Gaming Innovation Group reports Q2 2024

28 Aug 2024 08:00 CEST

Highlights

· Media reported all-time high revenues of Euro 30.3m, up 39% YoY (18%
organic
growth)
· EBITDA increased by 43% to Euro 14.8m, with an EBITDA margin of 48.7%
(47.4%)
· EBIT reached Euro 7.8m, with a margin of 25.8% (32.3%)
· Cash and balance sheet bolstered by a Euro 9m equity raise and a Euro 15m
bond tap
· GiG Media rebranded to Gentoo Media
· FTDs for Gentoo Media were 121,900 (109.400), up 11% YoY Q2-23
· AskGamblers and KaFe Rocks thrives post acquisition showing strong growth
· Strategic acquisition of Casinomeister, an online casino advocacy and review
platform
· Signed Head of Terms to acquire Titan Inc. Limited, a premier supplier of
SEO and content services, significantly enhancing Gentoo Media's operational
efficiency
· Revenues for Platform & Sportsbook were Euro 7.3m (9.3), a decrease of 21%,
with
an adjusted EBITDA of Euro -1.6m (3.7)
· Platform & Sportsbook signed two new agreements, two additional Head of
Terms and one contract extension in Q2 2024
· Four additional brands went live in the quarter, two so far in Q3 2024, and
the number of live brands is 72 as of today
· Subject to the remaining regulatory and shareholder approvals, the split is
expected to be executed by the end of September, with the first day of trading
for Platform & Sportsbook anticipated on 1 October 2024

Investor presentation and webcast

Chairman of the Board, Mikael Riese Harstad, will host a presentation of the Q2
2024 results via livestream at 10:00 CET today with Jonas Warrer, CEO Media and
group CEO, and Richard Carter, CEO Platform & Sportsbook, attending. The
presentation will be followed by a Q&A-session, and investors, analysts and
journalists are welcome to participate. The presentation will be given in
English.

Link to the livestream:
https://www.redeye.se/events/1026774/live-q-gaming-innovation-group-9

For further information, contact:
Jonas Warrer, CEO of GiG, jonas.warrer@gig.com, +45 30788450
Richard Carter, CEO Platform & Sportsbook, Richard.carter@gig.com, +44 968753750
Tore Formo, Group CFO, tore@gig.com +47 91668678

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, through the agency of the contact
person set out above, at 08:00 CET on 28 August 2024.

About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing
solutions, products and services to iGaming Operators. Founded in 2012, Gaming
Innovation Group's vision is 'To be the industry leading platform, sportsbook
and media provider delivering world class solutions to our iGaming partners and
their customers. GiG's mission is to drive sustainable growth and profitability
of our partners through product innovation, scalable technology and quality of
service. Gaming Innovation Group 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

Legal disclaimer
Gaming Innovation Group Inc. gives forecasts. Certain statements in the report
are forward-looking and the actual outcomes may be materially different. In
addition to the factors discussed, other factors could have an impact on actual
outcomes. Such factors include developments for customers, competitors, the
impact of economic and market conditions, national and international legislation
and regulations, fiscal regulations, the effectiveness of copyright for computer
systems, technological developments, fluctuation in exchange rates, interest
rates and political risks.

More information:
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626407_GiG_Q2_2024_presentation.pdf
626407_GiG_Q2_2024.pdf