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Gaming Innovation Group reports Q2 2021
Gaming Innovation Group Inc. (GiG) reports Q2 2021 revenues* of €16.2 million and an EBITDA of €5.3 million.
“Another rewarding quarter for GiG, with meaningful growth in revenues, EBITDA and EBIT as well as underlying business dynamics. The Company is progressing towards our business growth & expansion strategies, improving delivery and future position of the group”, says Richard Brown, CEO of GiG.
Financial Highlights
- Revenues* in Q2 2021 were €16.2m (13.2), an increase of 23%, all organic growth
- EBITDA was €5.3m (2.8), up 86%, EBITDA margin* increased to 32.6% (21.6%)
- Revenues in Media Services at all-time high of €11.0m (8.6), an increase of 28%, with an all-time-high EBITDA of €5.3m (4.8)
- Revenues* for Platform Services were €5.1m (4.7), an increase of 9%, with a positive EBITDA of €0.2m (-0.9)
- Positive EBIT of €2.1m (-2.2), an improvement of €4.3m
- Positive cash flow from operations of €3.4m (10.1)
- Strengthening of the balance sheet through conversion of €8.5m convertible loan and refinancing of bond, maturity extended to June 2024
Operational Highlights
- Signed an agreement for the provision of GiG’s iGaming platform to power a new online casino for the European market, operating on its own license
- Signed an agreement with current partner PlayStar Casino, for the provision of GiG’s iGaming platform technologies to power the brand’s expansion into the state of Pennsylvania
- One new brand was launched in Q2 and the development for three additional brands are now complete, whereof one went live on the platform in August with the remaining pending the clients’ decision to launch, expected in Q3 2021
- Media Services continued its positive development in the quarter, with all-time high revenues and player intake
- Entered three new markets in Media and three in Platform
- Sports Betting Services continued to improve operations, securing a sound cost base for future growth
- Winner of Full Service Platform of the year at EGR iGaming awards and Top 3 in EGR Power Affiliates 2021
Events after Q2
- One brand went live in August, two additional brands are development complete and ready to go live, and the remaining integration pipeline are progressing towards their project plans
- July has developed positively, and revenues are up 10% compared to the same period last year, and adjusted for terminated white-labels and Germany, revenues are up 26%
*Revenues are adjusted for revenues from a platform client where GiG recognizes the full operations in its profit and loss statement, which are partly offset by related cost of sales and site overheads. Cost of sales, marketing expenses and EBITDA-margin are adjusted accordingly. See Note 2 in the Q2-2021 Interim Report for more details.
Investor presentation and webcast
CEO Richard Brown will present the Q2 2021 results via livestream at 10:00 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/816681/live-q-gaming-innovation-group

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PAGCOR chief pushes for stricter regulation, not online gaming ban
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco on Monday, September 8, pushed for stricter regulations for online gaming instead of an outright ban, saying that prohibition would only encourage illegal operations and deprive the government of needed revenues.
Speaking before industry stakeholders at the Light & Wonder iGaming Symposium at Newport World Resorts in Pasay City, Mr. Tengco said reforms implemented by PAGCOR — including reductions in license fee rates — has spurred robust growth in the electronic gaming sector.
From Php58.16 billion in 2023, gross gaming revenues (GGR) from Electronic Games climbed to Php154.51 billion in 2024 which accounted for nearly half of the industry’s Php372.33 billion GGR.
In the first half of 2025 alone, the sector contributed Php114.83 billion, surpassing revenues from land-based operations and boosting PAGCOR’s total revenues to Php59 billion.
“The iGaming story in the Philippines is no longer just about growth; it’s about how we grow — safely, fairly, and sustainably,” Mr. Tengco said. “We support stricter regulations to protect our people, but we are against a total ban which will only drive players to illegal operators and result in loss of revenues and jobs.”
Mr. Tengco also emphasized PAGCOR’s ongoing reforms, including the separation of regulatory and operational functions, stronger responsible gaming safeguards, stricter advertising standards, the upcoming launch of a 24/7 helpline, and the adoption of digital tools such as the PAGCOR Guarantee portal and AI-driven monitoring systems.
He also called on industry players to practice “compliance by design” in their operations, strictly follow anti-money laundering regulations, strengthen their KYC (Know Your Customer) guidelines, and fully support PAGCOR’s Responsible Gaming initiatives.
“With responsible growth, compliance, and transparency, the Philippines can develop a safer, stronger, and globally competitive iGaming industry,” he added.
Mr. Tengco also expressed gratitude to Light & Wonder for organizing the event, highlighting its role as a key partner in strengthening the country’s gaming sector.
Light & Wonder, a global leader in cross-platform gaming, provides content, systems, and solutions for casino, online, and social gaming operators worldwide. Its innovations have supported PAGCOR in broadening product offerings and keeping the Philippine gaming industry competitive in the rapidly evolving iGaming market.
The post PAGCOR chief pushes for stricter regulation, not online gaming ban appeared first on European Gaming Industry News.
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Swedish mom bet SEK 10 and won a jackpot of over SEK 41 million
A mother in Knivsta, Sweden, could hardly believe her eyes when she recently played the slot game Reel King Riches Jackpot King on LeoVegas. With a bet of just SEK 10, she quickly entered a bonus round, where the screen lit up with the words “Jackpot King” and the amount SEK 41,509,344, equivalent to approximately EUR 3,775,603 or GBP 3,275,917. She now plans to pay off her mortgage and invest for the future.
