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Gaming Innovation Group reports Q4 2022
Gaming Innovation Group Inc. (GiG) reports Q4 2022 revenues* of €26.0 million and an adjusted EBITDA of €10.8 million.
“We have delivered a stellar quarter across the business with strong growth for Group revenues and EBITDA of 44% & 71% respectively”, says Richard Brown, CEO of GiG.
Financial Highlights
- The Group achieved all-time high revenues* in Q4 2022 amounting to €26.0m (18.1), an increase of 44% YoY, whereof 35% organic
- Adjusted EBITDA was €10.8m (6.3), up 71%, adjusted EBITDA margin* increased to 41.4% (34.9)
- EBIT was €4.0m (2.2), with an EBIT margin* of 15.5% (12.4%), an increase of 80% YoY
- Revenues in GiG Media at all-time high of €17.8m (12.8), an increase of 40%, with an adjusted EBITDA of €8.9 (5.9)
- Revenues* for Platform & Sportsbook were all-time high at €8.2m (5.3), an increase of 54% whereof 35% organic (39% organic growth excluding premium fees), with adjusted EBITDA of €1.8m (0.4)
- Positive cash flow from operations of €8.5m (4.9)
Operational Highlights
- GiG GiG Media reached another successive all-time high in quarterly revenue and player intake, FTDs ended at 115,900 (60,600), up 91%
- GiG Media entered into a new commercial partnership with News Corp UK & Ireland Limited for sports betting and casino content to their premium media websites The Sun and talkSPORT
- Agreement signed to acquire the casino affiliate websites AskGamblers.com, Johnslots.com, Newcasinos.com and several smaller domains
- Launched four brands, whereof two in Ontario, the newly regulated Canadian province
- Platform & Sportsbook signed six new agreements in the quarter
- Number of live brands were 62 at quarter end
- Awarded the ISO 20000 certification for the platform after an extensive review of internal service management system, framework and practices
Events after Q4
- Initiated strategic review for the purpose of separating the Company into two independent publicly listed companies
- Acquisition of AskGamblers was completed end of January with several initiatives to grow revenue and EBITDA for the asset being identified
- Commercial partnership with the Sun and talkSPORT delivers material results just few months into operations
- Signed three new agreements for Platform & Sportsbook
- January has developed positively, and revenues are up 29% compared to the same period last year, whereof 15% 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. See Note 2 in the Q4-2022 Interim Report for more details.
Investor presentation and webcast
CEO Richard Brown will present the Q4 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.
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Industry Awards
More awards for ProgressPlay

In the high-stakes world of iGaming, where innovation is the currency of success, ProgressPlay has once again proven its mastery, not once, but twice. The news has rippled through the industry like an electric current: ProgressPlay has been shortlisted for the prestigious EGR Awards 2025 in not one, but two fiercely competitive categories; Bingo Supplier of the Year and White Label Partner of the Year.
This double honour isn’t just a nod to outstanding technology; it’s a resounding endorsement of their core philosophy; that the future of iGaming belongs to those who empower operators, delight players, and push boundaries without compromise. These nominations follow hot-on-the-heels of a shortlist spot for “Industry Innovation of the Year” at the SBC Awards Europe 2025.
The journey to this moment began with a bold vision: to reinvent bingo for the modern era, having already established a significant position in the international white-label market with over a decade of success.
While others treated it as a legacy vertical, ProgressPlay saw untapped potential in bingo, a game steeped in community, ripe for innovation. The new bingo platform wasn’t just built; it was engineered to breathe new life into the category.
With data-driven player engagement tools, dynamic jackpot mechanics, and seamless mobile-first design, ProgressPlay transformed bingo from a nostalgic pastime into a growth engine for operators. The EGR shortlist is validation that the dynamic company didn’t just evolve bingo; it redefined it.
In a matter of weeks, ProgressPlay launched over 130 new bingo sites for operators in the UK market alone, showing that immaculate product development and rapid deployment go hand-in-hand.
But the story doesn’t end there. ProgressPlay’s White Label Partner nomination is where strategy meets scale. In an industry crowded with cookie-cutter solutions, ProgressPlay chose a different path, a partnership model that puts operators in the driver’s seat. From customisable loyalty programs to real-time revenue analytics, their white-label standalone platform became the launchpad for ambitious brands to carve their niche.
Marina Nahhas, Head of B2B Sales and Marketing, says: “Our team is delighted that the EGR Awards have recognised that at the heart of ProgressPlay’s standalone technology is its unparalleled flexibility. Unlike traditional white-label offerings, this standalone platform is a true turnkey solution, allowing operators to craft their own brand identity, select their preferred gaming content, and integrate the most effective payment methods suited to their target audience.”
Behind these accolades lies something deeper, a culture of relentless iteration. Where others see awards, the team at ProgressPlay see milestones in an ongoing mission. Every line of code, every partner success story, every late-night breakthrough has led here.
This ability to fine-tune every aspect of the standalone platform ensures that businesses remain ahead of the curve, delivering experiences that resonate deeply with local players while maintaining a globally competitive edge.
ProgressPlay CEO Itai Lowenstein said: “To our team, partners, and players, this latest double-shortlist is your triumph. But this isn’t a finale; it’s a catalyst. As we prepare for the EGR Awards ceremony, we’re already blueprinting the next leap forward, because in iGaming, standing still is the only true failure. Let’s make it just the beginning.”
The post More awards for ProgressPlay appeared first on European Gaming Industry News.
Latest News
Farming and explosives unite in this quirky new game from Peter & Sons

