GIG obtains Class 4 Remote Gaming License
Gaming Innovation Group obtains Class 4 Remote Gaming License from Malta Gaming Authority for subsidiary BettingCloud Ltd. and reveals plans to offer host of sports betting services within the year.
Gaming Innovation Group’s Q3 results announced profitable growth. 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).