Gaming Innovation Group reports Q4 2021
Gaming Innovation Group Inc. (GiG) reports Q4 2021 revenues* of €18.2 million and an EBITDA of €5.6 million.
“We have closed off 2021 with another strong quarter with revenues up 29% to an all-time high, and an EBITDA up 35% compared to the fourth quarter of 2020, and importantly we have laid a truly exciting and expansive structure in place to further accelerate our global ambitions via the acquisition of SportnCo.”, says Richard Brown, CEO of GiG.
- Revenues* in Q4 2021 were €18.2m (14.1), an increase of 29% YoY, all organic
- EBITDA was €5.6m (4.1), up 35%, EBITDA margin* increased to 30.7% (29.1%)
- Revenues in Media Services at an all-time high of €12.8m (9.0), an increase of 42%, with an all-time-high EBITDA of €5.7m (4.3)
- Revenues* for Platform Services were €5.3m (4.9), an increase of 8%, with an EBITDA of €0.2m (0.2). Excluding discontinued white labels, revenues increased 22%
- Positive EBIT of €1.8m (-0.1), an improvement of €1.9m
- Positive cash flow from operations of €1.2m (-0.2), an improvement of €1.4m
- Signed a SPA in December to acquire Sportnco Gaming, closing expected in Q1 2022
- Media Services reached a fourth successive all-time high in quarterly revenue and player intake, FTDs ended at 60,600 (33,200), up 82%
- Signed a long-term agreement with an established German operator that will migrate its existing brand to GiG’s iGaming Platform
- Signed a long-term platform agreement with Rank Entertainment Holdings to power the worldwide growth for their brand Marina888
- Two new brands were launched in Q4, and two additional brands development complete at year end
Events after Q4
- Signed a three-year extension to the long-term agreement with Betsson Group, taking the term of the contract to Q4 2025
- Two new brands live so far in 2022, the remaining integration pipeline are progressing towards their plans
- January has developed positively, revenues are up 20% YoY
*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. Cost of sales, marketing expenses and EBITDA-margin are adjusted accordingly.