Posts

Gaming Innovation Group Publishes Strong Q3 Results

Malta based Gaming Innovation Group has published its Q3 results, showing a continued strong growth in both performance and revenues.

The company’s Q3 results brought €14.5 million in the third quarter, meaning that it saw an increase of 201% from the same period last year.

With this in mind, the report also noted that the group expects to exceed the guided 100% organic growth for full year revenues, and that revenues will exceed €120 million next year.

One of the factors contributing to the strong results throughout 2016 was the acquisition of Betit Holdings, which added a total of three brands to the company’s B2C gaming operations – Kaboo.com, SuperLenny, and Thrills – which expanded its presence in the lucrative Nordic market considerably.

This acquisition is relatively recent, having been announced in late June for a fee in the region of €54 million.

The Gaming Innovation Group report also detailed that its casino brands – Guts.com, Rizk.com, and Betspin – have continued to perform well, whilst other sectors of the business saw similar successes, including the growth of the affiliate business in Innovation Labs through an expanded customer base.

In addition, the company’s operators saw an increase in active users from 81,645 in the 2nd quarter to a total of 177,587 in the 3rd quarter. Of course, Betit was a significant part of this, though there would still have been an impressive increase of 95,401 without the acquisition.

Gaming Cloud (iGC) also signed two new clients during the quarter, bringing its total to 18. Another announcement included in the report was that the company will be “undergoing an organisational change”, following this period of strong growth.

Gaming Innovation Group will also be exhibiting at Malta’s biggest upcoming gaming event of the year this month. If you’re interested in joining SiGMA16 between the 16th and 19th of November, click here to register.

Follow us on Facebook and Twitter for more updates.

Gaming Innovation Group Acquires Betit Holdings

Gaming Innovation Group (GIG), Malta-based gaming operator and service provider, has signed an agreement to acquire all shares in iGaming operator Betit Holdings Ltd., which owns some of the biggest operators in the Scandinavian iGaming market including SuperLenny.com, Kaboo.com and Thrills.com.

The deal is worth approximately €54million. GIG will issue 153.5million new shares as a consideration for all of Betit’s shares, and has agreed, along with Optimizer Invest; a major shareholder in Betit, to convert Optimizer’s 10% holding in GIG’s subsidiary iGaming Cloud Ltd. Into 56.5million new GIG shares.

Under the agreement, GIG and Betit will operate 6 brands, and the acquisition will create attractive commercial, technological and operational synergies, as well as cost savings and accelerated growth. The combined companies aim to become a leader in the market through use of innovative and proprietary products, digital marketing, and setting the benchmark for user experience.

Robin Reed, CEO of GIG, said: “Through this agreement, we team up with some of the most accomplished entrepreneur’s in the industry, significantly enhancing our reach to end-users, marketing partners and professionals. Our vision is to make the industry an open and connected eco-system and we will all benefit from the commercial and operational synergies. The acquired technology will accelerate our ability to grow and strengthen our base for further M&A activity.”

Betit’s proprietary front-end platform enables synergies between the brands, and provides strong marketing capabilities like innovative gamification and CRM features, as well as providing a best-in-class mobile product for all brands. This will also enhance the offering of Gaming Innovation Group’s gaming brands, and is highly complementary to GIG’s current offering.

Tomas Backman, CEO of Betit, commented: “Today is a very proud day for the Betit team. In less than three years, we have managed to build a successful multi- brand company and have now secured a great deal and a bright future for our shareholders. To be honest we would probably not have done a deal at this stage with anyone else other than Gaming Innovation Group. They share our view on culture, the importance of product focus and that it is the people who make the company succeed. Together with GIG we will now become a major player in Scandinavia. With the strategy that is set and with the people we have, we’re very proud to become a part of GIG.”

There are currently 608,556,266 outstanding shares in GIG, and the number of authorized shares is 750,000,000. Following the transactions, the amount of outstanding shares will be 818,556,266, of which Optimizer Invest will hold around 130million GIG shares.

Henrik Persson, partner in Optimizer Invest, said: “Optimizer is extremely excited about this partnership with GIG, and we see a great opportunity to create a leading iGaming company. As a significant shareholder in GIG, we will take an active role to make sure the company will release its full potential in the years to come. This is a journey in its early innings, and we see this as a long-term commitment within the iGaming sphere. We believe that by us joining forces, we have a very strong constellation to further accelerate growth as we seek to revolutionize the iGaming industry.”

