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Gaming Innovation Group reports Q1 2020

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Gaming Innovation Group reports Q1 2020
Gaming Innovation Group reports Q1 2020Reading Time: 2 minutes

 

Gaming Innovation Group Inc. (GiG) reports Q1 2020 revenues of €31.1 million and an EBITDA of €2.5 million.

“GiG returns to topline growth as a group for the first time in five quarters, and many of the actions we have taken in Q4 & Q1 will enable further cost savings, optimization of the organisation and performance that will be a leaver to improved earnings in the second part of the year”, says Richard Brown, CEO of GiG.

Financial Highlights

  • Return to quarterly growth after four consecutive quarters with decline
  • Revenues in Q1 2020 of €31.1m (32.4)
  • EBITDA in Q1 2020 was €2.5m (4.1) with an EBITDA margin of 8.1% (12.7%)
  • Revenues for the B2B segment in Q1 2020 were €12.7m (14.2), EBITDA was €1.3m (3.0)
  • Revenues in Media Services were €8.2m (9.1) in Q1 2020, EBITDA was €4.5m (5.2)
  • Other operating expenses were €12.9m (13.3), the number of employees decreased from 695 to 594 year-on-year
  • Cash flow from operations in Q1 2020 was €8.1m (4.4) and cash used in investing activities was €3.0m (4.2)
  • Revenues for the B2C segment in Q1 2020 were €20.0m (20.2), EBITDA was €1.2m (1.1) with an EBITDA margin of 6% (5%)

Operational Highlights

  • Media Services return to quarterly growth in both revenue and FTDs after three quarters of decline
  • Strategic review initiated in November 2019, leading to an evolved strategic direction to reduce complexity and improve efficiency in the Company – resulted in agreement in February to divest B2C to Betsson
  • Launched MegaLotto onto the platform expanding GiG footprint across iGaming product verticals to include lottery – one of the largest markets in the industry
  • Extended the contract with a current platform customer with the addition of two new brands on the new fixed fee model.
  • The sales pipeline is developing positively, however has slowed some of the final contract negotiations as land based operators come to terms with actions around COVID-19
  • Other cost savings initiatives are progressing according to plan, which is expected to reduce operating expenses and the headcount to approximately 430 by year end 2020

Events after Q1

  • The B2C vertical was divested to Betsson effective on 16 April 2020, and the SEK300 million bond was repaid on 22 April 2020
  • Revenues from Platform Services in April were 35% higher than Q1-20 average and 40% higher than April 2019
  • Sportsbook restructuring initiated, which will lead to around €400k in monthly savings in Sports Betting Services when completed, and place it in a sustainable position for growth and strategic partnerships

Outlook and guidance

  • GiG will become one of few fully independent B2B providers after the divestment of the B2C segment – will give the Company dedicated focus on building the B2B business
  • Platform Services revenues and profitability will benefit from the increased traction several brands on the platform are experiencing from Q2 and onwards
  • GiG will continue its focus on cost control, execution and global expansion and multitude of actions taken in Q4 and Q1 will positively impact bottom line in the latter part of 2020, especially for Sports Betting Services
  • Guiding for full year 2020 remains, revenues are expected in the range of €70 – 75 million, with an EBITDA expected in the range of €14 – 17 million (including, for comparison, B2C as continued operations until completion of the transaction)

Investor presentation and webcast

CEO Richard Brown will present the Q1 2020 results via livestream at 11:00 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.

Link to the livestream: https://www.redeye.se/live/gig-live-q-5-maj

 


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 Q1 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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Goldex Casino by N1 Partners: a new brand tailored for top GEOs

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N1 Partners continues to strengthen its position in the iGaming market by expanding its portfolio with the launch of a new brand — Goldex Casino.

Goldex Casino is strategically focused on key Tier-1 GEOs, including Australia, New Zealand, Canada, Germany, Austria, Switzerland, Norway, Ireland, Denmark, and Slovenia. The product supports eight languages with localised content, ensuring broad reach and engagement.

