Latest News
Gaming Innovation Group Reports Q2 2023
Gaming Innovation Group (GiG) Incorporated reports Q2 2023 revenues* of €31.1 million and an adjusted EBITDA of €14.0 million.
“The second quarter of 2023 has proven another step forward for GiG with the business reaching another all-time high in revenues,” the Chief Executive Officer for GiG, Richard Brown, said. “We now look into the second half of the year with total focus on ensuring strong growth mechanics, continued operational improvement and long-term scalability for GiG.”
Financial Highlights
- GiG achieved all-time high revenues* in Q2 2023 amounting to €31.1 million (22.1), an increase of 40% year-on-year whereof 22% organic
- Adjusted EBITDA was €14 million (8.3), up 68%, adjusted EBITDA margin* increased to 45% (37.5%), an all-time high and strong progress towards financial target goal of 50%
- EBIT was €6.6 million (2.4), an increase of 173% year-on-year with an EBIT margin* of 21.1% (10.8%)
- Revenues in GiG Media at all-time high of €21.7 million (14.8), an increase of 47% (20% organic), with an adjusted EBITDA of €10.3 (7.0)
- Revenues* for Platform and Sportsbook were €9.3 million (7.3), an increase of 27%, all organic, with adjusted EBITDA of €3.7 million (1.3), adjusted EBITDA margin* increased to 39.7% (17.2%)
- Profit before tax was €6.6 million (2.2), an increase of 197% year-on-year EPS was €0.05 (0.01)
- Positive cash flow from operations of €9.1 million (9.5)
Operational Highlights
- FTDs for GiG Media ended at 109,400 (79,400), up 38% year-on-year
- Ask Gamblers continued positive momentum with revenues in July up 45% from run rate at take over
- Signed final agreement with Palasino, powering the online entry of Trans World Hotels and Entertainment retail business through Palasino.com
- Platform and Sportsbook awarded licenses in Pennsylvania and Maryland, United States, and the new gambling software provider license in Sweden
- Successful launch and completion of migration of all GiG legacy Sportsbook clients to Sportnco solution
- Launched two new brands and signed three new agreements for Platform and Sportsbook in the quarter
- Awarded Full-Service Platform Provider and Multi-Channel Supplier of the Year at the 2023 EGR B2B awards
Events After Q2
- Signed one new agreement and three HOTs for Platform and Sportsbook
- Five additional brands have gone live so far in Q3 2023 including new market entries in Serbia and further expansion into Latin America, number of live brands is 65 as of today
- GiG’s platform and sportsbook live in the United States state of Maryland
- Appointed Richard Carter as new Platform and Sportsbook Chief Executive Officer and Jonas Warrer as Chief Executive Officer for GiG Media
- July has developed positively and revenues are up 30% compared to the same period last year, whereof 10% 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. See Note 2 in the Q2-2023 Interim Report for more details.
Investor Presentation and Webcast
Chief Executive Officer Richard Brown will present the Q2 2023 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
Almedia Hires 17 New Staff Fuelling Exponential Growth
– Powering the next generation of rewarded user acquisition –
Almedia, the data-driven platform engineering the future of mobile gaming user acquisition – today proudly announces a major hiring wave which includes over 17 people from leading global tech and gaming brands. The new hires are essential to Almedia’s ambitious strategy for achieving exponential growth across Europe and Northern America over the next 12 months.
The new team members will join an already established team, based in Berlin, with a current headcount of 80, supporting a global client base of mobile game developers and publishers. The expanded team joins established departments including product development, marketing, account management, fraud, and talent acquisition. The 17 new hires will drive Almedia’s core mission: elevating user acquisition to new heights and engineering the future of intelligent engagement.
Moritz Holländer, Chief Executive Officer and Founder at Almedia, commented: “Since 2020, we’ve been at the forefront of rewarded user acquisition, and our services and results are being embraced by the global mobile gaming industry, by companies such as Playtika, SuperPlay, Plarium, and Monopoly Go. Team Almedia is witnessing real-time exponential demand for its rewarded UA services, hence we have a robust scaleup roadmap in place to help us manage demand.”
He added: “What we’ve proudly achieved in four years is quite remarkable. With zero funding, a highly profitable organisation, we are humbled to be assembling a true dream team for the global mobile gaming industry. We are thrilled to welcome the latest waves of new hires to the team, which will help us to further establish our brand as the most credible, data-driven rewarded user acquisition company in the world.”
The new hires include
- Andrey Shilin, Lead Product Manager
- Holly Pickerell, Workplace and Culture Manager
- Sabina Halilovic, Fraud Analyst
- Alexander Rasch, Senior Finance Manager
- Alisson Paschoal Hausmann, Senior Mobile Developer
- Anthony Clement, SEO Manager
- April Chen, Senior Customer Success Manager;
- Benedikt Roth, Lead User Acquisition Google Ads Manager
- Caroline Sobkow, Talent Acquisition Partner
- Federica Stiscia, Senior Gaming Partnership Manager
- Marc Hammes, SEO Manager
- Mapa Vega, Senior Talent Acquisition Partner
- Pablo Herranz, Senior Talent Acquisition Partne
- Ravisankar Chinnam, Senior Frontend Developer
- Kutay Akalin, Data Scientist
- Aleksei Smagin, Junior Affiliate Specialist UA
- Neil Laverty, Senior Customer Success Manager
Almedia currently has a range of positions open across operations, talent, product, marketing and more. To learn more about careers at Almedia, visit the jobs section on the website.
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Huge Jackpot at King Billy Casino: C$3,658,306!
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About Games Global
Games Global is a supplier of the online gaming industry delivering force and direction to gaming with more than 1,300 top class games. The company has made a commitment to deliver the industry’s more disruptive ideas and compelling data-driven gaming experiences. Games Global features a total of 40+ partnered and in-house studios, services 600+ branded websites and boasts record-breaking jackpots with its worldwide network.
About King Billy Casino
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ZITRO INTRODUCES CASH TOTEMS: A MYTHICAL JOURNEY TO ANCIENT FORTUNES
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