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13/02-2018 07:45:02: (GIG) Gaming Innovation Group reports fourth quarter revenues up 29% from third quarter 2017, and up 86% from fourth quarter 2016

In Q4 2017 Gaming Innovation Group Inc. (GIG) continued its profitable growth,
reporting all time high quarterly revenues of EUR 39.9 million and EBITDA of EUR
7.9 million. The increased profitability is driven by growth in recurring B2B
revenues. 

"Through the last three months of 2017 we made solid progress across the
organization - and reached the target of revenues above EUR 120 million for the
full year. The achievements are a testament of the capabilities and value of our
proprietary technology, products and organization. Our goal is to re-invent the
value chain in the industry, replacing it with an open and connected eco-system,
benefitting users, suppliers and operators alike. I see the recently announced
Hard Rock partnership as one evidence of our capabilities to develop these
industry leading services", said Robin Reed, CEO of GIG. 

"We have taken large strategic and organic steps throughout 2017. The effects
have now started to be evident in the financial performance. Going forward this
trend will be strengthened. We look forward to a 2018 where we expect to see
more positive results from the initiatives we have made - and those that we have
in the pipeline", says Robin Reed.

Financial highlights Q4 2017
- Operating revenues of EUR 39.9 million, up 29% from EUR 30.8
  million in Q3 2017 and up 86% from EUR 21.5 million in Q4 2016 
- Organic revenue growth of 25% over Q3 2017 and 67% from Q4 2016
- EBITDA of EUR 7.9 million, up from EUR 3.0 million in Q3 2017 
  and EUR 3.9 million in Q4 2016
- B2B revenues of EUR 18.0 million, up 55% from Q3 2017 and 
  255% from Q4 2016 
- B2C revenues of EUR 25.4 million, up 16% from Q3 2017 and 
  42% from Q4 2016
- Marketing expenses of EUR 13.1 million, compared to EUR
  11.9 million in Q3 2017 and EUR 7.0 million in Q4 2016

Financial highlights 2017
- Operating revenues of EUR 120.4 million, up 125% from 
  EUR 53.6 million in 2016
- EBITDA of EUR 12.5 million, up 115% from EUR 5.8 million in 2016
- Marketing expenses amounted to EUR 47.1 million, up 147%  
  from EUR 19.1 million in 2016

Operational highlights Q4 2017
- Major breakthrough for GIG Platform Services, entering 
  regulated US market through partnership with Hard Rock 
  International
- Successful launch of Highroller.com
- Developed management structure to enable continued, 
  rapid growth and efficiency
- New headquarters and campus in Malta

Outlook
- Seek to be a frontrunner in improving the user experience, 
  regulatory standing and social impact of the industry 
- New sportsbook and games offering to have strong impact 
  on both B2B and B2C
- Aiming for New Jersey license in H1 2018 
- Exploring several acquisition opportunities 
- Sustain strong and governed growth whilst increasing 
  operational efficiency

Investor presentation and webcast:
The company will present the Q4 2017 financial results on Tuesday 13 February
2018 at 10:00 am CET at Hotel Continental, Stortingsgaten 24-26, 0117 Oslo. The
presentation will be given by CEO Robin Reed and it will be transferred via
webcast www.gig.com.

For further information, contact: 
Robin Reed, CEO, +356 9999 0382, 
(Robin@gig.com)

About GIG:
Gaming Innovation Group Inc. is a technology company providing products and
services throughout the entire value chain in the iGaming industry. Founded in
2012, Gaming Innovation Group's vision is "To open up iGaming and make it fair
and fun for all". Through our eco-system of products and services, we are
connecting operators, suppliers and users, to create the best iGaming
experiences in the world. Gaming Innovation Group operates out of Malta and is
listed at the Oslo Stock Exchange under the ticker symbol GIG.

For more information about the Company and our services:
https://gig.com
https://igamingcloud.com
https://i-labs.com
https://www.guts.com
https://www.betspin.com
https://www.rizk.com
https://www.thrills.com
https://www.kaboo.com
https://www.superlenny.com
https://www.highroller.com

Ekstern link: http://www.newsweb.no/index.jsp?messageId=444092

Nyheten er levert av OBI.

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onsdag 21/02-2018 14:12:41