GiG Q4 revenue soars 66%; full year results also boosted
Gaming Innovation Group (GiG) has reported Q4 revenue of €17.3m ($21m), a 66% increase year-on-year. The supplier generated normalised revenue of €14.2m, a rise of 38%, while EBITDA was up 4431% (it…
Gaming Innovation Group (GiG) has reported Q4 revenue of €17.3m ($21m), a 66% increase year-on-year.
The supplier generated normalised revenue of €14.2m, a rise of 38%, while EBITDA was up 4431% (it was only €0.1m in the prior period) to €4.1m.
For the full year, normalised revenue was €52.2m, a 19% rise, while EBITDA of €10.7m showed a 212% increase.
GiG had seen dwindling performance in previous quarters but has recently returned to growth, with the COVID-19 pandemic also keeping players at home, thereby boosting online play.
Additionally, the supplier says January developed positively, with normalised revenue up 40%.
Richard Brown, GiG CEO, said: “2020 has seen some significant milestones accomplished in GiG’s journey to become a leading B2B platform and media supplier in the online gaming industry.
“The fourth quarter continued to demonstrate the results of actions taken through the year by delivering yearly growth in normalised revenue and EBITDA by 19% and 212% respectively”.
GiG recently announced it had signed a letter of intent with an established German-facing online operator, although that brand is yet to be named by the company.
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