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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 | 10:52am 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.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange


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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
Average target price
Last Close Price 7,75 
Spread / Highest target -
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Spread / Lowest Target -
EPS Revisions
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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