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.
