Embarking on the diversification of its offering has seen Gaming Innovation Group (GiG) land record-breaking financial results.
The group made progress with splitting its platform and media units into standalone businesses in 2024, as it published its Q4 and full-year 2023 results.
During the final quarter the firm recorded ‘all-time high’ revenues of €35.6m, up 37 per cent on the Q4 2022 results of €26m.
Continuing momentum in what was a successful run of growth for GiG, the group achieved FY2023 revenues of €126m, up 41 per cent on 2022 comparative results of €91m, with the firm’s adjusted EBITDA standing at €61m (FY2022: €34m).
An elevated commercial prospect was enhanced for GiG Media as its business was enhanced by the acquisition of Kafe Rocks, boosting the group’s online casino media and lead generation business for North and South American markets.
As cited by Chairman, Petter Nylander: “The finalisation of the KaFe Rocks acquisition in December 2023 aligns strongly with our ambition to maintain our position as the leading casino affiliate in the industry.
“We are confident in the quality of the acquired assets and see significant potential for growth, particularly in the North American and LatAm markets.”
Nylander concluded on a positive period for the group: “We remain committed to our strategic objectives, including the planned split of the company into two separate entities, GiG Media and Platform & Sportsbook. This strategic move will unlock new growth opportunities and maximise value for our shareholders.
“As we approach the split in 2024, we are confident in setting new long-term financial targets for both GiG Media and Platform & Sportsbook. With our strong performance, diversified earnings, and robust growth prospects, we are well-positioned for success in the years to come.”
