GIG revenues up triple digits in Q3
Oslo-listed firm sees B2B revenues up 171%, with B2C brands expected to contribute a profit from 2018
GIG revenues up triple digits in Q3
Oslo-listed firm sees B2B revenues up 171%, with B2C brands expected to contribute a profit from 2018
Gaming Innovation Group (GIG) has reported a 112% rise in Q3 revenues to €30.8m following “growth across all segments”.
The revenue figure also marked 10% organic growth compared with Q2 2017, and 54% compared with Q3 2016.
EBITDA almost trebled year-on-year to €3m.
“Through the quarter we continued to expand our market presence both strategically and organically,” said Robin Reed, CEO of GIG.
“Near term, we have exciting launches to be made and we are also experiencing increasing interest for our offering in all segments.
“GIG has a strong position in the igaming industry and we are confident that the company is set to continue the profitable growth into 2018.”
The company’s B2B revenues reached €11.6m, up 171% year-on-year, while B2C revenues reached €21.9m, up 93% from Q3 2016
GIG said it expects its gaming brands to contribute with positive EBITDA from Q1 2018 due to operational improvement initiatives and launch of Highroller.com
It also launched seven new brands on the iGaming Cloud platform during the quarter.