Get ready to run for cover as Peter & Sons latest release, Boom Farm, explodes onto the internet on June 19th, 2025.
Set in the deceptively peaceful countryside, this is no simple farming game. The 6×6 scatter-pays video slot hides a dynamite twist—literally. With TNT barrels, Star Bombs, Scatter Pays mechanics and thrilling Cascades, every harvest can explode into serious wins.
Peter & Sons is a game studio that likes to plow its own furrow creatively, and Boom Farm propels the developer’s signature art style and inventive game mechanics to new heights.
Land eight or more matching symbols to trigger a win, then watch as new symbols drop in to continue the chain. Hidden beneath many symbols are prize-packed Boxes—Wooden, Silver, or Golden—that open with each win or special explosive.
TNT barrels deliver hits to every box on the grid, while the Star Bomb blows them all to kingdom come at once for instant rewards.
Things get even crazier in the free spins round, because boxes don’t reset between spins. That means you get more chances to break them open and collect the rewards. Activate Boosted Free Spins through the Golden Bet or Buy Feature, and only the more valuable Silver and Golden Boxes WILL appear, giving you a better shot at a big payout.
With a max win of 5,000x, Boom Farm is volatile in every sense – exploding with fun, chaos, and playability.
Yann Bautista, Commercial Director and Founder at Peter & Sons said: “With Boom Farm, we wanted to deliver a game that feels both cosy and absolutely out of control. It’s a game about blowing stuff up and getting paid for it — and we think players are going to love the ride.”
The post Farming and explosives unite in this quirky new game from Peter & Sons appeared first on European Gaming Industry News.
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Evoplay strikes a darker tone with the launch of Oath of Steel

Evoplay, the award-winning game development studio, has released Oath of Steel, a moody, battle-driven slot that captures the raw intensity of knights locked in combat beneath storm-filled skies.
Set in a storm-soaked battlefield of iron masks and glowing castle windows, Oath of Steel brings players into a world where survival outweighs glory. With a moody visual style and heavy sound design, the game trades grandeur for grit, delivering a volatile experience with serious win potential.
Oath of Steel features a suite of engaging mechanics. The Wild symbol stands as the highest-paying symbol in the game, doubling as a substitute for regular symbols to support winning combinations. Meanwhile, landing three or more Scatters triggers a unique bonus round, where players select one of five Stacked symbols to boost their chances during Free Spins.
Adding to the tension, +1 Spin symbols can appear during the bonus mode, extending the round one spin at a time. For those ready to dive into the heart of the battle, a Bonus Buy option offers instant access to the Free Spins feature with a chosen number of Scatters.
Combining bold creative direction with player-focused mechanics, Oath of Steel stands out as a high-impact slot designed to capture attention and keep the reels spinning.
Ivan Kravchuk, CEO at Evoplay, said: “Oath of Steel is all about building an atmosphere that sticks with you. We did not want a polished fantasy; we wanted something heavier, more grounded, and sharper in tone.
“From the audiovisual execution to the feature structure, this release was built to immerse and challenge. It is a game that asks players to step into the fight and stay there.”
The post Evoplay strikes a darker tone with the launch of Oath of Steel appeared first on European Gaming Industry News.
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