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Gaming Innovation Group reports Q3 2022

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Gaming Innovation Group reports Q3 2022
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Gaming Innovation Group Inc. (GiG) reports Q3 2022 revenues* of €22.9 million and an adjusted EBITDA of €8.5 million.

I am pleased with the development and performance of GiG over the third quarter. The business delivered another record quarter with revenue growth up 35% year-over-year”, says Richard Brown, CEO of GiG.

Financial Highlights

  • All time high revenues* in Q3 2022 of €22.9m (16.9), an increase of 35% YoY, whereof 24% organic
  • Adjusted EBITDA was €8.5m (5.8), up 47%, adjusted EBITDA margin* increased to 37.0% (34.1)
  • EBIT was €2.5m (2.1), with an EBIT margin* of 10.8% (12.6%)
  • Revenues in GiG Media at all-time high of €15.1m (11.2), an increase of 35%, with an adjusted EBITDA of €6.8 (5.1)
  • Revenues* for Platform & Sportsbook were €7.8m (5.7), an increase of 36% whereof 3% organic (14% organic excl. premium fees), with adjusted EBITDA of €1.7m (0.6)
  • Positive net profit of €0.6m (0.0)
  • Positive cash flow from operations of €10.0m (8.0)

Operational Highlights 

  • GiG Media reached a seventh successive all-time high in quarterly revenues and player intake, FTDs ended at 86,500 (46,700), up 85%
  • Granted a supplier licence for Ontario province in Canada, first two brands live in Q4
  • Platform & Sportsbook signed six new agreements in the quarter, whereof three in Europe, two in LATAM and one in North America
  • Four brands went live in Q3 2022, and the number of live brands were 62 at quarter end

Events after Q3

  • Signed agreement to power a leading land-based operator’s online expansion, strengthening GiG’s position within the large and growing LATAM market
  • Three brands have gone live so far in Q4 2022
  • October has developed positively, and revenues are up 34% compared to the same period last year, whereof 22% organic growth
  • GiG Media reached all-time high player intake in October 2022

*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 Q3-2022 Interim Report for more details.

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$1M Thunderpick World Championship 2024: Teams and Finals Details Announced!

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Thunderpick World Championship 2024 Announces Finals Dates and Teams

HEROIC, M80, Fnatic, and Falcons Among Teams to Compete for $1,000,000 Prize Pool in Championship Finals Commencing on Oct. 21

Thunderpick World Championship, a global professional CS2 tournament with a record-setting $1 million (USD) prize pool, announced today it will bring together the best players and teams in the world, including HEROIC, M80, Fnatic, and Falcons, to compete in its 2024 Finals, culminating in a two-day live event in Berlin, Germany on Nov. 2.

Leading up to the Grand Finals, teams — which also include Bestia, BIG Clan, BLEED, Cloud9, Imperial and Team Legacy — will compete in the online Group Stage on Oct. 21 to 25; and the Quarterfinals on Oct. 26. This follows six qualifier rounds across three global regions – Europe, North America and South America – which started in April.

“The Thunderpick World Championship 2024 is shaping up to be one of the most exciting tournaments of the year,” said Kelly Sanders, Head of Strategy for Thunderpick. “With the caliber of teams and record-setting prize pool, we can expect intense competition and high-quality gameplay that will captivate fans and players around the world.”

GRID is the official esports services provider and data partner of the Thunderpick World Championship. GRID’s comprehensive suite, featuring cutting-edge tournament tools, data visualization, and robust infrastructure, will be pivotal in enhancing the integrity, security, and commercial potential of the Thunderpick World Championship 2024.

This is the second year of the Thunderpick World Championship. In 2023, the total prize pool was $600,000 and FaZe Clan won the Grand Final.

 

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Industry News

Andrew Cardno to Speak at Mid-year IGA about Safeguarding Data in AI-Enabled Tribal Casinos

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Andrew Cardno, the Chief Technology Officer of Quick Custom Intelligence, a recognized expert in data analytics and gaming technology, will be a featured speaker at the upcoming Mid-Year Indian Gaming Association (IGA) conference at the Tulalip Resort Casino in Tulalip, Washington. He will deliver a presentation on the critical topic of “Safeguarding Data in AI-Enabled Tribal Casinos.”

As Artificial Intelligence (AI) continues to revolutionize the gaming industry, its integration into casino operations has opened new avenues for enhancing player experiences, optimizing business strategies, and improving overall security. In his session, Cardno will explore how AI is not just a tool for innovation but also a pivotal element in maintaining the integrity and safety of tribal casinos.

