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Gaming Innovation Group reports Q2 2020

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Richard Brown, CEO of GiG
Richard Brown, CEO of GiGReading Time: 2 minutes

 

Gaming Innovation Group Inc. (GiG) reports Q2 2020 revenues of €16.7 million and an EBITDA of €2.8 million.

“Q2 was a strong start for GiG as its first quarter as a B2B only company, and the signings after the quarter confirm further my confidence that the Company can continue to grow and flourish which will deliver shareholder value in the years to come.”, says Richard Brown, CEO of GiG.

Financial Highlights

  • Continued quarterly growth with revenues in Q2 2020 of €16.7m (11.3), 47% growth Y/Y and 49% Q/Q
  • EBITDA in Q2 2020 was €2.8m (1.5), 93% growth Y/Y and 382% Q/Q. EBITDA margin of 17.0% (13.0%)
  • Revenues in Media Services were €8.6m (8.6) in Q2 2020, EBITDA was €4.8m (4.7) with all time high for Paid
  • Revenues in Platform Services were €8.2m (4.2) in Q2 2020, EBITDA was €-0.9m (-1.1)
  • EBITDA for Sports Betting Services improved to €-0.9m (-1.5) due to reduction in operating expenses by 44%
  • Cash flow from operations in Q2 2020 was €10.1m (3.2) and cash used in investing activities was €1.5m (3.5).

Operational Highlights

  • The B2C vertical was divested to Betsson effective on 16 April 2020, with Betsson as a new long term customer on Platform Services
  • Media Services continued its quarterly growth in both revenue and FTDs, up 5% and 22% respectively
  • SkyCity’s successful online expansion in 2020 confirms GiG’s ability to transition a land based casino to online
  • Signed long-term agreement with GS Technologies Limited for the provision of GiG’s platform and front-end development to a new casino brand
  • The sales pipeline developed positively, however some of the final contract negotiations was delayed as land based operators came to terms with actions around Covid-19
  • Cost savings initiatives are progressing according to plan, which is expected to further reduce operating expenses by year end 2020
  • The number of employees decreased from 709 to 487 year-on-year
  • The SEK300 million bond was repaid on 22 April 2020.

Events after Q2

  • Signed three new long-term agreements for GiG’s platform including sports and managed services, further agreements are expected to be signed before year end
  • The positive development continues after Q2, July revenues on adjusted basis were up 38% compared to same period last year
  • The revenue guiding for continued operations for 2020 are increased to between €52 – 57 million, with an EBITDA expected in the range of €12 – 15 million.

Investor presentation and webcast

CEO Richard Brown will present the Q2 2020 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.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming Innovation Group reports Q2 2020

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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SPAYZ.io expands payment network across Asia, Africa, and the Middle East

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SPAYZ.io, a global payment service provider has expanded its payment network to four new countries across Asia, Africa and the Middle East, with new payment integrations in Turkey, Egypt, South Africa, and Tanzania.

Merchants in Turkey can access Havale bank for pay-in and payout transactions. In Egypt and Tanzania, SPAYZ.io has introduced Mobile Money solutions, supporting the growing demand for mobile-first financial services. Finally, in South Africa, the company has rolled out EFT bank transfer capabilities, providing a reliable and widely adopted payment method for local and international merchants.

Looking to Q4 2025, SPAYZ.io will be launching services in the United Arab Emirates and Singapore. In the UAE, merchants will soon be able to utilize bank transfer options for both pay-in and payout transactions, supporting the region’s dynamic and digitally driven economy. In Singapore, SPAYZ.io will offer PayNow for pay-ins and bank transfers for payouts, aligning with the country’s advanced financial infrastructure and consumer preferences for fast, secure digital payments.

SPAYZ.io will be exhibiting at SIGMA Rome to discuss its current and future payment solutions, including these new launches, as it plans for a host of new announcements in the coming months. Partners, merchants, and industry leaders can visit Booth 6007 at Fiera di Roma from 3rd to 6th November 2025, to find out more and discuss opportunities for collaboration.

