Record Q4 drives financial growth at GIG

Gaming Innovation Group (GIG) posted growth across various key financials in 2017 after it was boosted by a record performance in the fourth quarter.

Operating revenue in the 12 months to December 31, 2017, came in at €120.4m ($148.9m), which represents an increase of 125% on the €53.5m posted in the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to €120.4m, up 115% on 2016, while marketing expenses also rocketed by 147% to €41.7m.

For the final three months of the year, operating revenue rose 86% year-on-year to a record €39.9m.

B2B revenue in the fourth quarter amounted to €18m, up by 255% on the same period last year, while B2C revenue jumped 42% to €25.4m.

EBITDA also climbed from €3.9m to €7.9m, while marketing expense were up to €13.1m.

Robin Reed, chief executive of GIG, said: “Through the last three months of 2017 we made solid progress across the organisation – and reached the target of revenues above €120m for the full year.

“Our goal is to re-invent the value chain in the industry, replacing it with an open and connected eco-system, benefitting users, suppliers and operators alike.

“We have taken large strategic and organic steps throughout 2017; the effects have now started to be evident in the financial performance and going forward, this trend will be strengthened.

“We look forward to a 2018 where we expect to see more positive results from the initiatives we have made – and those that we have in the pipeline.”

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