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Gaming Innovation Group reports Q2 2020

George Miller

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Richard Brown, CEO of GiG
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Gaming Innovation Group Inc. (GiG) reports Q2 2020 revenues of €16.7 million and an EBITDA of €2.8 million.

“Q2 was a strong start for GiG as its first quarter as a B2B only company, and the signings after the quarter confirm further my confidence that the Company can continue to grow and flourish which will deliver shareholder value in the years to come.”, says Richard Brown, CEO of GiG.

Financial Highlights

  • Continued quarterly growth with revenues in Q2 2020 of €16.7m (11.3), 47% growth Y/Y and 49% Q/Q
  • EBITDA in Q2 2020 was €2.8m (1.5), 93% growth Y/Y and 382% Q/Q. EBITDA margin of 17.0% (13.0%)
  • Revenues in Media Services were €8.6m (8.6) in Q2 2020, EBITDA was €4.8m (4.7) with all time high for Paid
  • Revenues in Platform Services were €8.2m (4.2) in Q2 2020, EBITDA was €-0.9m (-1.1)
  • EBITDA for Sports Betting Services improved to €-0.9m (-1.5) due to reduction in operating expenses by 44%
  • Cash flow from operations in Q2 2020 was €10.1m (3.2) and cash used in investing activities was €1.5m (3.5).

Operational Highlights

  • The B2C vertical was divested to Betsson effective on 16 April 2020, with Betsson as a new long term customer on Platform Services
  • Media Services continued its quarterly growth in both revenue and FTDs, up 5% and 22% respectively
  • SkyCity’s successful online expansion in 2020 confirms GiG’s ability to transition a land based casino to online
  • Signed long-term agreement with GS Technologies Limited for the provision of GiG’s platform and front-end development to a new casino brand
  • The sales pipeline developed positively, however some of the final contract negotiations was delayed as land based operators came to terms with actions around Covid-19
  • Cost savings initiatives are progressing according to plan, which is expected to further reduce operating expenses by year end 2020
  • The number of employees decreased from 709 to 487 year-on-year
  • The SEK300 million bond was repaid on 22 April 2020.

Events after Q2

  • Signed three new long-term agreements for GiG’s platform including sports and managed services, further agreements are expected to be signed before year end
  • The positive development continues after Q2, July revenues on adjusted basis were up 38% compared to same period last year
  • The revenue guiding for continued operations for 2020 are increased to between €52 – 57 million, with an EBITDA expected in the range of €12 – 15 million.

Investor presentation and webcast

CEO Richard Brown will present the Q2 2020 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.

Latest News

Betsoft Gaming Goes Back to the Future with Latest Release MILES BELLHOUSE AND THE GEARS OF TIME

Niji Narayan

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etsoft Gaming Goes Back to the Future with Latest Release MILES BELLHOUSE AND THE GEARS OF TIME
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Betsoft Gaming is going to launch its new game “Miles Bellhouse and the Gears of Time” next month.

The game showcases Steampunk themes and iterations of dynamic scientist, Miles, and his sidekick robot, Gizmo, at different ages. The action moves quickly but randomly: Past, Present, Future and back again – all can give you the chance to stay one jump ahead for untold pay-out potential. The game is slated for release on 5 November 2020.

Timepieces, aviator goggles, cogs and wheels – even Miles and Gizmo – are symbols and fly around the grid. Bronze coloured tubes emit blasts of steam, piercing whistles and blazing lights. ‘Brain waves’ literally flash across the screen to land on the squares, while an electrifying soundtrack adds to the excitement.

Using Betsoft’s renowned technical expertise, Miles Bellhouse and the Gears of Time delivers 5×5 reels where players can form winning clusters of symbols in a unique Cluster Pays system. With 1 or more Clusters on selected positions, you raise the chance of triggering the Time Travelling features – Past, Present and Future.

“Betsoft Gaming is renowned for the quality of its releases and Miles Bellhouse and the Gears of Time is no exception. The sequel is world class and is sure to be a hit with players. From gamification, theme, features and mechanics – the game shows that Betsoft continues to deliver to both our clients and players,” Kai Botha, Marketing Manager at Betsoft Gaming, said.

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Industry News

GameArt Joins Stakelogic’s Greenlogic Partner Programme

Niji Narayan

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GameArt Joins Stakelogic’s Greenlogic Partner Programme
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GameArt, the leading provider of high-quality digital gaming products, has partnered with Stakelogic to take advantage of its Greenlogic programme.

GameArt will now have access to over 500 operators worldwide through the Stakelogic developer’s partner platform, significantly boosting GameArt’s global presence and introducing their unique content to new markets.

Offering access to some of the biggest names in the industry, such as Kindred, Pokerstars, GVC and Betsson, the Greenlogic partner platform has already proven extremely popular and gained industry-wide recognition, attracting well established providers and some of the best up-and-coming studios to join its family.

“Our Greenlogic partner program has been an unparalleled success to date, and this is only emphasised by GameArt becoming the latest studio to sign on. It is our aim at Stakelogic to provide the very best gaming content available, either through our own talented in-house studio or via the impressive capabilities of independent studios who may be finding it hard to gain a foothold in such a competitive market place, or choose to fully focus on game development. GameArt is a stellar signing for Greenlogic and we look forward to working with their team for many years to come,” Stephen van den Oetelaar, CEO of Stakelogic, said.

“This is a pivotal moment in GameArt’s history and one which demonstrates the level of excellence our dedicated team have reached in the art of game development. Being able to offer our extensive library of games to even more operators across even more markets is a very exciting prospect, and one which we intend to grasp with both hands,” Stefano Picone, CEO of GameArt, said.

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eSports

Epic Esports Events invites streamers to collaborate

George Miller

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Epic Esports Events invites streamers to collaborate
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Epic Esports Events invites independent streamers to collaborate in the second season of EPIC League. The tournament organizers are also announcing recruitment of community casters for the official broadcasts of the season’s games.

Mark Averbukh, Epic Esports Events Product Director:

“Epic Esports Events is inseparable from the esports community. We are confident that the synergy between the EEE and the audience can deliver amazing results. We respect the work of independent streamers and we are certain that the community should have a choice in which voiceovers to watch the EPIC League. Therefore, we have developed a proposal which lets streamers comment with minimal delay, and we hope that many people will be interested.“

Independent streamers can broadcast EPIC League Season 2 content on their channels, subject to the following conditions:

  • No visual and voice advertising;

  • Every 60 minutes streamers are to post a link to the official broadcast of the event in the chatbot. For example: “Official broadcast is available on https://www.twitch.tv/dota2ruhub and https://www.twitch.tv/epicenter_en1”;

  • 15 minutes delay after the broadcast on Dota TV;

  • Using a unified broadcast name, e.g. “EPIC League TEAM1 vs TEAM2”*.

Community casters are also invited to collaborate. Pre-qualified community casters will be able to stream EPIC League matches with minimal latency, as well as receive tournament rewards.

Streamers interested in cooperation must fill out the form by November 2 and specify the most convenient format for them to work at the tournament. This offer is limited.

 

*The tournament organizer reserves the right to change / supplement the list of conditions after posting the appropriate notification on the website and social networks.

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