GIG continue to grow and reports all time high revenues of EUR 26.6 million in the quarter. Revenues are driven by organic growth across all business areas. EBITDA for the group ended at EUR 1.9 million, corresponding to a margin of 7.3%. The company withdrew its B2C brands from non-core markets during Q2, now focusing on expanding operations and market presence in the Nordics, UK & Ireland and Western Europe.

“We continue to expand our business at a rapid pace. We have made important affiliate acquisitions during 2017 which will strengthen our traffic driving capability and increase activities and volumes for all stakeholders in GIG’s eco-system. In parallel with launching innovative iGaming services, we are progressing towards our goal of becoming the leading iGaming company from the Nordics”, says Robin Reed, CEO of GIG.

Financial highlights Q2 2017

• Operating revenues of EUR 26.6 million, up 15% from EUR 23.1 million in Q1 2017 and 174% from EUR 9.7 million in Q2 2016
• Organic revenue growth of 10% from Q1 2017 and 71% from Q2 2016
• EBITDA of EUR 1.9 million, up from EUR (0.4) million in Q1 2017 and EUR 1.0 million in Q2 2016
• B2C revenues of EUR 20.2 million, up 9% from Q1 2017 and 213% from Q2 2016
• B2B revenues of EUR 8.5 million, up 36% from Q1 2017 and 108% from Q2 2016
• Marketing expenses of EUR 11.1 million (42% of revenues) compared to EUR 10.9 million in Q1 17 (47% of revenues)

Operational highlights Q2 2017

• GIG Gaming: Geographic expansion to regulated markets driving accelerated growth, despite closure of non-core markets
• GIG Media: Achieving the largest presence in casino related search results in the Nordic markets – aiming to be the largest affiliate in iGaming
• iGamingCloud (iGC): Migration of first, large, existing, external customer completed- company scaling up platform to support larger brands
• 30 brands operational on the iGC-platform, including GIG’s own brands

Outlook

• Maintain guiding of EUR 120 million in revenues for 2017, exclusive of revenues from acquired operations
• Continue expansion of GIG Gaming brands in Nordics, UK and Western Europe
• Increased performance and scale to the iGaming Cloud platform through new BI offering and migration to new servers
• Recent affiliate acquisitions to increase geographical and vertical footprint.