Gaming Innovation Group (GiG), a prominent player in the gambling technology sector, has unveiled its first-quarter results, showcasing record-breaking revenues and signaling its readiness to undergo a strategic separation of its business divisions.
GiG reported impressive financial performance for the quarter, with its GiG Media division leading the way by generating record revenues of €28 million. This figure represents a remarkable 52% year-on-year increase compared to the same period in 2023 when revenues stood at €18.4 million. Additionally, the division reported robust EBITDA of €13.5 million, underscoring its strong operational performance.
In light of its continued growth and to further optimize its business operations, GiG has announced plans for a strategic separation into two distinct entities: GiG Media and GiG Platform & Sportsbook. This move, which was previously announced, is aimed at streamlining operations and enhancing focus within each division. The separation process is expected to be finalized by the third quarter of the year.
The decision to split the business reflects GiG's commitment to maximizing value for its stakeholders and capitalizing on growth opportunities in the rapidly evolving gambling technology landscape. With a clear strategic direction and a track record of success, GiG is poised to continue its upward trajectory as it navigates the dynamic dynamics of the global gaming industry.
