GiG reports Q2 2018
Gaming Innovation Group reports EUR 36.9 million in revenues in Q2 2018, a 39% increase over Q2 2017. EBITDA for Q2 2018 was EUR 1.7 million, compared to EUR 1.9 million in Q2 2017.
In Q2, GiG entered the largest category in iGaming, sports betting, with a portfolio of products and the launch of the new sportsbook on Rizk.com. The Company’s platform service, GiG Core, was licensed in the regulated US market of New Jersey and operations started through our partnership with Hard Rock International.
“GiG has invested significantly to expand across all verticals of iGaming. We are building to become the one stop shop for every company serious about its iGaming business. With the majority of the heavy-lifting behind us and the strongest season ahead of us, we should see growth in both revenues and profits in the coming quarters, while working towards our goal of becoming the largest full service company to the iGaming industry”, says Robin Reed, CEO of GiG.
Operating revenues of EUR 36.9 million, up by 39% from Q2 2017. Organic revenue growth of 30% compared to Q2 2017 EBITDA of EUR 1.7 million, compared to EUR 1.9 million in Q2 2017 ,B2B revenues of EUR 15.6 million, up by 84% from Q2 2017, B2C revenues of EUR 24.2 million, up by 20% from Q2 2017, Marketing expenses of EUR 13.2 (11.1) million, 36% of total revenues, down from 42% in Q2 2017.