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Gaming Innovation Group reports Q1 2024

Article Img 07 May, 2024

Highlights

  • Reported revenues (GiG Media) at all-time high of €28.0m (18.4), an increase of 52% (21% organic), with an EBITDA of €13.5 (8.0)
  • The group, including Platform & Sportsbook achieved all-time high revenues amounting to €36.2m (28.4), an increase of 28% YoY
  • FTDs for GiG Media were 125,100 (110.800), up 13% YoY
  • AskGamblers continued positive momentum, with record traffic, players generated, revenue and EBITDA  
  • Platform & Sportsbook signed eight new agreements and HoTs in Q1-24, and ten brands went live so far in 2024
  • Existing customers on the platform add up to a total of 67 brands, with an additional integration pipeline of 18 brands as of today 
  • The business is operationally ready for the strategic split of Media and Platform & Sportsbook. The split is expected by Q3 2024, pending approvals


Investor presentation and webcast

Chairman of the Board, Petter Nylander will host a presentation of the Q1 2024 results via livestream at 10:00 CET 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.

Link to the livestream:
https://www.redeye.se/events/995042/live-q-gaming-innovation-group-8

For further information, contact: 
Jonas Warrer, CEO of GiG, jonas.warrer@gig.com, +45 30788450
Richard Carter, CEO Platform & Sportsbook, Richard.carter@gig.com, +44 968753750
Tore Formo, Group CFO, tore@gig.com +47 91668678


This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 7 May 2024.


About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group’s vision is ‘To be the industry leading platform, sportsbook and media provider delivering world class solutions to our iGaming partners and their customers. GiG’s mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com


Legal disclaimer 
Gaming Innovation Group Inc. gives forecasts. Certain statements in the report are forward-looking and the actual outcomes may be materially different. In addition to the factors discussed, other factors could have an impact on actual outcomes. Such factors include developments for customers, competitors, the impact of economic and market conditions, national and international legislation and regulations, fiscal regulations, the effectiveness of copyright for computer systems, technological developments, fluctuation in exchange rates, interest rates and political risks.