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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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bet365 partners with MGA Games on Mina de Oro Golden Edition for Spain

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The operator launches a branded version of the classic slot title for its Spanish customers.

bet365 has partnered with MGA Games to launch Mina de Oro Golden Edition bet365 for customers in Spain.

The companies said the release is a reimagined version of Mina de Oro, positioned as an update to one of MGA Games’ long-running titles for the Spanish market.

Luke Rushton, Gaming Product Content Manager at bet365, said: “MGA Games has established an outstanding reputation for innovation and quality, and we are delighted to partner with them on this exciting title.

“Reimagining such a celebrated classic is both a privilege and a significant responsibility, and we are confident customers will greatly enjoy this new experience.”

Javier Lanfranchi, Commercial Director at MGA Games, said: “Mina de Oro Golden Edition bet365 represents the celebration of 10 years of successful collaboration between MGA Games and bet365: a decade built on trust, innovation and a shared commitment to delivering top-level gaming experiences.”

Aleix Giacomelli, Account Manager at MGA Games, said: “Launching such a special edition alongside bet365 is much more than presenting a new game. We believe players are going to greatly enjoy this new version of Mina de Oro.”

The post bet365 partners with MGA Games on Mina de Oro Golden Edition for Spain appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Groove lands Brazil iGaming licence as it pushes LATAM expansion

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Groove said it has been granted a licence to operate in Brazil, expanding its regulated footprint in Latin America and adding to its existing infrastructure in Argentina.

The company positions the Brazil approval as a route for operator and supplier partners to enter the market via a single integration, with localisation features including local payment processing and marketing tools. The release did not specify the issuing regulator, licence type, or an effective date.

Rachel Tourgeman, Head of Partnerships at Groove, said: “The green light in Brazil is more than a license; it’s a key that unlocks a kingdom of opportunity for our partners. We’ve built a platform capable of not just entering, but driving in regulated markets.” She added: “Operators can now immediately tap into Brazil’s immense potential, while providers gain a trusted pipeline to a passionate new player base. This is a definitive moment that accelerates the entire LATAM iGaming ecosystem.”

Yahale Meltzer, Co-Founder and CEO of Groove, said: “Our vision has always been to build the bridges that connect great content with passionate players, wherever they are. Securing our Brazilian license and reinforcing our Argentine operations is a testament to our team’s relentless execution and our long-term commitment to LATAM.” He added: “We are not just following trends; we are actively architecting the future of iGaming in the region, providing a secure, scalable, and sophisticated platform for our partners to grow with us. The door to Latin America is now open, and Groove is the key.”

Groove also said its platform offers access to “over 20,000 games” from “over 150 games partners” and noted it has launched a new web domain at www.groovetech.com.

The post Groove lands Brazil iGaming licence as it pushes LATAM expansion appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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GAMOMAT wins Best Diverse Place to Work at WIG Diversity & Inclusion Awards 2026

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GAMOMAT has won Best Diverse Place to Work at the WIG Diversity & Inclusion Awards 2026, the company said on Monday 15th June, 2026. The award was presented at an event held last Friday at London’s Savoy Hotel.

According to the company, the Best Diverse Place to Work category recognises organisations “whose values support a diverse, motivated, and effective workforce.”

Dr Alex Krone, Managing Director at GAMOMAT, said: “GAMOMAT securing the Best Diverse Place to Work award against such a strong field is a proud recognition of the culture the company continues to build across the business. The award further reinforces our belief that creating an inclusive, supportive, and people-first environment drives stronger teams, stronger collaboration, and long-term success across the industry.”

GAMOMAT also received an individual award, with Lead Game Composer Iris Wallner named Employee of the Year. The company said the accolade recognises employees who demonstrate service orientation, innovation, open communication and team support, and noted Wallner’s work on “the award-nominated soundtrack for Dead Legion.”

Iris Wallner, Lead Game Composer at GAMOMAT, said: “Being named Employee of the Year is amazing and means a great deal to me. At GAMOMAT, creativity and collaboration go hand in hand, and I’m fortunate to work alongside talented people who constantly inspire and support one another. Bringing game worlds to life through music is something I’m deeply passionate about, so to receive this recognition for doing what I love is truly rewarding.”

The post GAMOMAT wins Best Diverse Place to Work at WIG Diversity & Inclusion Awards 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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