Gaming Innovation Group reports Q3 2018
06 November, 2018
Gaming Innovation Group Inc. (GiG) reports EUR 37.3 million in revenues in Q3 2018, a 21% increase over Q3 2017. EBITDA for Q3 2018 was EUR 5.0 million, a 66% increase over Q3 2017.
“In the third quarter, we have delivered the last building blocks to our ecosystem, our own games and omni-channel solution, to cover all verticals in iGaming. We have created a base from where now, with full force, we can drive forward as the full service provider which every company serious about iGaming must be part of. GiG sees strong interest for its services and products with an increasingly healthy pipeline of opportunities”, says Robin Reed, CEO of GiG.
Financial highlights Q3 2018
- Operating revenues of EUR 37.3 (30.8) m, up by 21% from Q3 2017
- EBITDA of EUR 5.0 (3.0) m, an increase of 66% from Q3 2017
- B2B revenues of EUR 15.4 (11.6) m, up by 33% from Q3 2017
- B2C revenues of EUR 24.4 (21.9) m, up by 11% from Q3 2017
- Marketing expenses of EUR 10.6 (11.9) m, 29% of total revenues, down from 39% in Q3 2017
Operational highlights
- Initiatives taken to improve profitability and general performance in Gaming Operators led to strong improvement in B2C with an EBITDA of EUR 1.4 (-2.3) million
- First external Sportsbook agreement with Latvian operator 11.lv
- Mr Green signed as GiG’s first external customer for its compliance tool GiG Comply
- Hard Rock International signed a Letter of Intent for GiG’s omni-channel Sportsbook
- GiG Games launched its first in-house developed game
- Sportsbook agreement with existing operator Metal Casino
- Listing at NASDAQ Stockholm (main list) planned for Q1 2019
Outlook
- GiG is ready to leverage on its complete ecosystem and key strengths driving revenue and market share for its partners
- Attracting new customers converting from offline to online
- Geographical expansion focusing on regulated and soon-to-be regulated markets
- Updated full year 2018 guidance: Revenues EUR 149-152m, EBITDA EUR 16-18m
Investor presentation and webcast:
CEO Robin Reed will present the Q3 results at 10:00 CET. The presentation will be given in English and available live via webcast and via a telephone link. Questions can be asked via the webcast or the telephone link.
Link to the webcast: https://tv.streamfabriken.com/gig-q3-2018
Numbers for participation in the telephone conference:
SE: +46850556466
UK: +442034270662
US: +13473291282
NO: +4723500244 Pin code for NO: 90989264#
For further information, contact:
Robin Reed, CEO, +356 9999 0382
(Robin@gig.com)
About Gaming Innovation Group (GiG):
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is 'To open up iGaming and make it fair and fun for all'. Through our ecosystem of products and services, we are connecting operators, suppliers and users, to create the best iGaming experiences in the world. GiG operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.
For more information about GiG and our services also see: