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Gaming Innovation Group reports 29% rise in Q4 revenue

The financial reports for Q4 2021 have been published by Gaming Innovation Group (GiG) indicating that revenue has reached €18.2m ($20.6m), an increase of 29% year-on-year, with an EBITDA of €5.6m.

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Some of the highlights produced show revenue in Media Services reached an all-time high of €12.8m, increasing by 42% as well as an all-time high EBITDA of €5.7m.

Revenue for Platform Services was €5.3m, a rise of 8% with an EBITDA of €0.2m. If we exclude the discontinued white labels, revenue grew by 22%.

The report also shows a positive EBIT of €1.8m, indicating an increase of €1.9m. On a similar notion, positive cash flow saw an improvement of €1.4m, totalling €1.2m. 

Richard Brown, GiG CEO, commented: "We have closed off 2021 with another strong quarter with revenues up 29% to an all-time high, and an EBITDA up 35% compared to the fourth quarter of 2020, and importantly we have laid a truly exciting and expansive structure in place to further accelerate our global ambitions via the acquisition of SportnCo." 

Looking operationally, the signing of a SPA (sales and purchase agreement) in December to acquire Sportnco Gaming is expected to close in Q1 2022. Equally, GiG signed a long-term agreement with an established German operator that will migrate its existing brand to GiG’s iGaming platform. 

GiG saw the launch of two new brands in Q4, with the addition of the development of two new brands completing at the end of the year. 

Media services reached an all-time high total for a fourth consecutive year in both quarterly revenue and player intake, with First Time Deposits up by 82%, ending at 60,600.

Looking forward, GiG has signed a three-year extension to its agreement with Betsson Group, meaning the contract term will end in Q4 2025. 

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