Gaming Innovation Group Inc. ("GIG") experienced a strong August with all time high revenues, despite the negative seasonality multiplier generally applicable for Nordic iGaming companies in the period. In September the seasonality multiplier is slightly improving with vacation periods ending, and football competitions having commenced all across. This development will favor GIG across all its three business areas.
In June, GIG agreed to acquire all of the shares in rapid growing iGaming operator Betit Group, and a final share exchange agreement was signed in August, finalizing the deal. The integration of both operations has recently been initiated, and Betit figures will be included in the operational update from September. The issue of new shares to Betit’s owners is pending final approval from Malta Gaming Authority and finalization of an Information Memorandum as per Oslo Børs’ regulations, which is expected within 1-2 weeks.
Gross gaming revenue (GGR) continued to increase to a new all time high for GIG’s gaming sites Guts.com, Rizk.com and Betspin.com in August. Total deposits were €10.4 Million, up 8.5% from July, and margins obtained were 3.64% for casino and 6.07% for sports betting. Sports betting margin was adversely affected by the out of season period, which featured a higher exposure to irregular sports and less liquidity.
Total active real money players for the three-month period June-August were 88,440, an 8.3% increase from 81,665 for the period May-July. The strong figure is a result of a positive trajectory in the retention of casino customers for the period. Of the total number of players, 79,159 only played casino, 3,316 only played sports and 2,322 only played poker. The remaining 3,643 were active in more than one category. Free bet players are excluded from the number of active players. Total registered users on GIG’s iGaming sites Guts.com, Betspin.com and Rizk.com were 505,836 as of 31 August 2016, compared to 473,004 as of 31 July 2016.
Cloud based Services
GIG’s cloud based platform service iGaming Cloud‘s (iGC) overall performance has been positive, and sixteen external clients were live by the end of August. An additional client, which was expected to go live in August, has been delayed by their choice, and is expected to go live mid-September.
GIG launched its first Tier-1 brand on the platform in August. Dafabet has opted to use iGC for its sportsbook operations for the launch in two new markets, and will subsequently evaluate the services for further market opportunities. Dafabet is the official sponsor of premier league teams Everton, Sunderland and Burnley.
The Company signed one new client in the period bringing the total amount to 19 signed clients that will operate 23 brands, and with an expected combined annual net contribution of EUR 8.3 million.
Digital Marketing Services
GIG’s affiliate operations in Innovation Labs referred around 3,000 first time depositors (FTDs) to own and affiliated operators in July, a decrease from around 3,200 in July due to seasonal effects. Despite the decrease in FTDs, the Company registered an increase in commissions made from partnering operators.
For further information, contact:
Robin Reed, CEO, +356 9999 0382,
Gaming Innovation Group Inc. is an emerging gambling solutions and interactive entertainment provider. The Company 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”.
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