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Gaming Innovation Group

Gaming Innovation Group

GIG: Gaming Innovation Group reports Q3 2021

08:00 / 9 November 2021 Gaming Innovation Group Press release

Gaming Innovation Group Inc. (GiG) reports Q3 2021 revenues* of  Euro 17.0
and an EBITDA of Euro 5.3 million.

"I am very pleased with the results and the momentum we continued to demonstrate
in the third quarter across GiG's business units. The Company continued to build
towards its execution strategy for long term sustainable growth over the coming
years, leveraging its diverse portfolio of operations and to prepare for
expansion into new markets, development of products and operational performance
that will enable the Company to push towards further success in the coming
years.", says Richard Brown, CEO of GiG.

Financial Highlights

· Revenues* in Q3 2021 were Euro 17.0m (14.2), an increase of 20% YoY, all
· EBITDA was Euro 5.3m (3.2), up 67%, EBITDA margin* increased to 31.3%
· All-time high revenues in Media Services of Euro 11.2m (8.6), an increase
30%, with an EBITDA of Euro 5.1m (4.0)
· Revenues* for Platform Services were Euro 5.7m (5.4), an increase of 6%
(32% ex.
terminated white-labels), with a positive EBITDA of Euro 0.6m (-0.1)
· Positive EBIT of Euro 1.8m (-1.6), an improvement of Euro 3.4m
· Positive cash flow from operations of Euro 7.9m (-0.2), an improvement of
Euro 8.1m

Operational Highlights

· Signed two long-term agreements for the provision of GiG's platform to
facilitate an operator's multi-brand strategy and expansion into several EU
· Signed a long-term agreement for the provision of GiG's platform that will
support a client's operations in certain designated markets
· One new brand was launched in Q3 and the development for three additional
brands are now complete, all expected to go live in Q4
· Media Services reached a third successive all-time high in quarterly revenue
and player intake was in line with previous quarter despite normal seasonality
effects in Q3
· Entered four new markets in Media and one in Platform

Events after Q3

· Signed a long-term agreement with an established German operator that will
migrate its existing brand to GiG's iGaming Platform
· October has developed positively, and revenues are up 23% compared to the
same period last year. Adjusted for terminated white-labels and Germany,
revenues are up 34%
· The strong development continues in Media Services with both all-time high
revenue and player intake in October

*Revenues are adjusted for revenues from a platform client where GiG recognizes
the full operations in its profit and loss statement, which are partly offset by
related cost of sales and site overheads. Cost of sales, marketing expenses and
EBITDA-margin are adjusted accordingly. See Note 2 in the Q3-2021 Interim Report
for more details.

Investor presentation and webcast
CEO Richard Brown will present the Q3 2021 results via livestream at 10:00 CET.
The presentation will be followed by a Q&A-session, and investors, analysts and
journalists are welcome to participate. The presentation will be given in
English. See link on our website

For further information, contact
Richard Brown, CEO of GiG, +34 661 599 025
Tore Formo, Group CFO, +47 916 68 678
Hessi Mocca, Head of IR,, +46 737039820

This information is information that Gaming Innovation Group Inc. (GiG) is
obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact
person set out above, at 08:00 CET on 9 November 2021.

About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing
solutions, products and services to iGaming Operators. Founded in 2012, Gaming
Innovation Group's vision is 'To be the industry leading platform and media
provider delivering world class solutions to our iGaming partners and their
customers.  GiG's mission is to drive sustainable growth and profitability of
our partners through product innovation, scalable technology and quality of
service. Gaming Innovation Group operates out of Malta and is dual-listed on the
Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under
the ticker symbol GIGSEK.

Legal disclaimer
Gaming Innovation Group Inc. gives forecasts. Certain statements in the report
are forward-looking and the actual outcomes may be materially different. In
addition to the factors discussed, other factors could have an impact on actual
outcomes. Such factors include developments for customers, competitors, the
impact of economic and market conditions, national and international legislation
and regulations, fiscal regulations, the effectiveness of copyright for computer
systems, technological developments, fluctuation in exchange rates, interest
rates and political risks.
Oslo Børs

This information was distributed by Oslo Børs