Latest News

Gaming Innovation Group Reports Q2 2023

Published

2 years ago

August 16, 2023

Reading Time: 2 minutes

Gaming Innovation Group (GiG) Incorporated reports Q2 2023 revenues* of €31.1 million and an adjusted EBITDA of €14.0 million.

“The second quarter of 2023 has proven another step forward for GiG with the business reaching another all-time high in revenues,” the Chief Executive Officer for GiG, Richard Brown, said. “We now look into the second half of the year with total focus on ensuring strong growth mechanics, continued operational improvement and long-term scalability for GiG.”

Financial Highlights

GiG achieved all-time high revenues* in Q2 2023 amounting to €31.1 million (22.1), an increase of 40% year-on-year whereof 22% organic
Adjusted EBITDA was €14 million (8.3), up 68%, adjusted EBITDA margin* increased to 45% (37.5%), an all-time high and strong progress towards financial target goal of 50%
EBIT was €6.6 million (2.4), an increase of 173% year-on-year with an EBIT margin* of 21.1% (10.8%)
Revenues in GiG Media at all-time high of €21.7 million (14.8), an increase of 47% (20% organic), with an adjusted EBITDA of €10.3 (7.0)
Revenues* for Platform and Sportsbook were €9.3 million (7.3), an increase of 27%, all organic, with adjusted EBITDA of €3.7 million (1.3), adjusted EBITDA margin* increased to 39.7% (17.2%)
Profit before tax was €6.6 million (2.2), an increase of 197% year-on-year EPS was €0.05 (0.01)
Positive cash flow from operations of €9.1 million (9.5)

Operational Highlights

FTDs for GiG Media ended at 109,400 (79,400), up 38% year-on-year
Ask Gamblers continued positive momentum with revenues in July up 45% from run rate at take over
Signed final agreement with Palasino, powering the online entry of Trans World Hotels and Entertainment retail business through Palasino.com
Platform and Sportsbook awarded licenses in Pennsylvania and Maryland, United States, and the new gambling software provider license in Sweden
Successful launch and completion of migration of all GiG legacy Sportsbook clients to Sportnco solution
Launched two new brands and signed three new agreements for Platform and Sportsbook in the quarter
Awarded Full-Service Platform Provider and Multi-Channel Supplier of the Year at the 2023 EGR B2B awards

Events After Q2

Signed one new agreement and three HOTs for Platform and Sportsbook
Five additional brands have gone live so far in Q3 2023 including new market entries in Serbia and further expansion into Latin America, number of live brands is 65 as of today
GiG’s platform and sportsbook live in the United States state of Maryland
Appointed Richard Carter as new Platform and Sportsbook Chief Executive Officer and Jonas Warrer as Chief Executive Officer for GiG Media
July has developed positively and revenues are up 30% compared to the same period last year, whereof 10% organic growth

*Revenues are adjusted for revenues from a platform client where GiG recognizes the full operations in its profit and loss statement, which are partly offset by related cost of sales and site overheads. See Note 2 in the Q2-2023 Interim Report for more details.

Investor Presentation and Webcast

Chief Executive Officer Richard Brown will present the Q2 2023 results via livestream at 10:00 CET. The presentation will be followed by a Q&A-session and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

Latest News

THE BATTLE OF POLYTOPIA ANNOUNCES GLOBAL WORLD CHAMPIONSHIPS WITH $10,000 PRIZE POOL

Published

2 hours ago

July 2, 2025

George Miller

Reading Time: < 1 minute

Midjiwan, the award-winning independent studio behind The Battle of Polytopia has today announced The Polytopia World Championship with a prize pool of $10,000 USD and a live final broadcast from Stockholm.

The Polytopia World Championship is set to launch this fall, uniting players from across the globe in an epic showdown of fast-paced strategic mastery. The tournament will be themed to Battle of the Tribes. Players will choose to compete with one of Polytopia’s 12 in-game tribes; each with a unique regional theme and skillset.

The tournament will begin with open qualifiers, giving everyone a chance to prove themselves. From there, players will advance through tribe-specific playoffs and head-to-head elimination rounds, each match bringing them one step closer to glory.

The top six players will earn a spot in the live finals in Stockholm on December 6: an in-person event streamed online for fans worldwide. In addition to live commentary of the tournament, the fan event will also provide behind-the-scenes content from the Midjiwan team.

The winner will be awarded a prize pool of $10,000; making this tournament the biggest competitive event in The Battle of Polytopia’s nine year history.

Christian Lovstedt, CEO of Midjiwan AB, commented: “This marks a major new step for Polytopia’s competitive scene, featuring a fresh tournament format and enhanced broadcasting that makes it even more exciting for viewers to watch, learn, and get inspired by the world’s top players.“

The matches will be played on the Polytopia Official Space on the Challengermode esports Platform.

The planned dates are:

September:

Sep 13–14
Sep 20–21
Sep 27–28

October:

Oct 4–5
Oct 11–12
Oct 18–19

November:

Oct 25–26
Nov 1–2
Nov 8–9

Nov 22–23

Faceoff
Final Qualifier

Dec 6

World Championship Live Event

The post THE BATTLE OF POLYTOPIA ANNOUNCES GLOBAL WORLD CHAMPIONSHIPS WITH $10,000 PRIZE POOL appeared first on European Gaming Industry News.

Latest News

Electrifying twist on the traditional Roulette

Published

2 hours ago

July 2, 2025

George Miller

Reading Time: < 1 minute

SA Gaming is thrilled to announce the launch of Ultra Roulette! It is a thrilling new twist on traditional Roulette! Instead of giving a fixed payout like traditional Roulette offers, Ultra Roulette gives random numbers each round with “Ultra” bonus multipliers!

Ultra Roulette uses a single-zero Roulette, and comes with all available bet options offered in traditional Roulette – Split Bets, Street Bets, Corner Bets, etc. The biggest twist comes when the betting time ends – 1 to 5 random numbers will be assigned with a special multiplier known as an “Ultra” bonus multiplier, ranging from 50x to 1,000x – applied to straight bets only. This is truly a breathtaking experience as the payout is known after the countdown ends, giving unprecedented fun and excitement!

The post Electrifying twist on the traditional Roulette appeared first on European Gaming Industry News.

Latest News

Wildz Group: iGaming Industry Leaders

Published

3 hours ago

July 2, 2025

George Miller

Reading Time: < 1 minute

A brand-new industry-facing name has been announced: Wildz Group™, powered by award-winning iGaming platform Rootz. In recognition of industry developments and company growth, Wildz Group™ has formed, as a collective of leading gambling entertainment brands.

The name directly references the Group’s iconic online casino and sports superbrand, Wildz.

Highlighting Our Products

The new Group will contain the Rootz Platform, powering the six existing gambling brands – Wildz™ Casino, Caxino™ Casino, Wheelz™ Casino, Spinz™ Casino, Chipz™ Casino, and Tuplaus™ Casino – with some exciting new additions in 2025 and beyond.

The leadership team believes Wildz Group will be the catalyst for even greater growth with suppliers, business partners, and collaborators across the gaming industry.

The post Wildz Group: iGaming Industry Leaders appeared first on European Gaming Industry News.