11/02-2019 08:00:00: (GIG) Gaming Innovation Group reports Q4 2018

Gaming Innovation Group Inc. (GiG) reports 39.9 million in revenues in Q4 2018
and an EBITDA of 5.0 million.

One-off items adversely impacted EBITDA by 1.8m in Q4 2018. Excluding one-off
costs, EBITDA was 6.9m in Q4 and 18.9m for the full year 2018.

In Q4, we matched our previous all-time-high in revenues and for the full year
2018, we grew revenues and EBITDA with nearly 30% over 2017. After investing
around 16m into tech and product development in 2018, we have now closed the
circle and are offering products and services across all major verticals in the
iGaming value chain. We have started our expansion into regulated markets with
big brand partners, and we have launched our online and retail sports betting
platform in the USA. I am really proud of what we have achieved and are looking
forward to 2019., says Robin Reed, CEO of GiG.

Financial highlights
Operating revenues for Q4 2018 were 39.9m (39.9) in line with Q4 2017 and a
7% Q-on-Q increase. Full year 2018 revenues were 151.4m (120.4), an increase of
26% over 2017
EBITDA in Q4 2018 was 5.0m (7.9), a decrease of 36% from Q4 2017. Full year
2018 EBITDA was 16.1m, an increase of 28% over 2017
EBITDA in Q4 2018, excluding one-off costs, was 6.9m and 18.9m for the full
year 2018
B2B revenues in Q4 2018 were 16.4m (18.0), a decrease of 9% from Q4 2017
Revenues for the Media vertical reached an all-time-high in Q4 2018 of 8.7m
(8.5)
B2C revenues in Q4 2018 reached an all-time-high of 25.8m (25.4), +2% from Q4
2017 with an EBITDA of 0.7m (-2.1), 1.7m adjusted for one-off costs
Restructuring in the B2C segment impacted EBIT in Q4 2018 with a non-cash
impairment of 13.7m
A further decrease in the number of employees in Q4 2018 resulted in an 8%
decrease in other operating expenses quarter-on-quarter (adjusted for one-offs)

Operational highlights
Omni-channel Sportsbook solution agreement with Hard Rock Intl., live in
January 2019
Two in-house developed games launched during Q4 2018
Two new brands were signed to platform services in Q4 2018 and one new brand
signed GiG Comply after the quarter
Awarded two licences in the newly regulated Swedish market and Spanish licence
pending
New Board of Directors elected and a reversed stock split of 10:1 effective
from 21 December 2018
Applied for listing at NASDAQ Stockholm (main list) - planned for March 2019


Investor presentation and webcast:
CEO Robin Reed will present the Q4 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 the
weblink.
Link to the webcast:
https://tv.streamfabriken.com/gig-q4-2018

Dial-in numbers for participation in the telephone conference:
Norway: +4723500236
Sweden: +46856642703
United Kingdom: +443333009032
United States: +16467224904

For further information, contact:
Robin Reed, CEO, +356 9999 0382
(Robin@gig.com)

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 11 February 2019.

About Gaming Innovation Group Inc. (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 our ecosystem of products and services, we are
connecting operators, suppliers and users, to create the best iGaming
experiences in the world. GiG operates out of Malta and is listed on the Oslo
Stock Exchange under the

Ekstern link: https://newsweb.oslobors.no/message/469146

Nyheten er levert av OBI.