The winner, who wishes to remain anonymous, usually plays a variety of games, with her favorite being the classic Book of Dead. But on this particular day, she decided to try her luck on Reel King Riches Jackpot King from Blueprint Gaming—a decision she will never forget. After selecting a SEK 10 bet and pressing the spin button, the game swiftly triggered a bonus round. Moments later, it was clear: she had hit the top prize, Jackpot King, worth a total of SEK 41,509,344 (EUR 3,775,603/GBP 3,275,917).
“It’s completely unreal! I thought, this can’t happen to me. When the words Jackpot King appeared and the numbers started rolling, I couldn’t believe it was true—I was in shock. Is this really happening? I told my partner right away, and he didn’t believe it either. But it was real! Now I’ll be investing for the future and paying off the mortgage!” says the winner of the jackpot worth over SEK 41 million.
“This is one of the biggest jackpots ever at LeoVegas, and we are incredibly proud to bring this kind of excitement to players in Sweden. I would like to congratulate her once again on the win and wish her the very best with her future investments!” says Mattias Wedar, CEO of LeoVegas Group.
LeoVegas Group offers an ever-growing jackpot, which now stands at over SEK 388 million, across its online casinos LeoVegas, expekt, and BetMGM. All of the Group’s brands, including GoGoCasino, feature games from the Reel King series, with Reel King Riches Jackpot King available on several of them.
The post Swedish mom bet SEK 10 and won a jackpot of over SEK 41 million appeared first on European Gaming Industry News.
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EXPRESSVPN JOINS TEAM VITALITY AS OFFICIAL PARTNER TO ENHANCE ONLINE SECURITY
- Team Vitality is proud to welcome ExpressVPN as an official partner. This collaboration brings together one of the leading digital privacy services with one of the most successful international esports clubs, aligning seamlessly with the needs of gamers, streamers, and esports fans across more than 180 countries.
- Already active in the gaming ecosystem, ExpressVPN will provide tangible benefits to Team Vitality’s community of fans, staff, and players, optimizing and securing their digital experience.
- By joining forces with a world-renowned digital privacy partner such as ExpressVPN, Team Vitality reaffirms its position as a leader in the global esports industry. Together, the two brands share a mission: to raise awareness around the importance of digital security while giving users greater control over their online experience.
Team Vitality is delighted to welcome ExpressVPN to its family of official partners. Designed to meet the needs of gamers, ExpressVPN’s technology is a natural fit for the esports community. For Team Vitality, this collaboration reflects shared values of performance and innovation, while placing digital privacy and security at the heart of joint initiatives aimed at a new generation of players and fans.
ExpressVPN has also recently partnered with the League of Legends EMEA Championship (LEC) 2025 and Premier League club Tottenham Hotspur. This new agreement with Team Vitality marks another step in ExpressVPN’s commitment to esports and its international growth.
AN EXCLUSIVE LAUNCH FOR THE TEAM VITALITY COMMUNITY!
The one-year partnership will span Team Vitality’s main competitive titles in Europe. Throughout the season, ExpressVPN and Team Vitality will deliver unique activations tailored to the esports community and Vitality fans worldwide.
Starting today, supporters of the club can enjoy a 14-day free trial of ExpressVPN through a dedicated platform, via this link expressvpn.com/vitality.
A VPN is a vital tool for gamers to have in their digital toolbox, offering:
- Protection against DDoS attacks and ISP throttling
- More stable connections and reduced ping during competitions
- Lag free access to your favourite gaming streamers
- Enhanced security on public Wi-Fi networks
This partnership reflects ExpressVPN’s commitment to delivering a fast, secure, and transparent digital experience for all. By taking advantage of an ExpressVPN subscription, players and fans alike can safeguard their online privacy across multiple devices simultaneously, while tapping into a worldwide network of servers. Its proprietary Lightway protocol is engineered for speed and efficiency, offering strong protection against DDoS attacks and ISP throttling. This means gamers can maintain a secure, high-performance connection that keeps them competitive during play. Additional activations will be rolled out across the year to provide practical, meaningful solutions for the esports community.
DRIVING BETTER DIGITAL EXPERIENCES FOR ESPORTS FANS
In a world where gamers and fans live increasingly online, ExpressVPN and Team Vitality aim to continue to empower online users by raising awareness of the importance of cybersecurity and supporting the gaming community to take greater control over their digital lives.
This partnership also underscores Team Vitality’s ability to attract leading global brands through strategic marketing initiatives. Together with ExpressVPN, the focus will be on delivering innovative, high-value solutions to an engaged international community. Leveraging Team Vitality’s advanced expertise in brand marketing, the two organizations will launch impactful campaigns throughout the year.
“We are thrilled to welcome ExpressVPN as one of our official partners. As Team Vitality strengthens its position as a leader in global esports, working with a recognized digital security brand like ExpressVPN perfectly aligns with our mission to serve our international community. Together, we want to drive performance and deliver the best possible digital experience to our fans. We cannot wait to kick off this exciting season.” said Nicolas Maurer, CEO and Co-Founder of Team Vitality.
“We’re excited to squad up with Team Vitality, one of the most competitive and successful organizations in esports. Like Vitality’s players, we’re focused on keeping the win streak going, whether that’s protecting against DDoS attacks, securing fast and stable connections, or giving gamers a free pick to play wherever they are. We’ve seen first-hand how our partnerships come in clutch for the gaming community, most recently as a Summer Split Partner of Riot Games. We can’t wait to build on that success with Vitality’s players and fans around the world.” added Zac Eller, GM, Global Partnerships, ExpressVPN.
The post EXPRESSVPN JOINS TEAM VITALITY AS OFFICIAL PARTNER TO ENHANCE ONLINE SECURITY appeared first on European Gaming Industry News.
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