-term communities. Panellists plan to address how entertainment ecosystems — spanning physical venues, events, and community infrastructure — accelerate gaming adoption in markets where the category is still establishing itself.

Earlier this month, Alona Shevtsova was shortlisted for the 2026 Great British Entrepreneur Awards in the Established Business of the Year category. Her team is also preparing for the Fintech Connect conference in London later this year. Sends will be a leading sponsor of this event.

*Sends is a trade name of SMARTFLOW PAYMENTS LIMITED, registered in England and Wales (Company No.11070048). For more information, visit sends.co .

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