Gaming Innovation Group (GiG) has published its financial results for the second quarter of 2024, revealing impressive performance in its media division. The division recorded a record revenue of €30.3 million, representing a 39% increase compared to the previous year. GiG's EBITDA also saw substantial growth, rising 43% to €14.8 million, and achieving an EBITDA margin of 48.7%. The division's robust cash position and balance sheet were bolstered by a €9 million increase from shareholders and a €15 million bond issuance.
GiG's recent acquisitions, AskGamblers and KaFe Rocks, have also demonstrated notable growth. In Q2, GiG Media underwent a rebranding, emerging as Gentoo Media, a change designed to better align with the company's objectives. During the same quarter, Gentoo Media recorded 121,900 first-time deposits (FTDs), marking an 11% year-on-year increase.
In terms of strategic expansion, GiG has entered into a merger and acquisition agreement with Casinomeister, an online casino advertising and review platform, which will enhance its partner portfolio. Furthermore, GiG is preparing to acquire Titan, a prominent SEO and content services provider, aimed at boosting Gentoo’s operational efficiency.
