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Gaming Innovation Group Reports Q2 2023

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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.

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7-Eleven selects Jackpot.com as their official lottery partner

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Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.

Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts  

Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.

As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.

“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”

By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.

Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.

To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.

 

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eSports

The World Esports Summit 2024 Is Here!

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The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.

This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the

Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.

The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:

  • (R)Evolution in Esports
  • East Meets West
  • Esports Integrity: The Role of Referees
  • The Rise of International Esports Competitions
  • (In Korean) Korea’s Secret Sauce etc.

Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.

These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.

Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.

Registration for the World Esports Summit is free and open to all interested attendees.

To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration

See you in Busan!

 

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eSports

Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference

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Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience.

As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.

Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.

Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC  key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .

“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are  committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.” 

Looking ahead to ICE Barcelona, Akhil Sarin stated:  “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”

He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”

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