Productive Q2 sees B2B and B2C expansion for GiG

Productive Q2 sees B2B and B2C expansion for GiG

Tuesday, August 14, 2018 Posted by Michael Lawson
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The firm recorded a revenue increase for the quarterly period.

A particularly busy Q2 period for Gaming Innovation Group (GiG) saw the Oslo-listed online gaming firm launch its new sports betting division, expand its German footprint and secure its first US partnership with Hard Rock International.

The firm has also recorded an increase in revenue (up 39% to €36.9 million), but a narrow drop in EBITDA (€1.7 million down from €1.9 million), which was put down to “the strong focus on investments and expansion”.

Furthermore, the Malta-headquartered company stressed a commitment to the US market, after New Jersey’s Division of Gaming Enforcement (DGE) gave the green light to its Hard Rock partnership.

GiG CEO Robin Reed outlined some of the firm’s activities and targets moving forward: “We have kept ourselves more than busy with a range of key initiatives: We have consolidated our brand positioning with an increased focus on fewer brands in key markets.

“We have developed our marketing strategy and organisation with a strong focus on agile performance marketing. We have launched the new sportsbook on our flagship brand Rizk.com and our operator Guts is set to go live next week with its V2.0.

“We have high hopes for Thrills which is being relaunched as a ‘Pay N Play’ casino at the end of this month, and our media department has seen good potential in turning SuperLenny into an affiliate website.

“Finally, we have focused heavily on compliance, introduced a new player safety team with a strong focus on responsible gaming and sustainability. These initiatives are paying off and we have seen healthy KPIs going into Q3.

“With the majority of the heavy-lifting behind us and the strongest season ahead of us, we should see growth in both revenues and profits in the coming quarters, while working towards our goal of becoming the largest full service company to the igaming industry.”

Totally Gaming says: GiG has been busy expanding in a number of ways, so the fact the firm has also managed to increase profits is a particularly big achievement. CEO Robin Reed has insisted GiG is on track to meet its end-of-year targets, and who could argue against that given these results?

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