Gaming Innovation Group (GIG), in the release of its Q4 2017 results, reported profitable growth along with all time high quarterly revenues of Euro 39.9 million and EBITDA of Euro 7.9 million attributed to growth in recurring B2B revenues.
Robin Reed, chief executive officer of GIG, said: “We have taken large strategic and organic steps throughout 2017. The effects have now started to be evident in the financial performance. Going forward this trend will be strengthened. We look forward to a 2018 where we expect to see more positive results from the initiatives we have made – and those that we have in the pipeline.”
Financial highlights Q4 2017 compared to Q4/2016 include:
Operating revenues of Euro 39.9 million, up 86 percent from Euro 21.5 million.
Organic revenue growth of 67 percent.
EBITDA of Euro 7.9 million, up from Euro 3.9 million.
B2B revenues of Euro 18.0 million, up 255 percent.
B2C revenues of Euro 25.4 million, up 42 percent.
Marketing expenses of Euro 13.1 million, compared to Euro 7.0 million y-o-y.
Financial highlights full year 2017, include
Operating revenues of Euro 120.4 million (2016: Euro 53.6 million), up 125 percent.
EBITDA of Euro 12.5 million, up 115 percent from Euro 5.8 million in 2016.
Marketing expenses amounted to Euro 47.1 million, up 147 percent from Euro 19.1 million in 2016.
“Our goal is to re-invent the value chain in the industry, replacing it with an open and connected eco-system, benefitting users, suppliers and operators alike. I see the recently announced Hard Rock partnership as one evidence of our capabilities to develop these industry leading services.”
GIG is targeting a New Jersey license which it expects to receive in the first half of this year while also revealing it is currently exploring several acquisition opportunities.