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Gaming Innovation Group (GIG) Reports Record Q1 Revenue, Marks 52% Growth

Gaming innovation group

Gaming Innovation Group (GIG) has unveiled its first-quarter financial results, revealing a remarkable start to the year with record-breaking revenue figures, marking the highest in the company’s history.

Record-breaking Performance

The group’s Q1 revenue, which includes platform and sportsbook revenue, soared to €36.2 million ($38.9 million), showcasing a 52% increase year-on-year. A significant contributor to this quarter’s success was GIG Media, which recorded €28 million in revenue, marking a remarkable 52% increase compared to the same period last year, with 21% of this growth being organic.

Strong Growth Trajectory

Overall, the group’s revenue surged by 28% compared to Q1 of 2023.

Sustained Financial Success

GIG’s adjusted overall EBITDA for Q1 2024 reached €13.5 million, buoyed by the signing of eight new Heads of Terms (HoTs) and agreements during the quarter.

Expansion and Strategic Partnerships

April proved to be a busy month for GIG as well, with the appointment of Mateusz Juroszek to its Board of Directors and the company’s entry into the Swiss market through a deal with the Grand Casino Basel. GIG has been exploring opportunities to strengthen its strategy in online casinos.

Continued Growth Trajectory

GIG’s recent financial success follows a positive growth trajectory. In February, the company reported a revenue of €35.6 million for Q4 2023, bringing its FY2023 revenue to €126 million, a remarkable 40.8% increase from 2022.

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