EBITDA and revenue both soar at online gambling group
The Norwegian Gaming Innovation Group, which operates online gambling sites, has reported record Q2-2016 results with positive growth in both revenue and EBITDA.
Highlights of the report include:
* Operating revenue up year-on-year 23 percent at Euro 9.7 million;
* Gross margin up a percentage point at 85 percent;
* EBITDA positive at Euro 0.96 million, up Euro 1.93 million on the previous Q1 2016 loss of Euro 0.07 million;
* Marketing investment up at 43 percent of revenue (Q1-2016: 37 percent);
* First time depositors increased to 11,400, a quarter-on-quarter rise from 4,700 on the first quarter of 2016;
* The company's iGamingCloud product signed three new clients during the quarter, boosting total clientele to 13;
* Sports betting technology revamp on track for completion in Q1-2017;
* The group acquired developer and provider of online casino services Betit Group to expand B2C business.
Online Casino News Courtesy of Infopowa