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Gaming Innovation Group reports Q2 2019

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11-4 Gaming Innovation Group reports Q2 2019Reading Time: 2 minutes

Gaming Innovation Group Inc. (GiG) reports Q2 2019 revenues of €31.0 million and an EBITDA of €2.5 million.

“With the second quarter behind us, the outlook has improved. I am confident that the recent strategic actions we have taken will lead to revenue growth and an improved bottom line in H2. It has been a quarter with some headwind, primarily due to a tougher Swedish market.

Our global expansion will be driving sequential growth in both B2C and B2B in H2 and we will manage that growth with a strong focus on execution as the Company is heavily focused on improving earnings per share.”, says Robin Reed, CEO of GiG.

Financial highlights

  • Revenues for Q2 2019 were €31.0m (36.9), impacted by the Swedish market and termination of a customer contract in Q4 2018
  • EBITDA was €2.5m (1.7) in Q2 2019, corresponding to an EBITDA margin of 8.1% (4.6)
  • Revenues for the B2B segment in Q2 2019 were €13.1m (15.6). EBITDA was €2.1m (4.4)
  • Revenues for the B2C segment in Q2 2019 were €19.6m (24.2), with a positive EBITDA of €0.4m (-2.8)
  • Other operating expenses quarter-on-quarter decreased by 2% in Q2 2019 as a result of increased efficiencies and cost-savings across the organisation
  • Cash flow from operations in Q2 2019 was €3.2m (8.2)

Operational highlights

  • GiG partnered with New Zealand’s largest entertainment company SkyCity Entertainment Group on 21 May for a turnkey, fully managed online casino solution, launch date was 8 August
  • One new brand was signed to Platform Services in Q2 2019, two customers were launched in April with an additional three brands in the pipeline for launch. The total number of brands on the platform is 35
  • Rizk launched a dedicated and branded live casino studio on 11 June and the brand was also launched in India
  • In August, GiG divested its brand Highroller to affiliate and operator Ellmount Gaming Ltd. for a total price of €7 million. The acquirer will become a B2B customer of GiG and continue to operate Highroller on GiG’s platform
  • GiG was granted B2B and B2C licences for online casino and sports betting in Spain and a Class II licence in Romania, allowing affiliate marketing
  • A new SEK400m senior bond was issued on 14 June with a SEK1,000m borrowing limit, refinancing part of the existing bond and credit facilities

Outlook

  • The Company is expecting both sequential revenue growth and improved bottom line as its global expansion is driving growth in both B2B and B2C in H2
  • Growth will be managed with strong focus on execution and cost control


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 2019

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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Fantasma Games Launches Riviera Star

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9-6 Fantasma Games Launches Riviera StarReading Time: < 1 minute

 

Fantasma Games has released its latest online slot game Riviera Star. The glamorous slot delivers plenty of big-win potential with thrilling features including Respins, Free Spins, Sticky Wilds and Multipliers.

Any line win activates the Respin feature and sees all winning symbols locked in their position while the rest of the reels spin. Any new line win during the Respin feature is locked and the rest of the reels spin again. When no new line wins occur, the Respin feature ends.

The unique Superstar feature can be randomly activated at the start of any base game spin and sees the Superstar symbol, which acts as a Sticky Wild, placed randomly at a position on reels two to four. It also boasts an increasing all-win multiplier.

Riviera Star also features a Free Spin bonus game triggered when three Scatter Symbols land during the base game. The player receives ten Free Spins and the Superstar feature and all-wins multiplier are also activated.

“The team has done an excellent job of creating a perfectly balanced slot with a unique Superstar feature that combined with an unlimited multiplier, delivers plenty of big win potential that even the Riviera’s rich and famous will be envious of,” Fredrik Johansson, CEO of Fantasma Games said.


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: Fantasma Games Launches Riviera Star

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WorldMatch Renovates its Website

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8-6 WorldMatch Renovates its WebsiteReading Time: < 1 minute

 

Online gaming company WorldMatch has renovated its website to emphasise its 160 slot machines with 70 game engines, 30 table games and all types of video poker, in HTML5 for both desktop and mobile devices. The new site includes a section dedicated to the individual games and the explanation of their technical characteristics.

The new smart search tool allows filtering the slot machines catalogue, according to the required features and as usual, players can play all the games for free to better appreciate the gaming experience. Real-time updates about the release of new titles, partnerships and participation in events are available in the News page.

The graphic restyling is aimed at pointing out WorldMatch’s mission: to offer a wide range of games that will meet every player’s taste.


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: WorldMatch Renovates its Website

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France’s Française des Jeux Secures New Jackpot Insurance

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7-7 France’s Française des Jeux Secures New Jackpot InsuranceReading Time: < 1 minute

 

Française des Jeux (FDJ), the operator of France’s national lottery games, has announced the implementation of a comprehensive insurance policy to cover its counterparty risk from January 1, 2020.

One of the changes involved in the tax and regulatory reform carried out as part of the privatisation of FDJ was the discontinuation of the “counterparty fund” system.

This reform is part of a broader process of clarifying the relations between the state and the company, which is now responsible for covering counterparty risk through an insurance policy, at its own expense.

FDJ has taken out a comprehensive insurance policy with a number of top-tier French and international insurers and reinsurers to cover its counterparty risk, which will take effect from January 1, 2020.

This contract, drawn up with insurance broker Marsh, provides a guarantee for the gains falling within its scope on an aggregate basis. It provides annual coverage of up to €150 million. All costs related to this insurance policy are in line with expectations and are covered by the planned budget.


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: France’s Française des Jeux Secures New Jackpot Insurance

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