Gaming Innovation Group Publishes Strong Q3 Results
Malta based Gaming Innovation Group has published its Q3 results, showing a continued strong growth in both performance and revenues.
The company’s Q3 results brought €14.5 million in the third quarter, meaning that it saw an increase of 201% from the same period last year.
With this in mind, the report also noted that the group expects to exceed the guided 100% organic growth for full year revenues, and that revenues will exceed €120 million next year.
One of the factors contributing to the strong results throughout 2016 was the acquisition of Betit Holdings, which added a total of three brands to the company’s B2C gaming operations – Kaboo.com, SuperLenny, and Thrills – which expanded its presence in the lucrative Nordic market considerably.
This acquisition is relatively recent, having been announced in late June for a fee in the region of €54 million.
The Gaming Innovation Group report also detailed that its casino brands – Guts.com, Rizk.com, and Betspin – have continued to perform well, whilst other sectors of the business saw similar successes, including the growth of the affiliate business in Innovation Labs through an expanded customer base.
In addition, the company’s operators saw an increase in active users from 81,645 in the 2nd quarter to a total of 177,587 in the 3rd quarter. Of course, Betit was a significant part of this, though there would still have been an impressive increase of 95,401 without the acquisition.
Gaming Cloud (iGC) also signed two new clients during the quarter, bringing its total to 18. Another announcement included in the report was that the company will be “undergoing an organisational change”, following this period of strong growth.
Gaming Innovation Group will also be exhibiting at Malta’s biggest upcoming gaming event of the year this month. If you’re interested in joining SiGMA16 between the 16th and 19th of November, click here to register.
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