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Malta – GiG CEO commends ‘strong start to the year’

By - 5 May 2021

Richard Brown, CEO of Gaming Innovation Group, has commended the company’s ‘strong start’ following a 64 per cent increase in revenues to €18.3m.

“The first quarter of 2021 is a strong start to the year and another positive step forward for Gaming Innovation Group, with strong results driven from the work and strategic initiatives pushed through in the last 12 months,” Mr. Brown said.

“We are happy with the overall progress, and look forward to continuing to grow towards our long term objectives.”

Normalised revenues were €15.4m, an increase of 44 per cent, EBITDA was €4.6m (up 674 per cent) and normalised EBITDA margin increased to 29.6 per cent.

Normalised revenues for platform services were €5.2m (up 19 per cent), with a positive quarterly EBITDA of €0.3m. Media service revenues reached an all-time high of €10.0m, an increase of 23 per cent with an EBITDA of €4.6m.

EBITDA for sports betting services was €-0.4m, an improvement of €1.3m, driven by operating expenses reduction of 75 per cent.

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