Platform and media provider Gaming Innovation Group (GiG) experienced a ‘transformative 2020’, according to CEO Richard Brown, expanding its client base and recording substantial revenue growth.
Beginning the presentation, Brown gave an outline of GiG’s overall operations, highlighting its licensed status in 10 jurisdictions, including two US states, with over 460 employees and offices in Malta, Denmark and Spain.
Furthermore, Brown outlined GiG’s general objective to ‘drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service’.
Providing a breakdown of GiG’s 2020 trading year, the company signed an additional 14 clients onto its platform in 2020, enabling new launches into multiple regulated markets, whilst also expanding and diversifying its media business, having a positive impact on late 2020 and early 2021 trading results.
The group’s year-on-year revenues came in at €52 million, an increase of 19%, whilst EBITA rose by 212% to €10.7 million, with a normalised margin of 21%.
Acknowledging the impact of COVID-19, Brown maintained that GiG had ‘managed well’ with its response to the virus, implementing a ‘swift work at home response’ to achieve its two primary objectives of protecting its staff members and ensuring business continuity.
Additionally, Brown also recognised that the coronavirus pandemic had accelerated certain trends, notably causing a decline in retail and an significant increase in online activity.
Brown remarked: “2020 has been a truly transformative year for GiG. The company has become a fully focused B2B business, we divested the B2C unit to Betsson Group in April of last year, improving its operational and strategic focus, while deleveraging the business.
“We’ve positioned the company for future growth, we’ve ramped up the platform sales with full focus on regulated jurisdictions, and a retail gambling transition to online.”
Summarising the report, Brown identified three targets for 2021; growth, focusing on delivering an annual double digit organic revenue increase; profitability, with the aim of achieving an EBITDA margin in excess of 40% by 2025; and lastly leverage, meaning the utilisation of cash to lower leverage ratios and while pursuing growth in the iGaming market.
The CEO concluded that GiG delivered ‘significant year on year growth’ with regards to both revenue and EBITDA, expanded its client base and maintained a strong sales pipeline, whilst solidifying its market status in the US and securing a sustainable position to continue on-boarding new customers.
Source – Finwire.tv YouTube Channel