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.
Conferences in Europe
Exhibition Spaces for European Gaming Congress 2024 Sold Out!
HIPTHER, the organizer of premier boutique events for iiGaming and Technology across Europe, is thrilled to announce that all tabletop booth spaces for exhibitors and sponsors of the European Gaming Congress (EGC) are officially sold out.
Building on a legacy of success over the past eight years – and following a resounding 2023 edition – the European Gaming Congress has become one of the most popular industry conferences, bringing together key players and bright minds of iGaming, discussing cutting-edge trends and forging partnerships that shape the industry’s future.
In 2024, the Congress is set to make waves by embracing HIPTHER’s “Via Infinita” principles: it extends to a knowledge-packed 2-day Agenda, exploring Gaming Compliance, focusing on iGaming Operators and Affiliates, while expanding its horizons to Blockchain, Fintech, Marketing Communications, as well as Corporate Culture.
The growing success of the event has sparked increased interest from leading-edge and renowned companies alike. Notable B2B gaming brands, popular operators, cryptocurrency innovators, and forward-thinking investment funds are seizing the opportunity to showcase their brands and enrich their networks at EGC 2024.
Join us in Warsaw to connect with and learn more about:
- Promatic Games and Promatic Group
- Xanada Investments
- BET
- NSoft
- Zondacrypto
- Superbet
- LV Bet
- Nordic Gambling
- RM Legal
- Gaming in Poland
- Polish Chamber of Commerce for the Entertainment and Bookmaker Industry (PIGBRiB)
The EGC Conference series offers a perfect blend of intimacy and exposure, creating an ideal environment for networking and business development. With decision-makers from across the gambling, payments, technology, and compliance sectors, the event is a unique opportunity to gain valuable insights and allies – supporting your business needs, both external and internal.
Don’t miss the chance to connect with these dynamic brands and industry leaders at the European Gaming Congress 2024 in Warsaw, on 15-16 October!
Reserve your spot now: https://hipther.com/events/egc/regwarsaw/
Latest News
SkillOnNet Launch Live Arcade Game ‘The Coin Pusher,’ with Betterlore
SkillOnNet and Betterlore have unleashed a completely unique game on the industry, one that marries the nostalgia of traditional arcades with a truly high-tech experience. ‘The Coin Pusher’ lets players control real coin-pushing machines beamed live into their homes from Betterlore’s studios in Europe. This one-of-a kind gaming experience is now live on the SkillOnNet network in selected markets and then rolled out globally in the coming months.
Coin-pushers, also known as penny pushers or dozers, are popular in end-of-the-pier arcades the world over. The Coin Pusher works in exactly the same way. Players drop coins into the playfield, aiming to push others over the edge. Then they sit back and watch the action in real time, with each coin and chip that falls instantly credited into the player’s wallet.
With over 100 playfields in different configurations available, players always have access to a game, though each player can only control one playfield at a time. The Coin Pusher guarantees minimal latency, ensuring a smooth, real-time gameplay that accurately reflects each move and coin drop.
It’s the first game from Betterlore, a startup that aims to couple popular physical machines with the power of online technologies. In doing so, the company says it is building an entirely new category of online gaming involving live mechanics and two-way interactions between the player and gaming machine in real time.
SkillOnNet is a global entertainment powerhouse that operates dozens of market-leading igaming brands in numerous regulated jurisdictions across the world. These include household names like PlayOJO in the UK and Ontario; PlayUZU in Spain, Mexico, Peru and Buenos Aires City; BacanaPlay in Portugal, and DrueckGlueck in Germany.
Jani Kontturi Head of Games at SkillOnNet said: “This is not just about pushing coins, it’s also about pushing boundaries. The Coin Pusher blends the excitement of classic arcade machines with the convenience of online gaming – and you won’t find anything like it anywhere on the internet. Betterlore is a truly exciting new company that is bringing completely new ideas to the industry. We can’t wait to see what they come up with next.”
Maximilian Schmitt Sales & Business Development Manager at Betterlore said: “Coin-pushers are beloved by people across the world, and everyone knows how to play. That’s why we’re delighted to partner with a truly global company like SkillOnNet on our very first game, because we believe The Coin Pusher will be a hit in multiple markets.”
Latest News
SPORTRADAR DRIVES BETTING INNOVATION WITH MICRO MARKETS EXPANSION
Sportradar (NASDAQ: SRAD) is set to further transform the betting landscape with the launch of micro markets, the next generation of in-play betting products, across leading sports, opening fresh revenue streams for operators. In a strategic move, Sportradar, in collaboration with Tennis Data Innovations (TDI), is introducing micro markets for ATP tennis matches this October. This exclusive partnership marks yet another step in offering bettors more granular and engaging wagering options in tennis. Sportradar currently offers micro markets across other popular sports including soccer and table tennis.
By leveraging advanced artificial intelligence (AI) and deep tennis data from TDI, Sportradar will offer operators a cutting-edge solution that processes hundreds of thousands of data points per match. The result is eight distinct micro markets expected to generate approximately 1,500 new betting opportunities per match.
Unique to Sportradar, the ATP tennis micro markets include:
- The next breakpoint
- Will the next serve be an ace, rally, or double fault
- Who will serve the next ace
- All point outcomes (player 1 winner; Player 1 Error, Player 2 Winner; Player 2 Error)
- Total shots in a point
- Last stroke type (e.g. serve, return, forehand, backhand, or volley)
Karl Danzer, SVP Odds Services at Sportradar said: “The introduction of micro markets underscores Sportradar’s commitment to leading the industry with advanced proprietary technology to provide clients with unmatched opportunities to engage fans and generate new revenue across hugely popular betting sports like tennis.”
Sportradar is set to further expand micro markets with the addition of American football, baseball, basketball and ice hockey in the first half of 2025.
Micro betting is a form of live wagering that enables operators to offer bets on specific, short-term outcomes within a game or event.
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