{"id":6077,"date":"2023-11-10T07:16:08","date_gmt":"2023-11-10T07:16:08","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/11\/10\/gaming-innovation-group-celebrates-record-q3-2023-earnings\/"},"modified":"2023-11-10T07:16:08","modified_gmt":"2023-11-10T07:16:08","slug":"gaming-innovation-group-celebrates-record-q3-2023-earnings","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/11\/10\/gaming-innovation-group-celebrates-record-q3-2023-earnings\/","title":{"rendered":"Gaming Innovation Group Celebrates Record Q3 2023 Earnings"},"content":{"rendered":"<div>\n<p>Gaming Innovation Group Inc. (GiG) has proudly announced its third-quarter earnings for 2023, delivering a record-breaking revenue of \u20ac31.8 million. This milestone reflects a significant year-over-year increase of 39%, driven by an impressive 23% organic growth. The company\u2019s dedication to its Media, Platform, and Sportsbook operations is bearing fruit, propelling them toward their goal of global leadership in the <a href=\"https:\/\/igaming.org\/casino\/what-is-igaming\/\">iGaming<\/a> industry.<\/p>\n<h2><strong>Financial and Operational Success<\/strong><\/h2>\n<p>The period under review was not just about revenue; GiG also recorded an exceptional adjusted EBITDA of \u20ac23.4 million. This is a substantial leap from the previous year\u2019s \u20ac8.5 million. Even after adjusting for a \u20ac9.8 million reversal of earn-out provision, EBITDA stood strong at \u20ac13.6 million. The firm achieved an adjusted EBITDA margin of 42.8%, up from 37.0% last year, underscoring efficient operations and strategic foresight.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>On the operational front, GiG Media reached unprecedented revenue levels of \u20ac22.5 million, marking a 49% increase. Platform &#038; Sportsbook also saw a healthy 20% revenue rise, entirely from organic sources. These financial achievements were complemented by key executive appointments, including <a href=\"https:\/\/igaming.org\/casino-news\/jonas-warrer-assumes-acting-ceo-role-at-gaming-innovation-group-gig-following-richard-browns-departure\/\">Jonas Warrer<\/a> as the acting group CEO and <a href=\"https:\/\/igaming.org\/casino-news\/gig-strengthens-leadership-with-richard-carter-as-platform-and-sportsbook-ceo\/\">Richard Carter<\/a> as the new Platform &#038; Sportsbook CEO.<\/p>\n<h2><strong>Strategic Growth and Expansion<\/strong><\/h2>\n<p>GiG\u2019s growth trajectory continued with the signing of two new Platform &#038; Sportsbook agreements and launching five additional brands, including expansions into Serbia and <a href=\"https:\/\/igaming.org\/casino-news\/gaming-innovation-group-gig-expands-its-footprint-in-portugal-with-goldenpark-launch\/\">Portugal<\/a>. Furthermore, GiG\u2019s U.S. footprint expanded with its platform and sportsbook going live in Maryland with <a href=\"https:\/\/igaming.org\/sports-news\/gig-signs-us-sportsbook-deal-with-crab-sports-for-maryland-market\/\">Crab Sport<\/a>.<\/p>\n<p>Subsequent to the close of the third quarter, GiG announced its <a href=\"https:\/\/igaming.org\/casino-news\/gaming-innovation-groups-bold-move-to-acquire-kafe-rocks\/\">acquisition of KaFe Rocks<\/a>, strengthening its position in the online casino lead generation market. They also announced the live launch of one additional brand, bringing the total to 63, and appointed industry veteran Andrew Cochrane as the new Chief Business Officer for Platform &#038; Sportsbook.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/gaming-innovation-group-celebrates-record-q3-2023-earnings\/\">Gaming Innovation Group Celebrates Record Q3 2023 Earnings<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gaming Innovation Group Inc. (GiG) has proudly announced its third-quarter earnings for 2023, delivering a record-breaking revenue of \u20ac31.8 million. This milestone reflects a significant year-over-year increase of 39%, driven by an impressive 23% organic growth. The company\u2019s dedication to its Media, Platform, and Sportsbook operations is bearing fruit, propelling them toward their goal of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-6077","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=6077"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6077\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=6077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=6077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=6077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}