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Gaming Innovation Group announces its Q4 revenues

15 February 2023
(PRESS RELEASE) -- Gaming Innovation Group Inc. (GiG) today reported its Q4 2022 revenues* of €26.0 million and an adjusted EBITDA of €10.8 million.

“We have delivered a stellar quarter across the business with strong growth for Group revenues and EBITDA of 44% & 71% respectively”, says Richard Brown, CEO of GiG.

Financial highlights:
  • The Group achieved all-time high revenues* in Q4 2022 amounting to €26.0m (18.1), an increase of 44% YoY, whereof 35% organic

  • Adjusted EBITDA was €10.8m (6.3), up 71%, adjusted EBITDA margin* increased to 41.4% (34.9)

  • EBIT was €4.0m (2.2), with an EBIT margin* of 15.5% (12.4%), an increase of 80% YoY

  • Revenues in GiG Media at all-time high of €17.8m (12.8), an increase of 40%, with an adjusted EBITDA of €8.9 (5.9)

  • Revenues* for Platform & Sportsbook were all-time high at €8.2m (5.3), an increase of 54% whereof 35% organic (39% organic growth excluding premium fees), with adjusted EBITDA of €1.8m (0.4)

  • Positive cash flow from operations of €8.5m (4.9)

Operational highlights:
  • GiG GiG Media reached another successive all-time high in quarterly revenue and player intake, FTDs ended at 115,900 (60,600), up 91%

  • GiG Media entered into a new commercial partnership with News Corp UK & Ireland Limited for sports betting and casino content to their premium media websites The Sun and talkSPORT

  • Agreement signed to acquire the casino affiliate websites AskGamblers.com, Johnslots.com, Newcasinos.com and several smaller domains

  • Launched four brands, whereof two in Ontario, the newly regulated Canadian province

  • Platform & Sportsbook signed six new agreements in the quarter

  • Number of live brands were 62 at quarter end

  • Awarded the ISO 20000 certification for the platform after an extensive review of internal service management system, framework and practices

Events after Q4:
  • Initiated strategic review for the purpose of separating the Company into two independent publicly listed companies

  • Acquisition of AskGamblers was completed end of January with several initiatives to grow revenue and EBITDA for the asset being identified

  • Commercial partnership with the Sun and talkSPORT delivers material results just few months into operations

  • Signed three new agreements for Platform & Sportsbook

  • January has developed positively, and revenues are up 29% compared to the same period last year, whereof 15% organic growth

(*)Revenues are adjusted for revenues from a platform client where GiG recognizes the full operations in its profit and loss statement, which are partly offset by related cost of sales and site overheads.

Gaming Innovation Group announces its Q4 revenues is republished from iGamingNews.com.


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