SBC News Voice of the Sports Betting Industry
Oslo-listed online gambling firm Gaming Innovation Group (GiG) continues its strong 2018 momentum, reporting double-digit growth across all its core corporate metrics and performance KPIs for Q3 2018 trading.
Citing group-wide initiatives undertaken to improve profitability and general performance, GiG records operating revenues of €37 million up 21% on Q3 2017’s €30 million.
Updating investors, the Oslo enterprise details a diverse commercial pipeline delivering revenue growth across its B2B (€15 million + 33%) and B2C divisions (€24 million + 11%).
Confident of delivering on its full-year 2018 expectations, GiG declares a period EBITDA of €5 million up 66% on corresponding 2017’s €3 million.
Moving forward, Chief Executive Robin Reed outlines significant opportunities for GiG which seeks to become online gambling’s leading technology player.
“In the third quarter, we have delivered the last building blocks to our ecosystem, our own games and omni-channel solution, to cover all verticals in iGaming.”
During the period GiG further expanded its international footprint, securing its first external sportsbook agreement with Latvian operator 11.lv, and further becoming chosen digital partner of Hard Rock International for its pending US sportsbook launch.
“We have created a base from where now, with full force, we can drive forward as the full-service provider which every company serious about iGaming must be part of. GiG sees strong interest for its services and products with an increasingly healthy pipeline of opportunities”
Closing the trading statement, GiG governance confirms that it will move to list the company on the Stockholm Nasdaq during Q1 2019.
