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NEWS 11 February 2019

GIG reports revenue and EBITDA increases for 2018

By Matthew Enderby

Gaming Innovation Group (GIG) has reported a 26% year-on-year increase in full-year operating revenue to €151.4m ($171m).

Over the course of 2018, GIG also increased its EBITDA by 28% to €16.1m.

During Q4, the supplier reported operating revenue of €39.9m, a 7% increase.

According to Robin Reed, GIG CEO, the company matched its all-time high in Q4 B2C revenues, rising 2% to €25.8m.

However, decreasing 36% from Q4 2017, EBITDA was €5m for the quarter.

Reed said: "After investing around €16m into tech and product development in 2018, we have now closed the circle and are offering products and services across all major verticals in the online gaming value chain.

"We have started our expansion into regulated markets with big brand partners, and we have launched our online and retail sports betting platform in the US. I am really proud of what we have achieved and are looking forward to 2019."

RELATED TAGS: Financial | Industry
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