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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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Kai Botha

QTech Games continues to move fast with Playnetic integration

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QTech Games, the leading game aggregator for all emerging markets, has announced its latest partnership with Playnetic, an emerging force in iGaming casino entertainment content allowing its platform clients access to another timely delivered portfolio of games focusing on immersive experiences.

Integrating games from one of the more visually stunning slots providers adds yet more variety to QTech Games’ premier platform, which is taking the widest range of online games to emerging territories with established names sitting alongside the industry’s most exciting up-and-coming providers. Playnetic’s standout titles include recent releases like Patrick vs Joker, alongside established fan favourites such as Joxer, Scarabs of Wealth and Lucky Licks.

Playnetic prides itself on creating engaging, innovative and high performing games that are suitable for all global gaming markets, delivering a personalised approach, which offers operators more flexibility in their iGaming content choices to suit specific markets. This integration also ensures QTech’s array of operator partners can leverage more innovative and high-performing content to stay ahead in a competitive marketplace.

Playnetic’s portfolio has been optimised for mobile, a cornerstone of QTech’s RNG model, which is founded on its fully-owned and customised technical platform, allowing games providers and operators the fastest integration available. With over 50 years’ management experience, QTech Games’ diverse range of gaming options is designed to provide a definitive one-stop shop. While its all-inclusive licence fee model, unified game launcher and wallet integration API mean clients can easily connect and access an all-encompassing portfolio in a few clicks. This has fast-become the “go-to” solution for worldwide operators across developing territories.

Philip Doftvik, QTech Games’ CEO, said: “We will continue to add fresh content to the platform, prioritising suppliers who provide unique, localised content. Playnetic’s immersive and player-focussed gaming suite fits the bill perfectly. Their content brings a new level of energy and engagement which we’re excited to share across our ever-growing group of operators.

Kai Botha, Chief Commercial Officer at Playnetic, added: “Playnetic’s mission is to create innovative, thrilling, and high preforming premium quality games that connect with players across multiple markets. For us that means casino content that is informed by market insights, advances in game play features supported by robust technology and the latest gameplay trends.

This deal marks another significant stride in enhancing our delivery efficiency, accelerating markets access to our games to connect with even more players.  We look forward to seeing our games portfolio being available through QTech’s network.”

The post QTech Games continues to move fast with Playnetic integration appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Andrew Cardno

SkyCity Expands its Strategic Partnership with Quick Custom Intelligence

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Quick Custom Intelligence (QCI), a leading provider of casino operational intelligence software, announced the expansion of its strategic partnership with SkyCity Entertainment Group, New Zealand’s premier entertainment and gaming company.

SkyCity has successfully utilised QCI Slots for several years to enhance operational visibility, productivity and optimisation across its gaming floors. Building on that foundation, SkyCity is now expanding its engagement with QCI to support a more integrated, enterprise-wide view of customer and operational intelligence across its properties, product channels and services.

The expanded collaboration will introduce additional capabilities within the QCI Enterprise Platform, enabling SkyCity to consolidate data from across its ecosystem and transform it into actionable insight. It introduces enhanced tools to support customer engagement, segmentation and targeted decision-making, helping teams better understand customers, tailor experiences and respond more quickly to changing customer and operational needs. This is a key capability in an increasingly omni-channel environment.

“Our partnership with QCI has developed into a truly strategic collaboration, supporting how we integrate critical customer, product, and operational intelligence,” said Christina Katsibouba, Chief Digital & Transformation Officer at SkyCity.

“As we continue to develop our digital and omni-channel strategy, this expanded engagement reflects a shared goal to use connected data and insights to make better decisions, achieve stronger customer outcomes and create long-term value across the organization. Collaborating closely with QCI allows us to operate with greater agility today, while also shaping the future of how integrated entertainment and gaming businesses utilize intelligence at scale.”

QCI’s Enterprise Platform supports casino resorts worldwide by integrating data from across gaming, hospitality, and digital environments, delivering real-time intelligence that empowers teams to improve efficiency, enhance customer engagement and make faster, more informed decisions.

“SkyCity has been an outstanding partner and an innovative leader in the gaming industry. This expansion reflects the strong foundation we’ve built together and our shared commitment leveraging connected intelligence to drive stronger customer outcomes, support omni-channel strategies, and create a more agile and data-led operating model,” said Andrew Cardno, Co-Founder and CTO of Quick Custom Intelligence.

The continued collaboration between SkyCity Entertainment Group and QCI reflects both organisations’ commitment to innovation, customer excellence and the ongoing advancement of technology within the global gaming industry.

The post SkyCity Expands its Strategic Partnership with Quick Custom Intelligence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Brooks Pierce

Inspired Entertainment Announces New SaaS Distribution Agreement with Playtech

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Inspired Entertainment, a leading provider of B2B gaming content and systems, announced a new SaaS distribution agreement with Playtech, one of the world’s leading gambling technology companies.

Under the agreement, Inspired’s Virtual Sports portfolio, including its market-leading licensed content and U.S. sports offerings, will be distributed via Playtech’s Sportsbook platform to operators worldwide.

The SaaS solution features a cloud-hosted back-end integration with Playtech, allowing for modular delivery that can be adapted to customer needs. Inspired’s Virtual Sports portfolio provides operators with products designed to enhance engagement and drive player growth. This integration enables Playtech’s partners seamless access to Inspired’s Virtual Sports.

“This partnership represents a major milestone for Inspired. By becoming one of Playtech’s Virtual Sports partners, we can deliver our cutting-edge content to a wider global audience via one seamless integration,” said Brooks Pierce, President and CEO of Inspired.

“We are delighted to partner with Inspired Entertainment. This agreement extends our Virtual Sports offering and reaffirms Playtech’s commitment to providing innovative, engaging experiences to players across multiple regulated territories,” said Yori Arami, VP of Sports Commercial at Playtech.

This agreement combines Inspired’s innovative content and cloud-native delivery with Playtech’s established operator network, resulting in a more engaging virtual gaming experience for players.

The post Inspired Entertainment Announces New SaaS Distribution Agreement with Playtech appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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