GiG records 2021 revenue of €66.8 million, up from €52.2 million in 2020

Gaming Innovation Group (GiG), has reported a revenue of €66.8 million in 2021, up 28 per cent on the €52.2 million achieved in 2020.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were almost twice as high as the year before, increasing by 93 per cent to hit €20.7 million. This came as the EBITDA margin increased to 31.1 per cent, up from 20.6 per cent the year before.

Earnings before interest and tax crossed into a positive figure, hitting €7 million, after the company recorded a loss of €8.7 million in 2020.

In a letter to shareholders accompanying the report, GiG CEO Richard Brown characterised 2021 as “an exciting and rewarding year,” pointing out that it was the company’s first to focus exclusively on its B2B offering.

“We have made real ground in positioning the business and have continued to focus on improving our client offering and operational structures to enable us to continue to pursue the success and growth opportunities,” Mr Brown explained.

Indeed, GiG had a promising year in of new agreements signed, penning contracts to bring nine new operators to its platform services in 2021.

Six new brands were launched on the platform in 2021 and two additional brands had their development complete by the end of the year, and launched in 2022.

Media services reached all-time high in player intake, first time deposits (FTDs) ended at 198,000 up 57 per cent, and the vertical grew in the US market throughout the year to be present in 19 US states by the end of the year.

GiG’s key focus areas for 2022, include new features for its compliance tool GiG Comply focusing on social media marketing, a continuous improvement in all areas of information security, an increase in market share, and the achieving of increased commercial revenue.