Gaming Innovation Group (GiG) recorded increased revenue growth in its Q1 2018 interim report, with its marketing wing GiG Media also recording considerable growth of 155%.
GiG revenue increased by a sizeable 62% from Q1 2017, coming in at €37.2 million compared to €23.1 million the year previous. 46% of which was organic growth.
Furthermore, the Malta-headquartered firm recorded a positive EBITDA, up to €4.3 million from €-0.4 million in Q1 2017.
“For the first time, we report a positive EBITDA for our gaming business, and we are very excited to launch our new sportsbook with Rizk.com ahead of FIFA World Cup in June,” said GiG’s CEO Robin Reed.
“I am very satisfied with the underlying performance and the shape of the business. We have a healthy pipeline and I look forward with great confidence.”
And with regards to GiG Media, revenue was €8.2 million in the first quarter of 2018, a 155% increase from €3.2 million in the first quarter 2017. Organic growth was 31% from the first quarter of 2017.
GiG also outlined advanced plans for a casino games development studio, entitled GiG Games, set to be launched in Q3 2018.
The report read: “GiG has developed a games engine on top of the remote gaming server, which allows GiG to rapidly produce innovative casino games such as table games and slots.
“These games will be distributed and sold using the remote gaming server to any operator in the industry. There are currently three games under development, which will be launched in Q3 2018 and by the end of 2018 there will be in total six – eight games launched.”
Gearing up for the World Cup
With the runup to the World Cup gaining momentum, the firm also detailed its new proprietary sportsbook offering.
With a view to “empowering the operator to individually tailor its front end look and feel, risk management, number of events and user experience, as well as odds and marketing features”, it is hoped that GiG Sports will see the company achieve full control of the sports betting value chain through proprietary products.