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Gaming Innovation Group Q2/2015 results
GIG MOVING IN THE RIGHT DIRECTION
Q2/2015 results show positive trend.
Gaming Innovation Group, (GIG), parent company of Guts.com, delivered an upbeat quarterly report saying it has succeeded in establishing a solid platform from which to grow.
Key performance indicators for the period include:
- Net income of Euro 800 000 (Q2/2014: Euro -100 000).
- Profit before tax amounted to Euro 900 000 (Q2/2014: Euro -200 000).
- Operating profit was Euro 0.0 (Q2/2014: Euro -200 000).
- Operating revenues of Euro 4.8 million (Q2/2014: Euro 2.6 million), up 88 percent.
- EBITDA Euro 72 500 (Q2/2014: Euro199 000).
“The second quarter has been eventful and GIG has made considerable progress in all business areas,” Robin Reed, chief executive officer of GIG said.
“I am very pleased that we can present a positive result in a period characterized by major changes and strong growth.”
Based on trading since, GIG said it has a favourable outlook on its performance for the rest of 2015.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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