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
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Africa
Booming Games signs content deal with World Sports Betting in South Africa
WSB adds Booming titles including Tasty Bonanza, Cash Pig and the Buffalo series to its casino lobby.
Booming Games has signed a partnership with World Sports Betting (WSB) to roll out a selection of its casino titles on WSB’s platform in South Africa.
Under the agreement, WSB players will gain access to Booming Games content including Tasty Bonanza, Cash Pig and the Buffalo series. Booming Games positioned the deal as part of its wider expansion strategy across Africa.
Ryno Du Plessis, Group Chief Operating Officer at World Sports Betting, said: “We believe that Booming’s portfolio will offer something new and unique to our clients. Titles like Tasty Bonanza, Cash Pig and the popular Buffalo series are sure to be very popular with our player base.”
Solomon Godwin, Head of Africa at Booming Games, added: “We are thrilled to partner with World Sports Betting, a company with an outstanding reputation for delivering premium entertainment to players across the South African market. This collaboration represents an exciting step forward in expanding Booming Games’ reach and ensuring our titles are accessible to even more players in South Africa. We look forward to building a successful long-term relationship and delivering high-quality entertainment to their customers.”
The post Booming Games signs content deal with World Sports Betting in South Africa appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
Exclusive Relax Gaming slot lands at Zingo Bingo
Zingo Bingo has exclusively launched Midnight Marauder ClusterBreaker, the latest action-packed slot from leading supplier Relax Gaming.
The neon-fuelled heist adventure is now available to Zingo Bingo players who will embark on a precision operation to plot the ultimate raid to try and crack the vault to unlock those wins.
Set across a 4×4 cluster-pay grid, Midnight Marauder ClusterBreaker combines fast-paced gameplay with expanding cluster mechanics and escalating rewards inspired by high-stakes vault robberies and underground crime capers.
The excitement builds throughout gameplay thanks to the slot’s Progressive Generation Multiplier feature. With every consecutive generation of winning clusters, the multiplier doubles, creating the potential for massive payouts as cascades continue across the reels.
Players can also trigger Smash ‘N’ Grab Free Spins, with opportunities to increase spins and multipliers throughout the bonus feature, adding even more excitement and win potential during gameplay.
New online UK bingo brand Zingo Bingo offers a variety of online bingo rooms as well as access to thousands of slot titles and this latest launch further strengthens its growing collection of popular Relax Gaming releases including Money Train 4, Temple Tumble Megaways and Iron Bank 2.
Zingo Bingo Head of Brand Jack Watson said: “At Zingo Bingo, we’re committed to providing the highest standard of online experience for players with a growing portfolio of more than 8,000 games, including new releases and exclusive launches. We’re delighted to be bringing Midnight Marauder ClusterBreaker to our players as an exclusive launch and it’s exactly the kind of fresh, entertaining release our players love to see.
“Relax Gaming has done a fantastic job combining innovative mechanics with fast-paced gameplay and exciting bonus features, while the ClusterBreaker mechanic adds something genuinely different to the experience. We’re delighted to be bringing the game to Zingo Bingo players.”
The post Exclusive Relax Gaming slot lands at Zingo Bingo appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Alex Scott Chief Product Officer at Tequity
Tequity appoints Alex Scott as Chief Product Officer
Former Microgaming poker MD and ex-WPT Global president joins as supplier pushes regulated-market expansion and new verticals.
Tequity has appointed Alex Scott as Chief Product Officer, adding a long-time iGaming executive to lead product vision and oversee the product lifecycle from conception to market launch.
Scott has more than 20 years of experience in the sector. He previously served as Managing Director of Poker at Microgaming and later led WPT Global as President.
The hire comes as Tequity expands its product structure, including the recent launch of Tequity Exclusives, a vertical for custom-built games that sits alongside its RGS, Originals and Publishing divisions. The company also said it has completed BMM Testlabs certification for its RNG and the first batch of Tequity Originals titles as it targets regulated markets.
Alex Scott, Chief Product Officer at Tequity, said: “Tequity is pushing the boundaries of what is possible in iGaming by harnessing the power of technology to streamline and elevate game development.
“It is an incredibly exciting time to join the team. I look forward to leading the product vision across our expanding divisions to deliver next-generation casino content to operators worldwide.”
Krzysztof Opałka, CEO at Tequity, said: “We are thrilled to welcome Alex to the team as we continue to move the business forward at pace. His two decades of industry leadership and pioneering, hands-on experience with AI-driven casino games make him the perfect fit to lead our product strategy.
“With our rapid recent progress across all of our divisions, his expertise will be invaluable in maximising the impact of our portfolio.” Scott will attend iGB Live in London next month as part of Tequity’s team.
The post Tequity appoints Alex Scott as Chief Product Officer appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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