Goldex Casino features a portfolio of over 5,000 games, while its unique Journey Map system transforms gameplay into a personalised adventure with rewards of up to €/$5,000 and 1,000 free spins. VIP players benefit from an exclusive program offering tailored bonuses, higher limits, dedicated account management, and a final prize — a Rolex Sky-Dweller or its cash equivalent of €20,000.

Special attention has been paid to adaptive design across devices, an intuitive interface, and a suite of features that enhance the user experience and drive player retention. Fully licensed, the brand guarantees a high level of transaction security.

With Goldex Casino, partners gain a robust tool to scale traffic across top GEOs and secure long-term profitability. Join N1 Partners and achieve top-tier results together.

On a related note, N1 Partners is currently running its large-scale N1 Puzzle Promo. All registered teams earn puzzle pieces for driving traffic to N1 brands, including Goldex Casino, with the most active participants competing for luxury prizes. The ultimate reward – a private Robinson helicopter, awarded to the winning team at the end of the promo. The campaign runs until the end of the year.

Learn more about opportunities with N1 Partners

The post Goldex Casino by N1 Partners: a new brand tailored for top GEOs appeared first on European Gaming Industry News.

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Latest News

Goldex Casino by N1 Partners: a new brand tailored for top GEOs

Published

on

N1 Partners continues to strengthen its position in the iGaming market by expanding its portfolio with the launch of a new brand — Goldex Casino.

Goldex Casino is strategically focused on key Tier-1 GEOs, including Australia, New Zealand, Canada, Germany, Austria, Switzerland, Norway, Ireland, Denmark, and Slovenia. The product supports eight languages with localised content, ensuring broad reach and engagement.

Goldex Casino features a portfolio of over 5,000 games, while its unique Journey Map system transforms gameplay into a personalised adventure with rewards of up to €/$5,000 and 1,000 free spins. VIP players benefit from an exclusive program offering tailored bonuses, higher limits, dedicated account management, and a final prize — a Rolex Sky-Dweller or its cash equivalent of €20,000.

Special attention has been paid to adaptive design across devices, an intuitive interface, and a suite of features that enhance the user experience and drive player retention. Fully licensed, the brand guarantees a high level of transaction security.

With Goldex Casino, partners gain a robust tool to scale traffic across top GEOs and secure long-term profitability. Join N1 Partners and achieve top-tier results together.

On a related note, N1 Partners is currently running its large-scale N1 Puzzle Promo. All registered teams earn puzzle pieces for driving traffic to N1 brands, including Goldex Casino, with the most active participants competing for luxury prizes. The ultimate reward – a private Robinson helicopter, awarded to the winning team at the end of the promo. The campaign runs until the end of the year.

Learn more about opportunities with N1 Partners

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HIPTHER Community Voices: Interview with CEO of Media 24 Martins Lasmanis

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From his early days in digital marketing to leading one of the most dynamic affiliate networks in iGaming, Martins Lasmanis brings nearly two decades of hands-on experience and strategic insight to the table. In this edition of Community Voices, Martins reflects on the evolution of the industry, the bold moves that shaped Media 24’s growth, and how the company is embracing AI and a product-first mindset to stay ahead. Dive into his story of resilience, speed, and smart risk-taking — and what it takes to build a future-ready affiliate powerhouse.

 

Can you tell us about your journey into the iGaming industry, how your role and experiences have grown over the years, and what key lessons you’ve learned along the way?

I started in digital marketing about 18 years ago, focusing on SEO. I remember spending my first two weeks just reading everything I could find online. A lot of it turned out to be useless, but it gave me the basics. From there, I worked at a few companies, launched and sold my own digital marketing agency, and later became a freelancer.

In 2016, an affiliate marketer reached out to me through a mutual connection who recommended me based on previous work. I joined his company in 2017 as an employee. That move felt like a risk, but I saw potential.

