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Gaming Innovation Group reports Q2 2019

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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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Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights

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Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.

PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.

Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”

Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”

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Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years

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As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.

This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.

The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.

Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.

The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.

Event Details:

  • What: Premiere of “Memories of CS:GO – The Early Years”
  • When: March 26th, 2024, at 21:00 CEST
  • Where to watch: Red Bull Gaming’s Youtube Channel
  • The “CS:GO Memories” documentary can be viewed shareit.redbull.com

 

The post Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years appeared first on European Gaming Industry News.

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Ten Square Games ready for a new development opportunities in 2024

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2023 ESPI package

The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)

2023 Consolidated Financial Statement

2023  Management Board Report on Activities

Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements

Link to the stream

Link to the chat with individual investors

Presentation

Factsheet

Financial data

Transcription of the conference and Q&A session

For complete press release visit tensquaregames.com

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