New Q2-2016 records for Gaming Innovation Group

The Norwegian Gaming Innovation Group, which operates online gambling sites, has reported record Q2-2016 results with positive growth in both revenue and EBITDA.

Highlights of the report include:

* Operating revenue up year-on-year 23 percent at Euro 9.7 million;

* Gross margin up a percentage point at 85 percent;

* EBITDA positive at Euro 0.96 million, up Euro 1.93 million on the previous Q1 2016 loss of Euro 0.07 million;

* Marketing investment up at 43 percent of revenue (Q1-2016: 37 percent);

* First time depositors increased to 11,400, a quarter-on-quarter rise from 4,700 on the first quarter of 2016;

* The company’s iGamingCloud product signed three new clients during the quarter, boosting total clientele to 13;

* Sports betting technology revamp on track for completion in Q1-2017;

* The group acquired developer and provider of online casino services Betit Group to expand B2C business.

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