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GiG Revenue Up $19.7 M in Q3

Gaming Innovation Group has had a great third quarter in 2021, earning close to $19.7 million. The major part of this income came from the media services sector, which contributed around $12.99 million to GiG’s revenue. GiG platform services contributed the rest $6 million.

GiG’s operational cash flow has also seen a major YoY jump reaching around $9.16 million. GiG total revenue for the third quarter of 2021 is close to a 20% increase from its revenue at the same time last year. If the EBITDA earnings are considered, then the total earnings in 2021 will come to 5.3 million Euros. This will be around a 65.6% rise from last year.

Media service has jumped 30% from 2020, and platform services have also registered a 6% rise in 2021. GiG EBIT earning for quarter three 2021 is 1.8 million Euros. This is a major improvement on the EBIT loss of 1.6 million Euros last year.

The third quarter also saw GiG come up with two long term agreements. One was the decision to encourage multi-brand strategies of operators and the expansion of GiG operations into many new unexplored markets of the EU.

GiG is also expected to develop three completely new brands in the last quarter of 2021. They are also planning to enter four new media services markets and one new platform service market.

Another major event for GiG in its third quarter was signing a long-term deal with a German operator. GiG brand functions are now transferred to their iGaming platform operations. October was a major month for GiG, and they had the highest ever customer intake and the record levels of revenue earnings in that month. Revenues in October 2021 were 23% higher than in October 2020.

GiG CEO, Richard Brown, has also stated that he is very pleased with the present trajectory of GiG in their third quarter as the company is now moving towards more long term, sustainability-oriented goals. They will try to keep up this upward momentum of the third quarter as they expand into many new markets and sectors.

Times of Casino provides all the new and upcoming information about the iGaming world.

Another important casino to keep your eye on this last quarter of 2021 may be 21.com. This online casino has started operations in 2018 and has already gained popularity among players because of its advanced interface and features that experienced industry veterans create. Betpoint Group operates the services of 21.com, and they also have a license from the Malta Gaming Authority.

John Scott

John Scott joined the Times of Casino’s team as a news writer. He previously worked with foremost publications as an intern. He holds bachelor of journalism degree and more than three years of experience of writing. In his free time, he enjoys travelling different places.

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