OSLO, Norway, February 15, 2022 / PRNewswire / – Gaming Innovation Group Inc. (GiG) reports that revenues for the 4th quarter of 2021 * amounted to 18.2 million euros and EBITDA of 5.6 million euros.
“We ended 2021 with another strong quarter with revenue of 29% to an all-time high and EBITDA of 35% compared to the fourth quarter of 2020, and importantly, we created a truly exciting and expanded structure to further accelerate our global ambitions through the acquisition of SportnCo .“he says Richard BrownCEO of GiG.
- Revenues * in the 4th quarter of 2021 amounted to 18.2 million euros (14.1), an increase of 29% over the same period last year.
- EBITDA amounted to 5.6 million euros (4.1), an increase of 35%, return on EBITDA * increased to 30.7% (29.1%)
- Revenues from media services at the highest level of 12.8 million euros (9.0), an increase of 42%, with a historically high EBITDA of 5.7 million euros (4.3)
- Revenue * from the services of the platform amounted to 5.3 million euros (4.9), an increase of 8%, with EBITDA of 0.2 million euros (0.2). Excluding discontinued white labels, revenue rose 22%
- Positive profit of 1.8 million euros (-0.1), an improvement of 1.9 million euros
- Positive cash flow from operations of 1.2 million euros (-0.2), an improvement of 1.4 million euros
Highlights of the work
- In December, SPA signed the acquisition of Sportnco Gaming, closing is expected in the first quarter of 2022
- Media services reached the fourth consecutive historical high in quarterly revenue and number of players, FTD ended at 60,600 (33,200), up 82%
- A long-term agreement has been signed with a well-known German operator that will transfer its existing brand to the iGaming GiG platform.
- Long-term platform agreement signed with Rank Entertainment Holdings to ensure growth of their Marina888 brand worldwide
- Two new brands were launched in the fourth quarter, and the development of two additional brands was completed at the end of the year
Events after the 4th quarter
- Long-term agreement signed with Betsson Group for three years, extending the contract until the 4th quarter of 2025
- Two new brands are still operating in 2022, the rest of the integration pipeline is moving towards its plans
- January was positive, revenues grew by 20% y / y
* Revenue is adjusted to reflect revenue from the customer platform, where GiG recognizes full transactions in its income statement, which is partially offset by related selling and overhead costs on the site. Sales cost, marketing costs and EBITDA margin are adjusted accordingly. For more information, see Note 2 in the interim report for the 4th quarter of 2021.
Investor presentation and webcast
CEO Richard Brown present the results of the 4th quarter of 2021 live at 10:00 CET. The presentation will be followed by a question and answer session inviting investors, analysts and journalists. The presentation will be in English.
Link to live broadcast:
For more information, contact:
Richard BrownCEO of GiG, [email protected] +34 661 599 025
Tore FormoCFO of the group, [email protected] +47 916 68 678
Hassie Moka, Head of IR, [email protected]+46 737039820
This information is information provided by Gaming Innovation Group Inc. (GiG) is required to publish in accordance with EU market abuse regulations. The information was provided for publication through the agency of the contact person mentioned above at 8:00 AM CET on February 15, 2022.
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company that provides solutions, products and services to iGaming operators. Founded in 2012, Gaming Innovation Group’s vision is: “To be an industry-leading platform and media provider that provides world-class solutions for our iGaming partners and their customers. GiG’s mission is to drive the sustainable growth and profitability of our partners through product innovation, scalable technology and quality service. Gaming Innovation Group works with Malta and is listed on the Oslo Stock Exchange under the symbol GIG and on the Nasdaq Stockholm under the symbol GIGSEK. www.gig.com
Forecasts are provided by Gaming Innovation Group Inc. Some statements in the report are promising and the actual results may differ significantly. In addition to the factors discussed, other factors may affect the actual results. Such factors include developments for customers, competitors, the impact of economic and market conditions, national and international law and regulations, fiscal regulations, the effectiveness of copyright in computer systems, technological developments, exchange rate fluctuations, interest rates and political risks.
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SOURCE Gaming Innovation Group