Gig Hails Q3 Results

Expects to exceed FY2016 targets

Gambling solutions provider Gaming Innovation Group (GIG) released encouraging Q3/2016 results Wednesday.
Financial highlights for the 12-week period include:
– Operating revenues of Euro 14.5 million (incl. Euro 2.7 million from Betit), up 50 percent from Euro 9.7 million in Q2/2016
– Organic revenue growth of 23 percent quarter-on-quarter.
– B2C revenues of Euro 11.4 million, up 76 percent from Euro 6.4 million in Q2/2016.
– B2B revenues of Euro 4.9 million, up 6 percent from Euro 4.3 million in Q2/2016.
– EBITDA of Euro 1.07 million, up from Euro 0.96 million in Q2/2016 (incl. Euro 0.34 million in transaction expenses).
– Marketing expenses amounted to Euro 5.4 million (35 percent of revenues), compared to Euro 3.6 million in Q2 (37 percent of revenues).
According to GIG, its online gaming operation Rizk has outperformed expectations during its first nine-months of operation. The company is preparing to roll the product out in several new markets during 2017.
"During the recent year we have successfully transformed from a marketing firm to a technology company. We have throughout this period recruited approximately 250 new employees and built a strong organisation to secure growth and develop the company further. We have exceeded our goal of 20 signed iGC-clients by year end, a result of the efforts of our highly skilled employees and the company's innovative solutions", Robin Reed, chief executive officer of GIG said.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,446
Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.

See More Posts