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Gaming Innovation Group reports Q2 2022

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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.

Compliance Updates

1Click Games receives the prestigious ISO 27001 Information Security Certificate

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The ISO 27001 certificate is a worldwide information security management standard that allows organizations in the online gambling industry and other sectors to manage asset security. It establishes, in particular, how information security risk management processes should be built and what controls should be used. ISO 27001 certification allows 1Click Games to offer additional guarantees to our customers regarding information security and data processing.

This year, the compliance of 1Click Games with ISO 27001 international standards was checked by one of the world’s leading independent auditors. The auditors assessed how our services comply with the requirements of the International Organization for Standardization, including management processes, the use of technologies and equipment. The analysis showed that the risk management system in the services is built and developed on the basis of the best world practices and fully provides the necessary information protection.

Maxim T., CEO at 1Click Games, says: “Data protection is one of the cornerstones of our business, and ISO 27001 certification demonstrates how seriously we take this responsibility and these strict standards. The certification process, took many hours of detailed checks. However, along with the satisfaction of the result, we recognize that this is only part of our ongoing responsibility to ensure the maximum possible safety of our customers. Besides, information security is never a static process, and in order to continue to set our services at the highest possible level, we requested one of the strictest certificates — ISO 27001 — and received it.”

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Gaming

Top 5 latest charming iGaming brands out of the European Market

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It is no secret that the iGaming market is on the rise, with new iGaming operators and software providers constantly appearing. It might be, therefore, difficult to find those with unique offerings. We have put together a list of some of the rising stars of the industry present on the European market.

AFUN

AFUN Entertainment Group specializes in game development, payment system development and product data analysis. It is among the best legally licensed Sportsbook and iGaming platforms, with more than 1,500 game products and 30,000 sports events.

Present across Europe, America and Asia, the AFUN Group is licensed by Curaçao and has obtained an offshore gaming license from the Gambling Commision of the Government of Malta. With over 20 years of experience, the company has recently entered Latin America with one goal in mind: to guarantee the best online experience and provide each user with a personalized gaming experience on a trustworthy platform. It has already shown promising growth on the Brazilian market.

Check out their website with a wide range of games and keep up with the latest updates through their LinkedIn page.

Wazdan

Wazdan leads the way on innovation in casino content development. With a portfolio of over 150 cross-platform casino games, the company promises amplified performance and revenue growth.

The company adopts a partner-centric approach, offering tailored services and products that best align with their clients’ growth strategy. Wazdan also aims to stay innovative by constantly expanding its cutting-edge player-engagement suite, while respecting all the requirements of the regulatory regimes, promoting responsible gaming.

The company has been in the market for 10+ years pushing iGaming technology forward, which undoubtedly earns a place for them on our list.

Softswiss

Softswiss offers software for online casinos and bookmaking websites. What makes this company stand out is that their products can be delivered as standalone solutions or combined into a single iGaming Platform.

Softswiss was awarded the Best Online Casino Provider in the Nordics 2022 (B2B) award at the Baltic and Scandinavian Gaming Awards. Beyond its casino platform – an exceptional, scalable, iGaming platform with high-speed of operation and intuitive management – the company’s portfolio includes:

  • Game Aggregator – Bringing together 170+ casino game studios with over 11,000 mobile-friendly games via a single API integration
  • Softswiss Sportsbook – A unique high-performance platform for sports betting operations
  • Affilka – Affiliate Management Platform
  • Jackpot Aggregator – Enabling customized jackpot campaigns
  • Softswiss Lottery Terminal – An all-in-one lottery system for any land-based operation

With such a wide range of offerings and further services, including anti-fraud support, player retention and content management, the company deserves this spot on the list.

Stakelogic

Best known for its online slots and live casino games, Stakelogic offers a wide selection of casino games and works with over 500 operators in 20+ countries. The company’s slogan ‘Think Bigger’ highlights its commitment to innovation, as the company constantly works to revolutionize the online gaming industry.

Stakelogic creates graphic slots and live casino games that represent the most advanced online games available on the market. Every product is tweaked and tuned to the level of ultimate user experience.

Over the years, the company has collected 7 awards for its outstanding performance. With 10+ live studios, 3 game shows and 250+ unique slots, Stakelogic is changing the way players play.

Apparat Gaming

Apparat Gaming is a relatively new player on the iGaming market, but is already showing promising results. Founded in 2020 by a team of industry veterans, the company is on a mission to develop “slot games with a German accent”.

Apparat Gaming develops slots of the highest artistic quality, with German technical standards. The company secured a licence from the Malta Gaming Authority in 2021 and has since become the trusted supplier of online content for operators in Germany and other European markets.

As the last contender on our list, Apparat Gaming delivers on the German stereotype: high-quality products, reliability and commitment. And absolutely no sense of humor. This is iGaming with a German Accent.

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Fasten your seatbelts – Pilot from Gamzix is out!

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Fasten your seatbelts – Pilot from Gamzix is out!
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Gamzix, igaming development studio, has announced the release of its first crash game “Pilot”. This is the 30th game from Gamzix provider. To celebrate this small anniversary was released something as good as video-slot, but different.

There are 3 essential facts of the crash game “Pilot”:

– 2.4 Mb weight. It’s from 30% to almost 350% lighter than competitors have.
– Different skins. All skins will be under the same game ID, so there is no need to add a new game. Also, there is a plan to add new skins every month and there will be a lot of thematic skins for sport events, holidays etc.
– Pilot is supported via web view (Telegram/Viber/WhatsApp and others).

“First Crash Game in Gamzix portfolio, and we can’t be more proud and excited about it. Because every time we do something different, every team-member sees his/her growth in real time. And this is preparing us for the new big jump”, – Alexandr Kosogov, CEO at Gamzix.

Enjoyable sounds with imitation of plane take off fulfill every round of the game. There is an ability to change skins for individual casinos, fair play and support for 22 localizations and for all types of currencies (FIAT+Crypto).

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