Gaming Innovation Group (GiG) has continued its upward trajectory, achieving yet another record-breaking quarter in Q1 2023. The company’s media division emerged as the highlight of the results, with a substantial increase in revenue. While the media arm thrived, GiG’s platform division is poised for a transformative year.
GiG’s Media Division: Impressive Revenue Surge in Q1
– The media division recorded a remarkable 40% year-on-year increase in revenue, reaching €14.1 million for Q1 2023.
– Affiliated marketing campaigns yielded outstanding results, with player intake soaring to a record-breaking 69,800, and intake from paid campaigns increasing by 160% YoY.
– GiG’s focus on player value has resulted in higher revenue shares, contributing to the company’s strong financial performance.
Geographical Expansion: Success in Latin America and Eastern Europe
– GiG’s media division witnessed significant progress in Latin America and Central and Eastern Europe, bolstering its overall growth.
– Brazil, in particular, emerged as a standout market, demonstrating the value of brand-dominated keywords and specific payment preferences for higher-value customers.
– GiG’s networks are gaining market share in lower-growth regions such as Europe, indicating the division’s exceptional performance.
Cross-Division Collaboration: Sportnco Acquisition Influences Media Division
– The recent acquisition of Sportnco has not only impacted GiG’s platform arm but also provided valuable insights for the media division.
– Sportnco’s strong presence in the LatAm market has prompted GiG to accelerate its efforts in that region, fostering knowledge sharing and collaboration between divisions.
– GiG anticipates closing the integration process with Sportnco in Q3 2023, enabling the company to leverage synergies and tap into new opportunities.
GiG’s Platform Division: Navigating Challenges and Driving Long-Term Growth
– The platform division experienced a temporary decline in revenue due to client withdrawals in the Netherlands and Hard Rock migrating away from the platform.
– However, the rolling twelve-month revenue for software as a service (SaaS) and related services demonstrates growth, increasing from €11.9 million to €15.9 million over the last year.
– GiG remains focused on expanding its client base and entering new markets to drive long-term growth, with the Netherlands being a key market on its roadmap.
Expanding Market Reach: Strategic Positioning in Growth Markets
– GiG’s partnership with Full Game SA, a joint venture between Grupo Valisa and Grupo Chamavo, highlights the company’s strategic position in growth markets such as Angola.
– The company foresees Africa as a developing market with significant potential, following a similar trajectory as Latin America.
– GiG’s recent deal to power a tier-one UK casino operator online signifies its entry into an established market and the utilization of its proven omnichannel solution.
Gaming Innovation Group’s Q1 2023 results showcase the company’s exceptional performance, driven by the remarkable growth of its media division. With a focus on player value and strategic expansion into emerging markets, GiG continues to solidify its position as a leading player in the gaming industry. The company’s cross-division collaboration, recent acquisitions, and strategic partnerships position it for continued success in the evolving global gaming landscape.