GiG Publishes All-Time High Q4 Results

Gaming Innovation Group (GiG) has published its Q4 2023 financials, reporting increases across the board. The company’s metrics for the period were very strong, underpinned by the company’s robust business strategy.

GiG’s Q4 2024 revenues stood at EUR 35.6 million (38.2 million). This is notably the highest quarterly revenue ever recorded by the group and represents an increase of 37% year-on-year. GiG added that 20% of the revenue increase was organic. For reference, GiG posted revenue of EUR 26 million in Q4 2022.

The company also reported underlying EBITDA of EUR 14.2 million ($15.2 million), representing a 32% increase YOY.

In the meantime, the GiG Media division recorded an all-time high quarterly revenue of EUR 26.5 million (28.4 million). This marks an increase of 49%, whereof 24% organic. The Platform & Sportsbook division, on the other hand, recorded revenues of EUR 9.1 million ($9.8 million), an increase of 11%.

GiG said that GiG Media recorded strong organic growth throughout 2023, underpinned by the successful integration of AskGamblers into its business. In the meantime, the company attributed the growth of its platform business to a more experienced management team and a well-received new product offering.

In conclusion, GiG said that both the GiG Media and Platform & Sportsbook businesses are poised for further growth and are positioned to provide shareholder value from 2024.

Another notable highlight is the bond refinancing that was completed in Q4, providing the company with additional stability.

GiG’s Business Is Going from Strength to Strength

Petter Nylander, Gaming Innovation Group’s chair, commented on the results, praising the strong performance of his company.

The positive momentum continued, with revenues soaring to EUR 35.6 million, representing a solid 37% year-over-year increase and marks the twelfth consecutive quarter of record-breaking revenue, showcasing the resilience and strength of our business.

Petter Nylander, chair, GiG

Nylander added that both of GiG’s divisions are positioned to provide shareholder value from 2024 as standalone businesses.

In Q4, GiG also completed its acquisition of KaFe Rocks, a deal that sets it up to become an undisputed leader in the casino affiliate sector.

In more recent news, GiG extended its existing iGaming platform deal with Casumo.