Robin Reed

Startup romantic, and entrepreneur at heart.  Robin started with two empty hands in his early twenties. Founded Gaming Innovation Group (GIG) together with Frode Fagerli in 2008. These days, GIG is investing into startups and people within the iGaming industry. The mission is to create and obtain the most valuable knowledge in iGaming.

Currently holding office as the Managing Director in GIG and subsidiaries. They include affiliate marketing company Innovation Labs, and the operator Guts Gaming.

In January Guts.com won the IGB Award: Best new affiliate program, after reaching MEUR1 in monthly revenues, within 6 months of launch, with no marketing budget. That might be some sort of record.

The affiliate business has been a consistent member of the prestigious EGR Power 50 Affiliate list over the last 5 years.

Robin Reed is at SIGMA to speak about his journey from being a player, to managing a company grossing eight digits annually, and the challenges of venturing from affiliation to the operator side of the business.

Gaming Innovation Group signs iGC agreement with BetIt Group

SiGMA16 exhibitors Gaming Innovation Group Inc. has signed a partnership agreement with BetIt Operations Ltd. According to the contract, BetIt will migrate all of their casino and sports offering to GIG’s iGaming Cloud platform service (iGC).

BetIt is expecting to migrate their brands to iGaming Cloud in October 2016. The overall annual contribution to the iGC platform is expected to exceed EUR 1 million.

Register for your Early Bird tickets now and meet Gaming Innovation Group and iGaming Cloud at their stand during SiGMA16 in November.

 Source: Reuters.com

GIG to acquire affiliate assets from Magenti Media

Gaming Innovation Group (GIG) has agreed a deal to acquire the affiliate assets from Sweden-based affiliate network company Magenti Media.

The acquisition, said to be worth SEK47.5 million (€5.1 million/$5.8 million), will see GIG acquire a number of referral sites, a team of SEO experts and recurring revenues from Magenti’s existing portfolio of affiliate accounts with partnering operators.

The acquired assets are set to compliment GIG’s existing affiliate operations, boosting the company’s profit by approximately €1 million a year.

The affiliate network, which mainly targets the Swedish casino market, is also set to generate more than 45,000 new depositing customers to B2B clients and GIG’s own operators on a yearly basis.

Once due diligence is complete, the deal is expected to be concluded by May of this year.

Commenting on the acquisition, Robin Reed, chief executive of GIG, said: “We are happy to conclude the acquisition of a growing, high value affiliate network which will enhance Innovation Labs’ position in referring paying users in the Swedish casino market.

“In addition to the acquired assets, it is agreed to merge the talents of the companies, bringing in over 10 years of iGaming online marketing experience from Magenti Media.

“As we are building out our distribution channel for the top performing brands in the industry, we need the best people available to deliver even more quality online resources for end-users.”

Gaming Innovation Group to issue new share placement

Sigma2015-447

GIG’s brand Guts.com stand at SiGMA15
To view the entire album click here

Listed on Oslo Stock Exchange Gaming Innovation Group has announced its plans to issue 23 million new shares with target price amounting to NOK 1.95 (EUR 0.20) per share.

Gaming Innovation Group targets to raise an estimated amount of NOK 45 million (EUR 4.8 million) by the intented share placement which will be carried out by Swedbank Robur Fonder, well-known Scandinavian asset management firm.

The 23 million new shares total value based on the Gaming Innovation Group average trading volume as for 4th January 2016, accounts for 4.38% of the company’s equity.

The share placement will allow Gaming Innovation Group to  “strengthen gigs financial position and enable the company to step up efforts to monitor strategic growth opportunities”, the operator noted.

GIG's CEO Robin Reed

GIG’s CEO Robin Reed

Robin Reed, Gaming Innovation Group CEO and SiGMA15 guest, said: “A strengthened balance sheet will allow us to pursue these opportunities as they arise. As part of the transaction, we have received a substantial and long-term shareholder” 

“GIG is pleased to announce that Swedbank Robur invests in the company, and that such a reputable investor has taken the initiative to us, something we see as a confirmation of the positive trend in Gaming Innovation Group.  Last year did not pursue GIG attractive acquisition opportunities due to the need for channeling focus and revenue to our strong growth”, he added.

To read an interview with Robin Reed, download the latest issue of SiGMAgazine.