GiG delivers strong third quarter

Gaming Innovation Group (GiG) has delivered a 21 percent revenue increase in its latest third quarter report.

Key performance indicators for the three months ending September 30, 2018 include:

Operating revenues of Euro 37.3 million, up 21 percent year-on-year.

EBITDA of Euro 5.0 million (Q3/2017: Euro 3.0 million), an increase of 66 percent.

B2B revenues of Euro 15.4 million (Q3/2017: Euro 11.6 million), up by 33 percent y-o-y.

B2C revenues of Euro 24.4 million (Q3/2017: Euro 21.9 million), up by 11 percent y-o-y.

GiG engineered a turnaround in the fortunes of its B2C business, delivering EBITDA of Euro 1.4 million (Q3/2017: Euro -2.3 million)

Marketing expenses of Euro 10.6 million (Q3/2017: Euro 11.9 million), were 29 percent of total revenues, down from 39 percent y-o-y.

The company’s one-stop-shop solution strategy has come to fruition with the final building blocks to GiG’s ecosystem coming together and enabling the firm 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”, Robin Reed, CEO of GiG, said.

In conclusion, GiG updated full year 2018 guidance, now expecting revenues ranging between Euro 149 and 152 million and EBITDA ranging from Euro 16 to 18 million.

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