GiG posts 78% jump in third quarter revenue

Business News

Gaming Innovation Group topped revenue expectations with its third-quarter earnings results posting a 78% increase.

GiG generated revenues in Q3 2020 of €17.9m (10.1), 78% growth Y/Y and 8%. Adjusted revenues were €14.2m (10.0), 42% growth Y/Y and 8%

Highlights include results from a long term agreement with Slotbox, a creation of Ireland’s leading casino group for the provision of GiG’s iGaming platform, omnichannel solution and frontend development to launch their new online casino.

GiG also signed a long-term agreement with Bet Seven Online for the provision of GiG’s platform, frontend development and managed services to launch its first brand, SuperSeven.

As part of the strategy to end white label agreements, GiG has rescinded its Swedish and UK licenses.

“The growth in financial performance is complemented with strong success in the platform sales funnel which resulted in six additional long term contracts signed in the quarter, securing future recurring revenue growth from regulated markets”, says Richard Brown, CEO of GiG.