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Gaming Innovation Group Inc. (GiG) reports Q3 2022 revenue* of €22.9 million and Adjusted EBITDA of €8.5 million.
GiG CEO Richard Brown said:
financial highlights
Record revenue* of €22.9m (16.9) in Q3 2022, up 35% year-on-year, of which 24% was organic
EBIT was €2.5 million (2.1) and the EBIT margin* was 10.8% (12.6%).
Adjusted EBITDA of €8.5 million (5.8), +47%; Adjusted EBITDA margin* increased to 37.0% (34.1)
GiG Media’s record revenues of €15.1m (11.2), up 35%, adjusted EBITDA of €6.8 (5.1)
Platform & Sportsbook revenue* was €7.8m (€5.7m), up 36%, of which 3% was organic (14% organic, contributions), adjusted EBITDA of €1.7 million (0.6)
Positive net profit of €600,000 (0.0) Positive operating cash flow of €10 million (8.0)
Operational highlights GiG Media hits his 7th consecutive quarterly record high in quarterly revenue and players, FTD up 85% he finished with 86,500 (46,700)
Granted supplier license in Ontario, Canada, first two of his brands go live in Q4 Platform & Sportsbook said he signed six new contracts during the quarter. Three in Europe, two in LATAM and one in North America.
Signed Agreement to Support Online Deployment of Major Land Operators, Strengthening GiG’s Position in Large and Growing Latin American Market So far, three brands have gone live in Q4 2022
Events after Q3 Four brands went live in Q3 2022, with 62 active brands at the end of the quarter