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Gaming Innovation Group reports Q4 2020
Gaming Innovation Group Inc. (GiG) reports Q4 2020 revenues of €17.3 million and an EBITDA of €4.1 million.
Richard Brown, CEO of GiG comments: “2020 has seen some significant milestones accomplished in GiG’s journey to become a leading B2B platform and media supplier in the iGaming industry and the fourth quarter continued to demonstrate the results of actions taken through the year by delivering yearly growth in normalised revenues and EBITDA by 19% and 212% respectively”.
Financial Highlights
- Revenues in Q4 2020 were €17.3m (10.4), up 66% from Q4 2019, all organic growth
- Normalised revenues were €14.2m (10.2), an increase of 38%
- EBITDA in Q4 2020 was €4.1m (0.1), up 4431%, normalised EBITDA margin increased to 29.2% (0.9%)
- For the full year 2020, normalised revenues was €52.2m (43.8) a 19% increase from 2019, with an EBITDA of €10.7m (3.4) a 212% increase from 2019
- Revenues in Media Services improved to €9.0m (7.5) in Q4 2020, an increase of 20%,with an EBITDA of €4.3m (4.0)
- Normalised revenues for Platform Services were €4.9m (4.2), up 19%, with a positive EBITDA of €0.2m (-1.4)
- EBITDA for Sports Betting Services was €-0.3m (-1.8) an improvement of €1.5m, driven by a 78% reduction in operating expenses
- To further expedite revenue generating activities, enhance future growth and strengthen the cash position, a €8.5m subordinated convertible loan was issued in December
Operational Highlights
- The sales pipeline developed positively, and four new agreements were signed for Platform Services in the fourth quarter, adding to a total of 14 in 2020, whereof 4 is casino and sportsbook and 10 casino only
- GiG’s platform went live with two clients in the fourth quarter, and the integration pipeline included 14 brands as of year end 2020
- The strategic decision to remove the white-label business entered final phases and was a driver in the flat revenue QoQ but improved the EBITDA margin
- Media Services experienced positive developments in the quarter, finishing off the year with all-time high revenues in December. Player intake was strong, with FTDs up 36% YoY and 9% QoQ
- Sports Betting Services restructuring completed, placing Sports Betting Services in a sustainable position for growth and strategic partnerships
- Restructuring completed with comparable operating expenses reduced by 25% YoY, the Company now have a sound cost base for operational improvement going forward
Events after Q4
- Signed a long-term platform agreement with Playstar to support their entry into the expanding US iGaming market
- Signed a LOI with an established German facing iGaming operator, for the provision of platform technologies to power their new online casino.
- Awarded ISO 27001:2021 certification for its frontend development solution and content management system
- GiG Media delivered another all-time high in revenues in January corresponding with another all-time-high in FTD’s referred
- One brand went live so far in 2021, with two additional expected in Q1-2021
- January has developed positively and normalised revenues are up 40% compared to the same period last year
Investor presentation and webcast
CEO Richard Brown will present the Q4 2020 results today 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/events/803325/live-q-gaming-innovation-group-feb-23rd
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Clarion Gaming film Virtual Tour showing scale of opportunity for ICE and iGB Affiliate exhibitors in Barcelona
Ahead of January 2025’s relocation to Barcelona, ICE and iGB Affiliate exhibitors can share Clarion Gaming’s ‘Vision of the possible’ courtesy of a specially commissioned virtual tour and exhibitor orientation video which can be viewed at: youtube.com
The 10-minute exhibitor film which is narrated by Clarion Gaming Managing Director Stuart Hunter takes viewers on a tour of the venue beginning with an introduction to Fira Gran Via’s integrated metro station which is located between the El Prat international airport (12km) and the historic city centre (3km) and has the capacity to take huge volumes of attendees directly to the heart of the spacious dedicated registration area at the south entrance.
