Revenue in Media Services grew 40% to €14.1m, while revenue for Platform Services declined 4% to €5m. And excluding white labels and premium fees related to historic B2C sales, Platform revenue increased by 20%.
EBITDA for the period was €6.5m, a 32% increase from the prior-year period, with positive net profit and positive cash flow from operations of €1.1m and €3.8m respectively.
GiG noted several operational highlights for the period, including its Media Services reaching a fifth successive all-time high in quarterly revenue and player intake, and the signing of an extension to the long-term agreement with Betsson Group for the provision of Platform & Managed Services, taking the term of the contract to Q4 2025.
Also noted as highlights for the period was the launching of two new brands, taking the number of live brands to 25, and the completion of three new client projects.
GiG also highlighted many significant events after Q1 2022, including the signed acquisition of Sportnco on 1 April, the signing of Full Game in Angola, and the signing of an extension with SkyCity, among many others.
“I am satisfied with the company’s progress in the first quarter, and we now move toward an exciting second quarter where our global strategic position across multiple areas of high value within the iGaming industry creates truly exciting prospects for growth across the business units,” said GiG CEO Richard Brown.
