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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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Wizard Games brings back unique pay-as-you-see mechanics in Digipays

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NeoGames S.A subsidiary Wizard Games has brought back its fan-favourite visible payout mechanics where combinations of digits are awarded, in the latest release Digipays.

The 3×3 slot offers extremely basic payout mechanics, with no paying symbols on the reels apart from blank diamonds or numbers. Two consecutive digits on the same payline will award the number that it reflects. For example, if the numbers 0 and 1 land on the last two reels, players will win 1x. If 1 lands on the first column, followed by two 0s, they will win 100x.

Digipays offers a respin feature if the golden coin lands on the third reel. This awards three respins, where any number landing becomes sticky for the duration. Wins are awarded after every respin, without the count resetting.

In addition, players can boost their chance of triggering the respins via an increased stake feature. The title is the latest by Wizard Games to use this unique and popular mechanics, following high-performing Teddy’s Tavern and Bier Haus Riches.

Megan Easey, Director of Operations at Wizard Games, said: “This visible digits combination pay mechanics has proven to be a firm favourite with players, with its incredibly easy to understand payouts ensuring that every spin triggers excitement.

“With our respins mode offering significant chances of big wins on all three reels, we’re confident that Digipays will be another bold, popular addition to our slot offering.”

The post Wizard Games brings back unique pay-as-you-see mechanics in Digipays appeared first on European Gaming Industry News.

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Uncover the gold in 3 Oaks Gaming’s 3 Clover Pots: Hold and Win

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Distributor unleashes Magic Pots feature in Irish-themed title

3 Oaks Gaming, an established distributor of iGaming content, has unveiled its latest slot, 3 Clover Pots: Hold and Win, featuring an Irish-inspired makeover of its popular 3 Pots mechanic.

In this 5×3 title players will be greeted by the friendly Leprechaun, serving as the game’s Wild Symbol. The path to big wins is illuminated by the shimmering Gold Clover Bonus Symbols; amassing a minimum of six of these symbols sets the stage for the Hold & Win round.

The powerful Magic Pots feature is poised to transform respins into a cascade of epic rewards. As the Red, Green, and Purple Special Bonus Symbols land they fill the corresponding clover pot metres. When full, players will be transported to the Bonus Round with a matching booster – Double, Mystery, or Collect – with the potential to activate all three simultaneously.

During the Hold and Win round’s respins, Mystery Symbols could unveil a Jackpot – Mini, Minor, and Major. To claim the coveted x5,000 Grand Jackpot, players must fill the entire screen with Clovers.

Players can trigger the Free Spins game with three Scatter Symbols, during which Wild Symbols carry a x2 multiplier.

Yuriy Muratov, Chief Commercial Officer at 3 Oaks Gaming, said: “With mesmerising graphics and meticulous attention to detail, 3 Clover Pots is designed to captivate and immerse players with a wide range of features.

“We’re excited to introduce this latest addition to our collection and eagerly anticipate its success amongst our esteemed partners.”

The post Uncover the gold in 3 Oaks Gaming’s 3 Clover Pots: Hold and Win appeared first on European Gaming Industry News.

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Wazdan grows in Bosnia and Herzegovina with Admiralbet

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Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, is set to raise its profile in Bosnia and Herzegovina after partnering with leading brand Admiralbet.

The first batch of Wazdan’s high-performing slots to have gone live with the operator includes player-favourites such as Sizzling Moon™, 9 Coins™, 9 Coins™ Grand Gold Edition, and Magic Spins™ with further titles to be announced in the coming months.

Admiralbet players are now able to enjoy a much-strengthened selection of games that offer Wazdan’s engagement-boosting mechanics, including Cash Infinity™, Collect to Infinity™ and Hold the Jackpot.

This latest European expansion follows several similar partnerships for Wazdan in a first quarter which has seen a significant level of commercial growth following its recent rebrand and consistent game release roadmap.

Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “Bosnia and Herzegovina is the latest territory to see us grow our influence in.

“We’re enjoying an incredible rate of growth now, backed by a rock-solid games portfolio and welcoming major partners like Admiralbet just elevates that success. We’re confident we have the best possible ally in the country thanks to this development.”

Admiralbet’s Online Casino Manager, Nikola Zakic, said: “Admiralbet is a company that strives for constant improvement and development to keep up with world standards.

“Gaining access to Wazdan’s products furthers that strategy fantastically well. It gives us a range of games that we know our players will enjoy and maintains our place as a leader in Bosnia and Herzegovina.”

The post Wazdan grows in Bosnia and Herzegovina with Admiralbet appeared first on European Gaming Industry News.

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