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Gaming Innovation Group reports Q4 revenue of €26m

Q4 2022 revenue of €26m ($27.8m) and an adjusted EBITDA of €10.8m have been announced by Gaming Innovation Group (GiG).

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Richard Brown, GiG CEO, said: "We have delivered a stellar quarter across the business with strong growth for Group revenues and EBITDA of 44% & 71% respectively."

The report states that EBIT was €4.0m, up 80% year-over-year, with an EBIT margin of 15.5%. GiG Media had a 40% growth in revenue to an all-time high of €17.8m and an adjusted EBITDA of €8.9m.

Platform & sportsbook revenue reached a record-high of €8.2m, a rise of 54%, with organic growth of 35% (39% organic growth excluding premium fees) and adjusted EBITDA of €1.8m.

After FTDs ended, GiG's player intake and quarterly income both hit new record highs of 115,900,  an increase of 91%. GiG Media and News Corp UK & Ireland Limited have partnered to provide The Sun and TalkSport with sports betting and casino content.

It introduced four brands, including two in Ontario, a newly governed jurisdiction in Canada. Six new contracts were also signed throughout the quarter.

The report indicates that GiG started a strategic analysis with the intention of splitting the company into two independent publicly listed entities in relation to events that occurred after Q4.

Further, revenues in January are up 29% from the same time last year.

The biggest recent news for GiG came in January when the company completed the acquisition of AskGamblers from 'super affiliate' Catena Media, for €45m.


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