Financial highlights Q3 2016:
- Operating revenues of EUR 14.5 million (incl. EUR 2.7m from Betit), up 50% from EUR 9.7 million in Q2 2016
- Organic revenue growth of 23% Q/Q
- B2C revenues of EUR 11.4 million, up 76% from EUR 6.4 million in Q2 2016
- B2B revenues of EUR 4.9 million, up 6% from EUR 4.3 million in Q2 2016
- EBITDA of EUR 1.07 million, up from EUR 0.96 million in Q2 2016 (incl. EUR 0.34m in transaction expenses)
- TV-campaigns continued for Guts.com and Rizk.com. Marketing expenses amounted to EUR 5.4 million (35% of revenues), compared to EUR 3.6 million in Q2 (37% of revenues)
Operational highlights Q3 2016:
Acquisition of Betit Holdings completed in September, adding three brands to the company’s B2C gaming operations
- RIZK outperforming expectations first nine months of operations, preparing for 2017 roll-out in several new markets
- Exceeded YE 2016 goal of signing 20 clients to the iGaming Cloud platform. 18 external clients live on the platform YTD
- Focus on high value customers in Innovation Labs. FTD’s down 16% and revenues up 10% Q/Q
- Strengthened group management with Mikael Ångmann (COO)
- Focus on converting new players into long term loyal users
- Significant revenue potential in current iGC client base
- Expects to exceed FY 2016 target of 100% revenue-growth
- Expects revenues to exceed EUR 120 million in 2017
“During the recent year we have successfully transformed from a marketing firm to a technology company. We have throughout this period recruited approximately 250 new employees and built a strong organisation to secure growth and develop the company further. We have exceeded our goal of 20 signed iGC-clients by year end, a result of the efforts of our highly skilled employees and the company’s innovative solutions”, says Robin Reed, CEO of GIG.
Investor presentation and webcast:
A presentation will be held in connection with the financial results for Q3 2016 on Wednesday 02 November 2016. The presentation will take place at 11:00 am CET at Felix Konferansesenter, Bryggetorget 3, 0125 Oslo. The presentation will be given by CEO Robin Reed and transferred via webcast at www.gaminginnovationgroup.com.
For further information, contact:
Robin Reed, CEO,+356 9999 0382, [email protected]
Gaming Innovation Group Inc. is an emerging gambling solutions and interactive entertainment provider. The Group offers cutting-edge Cloud based Services and B2B Performance Marketing, and owns B2C gambling operators offering games from the best-of-breed suppliers across the online sports betting and casino industry. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol “GIG”.
For more information about the Group and our services: