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Aug 28, 2024 2:40 AM

Gaming Innovation Group reports Q2 2024

ST. JULIAN'S, Malta, Aug. 28, 2024 /PRNewswire/ --

Highlights

Media reported all-time high revenues of €30.3m, up 39% YoY (18% organic growth)

EBITDA increased by 43% to €14.8m, with an EBITDA margin of 48.7% (47.4%)

EBIT reached €7.8m, with a margin of 25.8% (32.3%)

Cash and balance sheet bolstered by a €9m equity raise and a €15m bond tap

GiG Media rebranded to Gentoo Media

FTDs for Gentoo Media were 121,900 (109.400), up 11% YoY Q2-23

AskGamblers and KaFe Rocks thrives post acquisition showing strong growth

Strategic acquisition of Casinomeister, an online casino advocacy and review platform

Signed Head of Terms to acquire Titan Inc. Limited, a premier supplier of SEO and content services, significantly enhancing Gentoo Media's operational efficiency

Revenues for Platform & Sportsbook were €7.3m (9.3), a decrease of 21%, with an adjusted EBITDA of €-1.6m (3.7)

Platform & Sportsbook signed two new agreements, two additional Head of Terms and one contract extension in Q2 2024

Four additional brands went live in the quarter, two so far in Q3 2024, and the number of live brands is 72 as of today

Subject to the remaining regulatory and shareholder approvals, the split is expected to be executed ...

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