I spent about four and a half years there. Over time, I started to see big opportunities in markets the company wasn’t willing to explore. Eventually, I decided to leave, sold my shares, and took a break. In May 2022, I joined Media 24.

One key lesson I’ve learned is that long-term consistency often matters more than one brilliant idea. And when you’re scaling fast, being agile and willing to adapt quickly is sometimes more important than being perfect.

 

After 8+ years in iGaming, what are the biggest changes you’ve seen in the industry, and how has Media 24 kept up with them? What key things have helped Media 24 stay strong?

Even though the industry never stops evolving, the fundamentals of affiliate marketing haven’t changed much. What has changed is the pace of Google updates. They are a constant source of stress for many SEO-focused affiliates. They now come one after another and sometimes have a big impact.

And now when AI begins to reshape how people search, affiliates will need to rethink how they attract organic traffic. In some cases, we’ve already seen that AI-driven results take away up to 30% of traffic from organic searches. Its growing impact means we should prepare for fundamental changes coming ahead.

What’s helped us most is staying extremely focused. We ran at a loss for almost two years after starting the company. It is often the reality when you are starting a SEO based business. It was incredibly stressful, we nearly ran out of money for salaries at one point. But we kept going with one plan — to make it work.

Now we have grown to 60+ websites, 300 partners and a team of over 50 people. And we didn’t aim for perfection, we aimed for progress. That speed-first mindset helped us significantly.

 

In a competitive industry like iGaming, looking back, can you think of an idea or plan that felt very risky at first but ended up being a big success for Media 24? What did you learn from that?

One of the riskier moves was our “plant seeds everywhere” strategy. We decided early on to enter almost every market where sports betting was popular. Around 90 GEOs in total. In some cases, the numbers said we shouldn’t bother doing that. But we trusted our instinct.

In that way we were able to quickly identify promising markets, then double down where the data started to make sense. It taught us that data is crucial, but so is intuition. Especially in an industry where emerging markets can surprise you.

It also helped us distribute risk. With presence on so many markets, external factors like Google updates or website blocking had a much smaller impact on the overall business. That made Media 24 much stronger and agile in the long run.

 

Does Media 24 use new technologies like AI? If so, how does using these technologies help the company get stronger or better at what it does?

Definitely. AI-powered tools have already helped us a lot. For example, we noticed a content formatting task that took our managers hours every day. It was repetitive and added up to dozens of lost hours weekly. So, we built an AI-powered algorithm to automate it. Now it takes just minutes, saving our team days and weeks of work each year.

We’re watching AI closely and see a lot of potential. A few months ago, we started developing an AI-first mindset across the team, setting up bi-monthly meetings and workshops to explore how we use these tools and what’s possible. It’s already changing how we work, and we hope to build up on that. The goal is to figure out how we can optimize our work processes and eliminate as many routine, repetitive tasks as possible. We want to free our employees as much time as possible to think, to create, to be proactive, and to create value.

 

If you could give one piece of advice to someone wanting to build a successful company in iGaming today, what would it be?

Focus on building something future-proof. That means strong partnerships, transparency, and a long-term mindset. In affiliate marketing, a lot of your success depends on trust. Both with users and with operators.

Also, don’t wait for everything to be perfect before launching. Start fast, learn fast, and improve as you go. The ability to move quickly is still one of the biggest advantages you can have in this space.

 

What are the main future plans for Media 24, and what kind of impact do you hope the company will have on the iGaming world in the years to come?

Our focus is on becoming a product-driven company. We’re seeing a shift in the industry, many affiliates are building tools and user experiences that go far beyond what was considered enough a few years ago. That’s the direction we’re heading as well.

The new generation of players wants better experiences. We hope Media 24 can play a leading role in creating what the future of affiliate marketing looks like. Agile, technological, and always focused on the user.

The post HIPTHER Community Voices: Interview with CEO of Media 24 Martins Lasmanis appeared first on European Gaming Industry News.

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