GiG sees revenues up 29% to an all-time high for Q4

Gaming Innovation Group Inc (GiG) reported Tuesday its Q4 2021 results, with revenues accounting for €18.2 million ($20.6 million)  and an EBITDA of €5.6 million ($6.3 million). 

According to the company’s report, 2021’s final quarter saw an increase in revenue of 29% in a year-over-year comparison. EBITDA also saw a 35% growth and a margin increased to 30.7% (29.1%). 

Revenues in Media Services saw an all-time high of €12.8 million ($14.5 million), an increase of 42%, with an all-time high EBITDA of  €5.7 million ($6.4 million). Revenues for Platform Services also increased by 8%, reaching €5.3 million ($6 million).

In an official press release, Richard Brown, CEO of GiG, spoke about Q4’s numbers and said: “We have closed off 2021 with another strong quarter with revenues up 29% to an all-time high, and an EBITDA up 35% compared to the fourth quarter of 2020, and importantly we have laid a truly exciting and expansive structure in place to further accelerate our global ambitions via the acquisition of SportnCo”. 

During the last quarter of 2021, the company signed a SPA in DEcember to acquire Sportnco Gaming, with closing expected during Q1 2022. GiG also signed a long-term agreement with an established German operator that will migrate its existing brand to GiG’s iGaming Platform. 

In terms of expansion, GiG has also signed a long-term platform agreement with Rank Entertainment Holdings to power the worldwide growth for their brand Marina888. 

During the first month of 2022, the company signed a three-year extension to the long-term agreement with Betsson Group, taking the term of the contract to Q4, 2025.