Cardno’s presentation will delve into several key areas:

  • Personalized Player Experiences: Demonstrating how AI can tailor game recommendations to individual players, creating more engaging and customized gaming experiences.
  • Advanced Security Measures: Highlighting AI’s capabilities in detecting and preventing fraudulent activities, ensuring a secure gaming environment.
  • Optimized Pricing Strategies: Discussing how AI can help casinos adjust pricing dynamically to maximize revenue and enhance profitability.
  • Enhanced Customer Service: Showcasing the use of AI-driven chatbots to provide efficient and personalized customer support, improving player satisfaction.
  • Refined Marketing Approaches: Examining how AI can refine marketing strategies for more targeted outreach, ensuring the right messages reach the right audiences.

Cardno will also provide insights into how AI-driven efficiencies can significantly reduce operational costs, allowing tribal casinos to allocate resources more effectively and make data-informed decisions that boost overall profitability.

“AI is transforming the landscape of casino operations, offering unprecedented opportunities for growth and innovation,” said Cardno. “However, with these advancements comes the critical responsibility of safeguarding data. My session will focus on how tribal casinos can leverage AI to enhance their operations while ensuring that data security remains a top priority.”

Victor Rocha, Conference Chair of the Indian Gaming Association, expressed his enthusiasm for Cardno’s participation. “We are thrilled to have Andrew Cardno speak at this year’s Mid-Year IGA conference,” said Rocha. “His expertise in AI and data analytics is unparalleled, and his insights on safeguarding data in AI-enabled tribal casinos come at a crucial time for our industry. This is an important topic that impacts the future of gaming, and we are excited to offer our attendees the opportunity to learn from one of the best in the field.”

The Mid-Year IGA conference is a premier event that brings together industry leaders, tribal gaming executives, and technology experts to discuss the latest trends and challenges in the gaming sector. Andrew Cardno’s presentation, on Wednesday September 18th at 9am, is expected to be one of the highlights of the conference, providing attendees with actionable insights into the future of AI in tribal casinos.

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Industry News

Clemence Dujardin, MyAffiliates Group CEO, to speak at SBC Lisbon to unveil ‘What is Next for the Gambling Industry’

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MyAffiliates, a leading affiliate tracking software platform in the iGaming market, announces that their Group CEO, Clemence Dujardin, will be a key speaker at the forthcoming SBC Summit in Lisbon this month – providing insightful words on the future of the gaming industry as part of a highly coveted inspirational panel.

In 2023 Clemence Dujardin was recognised by iGB as one of the top 10 most influential women in the iGaming industry. Joining MyAffiliates in 2012, she is today their Group CEO, and highly well regarded across the industry. Her background spanned a number of  industry sectors, including affiliate management and affiliate software technology companies before joining MyAffiliates, based in Malta.

Her exceptional leadership and contributions have been recognised with prestigious awards, including Malta’s Best Gaming Woman Leader of the Year in 2018 and 2019 and CEO Woman Of The Year at SiGMA in 2021. .

Her panel speaker slot at the SBC Summit, Lisbon will take place on the Super Stage – MEO Arena at 11.30-12.15pm on Thursday 26th September. It will answer ‘The Big Question: What is Next for the Gambling industry?’

Clemence will explore the future of sports betting, casinos, and affiliations as the panel will delve into the latest trends shaping the gambling industry. Experts predict significant digital integration and regulatory shifts that will redefine the landscape – and something Clemence will articulate in order to provide invaluable insights into these transformative trends.

Clemence Dujardin, Group CEO at MyAffiliates comments, “With ever tighter regulation, combined with increasingly enhanced digital capabilities, the gambling sector continues to provide exciting opportunities across the industry for business and growth. We’re witnessing this in affiliate marketing for the sector, and have done for some time. I’m thrilled to be joining this inspiring panel at the SBC Summit. Lisbon and look forward to a valuable discussion.”

MyAffiliates is an established affiliate marketing software platform, empowering iGaming operators to combine all of their gaming brands and products under one umbrella affiliate system. It has been in operation since 2007. In April 2024 it was publicly named as the ‘most used affiliate marketing software’ within the gaming industry following StatsDrone research.

As well as Clemence Dujardin, she will be accompanied at SBC Summit, Lisbon throughout by Milan Vucicevic, Head of Sales and Kurt Caruana, Brand Manager, both at MyAffiliates.

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