Gaming Innovation Group reviews Q2 2022

ST JULIANS, Malta, Aug. 16, 2022 /PRNewswire/ –Gaming Innovation Group Inc. (GiG) reviews Q2 2022 revenues* of €22.1 million and an adjusted EBITDA of €8.3 million.

“The sturdy momentum that we stock ahead in Q2 and the thrilling milestone of finishing the acquisition of Sportnco on April 1st, place our enterprise for continued progress and escalating profitability ranges”, says Richard Brown, CEO of GiG.

Monetary Highlights         

  • All time excessive revenues* in Q2 2022 amounting to €22.1m (16.1), a rise of 37% YoY, whereof 24% natural           
  • Adjusted EBITDA was €8.3m (5.6), up 47%, adjusted EBITDA margin* elevated to 37.5% (35.0)           
  • EBIT was €2.4m (2.3), with an EBIT margin* of 10.8% (14.3%)           
  • Revenues in GiG Media at all-time excessive of €14.8m (11.0), a rise of 35%, with an all-time excessive adjusted EBITDA of €7.0m (5.3)           
  • Revenues* for Platform & Sportsbook had been €7.3m (5.1), a rise of 43% whereof 2% natural (12% natural progress excl. premium charges), with an adjusted EBITDA of €1.3m (0.3)           
  • Constructive internet revenue of €1.3m (-0.5) with an EPS of €0.01           
  • Constructive money circulate from operations of €9.5m (3.5)

Operational Highlights            

  • Acquisition of Sportnco accomplished on 1 April           
  • GiG Media reached a sixth successive all-time excessive in quarterly income and participant consumption, FTDs ended at 79,400 (46,800), up 70%           
  • Signed with Tier 1 retail operator Aspers within the UK for the availability of its turnkey managed service options           
  • First settlement combining the providing from each GiG and Sportnco was signed with Full Video games in Angola for each Sportsbook, PAM and managed providers, positioning GiG within the thrilling rising African markets           
  • Signed head of phrases settlement with US based mostly sports activities betting model, Crab Sports activities, to offer Platform and Sportsbook answer in Maryland, the primary deal for the mixed providing within the US
  • 4 extra agreements signed within the quarter, together with extension with Betway for the availability of Sportsbook and PAM for Portugal, and new market entries in Spain and Colombia          
  • Variety of dwell manufacturers had been 58 at quarter finish          
  • GiG Media was awarded “finest on line casino affiliate” award on the IGB Affiliate Awards in London

Occasions after Q2           

  • Signed an settlement with Betsson Group for platform in Colombia          
  • Signed extension with Grupo Boldt in Latam for 2 extra regulated markets for his or her Bplay model           
  • Granted a provider license for Ontario, permitting GiG to associate with operators based mostly within the newly regulated Canadian province  
  • Three manufacturers have gone dwell to date in Q3 2022, and the remaining integration pipeline tasks are progressing in the direction of their undertaking plans         
  • July has developed positively, and revenues are up 37% in comparison with the identical interval final 12 months, whereof 24% natural progress

*Revenues are adjusted for revenues from a platform consumer the place GiG acknowledges the complete operations in its revenue and loss assertion, that are partly offset by associated price of gross sales and website overheads. Value of gross sales, advertising bills and EBITDA-margin are adjusted accordingly. See Notice 2 within the Q2-2022 Interim Report for extra particulars.

Investor presentation and webcast
CEO Richard Brown will current the Q2 2022 outcomes by way of livestream at 10:00 CET. The presentation will likely be adopted by a Q&A-session, and buyers, analysts and journalists are welcome to take part. The presentation will likely be given in English.

Hyperlink to the livestream:

For additional data, contact:
Richard Brown, CEO of GiG, [email protected] +34 661 599 025
Tore Formo, Group CFO, [email protected] +47 91668678

This data is data that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The data was submitted for publication, by way of the company of the contact individual set out above, at 08:00 CET on 16 August 2022.

About Gaming Innovation Group (GiG)
Gaming Innovation Group is a number one iGaming expertise firm, offering options, services and products to iGaming Operators. Based in 2012, Gaming Innovation Group’s imaginative and prescient is ‘To be the trade main platform, sportsbook and media supplier delivering world class options to our iGaming companions and their prospects. GiG’s mission is to drive sustainable progress and profitability of our companions by way of product innovation, scalable expertise and high quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Inventory Change below the ticker image GIG and on Nasdaq Stockholm below the ticker image GIGSEK.

Authorized disclaimer
Gaming Innovation Group Inc. provides forecasts. Sure statements within the report are forward-looking and the precise outcomes could also be materially completely different. Along with the elements mentioned, different elements may have an effect on precise outcomes. Such elements embody developments for patrons, opponents, the influence of financial and market circumstances, nationwide and worldwide laws and laws, fiscal laws, the effectiveness of copyright for pc techniques, technological developments, fluctuation in alternate charges, rates of interest and political dangers.

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