Connect with us

WINNING COMBINATION - SOFTSWISS develops innovative iGaming software products for online casino, sports betting, and beyond. Our products can be delivered as standalone solutions or combined into a single iGaming Platform.

The future of sports betting: BETBY sportsbook is focused on innovation through deep industry knowledge, state-of-the-art software & endless customization possibilities.

Latest News

Gaming Innovation Group reports Q2 2022

Published

on


Gaming Innovation Group expands its reach in online gaming with the acquisition of Casinomeister
Reading Time: 2 minutes

Gaming Innovation Group Inc. (GiG) reports Q2 2022 revenues* of €22.1 million and an adjusted EBITDA of €8.3 million.

“The strong momentum that we carry forward in Q2 and the exciting milestone of completing the acquisition of Sportnco on April 1st, position our business for continued growth and escalating profitability levels”, says Richard Brown, CEO of GiG.

Financial Highlights

  • All time high revenues* in Q2 2022 amounting to €22.1m (16.1), an increase of 37% YoY, whereof 24% organic
  • Adjusted EBITDA was €8.3m (5.6), up 47%, adjusted EBITDA margin* increased 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 high of €14.8m (11.0), an increase of 35%, with an all-time high adjusted EBITDA of €7.0m (5.3)
  • Revenues* for Platform & Sportsbook were €7.3m (5.1), an increase of 43% whereof 2% organic (12% organic growth excl. premium fees), with an adjusted EBITDA of €1.3m (0.3)
  • Positive net profit of €1.3m (-0.5) with an EPS of €0.01
  • Positive cash flow from operations of €9.5m (3.5)

 

Operational Highlights

  • Acquisition of Sportnco completed on 1 April
  • GiG Media reached a sixth successive all-time high in quarterly revenue and player intake, FTDs ended at 79,400 (46,800), up 70%
  • Signed with Tier 1 retail operator Aspers in the UK for the provision of its turnkey managed service solutions
  • First agreement combining the offering from both GiG and Sportnco was signed with Full Games in Angola for both Sportsbook, PAM and managed services, positioning GiG in the exciting emerging African markets
  • Signed head of terms agreement with US based sports betting brand, Crab Sports, to provide Platform and Sportsbook solution in Maryland, the first deal for the combined offering in the US
  • Four additional agreements signed in the quarter, including extension with Betway for the provision of Sportsbook and PAM for Portugal, and new market entries in Spain and Colombia
  • Number of live brands were 58 at quarter end
  • GiG Media was awarded “best casino affiliate” award at the IGB Affiliate Awards in London

 

Events after Q2

  • Signed an agreement with Betsson Group for platform in Colombia
  • Signed extension with Grupo Boldt in Latam for two additional regulated markets for their Bplay brand
  • Granted a supplier license for Ontario, allowing GiG to partner with operators based in the newly regulated Canadian province
  • Three brands have gone live so far in Q3 2022, and the remaining integration pipeline projects are progressing towards their project plans
  • July has developed positively, and revenues are up 37% compared to the same period last year, whereof 24% 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 Q2-2022 Interim Report for more details.

Hunor is a Content Editor at Hipther Agency and studies biomedical engineering at the Technical University of Cluj-Napoca, Faculty of Electrical Engineering. He is an open-minded person, always willing to try new things and give back something to the community through his work. He has participated in several volunteering activities and is currently working in event organization of the Hungarian Students Union of Cluj (HSUC), the Hungarian Students’ Union of Romania (HSUR), and ÉRTED, a Transylvanian Hungarian student initiative working in the fields of culture, science, economy, and environment. You can reach Hunor at [email protected].

Advertisement

Advertisement

Level up, Lead The market with AFFINA Partners

Advertisement

Golden Boomerang Awards is a prestigious event that offers the chance to compete against top webmasters worldwide and grab golden figurines, prizes, and cash rewards.

Trending (Top 7)

Discover the Magic of EuropeanGaming.eu – Your Gateway to the Gaming Universe

At the heart of the ever-evolving gaming and gambling industry lies EuropeanGaming.eu, a trailblazing online platform that has become the go-to destination for industry professionals, enthusiasts, and stakeholders. As part of HIPTHER, we’re redefining how the gaming world connects, informs, and inspires.

More Than News – A Hub of Insight and Innovation

Reaching over 300,000 readers monthly, EuropeanGaming.eu goes beyond headlines to deliver compelling stories, expert insights, and the latest industry news. From regulatory updates and compliance breakthroughs to the pulse-pounding world of esports and technological advancements, we provide comprehensive coverage of the topics that matter most:

  • Online and Land-Based Gaming
  • Betting and Esports
  • Regulatory and Compliance Updates
  • Cutting-Edge Technology in Gaming

Whether it’s daily news, exclusive interviews with industry leaders, in-depth event reports, or press releases that set the tone for the future, our content resonates with a global audience while maintaining a focus on Europe’s dynamic gaming market.

Bringing the Industry Together

Our impact doesn’t stop at digital content. EuropeanGaming.eu is a proud host of virtual meetups and industry-leading conferences that spark dialogue, foster collaboration, and drive innovation. Through detailed reports and live events, we create a space where operators, suppliers, regulators, and professional services come together to shape the future of gaming.

Why EuropeanGaming.eu?

At HIPTHER, we believe in empowering the gaming community with knowledge, connection, and opportunity. EuropeanGaming.eu embodies this spirit by serving as a one-stop resource for the latest trends, market developments, and global perspectives. Whether you’re an industry veteran, a rising operator, or a gaming enthusiast, this is where you find the stories that drive progress.

Get In Touch

Let’s shape the future of gaming together!


Copyright © 2015 - 2025
European Gaming is proudly part of HIPTHER. Registered in Romania under Proshirt SRL, Company Number: 2134306, EU VAT ID: RO21343605.
Office Address: Blvd. 1 Decembrie 1918 nr.5, Târgu Mureș, Romania

Join us as we celebrate a decade of delivering excellence and embrace the magic of what’s to come in 2025 and beyond!

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.