Latest News
Gaming Innovation Group reports Q3 2021
Gaming Innovation Group Inc. (GiG) reports Q3 2021 revenues* of €17.0 million and an EBITDA of €5.3 million.
“I am very pleased with the results and the momentum we continued to demonstrate in the third quarter across GiG’s business units. The Company continued to build towards its execution strategy for long term sustainable growth over the coming years, leveraging its diverse portfolio of operations and to prepare for expansion into new markets, development of products and operational performance that will enable the Company to push towards further success in the coming years.”, says Richard Brown, CEO of GiG.
Financial Highlights
- Revenues* in Q3 2021 were €17.0m (14.2), an increase of 20% YoY, all organic
- EBITDA was €5.3m (3.2), up 67%, EBITDA margin* increased to 31.3% (22.5%)
- All-time high revenues in Media Services of €11.2m (8.6), an increase of 30%, with an EBITDA of €5.1m (4.0)
- Revenues* for Platform Services were €5.7m (5.4), an increase of 6% (32% ex. terminated white-labels), with a positive EBITDA of €0.6m (-0.1)
- Positive EBIT of €1.8m (-1.6), an improvement of €3.4m
- Positive cash flow from operations of €7.9m (-0.2), an improvement of €8.1m
Operational Highlights
- Signed two long-term agreements for the provision of GiG’s platform to facilitate an operator’s multi-brand strategy and expansion into several EU markets
- Signed a long-term agreement for the provision of GiG’s platform that will support a client’s operations in certain designated markets
- One new brand was launched in Q3 and the development for three additional brands are now complete, all expected to go live in Q4
- Media Services reached a third successive all-time high in quarterly revenue and player intake was in line with previous quarter despite normal seasonality effects in Q3
- Entered four new markets in Media and one in Platform
Events after Q3
- Signed a long-term agreement with an established German operator that will migrate its existing brand to GiG’s iGaming Platform
- October has developed positively, and revenues are up 23% compared to the same period last year. Adjusted for terminated white-labels and Germany, revenues are up 34%
- The strong development continues in Media Services with both all-time high revenue and player intake in October
*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 Q3-2021 Interim Report for more details.
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Compliance Updates
Playnetic strengthens European presence with licence to operate in Sweden
Playnetic, the new immersive B2B iGaming provider has announced that it has been granted a Swedish licence, following regulatory approval from the Swedish Gambling Authority, Spelinspektionen.
The licence allows Playnetic to launch its catalogue of innovative iGaming titles in Sweden, enabling the company to finalise partnerships with prominent operators across the country.
This significant milestone marks a major step forward in supporting Playnetic’s ambitious growth plans, which include increasing its foothold in other European markets, as well as continued expansion in regulated markets across the globe.
Dan Phillips, Playnetic CEO said: “Since launching in early 2023, Playnetic has been exploring expansion opportunities in Europe to penetrate new markets and we are thrilled with achieving this milestone.
“Thanks to our experienced compliance team, we were able to obtain this licence promptly, which is a huge positive as the market entry lines up perfectly with our regulatory roadmap for 2024. We are looking forward to launching our innovative suite of games which feature captivating themes and mechanics to players and operators in Sweden.”
The post Playnetic strengthens European presence with licence to operate in Sweden appeared first on European Gaming Industry News.
Balkans
Wazdan adds to Croatian presence with SuperSport tie-up
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, has gone live with SuperSport, expanding its foothold in Croatia.
As part of the agreement, an initial tranche of games go live with the operator, including its top-performing hits such as 9 Coins™ Grand Gold Edition, 9 Lions, 12 Coins™ and Burning Sun™, with more titles set to be uploaded in batches at a later stage.
Thanks to the new deal, SuperSport’s players can now enjoy the provider’s renowned mechanics including Cash Infinity™, Sticky to Infinity™ and Hold the Jackpot™, which deliver proven results to operators.
With over 20 years of experience in the betting and gaming industry, SuperSport’s online platform is a market leader in Croatia and is now set to benefit from Wazdan’s pristine titles.
The Balkans have remained a key growth area for Wazdan as it continues to expand across regulated markets worldwide.
Radka Bacheva, Sales and Business Development at Wazdan: “Marking another step in our growth strategy, the Balkans have quickly emerged as one of the most exciting markets in Europe and we are delighted to bring our dynamic titles to SuperSport, a market leader in Croatia.
“Through our engagement-boosting features, we can guarantee an unmatched gaming experience to its players and can’t wait to see how they react.”
Robert Milic, Head of Games at SuperSport said: “Wazdan’s award-winning features and titles add real value to our offering, so we are thrilled to bring an influx of its games to our players.
“As a market leader in Croatia, it is imperative that our content remains of the highest calibre and genuinely excites players. By forging agreements with providers such as Wazdan, we can achieve this whilst elevating our position in the industry to new heights.”
The post Wazdan adds to Croatian presence with SuperSport tie-up appeared first on European Gaming Industry News.
Blockchain
Metalottery Launches Blockchain Lottery Revolution: Zero Fees, Instant Wins and Life-Changing Jackpots in Crypto
A brand-new online lottery portal built on blockchain technology is shaking things up in the world of chance. Metalottery, the first-ever decentralised blockchain lottery platform, officially launched, introducing a new era of transparent, thrilling and rewarding lottery gaming. By combining cutting-edge blockchain technology with the excitement of lotteries, Metalottery offers players unprecedented fairness, security and the potential to win life-changing prizes.
“Metalottery is not just another lottery; it’s a paradigm shift. We’re giving power back to the players by offering a transparent, secure, and exciting lottery experience that’s built for the web3 age,” Dioni Bouropoulos, COO of Poollotto Finance, said.
Unlike traditional lotteries, Metalottery uses Chainlink’s Verifiable Random Function (VRF) to ensure provably fair and unbiased results for every draw. And with new lottery rounds starting every 8 hours, players can enjoy the thrill of winning more often than ever before.
At the heart of Metalottery is the PLT token, the fuel of the platform’s ecosystem that players can use to purchase tickets. Metalottery makes purchasing Pool Lottery Token (PLT) available and straightforward on their website. Players can also spin the “Wheel of Fortune” for additional rewards as well as participate in a growing community of lottery enthusiasts on Telegram and Discord.
Bouropoulos added: “Our platform is designed to be inclusive and accessible to a global audience. By combining innovative technology with a user-friendly interface, we empower players to take control of their lottery journey. We are charging no fees for participation and all proceeds from tickets go towards the jackpot. Our goal is to build the biggest lottery community in the world.”
The post Metalottery Launches Blockchain Lottery Revolution: Zero Fees, Instant Wins and Life-Changing Jackpots in Crypto appeared first on European Gaming Industry News.
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