Online platform, sportsbook and gaming software provider Gaming Innovation Group (GiG) reported its third quarter performance with an increase in revenues of 35 per cent year-over-year (24 per cent organic) to €22.9 million. The rise in earnings was driven by regulated B2B sportsbook markets and record revenue growth of €15.1 million from GiG media.

Richard-Brown-GiG-CEO-LinkedIn-Photo
Richard Brown, CEO of GiG

Third quarter performance was ahead of the group’s expectations, highlighting solid growth in the LatAm market. The company reported adjusted EBITDA growth in nine months of was €8.5 million, up 47 per cent, adjusted EBITDA margin up by 37 per cent and a positive cash flow of €10.0 million.

The company’s profit and loss statement are partly offset by related cost of sales and site overheads. 

CEO of GiG Richard Brown said he was very pleased with the robust performance of GiG over the third quarter adding “The business delivered another record quarter with revenue growth up 35 per cent year-over-year.”

Gaming Innovation Group (GiG) was granted a licence by the MGA and UK Gambling Commission. The company is headquartered and operates in Malta. It is listed on the Oslo Stock Exchange and on Nasdaq Stockholm.  Through an affiliate marketing strategic growth programme, it has entered most areas of the iGaming supplier value chain. GiG recently acquired sportsbook provider Sportnco and in April 2020 it divested some of its consumer brands that include Rizk.com and Guts.com to Betsson.  The company is also licenced in Sweden, Spain, Iowa (USA), Croatia and Latvia and is GLI33, GLI16 and ISO27001 compliant.

Continue Reading

Betting sites in Malta: A deep dive into the pulse of Maltese gaming

26 February 2024
by iGamingCapital.mt

Online betting is now more popular than ever, and all across Europe, users can sign up to licensed and trusted betting sites in Malta

FATF removes Gibraltar from grey list

26 February 2024
by Helena Grech

It was added to the grey list in June 2022, on the same day that Malta was removed

BeyondPlay announces acquisition by FanDuel

21 February 2024
by iGamingCapital.mt

BeyondPlay was founded in 2021 by Karolina Pelc

FinXP announces leadership transition: Welcomes Antoine Scerri as new CTO

20 February 2024
by iGamingCapital.mt

Carmelo Romano, the former CTO, has transitioned to a consultative role within the company

See more