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Gaming Innovation Group

Gaming Innovation Group

GIG: Gaming Innovation Group reports Q4 2022

08:00 / 15 February 2023 Gaming Innovation Group Press release

Gaming Innovation Group Inc. (GiG) reports Q4 2022 revenues* of  Euro 26.0
and an adjusted EBITDA of Euro 10.8 million.

"We have delivered a stellar quarter across the business with strong growth for
Group revenues and EBITDA of 44% & 71% respectively", says Richard Brown, CEO of

Financial Highlights

· The Group achieved all-time high revenues* in Q4 2022 amounting to Euro
(18.1), an increase of 44% YoY, whereof 35% organic
· Adjusted EBITDA was Euro 10.8m (6.3), up 71%, adjusted EBITDA margin*
to 41.4% (34.9)
· EBIT was Euro 4.0m (2.2), with an EBIT margin* of 15.5% (12.4%), an
increase of
80% YoY
· Revenues in GiG Media at all-time high of Euro 17.8m (12.8), an increase of
with an adjusted EBITDA of Euro 8.9 (5.9)
· Revenues* for Platform & Sportsbook were all-time high at Euro 8.2m (5.3),
increase of 54% whereof 35% organic (39% organic growth excluding premium fees),
with adjusted EBITDA of Euro 1.8m (0.4)
· Positive cash flow from operations of Euro 8.5m (4.9)

Operational Highlights

· GiG GiG Media reached another successive all-time high in quarterly revenue
and player intake, FTDs ended at 115,900 (60,600), up 91%
· GiG Media entered into a new commercial partnership with News Corp UK &
Ireland Limited for sports betting and casino content to their premium media
websites The Sun and talkSPORT
· Agreement signed to acquire the casino affiliate websites,, and several smaller domains
· Launched four brands, whereof two in Ontario, the newly regulated Canadian
· Platform & Sportsbook signed six new agreements in the quarter
· Number of live brands were 62 at quarter end
· Awarded the ISO 20000 certification for the platform after an extensive
review of internal service management system, framework and practices

Events after Q4

· Initiated strategic review for the purpose of separating the Company into
two independent publicly listed companies
· Acquisition of AskGamblers was completed end of January with several
initiatives to grow revenue and EBITDA for the asset being identified
· Commercial partnership with the Sun and talkSPORT delivers material results
just few months into operations
· Signed three new agreements for Platform & Sportsbook
· January has developed positively, and revenues are up 29% compared to the
same period last year, whereof 15% organic growth

*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. See Note 2 in the Q4-2022 Interim
Report for more details.

Investor presentation and webcast

CEO Richard Brown will present the Q4 2022 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

Link to the livestream:

For further information, contact:
Richard Brown, CEO of GiG, +34 661 599 025
Tore Formo, Group CFO, +47 91668678

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 15 February 2023.

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, sportsbook
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