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OFFON

GAMING INNOVATION GROUP INC.

(GIG)
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Gaming Innovation : signs platform agreement with Mill of Magic Ltd

07/31/2020 | 01:31am EDT

Gaming Innovation Group Inc. (GiG) has today signed a long-term agreement with a subsidiary of Casumo, Mill of Magic Ltd, for the provision of GiG's platform, data platform and GiG Logic. Mill of Magic will use GiG's products to power its new Pay N Play casino offering under its own license from the Maltese Gaming Authority. The agreement is based on a fixed fee model with a minimum contract term of two years.

The casino offering is expected to go live by Q4 of 2020 and the partnership is expected to make a positive contribution to GiG's revenues from 2021 onwards.

"We are thrilled to be expanding our partnership with GiG for the launch of our new Pay N Play casino, which will further diversify our group's offering and enable a new channel for growth. Together we're looking forward to bringing another distinctive brand and strong product to market later this year," says Casumo CEO, Shelly Suter-Hadad.

Richard Brown, Chief Executive Officer of GiG says, "We are very pleased to continue our partnership with the Casumo group by signing them onto our platform for a new brand launch. We have worked with their sister brand, Dunder for several years, they have always prided themselves on first-class quality of product, services and marketing. We are sure they will deliver success in the Pay n Play market as well and we are pleased to be part of the project."

For further information, please contact:

Richard Brown, CEO, richard.brown@gig.com, +34 661599025

Tore Formo, Group CFO, tore@gig.com, +47 91668678

About Gaming Innovation Group (GiG) Gaming Innovation Group is a technology company providing solutions, products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is `To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, GiG is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com.

About CasumoFounded in 2012, Casumo is an award-winning online casino and sportsbook headquartered in Malta. Through innovation and excellence in technology and design, Casumo continues to disrupt the gambling industry. www.casumo.com

https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-signs-platform-agreement-with-mill-of-magic-ltd,c3161675

https://mb.cision.com/Main/15972/3161675/1285780.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 77,8 M 92,3 M 92,3 M
Net income 2021 2,00 M 2,37 M 2,37 M
Net Debt 2021 21,0 M 24,9 M 24,9 M
P/E ratio 2021 59,3x
Yield 2021 -
Capitalization 172 M 203 M 204 M
EV / Sales 2021 2,48x
EV / Sales 2022 2,12x
Nbr of Employees 430
Free-Float 63,0%
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Mean consensus -
Number of Analysts 1
Average target price
Last Close Price 18,30 
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Managers and Directors
NameTitle
Richard Brown Chief Executive Officer
Tore Formo Group Chief Financial Officer
Justin Psaila Chief Financial Officer
Johan Petter Erik Nylander Chairman
Chris Armes Chief Information Officer
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