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Gaming Innovation Group Q3 2015
Thursday, November 12, 2015 : STRONG QUARTERLY PERFORMANCE FROM GAMING INNOVATION GROUP
All time high quarterly revenues achieved.
Gaming operator Gaming Innovation Group (GIG) reported all time high quarterly revenues in its third quarter report this week.
The group said it had established a solid platform for expansion through the signing of seven iGamingCloud (iGC) agreements, strong cash flow from Innovation Labs and an increasing number of paying users.
For the three month period ending September 30, 2015 GIG reported all time high revenues of Euro 6 million, up 25 percent compared to its last quarter and 62 percent on last year’s third quarter.
Other key performance indicators included a gross profit margin up 4 percent compared to Q2/2015. Cash flow from operations continued to be invested in growth, leaving an EBITDA of EUR 0.0 million, compared to EUR 0.18 million in Q3 2014.
GIG expects its current portfolio of iGamingCloud agreements to generate an annual contribution of Euro 2.8 million.
“I am pleased to see continued growth in all business areas for the third quarter,” Robin Reed, group chief executive officer said.
“GIG has experienced strong industry interest for the iGamingCloud platform and contracts entered into confirms this view.
“Together with the company’s own brands, innovative solutions and market approach, GIG has established a solid platform and is set to continue its strong growth into 2016”.
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Gambling News :
Update on Anti Online Gambling bill S.3376 -
More detail is emerging on Senate bill S.3376 and its author, Senator Tom Cotton, indicating that Cotton has in the past (2015) signed as a sponsor for Sheldon Adelsons Restoration of Americas Wire Act and opposes the legalisation of online gambling in the United States.
Anti Gambling bill S. 3376 -
#s3376 Industry observers were taken by surprise late Friday when a little-known Republican Senator from Arkansas, Tom Cotton, filed the beginnings of a new bill in the US Senate Committee on the Judiciary in what appears to be a move to toughen the US legal stance on the Unlawful Internet Gaming Enforcement Act of 2006 and possibly the 1961 Wire Act.
2016 WPT Borgata Main Event Results -
@MrJesseJames888 Four years ago the poker world watched as Jesse Sylvia and Greg Merson fought it out in the heads up of the World Series of Poker main event, with Sylvia narrowly defeated but taking home a second placing pay check for $5,292,889.
G-Sports debuts with the game Road Redemption -
#esports Land, online and mobile gambling publisher Gamblit Gaming has debuted in the burgeoning eSports sector, unveiling its new eSports platform branded G-Sports with the hit PC and console game Road Redemption.
French licensed gambling operators lost $5M in 2015 -
#france Numbers released by the French online gambling regulator ARJEL have illustrated the continued folly of a ring-fenced and restricted online gambling market saddled with a harsh and operator-unfriendly tax regime.
NO PRIVATISATION FOR ONTARIO LOTTERY -
The privatisation of the Ontario provincial lottery will not go ahead despite proposals by major companies like IGT-GTech, Scientific Games and Rogers Communications submitted in response to the provincial government’s 2014 Request for Proposals.
Space Invaders wins Best Slot Product Award -
The growing emphasis on skill-based slot machines that are more appealing to the millennial demographic has seen Scientific Games awarded a Best Slot accolade for its Space Invaders game at the 2016 Gaming and Technology Awards.
NEW MARKETING CAMPAIGN FROM LADBROKES -
The Ladbrokes land and online gambling group has launched its latest marketing campaign, with the first television advertisements ready to screen this Saturday.
Gamesys acquires Snowcat Games -
London online gambling provider Gamesys has announced the acquisition of Estonian online gambling games developer Snowcat Games for an undisclosed consideration, noting that the deal will strengthen its development capabilities.
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