GiG records ‘all-time high’ revenues in strong Q4

Gaming Innovation Group (GiG) has released its financial statement for the final quarter of 2021, showing a promising revenue of €18.2 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of €5.6 million.

This revenue figure was 29 per cent higher than in the same quarter a year earlier, and the EBITDA was 35 per cent higher than a year earlier.

The company's CEO, Richard Brown, commented on the results, saying: "We have closed off 2021 with another strong quarter with revenues up 29 per cent to an all-time high... and importantly we have laid a truly exciting and expansive structure in place to further accelerate our global ambitions via the acquisition of SportnCo."

During the quarter under consideration, GiG recorded a number of operational highlights.

Particularly notably, it signed a Sales and Purchase Agreement (SPA) in December to acquire Sportnco Gaming, with the closure of this sale expected to come in the first quarter of this year.

The company's Media Services division also performed well, reaching a fourth successive all-time high in quarterly revenue and player intake.

GuG also signed long term agreements with an "established German operator" that will migrate its existing brand to GiG's platform and with Rank Entertainment Holdings to power the worldwide growth for their brand Marina888.

Two new brands were launched in Q4, and two additional brand developments completed at year end.

Since the quarter finished, GiG also excitingly signed a three-year extension to its long-term agreement with Betsson Group, taking the term of the contract to Q4 2025.

Two new brands are now live so far in 2022, and the remaining integration pipeline is progressing towards its plans.

Additionally, January is said to has developed positively, with revenues up 20 per cent compared to last year.