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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 with Casino Win in Hungary

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09/18/2020 | 09:51am EDT

Gaming Innovation Group Inc. (GiG) has today signed a long term contract with Casino Win, one of Hungary's leading land-based casino operators, for the provision of GiG's platform, frontend development and managed services to launch their digital operation in the regulated Hungarian market.

Casino Win has been present in the Hungarian gambling market since 2016, and has always prioritised their players to ensure that they receive the highest possible levels of service, coupled with the latest gambling equipment and technology to provide the best gaming experience there is. To complement their successful land-based operations, Casino Win is now taking their operation to the next level by entering the online space.

Online licenses in Hungary are only available to land-based operators who have physical locations within the country. At present there are only four operators in Hungary of which two are already online, with Casino Win becoming the third in H1 2021.Casino Win own three casinos in leading locations across Hungary and offer an extensive selection of slots games as well as roulette, blackjack and poker.

The agreement is based on a combination of fixed fees and revenue share structure. The casino offering is expected to go live in H1 2021, and this partnership is expected to make a positive contribution to GiG's revenues from the second half of 2021.The term of the contract is for an initial three year period. 

Mr. Zsolt Kruppa Managing Director of Casino Win says: "Gaming Innovation Group is known in the iGaming industry as a reliable and trustful company with a history of success working with land-based operators like ourselves. We are pleased to have them supporting our digital transformation and online player acquisition strategy as we expand into the regulated Hungarian online market. We believe that by joining our efforts we can transfer the feel and look of our casino's into an online offering that both caters for our current players as well as attracts new ones. We are looking forward to a long lasting and mutually beneficial partnership."

Richard Brown, Chief Executive Officer of GiG says, "We are very pleased to move into the regulated Hungarian market supporting Casino Wins expansion into online. They have a proven track record of success and have some of the market-leading land-based operations. We believe that this, in conjunction with GiG's tailored online offering will lead to further success for the companies, while providing Casino Win's customer base a seamless, high quality retail and digital experience." 

For further information, please contact:

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

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

This information is information that Gaming Innovation Group Inc.is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, at 15:50 CET on 18 September 2020.

 

About Gaming Innovation Group (GiG)

Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is `To be the industry leading platform and media provider delivering world class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. 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 Casino Win

Casino Win has been present in the Hungarian Gambling market since 2016 and owns three casinos in leading locations across Hungary offering an extensive selection of slots games as well as roulette, blackjack and poker. CasinoWin has always prioritised their players to ensure that they receive the highest possible levels of service, coupled with the latest gambling equipment and technology to provide the best gaming experience there is.

https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-signs-with-casino-win-in-hungary,c3197084

https://mb.cision.com/Main/15972/3197084/1308047.pdf

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


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Financials
Sales 2020 77,0 M 90,6 M 90,6 M
Net income 2020 -7,00 M -8,24 M -8,24 M
Net Debt 2020 32,5 M 38,3 M 38,3 M
P/E ratio 2020 -6,85x
Yield 2020 -
Capitalization 61,7 M 72,8 M 72,6 M
EV / Sales 2020 1,22x
EV / Sales 2021 1,34x
Nbr of Employees 487
Free-Float 46,0%
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Last Close Price 7,53 
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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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