Tatjana Meluskane, Chief Commercial Officer, commented: “We’re not just watching the rise of digital payments in Africa, we’re proudly  helping to shape it. These are still cash driven economies, where the potential of digitalisation and online payments has not been realised.

“At SPAYZ.io, our mission is to bridge that gap with infrastructure that’s not only fast and secure, but trusted. What we’re seeing now is a tipping point – mobile-first ecosystems, agent networks, and real-time bank rails are converging to redefine the payments sector. We look forward to discussing with our partners at SIGMA Rome.”

You can schedule meetings with SPAYZ.io at SIGMA Rome by emailing [email protected].

 

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Final Sixteen teams confirmed for the BLAST Rainbow Six Munich Major

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Sixteen Teams Locked In for the BLAST Rainbow Six Munich Major

8–16 November 2025 | BMW Park Arena, Munich

The countdown to the BLAST Rainbow Six Munich Major is officially on as the 16 qualifying teams from around the world have been confirmed and are set to battle it out from 8–16 November 2025.

The Major marks the final stop of the 2025 season before the Six Invitational in February next year and will see the world’s best Rainbow Six Siege teams compete for championship glory, crucial Global Standings points and a share of the $750,000 prize pool.

The action kicks off 8–13 November behind closed doors, before culminating in front of a live audience at BMW Park Arena from 14–16 November, as fans bring the noise for three days of top-tier Rainbow Six esports.

The 16 teams competing in Munich:

  • Team Secret
  • Team Falcons
  • Team BDS
  • G2 Esports
  • FaZe Clan
  • FURIA Esports
  • Ninjas in Pyjamas
  • w7m Esports
  • Spacestation Gaming
  • Shopify Rebellion
  • M80
  • Wildcard
  • Dplus
  • CAG Osaka
  • Weibo Gaming
  • Enterprise Esports

With high stakes, fierce rivalries and the final Major title of the year on the line, all eyes turn to Munich as the stage is set for an unforgettable week of competition.

Limited tickets are still available – eventim.de/en/event/blast-r6-major-munich-2025-bmw-park-20359451/?srsltid=AfmBOopQhyzSgQxb_US-Zn88vxsiuTymssx09erEQ1eVWWymEFEnisHf

Fans can grab tickets to experience the electric atmosphere live at BMW Park Arena, watch the world’s top teams battle it out for the final Major crown of 2025, and celebrate the very best of global Siege esports.

The post Final Sixteen teams confirmed for the BLAST Rainbow Six Munich Major appeared first on European Gaming Industry News.

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Cubeia expands Originals Studio with Turbo Crash launch

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Cubeia, a Sweden-based iGaming software solutions provider, has unveiled the latest addition to its Originals Studio, Turbo Crash – a fast-paced, adrenaline-fuelled game designed to test players’ instincts.

Turbo Crash challenges players to make the ultimate risk-versus-reward decisions in search of astronomical returns. Players place their bets and watch the multiplier soar higher and higher – but timing is everything. It’s possible to cash out at any moment with a single click and every round can be verified for total transparency and trust thanks to its Provably Fair design.

Turbo Crash continues Cubeia’s Originals Studio mission to create operator-first, fully brandable games inspired by its Operator-Up philosophy – built from the ground up around what operators and their players need.

Cubeia’s investment in gamification and community-driven features is reflected in its latest release with challenges, achievements, and duels all available to bring players closer together.

A very successful first year for Cubeia Originals has validated this approach, and with Turbo Crash, the company is setting the pace for what an Originals experience can become as it scales the portfolio further.

Cubeia’s Head of Sales, Caroline Björkman, said: “Launching Turbo Crash as we approach our first anniversary is the perfect way to celebrate how well Originals Studio has established itself in the market. In less than a year, we’ve launched ten distinctive titles – from Mines and Crash to Turbo Crash – and built a portfolio that operators can rely on and players genuinely enjoy.”

The post Cubeia expands Originals Studio with Turbo Crash launch appeared first on European Gaming Industry News.

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