Gaming Innovation Group Inc. (GiG) reports Q4 2023 revenues* of €35.6 million, up 37% YoY.
“I am delighted to share with you the continued strong performance of our company during the fourth quarter of 2023. The positive momentum continued, with revenues soaring to €35.6 million, representing a solid 37% year-over-year increase and marks the twelfth consecutive quarter of record-breaking revenue, showcasing the resilience and strength of our business. Both GiG Media and Platform & Sportsbook are well positioned to provide shareholder value from 2024 as standalone businesses”, says Petter Nylander, Chairman of GiG.
Highlights
Gaming Innovation Group achieved all-time high revenues* in Q4 2023 of €35.6m (26.0), an increase of 37% YoY, whereof 20% organic
Adjusted for one-offs and split related costs, underlying EBITDA was €14.2 million, up 32%.
Revenues in GiG Media at all-time high of €26.5m (17.8), an increase of 49% (24% organic)
Revenues* for Platform & Sportsbook were €9.1m (8.2), an increase of 11%
GiG Media has gone from strength to strength throughout 2023, with strong organic growth and successful integration of AskGamblers into the business.
Platform business substantially strengthened in 2023, with a more experienced management team and a well-received new product offering in the market
Both businesses are well positioned to provide shareholder value from 2024 as stand alone businesses
Bond refinancing completed in the quarter creating stability for the Company going forward
Making notable strides in the strategic review, anticipating the execution of the Platform and Media split by the end of Q2-24.
*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. See Note 3 in the Q4-2023 Interim Report for more details.
Investor presentation and webcast
Chairman of the Board, Petter Nylander will host a presentation of the Q4 2023 results via livestream at 10:00 CET with Jonas Warrer, CEO Media and Group CEO, and Richard Carter, CEO Platform & Sportsbook, attending. 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.
