Gaming Innovation Group Inc. (GiG) reports Q1 2021 revenues of Euro 18.3 million and
an EBITDA of Euro 4.6 million.
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“The first quarter of 2021 is a strong start to the year and another positive
step forward for Gaming Innovation Group, with strong results driven from the
work and strategic initiatives pushed through in the last 12 months. We are
happy with the overall progress, and look forward to continuing to grow towards
our long term objectives”, says Richard Brown, CEO of GiG.
Financial Highlights
· Revenues in Q1 2021 were Euro 18.3m (11.2), up 64%, all organic growth
· Normalised revenues were Euro 15.4m (10.7), an increase of 44%
· EBITDA in Q1 2021 was Euro 4.6m (0.6), up 674%, normalised EBITDA margin
increased to 29.6% (5.5%)
· Normalised revenues for Platform Services were Euro 5.2m (3.8), an increase of
19% , with a positive quarterly EBITDA of Euro 0.3m (-1.6)
· Revenues in Media Services at all-time high of Euro 10.0m (8.2) in Q1 2021, an
increase of 23%, EBITDA was Euro 4.6m (4.5)
· EBITDA for Sports Betting Services was Euro -0.4m (-1.7) an improvement of
Euro 1.3m, driven by operating expenses reduction of 75%
· Positive EBIT of Euro 1.3m (-4.7) in Q1 2021, an improvement of Euro 6.0
Operational Highlights
· Two new agreements were signed for Platform Services in the first quarter,
with one new agreement signed so far in the second quarter
· Completed the development for five new brands, whereof three are live on the
platform and the remaining pending the client’s decision to launch, expected in
Q2 2021
· Media Services continued its positive development in the quarter, with all
-time high revenues and FTDs up 56% YoY, and 31% QoQ
· Completed the technical infrastructure and data migration project that was
started in Q4 2019
· Awarded ISO 27001:2021 certification for its frontend development solution
and content management system
Events after Q1
· Signed an agreement for the provision of GiG’s iGaming platform to power a
new online casino for the European market, operating on its own license
· One brand went live early May, two additional brands are ready to go live,
and the remaining integration pipeline stands at 10 brands as of today
· GiG Media delivered another all-time high in revenues in April, up 10% on Q1
2021 average with another all-time high in FTD’s referred
· April has developed positively and normalised revenues are up 35% compared
to the same period last year
· Initiated refinancing of the SEK 400 million bond that matures in June 2022
Investor presentation and webcast
CEO Richard Brown will present the Q1 2021 results today via livestream at 10:00
CET. The presentation will be followed by a Q&A-session, and investors, analysts
and journalists are welcome to participate. The presentation will be given in
English.
Link to the livestream:
Redeye
For further information, contact:
Richard Brown, CEO of GiG, richard.brown@gig.com +34 661 599 025
Tore Formo, Group CFO, tore@gig.com +47 916 68 678
This information is information that Gaming Innovation Group Inc. (GiG) is
obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact
person set out above, at 08:00 CET on 5 May 2021.
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing
solutions, products and services to iGaming Operators. Founded in 2012, Gaming
Innovation Group’s vision is 'To be the industry leading platform and media
provider delivering world class solutions to our iGaming partners and their
customers. GiG’s mission is to drive sustainable growth and profitability of
our partners through product innovation, scalable technology and quality of
service. Gaming Innovation Group operates out of Malta and is dual-listed on the
Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under
the ticker symbol GIGSEK. www.gig.com
Legal disclaimer
Gaming Innovation Group Inc. gives forecasts. Certain statements in this report
are forward-looking and the actual outcomes may be materially different. In
addition to the factors discussed, other factors could have an impact on actual
outcomes. Such factors include developments for customers, competitors, the
impact of economic and market conditions, national and international legislation
and regulations, fiscal regulations, the effectiveness of copyright for computer
systems, technological developments, fluctuation in exchange rates, interest
rates and political risks.
Kilde
Men føler egentlig GIG er såpass safe at den ligger godt gjemt i porteføljen. Også trader jeg litt opp og ned med en pot, eller i det minste prøver. Det er jo typisk GIG imellom rapporter. Kjedelig, men mer spennende om man klarer å trade litt.