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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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ELA Games
ELA Games Unveils Tea Party of Fortune — A Magical Multiplier Experience
The newest release from the studio offers a multi-faceted Hold & Win experience wrapped in a charming fairytale theme.
ELA Games has officially launched its newest slot, Tea Party of Fortune. Now accessible throughout the studio’s complete partner network, this story-driven title welcomes players into a Secret Garden where engaging mechanics blend with a beloved fairytale theme.
The studio is building a name for itself by creating games centered around a cohesive narrative, and Tea Party of Fortune aligns with that goal. Brought to existence by a delightfully quirky ensemble, featuring the Mad Hatter and the Red Queen, the game creates a richly layered ambiance resonating with the sounds of chiming china and intrigued laughter.
The game exemplifies ELA Games’ skill in merging high-quality art with clever game design. The core game is notable for its progression system, the Overflowing Teacup, which enables players to see the path to the bonus round with every spin.
The visual appeal embodies the enchantment of a traditional storybook, while the gameplay provides action rich in features. The title focuses on an engaging Hold & Win Bonus Game, crafted to provide greater complexity than typical games in this favored genre.
During this round, uniquely colored tea-coins activate the cup’s enchantment, enabling several features to trigger in one spin:
● Grid Expansion: The Curious Growth coin expands the reel set from 5×3 to 5×5.
● Win Boosting: Mad Multipliers increase the value of existing prizes.
● Bonus Round Extension: The Extra Respin coin prolongs the bonus round.
Game Stats:
● Reels: 5×3 (Expands to 5×5)
● Paylines: 10
● RTP: 93.75% / 95.73%
● Volatility: Mid (3/5)
● Max Win: x5,000 (€250,000)
● Buy Bonus: Yes
The post ELA Games Unveils Tea Party of Fortune — A Magical Multiplier Experience appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
3 Oaks Gaming
3 Oaks Gaming Partners with Superbet Group to Drive International Expansion
3 Oaks Gaming, a prominent iGaming content distributor, has greatly expanded its global presence by debuting its portfolio with Superbet Group, a top operator in Europe and South America.
The deal allows the operator group’s leading Superbet brand in Brazil and Romania to access 3 Oaks Gaming’s entire range of top-performing slot games, featuring recent successes like Coin Volcano 2, Maya Lock, and Magic Clovers.
Mirroring 3 Oaks Gaming’s expanding global strategy, the collaboration showcases the distributor’s capacity to provide its celebrated content concurrently in various regulated markets.
Superbet has positioned itself as a significant player in both regions, integrating a vast retail network with a robust online presence to gain a reputation for providing top-notch and responsible betting and gaming experiences.
The collaboration bolsters 3 Oaks Gaming’s dedication to teaming up with reputable, established operators that align with its emphasis on quality, compliance, and engaging local players.
Iulian Nedelcu, Account Manager at 3 Oaks Gaming said: “Partnering with Superbet marks another exciting step in our international growth journey. As one of the most recognisable brands in Romania and Brazil, Superbet provides an excellent platform to showcase our portfolio to an even wider audience in two key regulated regions.
“We are confident our games will resonate strongly with their player base and look forward to a successful collaboration across both markets.”
Raluca Varzaru, Senior Gaming Performance Executive at Superbet said: “At Superbet, we are constantly looking to enrich our casino offering with quality content that entertains and engages players. 3 Oaks Gaming’s portfolio brings proven performance and diversity to our platforms, supporting our vision to provide a first-class gaming experience in every market we operate in.
“We are delighted to welcome their titles to our casino and look forward to seeing the positive response from our players.”
The post 3 Oaks Gaming Partners with Superbet Group to Drive International Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Booming Games
Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win
Booming Games, a top supplier of high-quality gaming content, has introduced Gold Gold Gold Hold and Win today. The game features a 5×3 layout with 25 paylines, offering significant risks with a top payout of 2,000 times the wager. Offering instant cash prizes at the end of each spin, Gold Gold Gold Hold and Win delivers an exceptional experience for players in search of high-stakes excitement.
The game includes a variety of bonus features. Landing six or more coin symbols activates the Hold and Win bonus, initiating a high-stakes re-spin round. Beginning with three re-spins, each additional coin resets the re-spin total, continuing the round. The opportunity to win immediate cash rewards, including Mini, Major, or Grand bonuses that can reach up to 1000 times the total wager, significantly enhances the thrill of the game.
In addition, players who hit three Scatter symbols will receive eight Free Spins. From this point onward, only premium symbols show up on the reels, including Wilds, Bells, Stars, Gold Bars, and Clovers. Featuring only high-paying symbols, each spin is designed to enhance the likelihood of securing significant combinations, and Free Spins can be retriggered, generating payout possibilities with every spin.
Craig Asling, Director of Games at Booming Games, said: “The treasure hunt is on. With a golden chance to strike it rich, Gold Gold Gold Hold and Win is our latest must-play slot. With thrilling bonus features that keep the action going, players can enjoy the potential to unlock massive returns and feel that they are always one spin away from striking gold.”
The post Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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