Gaming Innovation Group records 20% YoY revenue rise

Gaming Innovation Group (GiG) has posted a 20% year-on-year (YoY) rise in revenue for Q3 2021 as its media services affiliate arm continues to grow. The B2B firm secured €17m in revenue for the reporting period, up from €14.2m in Q3 of last year. Revenue derived from media services reached an all-time high of €11.2m, climbing 30% annually to mark the third successive all-time high in quarterly revenue for the division. GiG’s platform services arm revenue grew 6% YoY to €5.7m. The Malta-based supplier noted that regulatory changes in Germany would have an estimated negative impact of €0.9m when compared to last year. Elsewhere, GiG reported a 67% annual increase in EBITDA to €5.3m and an improved EBITDA margin of 31.3% when compared to 22.5% last year. GiG reaffirmed its long-term targets were to deliver annual double-digit organic revenue growth and to achieve an EBITDA margin in excess of 40% by 2025. Richard Brown, GiG CEO, said: “During the quarter, the company continued to build towards its execution strategy for long-term sustainable growth over the coming years. “Leveraging its diverse portfolio of operations and to prepare for expansion into new markets, development of products and operational performance will enable the company to push towards further success in the coming years. “Cashflow is improving and with a stronger balance sheet compared to this time last year we look to act with greater force on the opportunities ahead of us,” he added. GiG’s share price dropped by 3% in early trading on the Oslo Stock Exchange.