GIG reports €36.2m in Q1 revenue, marking 52% growth
Platform & Sportsbook revenue reached an all-time high.
Gaming Innovation Group (GIG) has released its Q1 results, showcasing a positive start to the year with record-breaking revenue marking the highest in the company’s history.
The group’s overall figures, including platform and sportsbook revenue, achieved a record high for the business, hitting €36.2m ($38.9m). One of the primary drivers behind the quarter’s positive results was GIG Media, which reached €28m in revenue, marking a 52% increase year-on-year – 21% of which is reported as organic growth.
In total, the entire group’s revenue also grew by 28% in comparison to Q1 of 2023. Further, AskGamblers also reported record traffic, revenue, EBITDA and players generated in the quarter – followingGIG’s purchase of the company from Catena Media back in December of 2022 for $47.9m.
GIG’s adjusted overall EBITDA for Q1 2024 amounted to €13.5m, following a total of eight new Heads of Terms (HoTs) and agreements signed over the course of the opening three months of the calendar year.
April was also a busy month for GIG, with the company nominating Mateusz Juroszek to its Board of Directors, as well as striking a deal with the Grand Casino Basel, which saw its entry into the Swiss market.
The last previous revenue results posted by the affiliate came in February and highlighted a positive year of growth for GIG, with its Q4 2023 revenue of €35.6m boosting FY2023 revenue to €126m; 40.8% up from 2022.
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