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Gaming Innovation Group reports Q1 2022

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Gaming Innovation Group Inc. (GiG) reports Q1 2022 revenues* of €19.1 million and an EBITDA of €6.5 million.

“I am satisfied with the Company’s progress in the first quarter, and we now move toward an exciting second quarter where our global strategic position across multiple areas of high value within the iGaming industry creates truly exciting prospects for growth across the business units”, says Richard Brown, CEO of GiG.

Financial Highlights

  • GiG achieved all time high revenues* in Q1 2022 of €19.1m (15.0), an increase of 27% YoY, all organic growth
  • EBITDA was €6.5m (4.9), up 32%, EBITDA margin* increased to 34.2% (32.8%)
  • EBIT was €2.9m (1.9), up 53%, EBIT margin* increased to 15.1% (12.6%)
  • Revenues in Media Services at all-time high of €14.1m (10.0), an increase of 40%, with an all-time high EBITDA of €6.8m (4.6)
  • Revenues* for Platform Services were €5.0m (5.2), a decrease of 4%, with an EBITDA of €-0.3m (0.3), impacted by departure of HardRock and Dutch market in Q4 2021
  • Excluding white-labels and premium fees related to historic B2C sales, Platform revenue increased by 20% YoY
  • Positive net profit of €1.1m with an EPS of €0.01
  • Positive cash flow from operations of €3.8m (-0.1)

 

Operational Highlights

  • Media Services reached a fifth successive all-time high in quarterly revenue and player intake, FTDs ended at 69,800 (43,700), up 60%
  • Signed an extension to the long-term agreement with Betsson Group for the provision of Platform & Managed Services, taking the term of the contract to Q4 2025
  • Two new brands were launched, taking the number of live brands to 25 at quarter end
  • Three new client projects completed, all dev complete pending clients’ decision to launch

Events after Q1

  • Signed Acquisition of Sportnco completed on 1 April
  • Signed a head of terms agreement with a Tier 1 retail operator in the UK for the provision of turnkey managed service solutions
  • Signed agreement with existing Sportnco partner Betway for the provision of Sportnco’s Sportsbook and PAM for Portugal
  • Signed Full Game in Angola, first multi-product contract and first move into emerging regulated African continent
  • Signed an extension with SkyCity, taking the term to May 2025
  • GiG Media was awarded “best casino affiliate” award at the iGB Affiliate Awards in London
  • April has developed positively, and revenues are up 42% compared to the same period last year, whereof 28% organic growth

*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 Q1-2022 Interim Report for more details.

Investor presentation and webcast

CEO Richard Brown will present the Q1 2022 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/838781/live-q-gaming-innovation-group-3

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Strive Gaming partners with New Jersey’s award-winning PlayStar Casino

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Strive Gaming, the modern multi-state, multi-tenanted platform provider built specifically for the North American market, has announced a new partnership with leading online casino operator PlayStar.

Under the agreement, Strive will provide its market-leading PAM technology, supporting PlayStar’s continued growth across North America. PlayStar will migrate its New Jersey operations from its current player account management (PAM) provider onto the Strive platform, followed by launches in additional regulated jurisdictions including Ontario and Alberta in Canada.

PlayStar selected Strive following a detailed evaluation process as it looked for a platform partner capable of supporting its long-term ambitions across North America. Strive’s singular focus on the U.S. market, combined with the strength and scalability of its technology, made it stand out as the clear partner of choice.

Max Meltzer, CEO at Strive Gaming, said:

“PlayStar is a highly ambitious operator with a clear vision for building one of the leading casino brands in North America. They were looking for a platform partner that understands the realities of operating in the U.S. and Canada and can support them as they scale across multiple regulated markets.

“Our focus on North America, combined with the strength and flexibility of our platform, made this a natural fit. Both companies are on strong growth journeys and share similar ambitions for the region, so we’re excited to support PlayStar as they continue to expand.”

PlayStar Casino has quickly established itself as one of the success stories of the regulated North American casino market. The company has successfully built meaningful market share and a strong player following. Partnering with Strive marks the next stage in its growth strategy as it looks to expand further across North America.

Fredrik Liljewall, CEO at PlayStar, added:

“As we continue to scale our presence across North America, selecting a platform partner with a strong regional focus and the ability to support our long-term ambitions was critical.

“Strive’s technology, deep understanding of the North American market, and collaborative mindset made them the clear partner for PlayStar. We look forward to working closely together as we migrate our New Jersey operations and expand into additional jurisdictions, including Canada.”

This partnership marks another important milestone for Strive Gaming, which now supports more B2B PAM customers in the U.S. than any other platform provider. The addition of PlayStar further strengthens Strive’s growing portfolio of operators and reinforces its position as a supplier of choice for ambitious brands looking to launch and scale in the North American market.

The post Strive Gaming partners with New Jersey’s award-winning PlayStar Casino appeared first on Americas iGaming & Sports Betting News.

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Compliance Updates

Playtech Enters Connecticut iGaming Market

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Playtech has expanded into Connecticut, marking its entry into the sixth regulated iGaming state, continuing the company’s strong upward trajectory in the US.

Having been granted an Online Gaming Service Provider licence by the Connecticut Department of Consumer Protection, expansion into the state further accelerates Playtech’s U.S. growth, strengthening multi‑state partnerships with licensed operators in the process.

After launching in Delaware late last year, this latest step reflects Playtech’s commitment to scaling in all regulated markets as demand continues to build across the US’ iGaming landscape.

With this launch, players in Connecticut will now have access to Playtech’s portfolio of high-quality award-winning iGaming content, including a combination of bespoke and exclusive titles that have deeply resonated with audiences in other regulated U.S. markets.

Jonathan Doubilet, General Manager, USA at Playtech, said: “We are thrilled to expand our presence into a sixth U.S. state. Connecticut is a well-established iGaming market with a vast player-base that we anticipate will engage strongly with our first-class offering. It’s a source of pride that our most valued partners continue to place trust in us to reach the high standards the U.S. iGaming market demands.”

The post Playtech Enters Connecticut iGaming Market appeared first on Americas iGaming & Sports Betting News.

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Digitain

Digitain Nominated for iGaming Platform Provider Category at the Italian Gaming Awards 2026

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Digitain has announced that it has been shortlisted in the iGaming Platform Provider category at the Italian Gaming Awards 2026, one of the industry’s most recognised platforms that celebrates excellence, innovation and impact.

Set against the backdrop of Rome, the IGA brings together industry leaders for a dedicated evening focused in performance, progress and partnership. The event praises platforms and product innovations, payment solutions, marketing and data intelligence, as well as compliance and certification.

Tying all of the above is Digitain’s platform, with a nomination that reinforces a clear direction: building technology that delivers tangible operator value. Designed to achieve clarity, speed and results, it includes a rich portfolio of products and services that cater the most demanding operator needs, both excelling and setting new standards in the iGaming industry.

“For us, this nomination is another step forward in strengthening our position as a trusted partner for ambitious operators, with a platform that performs where it matters most,” the Company said.

The post Digitain Nominated for iGaming Platform Provider Category at the Italian Gaming Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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