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Gaming Innovation Group reports Q2 2024

Published

5 months ago

August 28, 2024

Adrienn Sarkany

Reading Time: < 1 minute

Highlights

Media reported all-time high revenues of €30.3m, up 39% YoY (18% organic growth)
EBITDA increased by 43% to €14.8m, with an EBITDA margin of 48.7% (47.4%)
EBIT reached €7.8m, with a margin of 25.8% (32.3%)
Cash and balance sheet bolstered by a €9m equity raise and a €15m bond tap
GiG Media rebranded to Gentoo Media
FTDs for Gentoo Media were 121,900 (109.400), up 11% YoY Q2-23
AskGamblers and KaFe Rocks thrives post acquisition showing strong growth
Strategic acquisition of Casinomeister, an online casino advocacy and review platform
Signed Head of Terms to acquire Titan Inc. Limited, a premier supplier of SEO and content services, significantly enhancing Gentoo Media’s operational efficiency
Revenues for Platform & Sportsbook were €7.3m (9.3), a decrease of 21%, with an adjusted EBITDA of €-1.6m (3.7)
Platform & Sportsbook signed two new agreements, two additional Head of Terms and one contract extension in Q2 2024
Four additional brands went live in the quarter, two so far in Q3 2024, and the number of live brands is 72 as of today
Subject to the remaining regulatory and shareholder approvals, the split is expected to be executed by the end of September, with the first day of trading for Platform & Sportsbook anticipated on 1 October 2024

Investor presentation and webcast

Chairman of the Board, Mikael Riese Harstad, will host a presentation of the Q2 2024 results via livestream at 10:00 CET today with Jonas Warrer, CEO Media and group CEO, and Richard Carter, CEO Platform & Sportsbook, attending. 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.

Related Topics:Gaming Innovation Group

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Adrienn Sarkany

Hello there! I'm a 21-year-old university student majoring in Finnish and Korean Language and Literature. I have a deep passion for art and a profound connection to the natural world. My journey through life has been a colorful one, driven by my love for creativity, music, and the wonders of the great outdoors. As a dedicated student, I've already earned a degree in Classic Cantos, a testament to my appreciation for the timeless beauty of classical music. Beyond the classroom, my artistic spirit thrives through my love for painting and drawing. These creative outlets allow me to express my thoughts and emotions, transforming blank canvases into vibrant stories. My interests go far beyond music and art. Singing, playing the piano, and exploring new melodies are integral parts of my life, providing me with both solace and exhilaration. When I'm not immersed in the world of art and music, I find solace in nature's embrace. My heart is drawn to animals and the serene beauty of the natural world, fueling my desire to protect and preserve our precious environment.