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Gaming Innovation Group reports Q1 2022
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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BETBY
BETBY Announces Strategic Partnership with Vibra Gaming
BETBY, the leading B2B sportsbook supplier, has announced a new strategic partnership with Vibra Gaming. The agreement will see BETBY deliver its full sportsbook solution to Vibra Gaming, further accelerating its expansion across the LatAm region.
Through this collaboration, Vibra Gaming will integrate BETBY’s complete sportsbook offering covering more than 500,000 monthly events, including its advanced AI-powered tools, AI Labs, and proprietary esports feed, Betby.Games. Delivered via a single, seamless API integration, the solution enables Vibra Gaming to incorporate a fully scalable sportsbook directly into its platform, allowing its operator partners to roll out sports betting efficiently while reducing technical complexity and accelerating time-to-market.
The integration addresses key challenges associated with launching a sportsbook, particularly the technical demands and resource requirements involved. By leveraging BETBY’s solution, Vibra Gaming can extend its platform capabilities without adding significant development overhead, while enabling its partners to introduce sports betting as part of a broader, multi-vertical offering.
A key component of the agreement is the inclusion of Betby.Games, BETBY’s award-winning esports feed, which aligns closely with Vibra Gaming’s localized approach. The portfolio features hyper-localized, industry-first titles such as eVaquejada and eFootVolley, designed specifically to resonate with Latin American audiences, further strengthening engagement across the region.
The partnership comes as BETBY continues to reinforce its position in Latin America, a strategic market where the provider has been actively investing and expanding its footprint. With operational licenses in Brazil and Peru, and a growing network of regional partners, this collaboration marks an important step in BETBY’s long-term growth strategy across LatAm.
Stefanos Karakidis, Business Development Director at BETBY, said: “This partnership is a natural fit for both sides. Vibra Gaming has built a platform that reflects the expectations of Latin American operators, and that creates the ideal environment for our sportsbook to deliver value. Besides that, what makes this collaboration particularly strong is how seamlessly our solution integrates into Vibra’s ecosystem, enabling their casino operator partners to expand into sports betting in a fast, efficient, and scalable way.”
Werter Luna, CEO at Vibra Gaming, said: “At Vibra Gaming, our priority is to provide our partners with flexible, locally relevant solutions that help them grow. Integrating BETBY’s sportsbook allows us to expand our platform with a best-in-class sports betting offering that matches our standards in terms of performance and adaptability. We’re particularly excited about the potential of combining their technology and esports content with our localized approach to further enhance the player experience across Latin America.”
The post BETBY Announces Strategic Partnership with Vibra Gaming appeared first on Americas iGaming & Sports Betting News.
Acquisitions/Merger
Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets
Betr, the company behind the world’s first real money gaming super app, announced it has acquired Ascent Capital Management Inc., securing National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) registration to advance the launch of prediction markets within the Betr super app.
Through the acquisition, Betr becomes a CFTC-registered introducing broker, representing a major milestone in the company’s continued expansion into regulated prediction markets. The transaction allows Betr to accelerate the company’s plans to launch prediction markets powered by Polymarket directly within the Betr super app.
Beginning later this year, Betr plans to make event contracts across sports, politics, culture, and more available to its over one million nationwide paying users through the same seamless experience as Picks, Sportsbook, Casino, and Arcade, all integrated within one wallet and one app.
“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology. Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. This acquisition is another step toward our vision of creating the first true nationwide real-money gaming app. By securing IB registration through the acquisition of an established broker, we can now focus entirely on launching a seamless, compliant prediction markets experience powered by Polymarket. Our users will soon be able to engage with Picks, Sportsbook, Casino, Arcade, and Predictions all within a single integrated ecosystem,” said Joey Levy, Founder and CEO of Betr.
Ascent Capital Management Inc. has been registered as an introducing broker since 2011 and brings established compliance infrastructure that will support Betr’s expansion into the rapidly growing prediction markets category while maintaining strong standards around regulatory compliance and user protection.
The post Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets appeared first on Americas iGaming & Sports Betting News.
Dallmeier electronic USA Inc
Dallmeier Electronic USA Appoints Dave Dalleske as VP of Commercial/Industrial Sales
Dallmeier electronic USA Inc. (DUS) announced the appointment of Dave Dalleske as Vice President of Commercial/Industrial Sales, reinforcing the company’s commitment to accelerating growth across North America and key vertical markets.
Dalleske brings more than two decades of executive experience driving revenue growth, building high-performance teams, and executing global go-to-market strategies across the video security, SaaS, and industrial technology sectors.
“Dave’s track record of transforming sales organizations and scaling revenue in complex, enterprise environments make him an ideal fit for our next phase of growth. His experience across security technologies and video platforms aligns perfectly with our strategic direction,” said Joe McDevitt, President of Dallmeier electronic USA Inc.
Dave has held executive leadership roles with internationally recognized manufacturers in the video security industry, where he consistently delivered strong revenue growth, expanded global market presence, and secured major enterprise contracts.
In these roles, he was also instrumental in supporting integration processes following strategic acquisitions as well as in developing and implementing international sales and marketing strategies. Earlier in his career, he took on various leadership positions with responsibility for marketing and regional sales operations across EMEA.
Dalleske’s expertise spans enterprise sales, strategic account development, and data-driven performance management, with deep industry knowledge in IP video, physical security, and industrial safety. He holds a Bachelor of Science in Business with a focus on Marketing Management from Virginia Tech.
“I’m excited to join Dallmeier at such a pivotal time. The company’s technology, particularly in advanced video solutions, positions it uniquely in the market. I look forward to working with the team to expand our footprint and deliver meaningful value to customers,” said Dalleske.
This appointment underscores Dallmeier’s continued investment in leadership and innovation as it expands its presence across commercial, industrial, and critical infrastructure markets.
The post Dallmeier Electronic USA Appoints Dave Dalleske as VP of Commercial/Industrial Sales appeared first on Americas iGaming & Sports Betting News.
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