"I am delighted to share with you the continued strong performance of our company during the fourth quarter of 2023. The positive momentum continued, with revenues soaring to E35.6 million, representing a solid 37% year-over-year increase and marks the twelfth consecutive quarter of record-breaking revenue, showcasing the resilience and strength of our business. Both GiG Media and Platform & Sportsbook are well positioned to provide shareholder value from 2024 as standalone businesses", says
Highlights
Gaming Innovation Group achieved all-time high revenues* in Q4 2023 of E35.6m (26.0), an increase of 37% YoY, whereof 20% organic- Adjusted for one-offs and split related costs, underlying EBITDA was E14.2 million, up 32%.
- Revenues in GiG Media at all-time high of E26.5m (17.8), an increase of 49% (24% organic)
- Revenues* for Platform & Sportsbook were E9.1m (8.2), an increase of 11%
- GiG Media has gone from strength to strength throughout 2023, with strong organic growth and successful integration of AskGamblers into the business.
- Platform business substantially strengthened in 2023, with a more experienced management team and a well-received new product offering in the market
- Both businesses are well positioned to provide shareholder value from 2024 as stand alone businesses
- Bond refinancing completed in the quarter creating stability for the Company going forward
- Making notable strides in the strategic review, anticipating the execution of the Platform and Media split by the end of Q2-24.
*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 3 in the Q4-2023 Interim Report for more details.
Investor presentation and webcast
Chairman of the Board,
Link to the livestream:
https://www.redeye.se/events/973059/live-q-gaming-innovation-group-7
For further information, contact:
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