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Latest News

Gaming Innovation Group reports Q2 2024

Published

9 months ago

on


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.

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