Viewers are then taken on a journey along the elevated arterial walkway which provides a unique bird’s eye view of the 120,000 sqm exhibition space before accessing the contemporary designed meeting areas and plentiful break-out spaces requested by exhibitors, on to the ultra-modern and scalable conference facilities and the venue’s three ‘Sky Gardens’ which facilitate the delivery of a memorable indoor/outdoor festival experience.
The video also explains the new visitor-friendly show floor which has been designed to easily identify the gaming verticals of interest and in the process ease navigation through the five halls that the 2025 editions of ICE and iGB Affiliate will occupy.
Introducing the video Stuart Hunter said: “This is the latest in a series of orientation initiatives which we started in October 2023. This video which is aimed at ICE and iGB Affiliate exhibitors, partners and sponsors will be followed by a dedicated visitor tour to help prepare for this exciting new chapter.
“As a team we could not be more excited about the opportunities offered by our new home at Gran Via and new host city of Barcelona: the film sets-out the size of the opportunity that we have as an industry and shares a compelling vision of what’s possible.”
ICE/iGBA 2025 will use circa 120,000 gross sqm of The Gran Via (ICE 2024 utilised 100,000 gross sqm in London) across Halls 1 (iGB Affiliate) and 2-5 (ICE). An additional 160,000 sqm has been reserved exclusively for ICE/iGBA across the five-year tenancy. The Convention Centre which is located in Hall 8 comprises a modular and versatile space with seating for between 3,000 and 12,000 people.
The post Clarion Gaming film Virtual Tour showing scale of opportunity for ICE and iGB Affiliate exhibitors in Barcelona appeared first on European Gaming Industry News.
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José Garcia promoted to General Manager for Innovative Technology Spain
The Spanish branch of Innovative Technology (ITL) have announced that a long-standing member of the team has been promoted to General Manager. José (Pepe) García Escudero previously held the role of Business Development Manager for the region.
ITL Spain has had an office in Barcelona since 1996, headed up by Sales Director Mustapha Hadj-Ahmed. They provide both cash validation equipment and biometric technology to various market sectors including, gaming, amusement, kiosk and retail.
Commenting on José’s promotion Mustapha said, “I would like to congratulate José (known to most of his customers as Pepe!) on this well-deserved achievement. I have worked with him since he joined the company seven and half years ago and he is hard working, a real team player and has an excellent eye for spotting new opportunities. José will be responsible for overall operations as well as continuing his business development tasks. I am sure he will excel in his new role and I am confident he will lead our talented team to new heights! I look forward to exciting and prosperous times ahead.”
Pepe added, “I am so pleased to be given this fantastic opportunity and to play a more operational and managerial role in the business. Each member of the team here in Spain are a key part of our success, and the reason we are known for being a leading provider of cash handling equipment. I am excited to get started and see the business grow even further as we continue to serve our valued customers and develop our technology to response to the changing needs of the market.”
Concluding Mustapha said, “José will be heading up the team at the FIJMA show in Madrid on 7th – 9th May 2024 on stand A49, so if you are attending the show come and say hello!”
The post José Garcia promoted to General Manager for Innovative Technology Spain appeared first on European Gaming Industry News.
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Team ATK Oshun excels at 2024 Online Championships held on 13 April 2024
Mind Sports South Africa’s (MSSA) 2024 Online Championships held on 13 April 2024 showed sterling results.
The championship was yet another chance for many esports athletes to qualify for MSSA’s National Team Trials to be held on 25 May 2024 at which the team will be selected to officially represent South Africa at the African Qualifiers which lead up to IESF’s 16th World Esports Championships to be held in Riyadh, Saudi Arabia in October and November 2024..
All Registered Players who have finished in the top three places, or the top 20% – whichever is greater, are entitled to enter trials.
However, it must be remembered that all players must have a valid passport to participate in the National Team Trials.
It was indeed exciting to watch just how much all the female teams have improved.
Team ATK Oshun (ATK Club Sport) being a female team astounded all with their skill and sportsmanship. The team demolished all ATK Club Sport opposition to ultimately won the premier event overall and qualify for the National Team trials to be held on 25 May 2025.
