Revenues at ‘all time high’ for Gaming Innovation Group

Revenues at 'all time high' for Gaming Innovation Group

It has been announced today that revenues for the three months ending 2021 are at an all time high for Gaming Innovation Group as the company reports its fourth quarter financial figures.

The firm has reported revenue of around €18 million for the fourth quarter of 2021 and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of €5.6 million.

Without a doubt this is outstanding news for gambling platform provider GiG as it ended the year on strong footing, with revenues up almost 30% compared with the same period in the previous year.

Following the peak of the global pandemic, the company has maintained a strong position in the betting and gaming industries and are consistently looking to ‘accelerate’ ambitions with EBITDA up 35% on last year and the acquisition of SportnCo.

SportnCo is a leading online betting and gaming platform that provides various solutions to operators around the world in major regulated markets.

This news also sees the gambling firm report positive cash-flow from operations of more than €1 million and revenues in media services also at an all time high of almost €13 million, up some 42% from the same period in the previous year.

Additionally, during the fourth quarter of 2021, Gaming Innovation Group recorded record revenue and player intake figures along with signing a platform partnership deal with Rank Entertainment Holdings for collaboration on the operators Marina888 brand.

What’s more, the firm has signed a three year extension with leading operator Betsson, which builds on the existing deal, taking the contract through to the end of 2025.

According to reports, two new GiG brands have already gone live so far this year and January was a positive month with revenues up some 20% compared with the same month in the previous year.

Richard Brown of Gaming Innovation Group commented on the positive news:

We have closed off 2021 with another strong quarter with revenues up 29% to an all-time high, and an EBITDA up 35% compared to the fourth quarter of 2020, and importantly we have laid a truly exciting and expansive structure in place to further accelerate our global ambitions via the acquisition of SportnCo.

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