Gaming Innovation Group Inc. (GiG) reports revenues of €32.4 million and an EBITDA of €4.1 million.
"The Company delivered an EBITDA of €4.1m in Q1 and the key highlight was all time high revenues and EBITDA in our media business. It is a performance I am reasonably satisfied with in light of the loss of a major B2B customer which we announced in Q4-18, and the new regulation in Sweden which is impacting both our B2C and B2B revenues. We had anticipated this and managed the impact by careful cost control.
The business is robust with cash flow from operating activities of €2.6m.GiG has become better and more competitive as the Company matures. Our leadership has never been stronger, our processes are more robust, and our strategic understanding and intent has evolved. I am looking forward with confidence to the growth opportunities for the rest of the year.", says Robin Reed, CEO of GiG.
Investor presentation and webcast:
CEO Robin Reed will present the Q1 results at 10:00 CET at Helio GT 30, Grev Turegatan 30, Stockholm. The presentation will be given in English and available live via webcast and via a telephone link. Questions can be asked via this weblink:
Dial-in numbers for participation in the telephone conference:
United Kingdom: +443333009265
United States: +18335268380
For further information, contact:
Robin Reed, CEO, +356 9999 0382
This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 08:00 CET on 6 May 2019.
About Gaming Innovation Group (GiG)
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is `To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. GiG operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
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