IESF’s 15th World Championships will be played to the following titles:
- Counter-Strike 2
- Counter-Strike 2 – Female division
- DotA 2
- eFootball
- Mobile Legends, Bang Bang
- Mobile Legends, Bang Bang – Female division
- PUBGM
The high standard of play saw 37 Registered Players from six provinces being awarded Provincial Colours. Only Limpopo, Free State, and Northern Cape did not have Registered Players who did not earn provincial colours.
Title | Name of player/team | Club | Provincial Colours awarded |
Clash Royale – Premier | Johan Coetzee | Middies | Mpumalanga |
Clash Royale – High School | Aryan Maharaj | PR0NHS | |
Counter Strike: 2 | ATK Oshun | ||
Kaylee Ludick | ATK Club Sport | Gauteng | |
Jessica Eleez Greeff | ATK Club Sport | Gauteng | |
Christin Brazier | ATK Club Sport | Gauteng | |
Megan van der Westhuizen | ATK Club Sport | Gauteng | |
Kayhla Rose Calder | ATK Club Sport | Gauteng | |
DotA – Premier | ZAG DOTA 1 | ||
Suhail Khan | ZAG Academy | Gauteng | |
Travis John Waters | ZAG Academy | Western Cape | |
Mark Kilian Lehle | ZAG Academy | Gauteng | |
Mohammad Dhooma | ZAG Academy | Eastern Cape | |
Nicholas Dammert | ZAG Academy | Gauteng | |
eFootball – Premier | Aslam Parker | PES Society | Gauteng |
FIFA 24 – High School | Daiyaan Hendricks | PES Society | Western Cape |
Mobile Legends – Premier
|
Mavericks | ||
Matthew Tatalias | Mavericks | Gauteng | |
Damian Bransby | Mavericks | Western Cape | |
Preshan Pillay | Mavericks | Gauteng | |
Mohammad Azhar Ansari | Mavericks | KwaZulu Natal | |
Taygan Gabriel | Mavericks | KwaZulu Natal | |
Luke Green | Mavericks | Western Cape | |
Mobile Legends – Premier – Female
|
AHG | ||
Je’nielle Cavanagh | PES Society | Western Cape | |
Inez Pringle | PES Society | Western Cape | |
Salma Parker | PES Society | Western Cape | |
Ra’isha Prout | PES Society | Western Cape | |
Fatimah Prout | PES Society | Western Cape | |
Mia Anthony | PES Society | Western Cape | |
PUBGM
|
Team uEnvy | ||
Richard Henry | ZAG Academy | Eastern Cape | |
La-eeq Arendse | ZAG Academy | Western Cape | |
Kyle Dudley | ZAG Academy | Western Cape | |
Clayton Leak | ZAG Academy | Western Cape | |
Rocket League – Premier – 1 v 1 – Premier | Nathan Strange | Hoërskool Klerksdorp | |
Rocket League – Premier – 1 v 1 – High School | Luther Peens | Hoërskool Klerksdorp | |
Street Fightter V – Premier | Marnus van der Merwe | Hoërskool Klerksdorp | North West |
Tekken 8 | Stasch Cloeta | Team PlayBell | Western Cape |
Valorant – Premier
|
TuksValorant | ||
Tapiwanashe Keith Matema | TuksEsports | Gauteng | |
Kyle Halvorsen | TuksEsports | Gauteng | |
Jaden Connor Swarts | TuksEsports | Gauteng | |
Ronald James Tyler Wheeldon | TuksEsports | Gauteng | |
Alejandro Luca Sartini-Kruger | TuksEsports | Gauteng | |
Armand Pierre van der Colf | TuksEsports | Gauteng | |
Sportsmanship Award | Je’nielle Cavanagh | PES Society |
The post Team ATK Oshun excels at 2024 Online Championships held on 13 April 2024 appeared first on European Gaming Industry News.
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