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Gaming Innovation Group Q2-2016
NEW Q2-2016 RECORDS FOR GAMING INNOVATION GROUP
EBITDA and revenue both soar at online gambling group.
The Norwegian Gaming Innovation Group, which operates online gambling sites, has reported record Q2-2016 results with positive growth in both revenue and EBITDA.
Highlights of the report include:
* Operating revenue up year-on-year 23 percent at Euro 9.7 million;
* Gross margin up a percentage point at 85 percent;
* EBITDA positive at Euro 0.96 million, up Euro 1.93 million on the previous Q1 2016 loss of Euro 0.07 million;
* Marketing investment up at 43 percent of revenue (Q1-2016: 37 percent);
* First time depositors increased to 11,400, a quarter-on-quarter rise from 4,700 on the first quarter of 2016;
* The companys iGamingCloud product signed three new clients during the quarter, boosting total clientele to 13;
* Sports betting technology revamp on track for completion in Q1-2017;
* The group acquired developer and provider of online casino services Betit Group to expand B2C business.
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Opap in memorandum of understanding With Inspired -
Virtual sports provider Inspired has entered into a memorandum of understanding (MOU) with Greek betting and lottery operator OPAP for the supply of its full suite of virtual sports, for integration online and across OPAP's retail network.
DeltaCorp To Acquire ace2three -
Our readers will recall Delta Corp. acquired a 26 percent stake in Gaussian Networks, parent company of India’s largest online poker operator Adda52 earlier this month
More Australian POC Taxes -
In an interview with The Australian, Tabcorp chief executive offer David Attenborough warned “global rivals” of his belief that other Australian states are moving fast to follow South Australia’s lead in implementing a point of consumption tax.
William Hill Exits Russia -
"Starting from September 23 William Hill Casino Club will terminate its activities in the Russian territory for legislatory reasons. All active customer accounts will be suspended," the advisory reportedly detailed.
Pennsylvania Online Gambling Hearing Postponed till October -
HR 2150, which includes DFS and e-gaming elements, was passed as part of the critical state budget bill by the House in June this year, with lawmakers expecting the bill to contribute $100 million annually in licensing and fees to help balance the state budget.
Two Mega Fortune Dreams Jackpots Hit -
Both Swedish players, the first lucky punter hit a GBP 100,000 jackpot playing on his mobile phone, while the second, identified as Martin, staked just 18p before netting a GBP 60,000 jackpot on the popular series thinking he was playing in demo-mode.
ASA Looking at Ladbrokes and Netbet ads -
A TV ad for Cosmo Gaming’s NetBet online casino was determined by the UK Advertising Standards Authority (ASA) as glamorising online gambling following a single complaint.
Betconstruct In Deal With Realistic Games -
BetConstruct has agreed a deal in which it will integrate a range of Realistic Games online table and slot content including blackjack, roulette and slot titles Super Graphics Upside Down, The Fruit Factory and Fireworks.
XLMedia Half 1 2016 Earnings Report -
Online gambling marketing company XLMedia, which operates websites driving players to online casino operators, delivered robust interim results for the first half of 2016, attributing its success to investment in technology.
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