View of the Gaming Innovation Group building. Source: Gaming Innovation Group Official Website

GiG reports record high revenue for Q2

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.

31 August 2024, 14:47

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