GiG Posts Stellar Performance in Q4 2022
Gaming Innovation Group Inc. has completed the financial reports for the last three months of 2022, seeing key performance markers increase
The company’s chief executive, Richard Brown hailed what he saw as very strong growth for the Group’s revenues and EBITDA which increased by 44% and 71% respectively. The company presented a further breakdown of some of the main milestones achieved in the three-month period that ended on December 31.
Record Performance for GiG’s Assets
For starters, the group achieved its all-time high revenues, reaching €26 million ($27.9 million) or a 44% increase year-over-year. Another noteworthy performance was registered in the company’s EBITDA, as noted by Brown, which was up 71%. The EBITDA stood at €10.8 million ($11.6 million) over the period.
EBIT stood at €4 million ($4.3 million), the company said. GiG Media also drove all-time high revenues of €17.8 million ($19.10 million), or an increase of 40%. Platform & Sportsbook revenues posted another all-time high, the company noted with €8.2 million ($8.8 million). The company similarly looked into some of the optional highlights that it considered were worth sharing and reflective of the progress GiG drove over the period.
Notably, the company said that it had been able to successfully acquire a group of casino affiliate websites, including Newcasinos.com, AskGamblers, Johnslots.com, and a number of other smaller domains. The company similarly managed to launch four new brands, with two focused firmly on the regulated gambling market in Ontario, Canada.
Results Go Up Across the Board
GiG was particularly happy to see its Platform & Sportsbook business sign six new agreements during the reported period. GiG Media was able to beat its previous record for quarterly revenue and player intake with as many as 115,900 FTDs registered, up 91%. The number of live brands the Group has as of the end of the reporting period stood at 62.
Not least, the Group also obtained the ISO 20000 certification, reflective of its robust core offer. GiG Media was also able to sign new commercial partnerships with News Corp UK & Ireland Limited, and provide sports betting and casino content for The Sun and talkSPORT.
This partnership has already been able to deliver what the company called material results. The acquisition of AskGamblers was also completed in January, the company noted in some of its after-Q4 highlights and events section of the report.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
