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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Gaming Innovation Group Inc.    GIG

GAMING INNOVATION GROUP INC.

(GIG)
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Gaming Innovation : signs platform agreement with GS Technologies Limited

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06/09/2020 | 05:46am EDT

Gaming Innovation Group Inc. (GiG) has today signed a long-term agreement with GS Technologies Limited for the provision of GiG's platform and front-end development to a new casino brand with its own license from Maltese Gaming Authority. The agreement is based on the new fixed fee model and has a duration of minimum three years with automatic extension for an additional two plus one years.
GS Technologies Limited operates the Alpha Affiliate Program and casino brands. Alpha Affiliate is a successful player in the iGaming industry for many years, having built several strong casino brands targeting multiple geographical regions.
 
The casino offering is expected to launch by the end of 2020, and this partnership is expected to make a positive contribution to GiG's revenues from 2021 onwards.
 
Nick Prokofev, Chief Executive Officer of Alpha Affiliates says: "Gaming Innovation Group is known in the iGaming industry as a reliable and trustful company. We are pleased to start one more successful project with such partner and believe that joining our efforts we can create many new successful and interesting brands. We are looking forward for long lasting and mutually beneficial partnership."
 
Richard Brown, Chief Executive Officer of GiG says, "Alpha Affiliates has been a successful operator in the iGaming business over many years, and I am delighted that they have chosen our platform and front end technology for their new Malta based casino brand. We are looking forward to a long term relationship with our new partner."

 

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.

https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-signs-platform-agreement-with-gs-technologies-limited,c3130608

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


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Financials
Sales 2020 80,0 M 93,1 M 93,1 M
Net income 2020 -5,00 M -5,82 M -5,82 M
Net Debt 2020 27,0 M 31,4 M 31,4 M
P/E ratio 2020 -6,98x
Yield 2020 -
Capitalization 62,8 M 73,3 M 73,1 M
EV / Sales 2020 1,12x
EV / Sales 2021 1,15x
Nbr of Employees 487
Free-Float 46,0%
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Mean consensus -
Number of Analysts 1
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Last Close Price 7,75 
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Managers
NameTitle
Richard Brown Chief Executive Officer
Johan Petter Erik Nylander Chairman
Tore Formo Group Chief Financial Officer
Justin Psaila Chief Financial Officer
Helge Nielsen Independent Director
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