GiG Reports Revenue Fall for Q1 2019
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Gaming Innovation Group, the Malta based company that offers business-to-consumer casino, sports betting, and poker services through its online gaming websites, has recorded a revenue fall for Q1 2019 with €32.4m. The company delivered EBITDA of €4.1m in the same period (€4.3m), with a key highlight being all-time high revenues and EBITDA in GiG’s 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,” GiG CEO Robin Reed said.
Source: Latest News on European Gaming Media Network
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