Zona de Azar Malta – Gaming Innovation Group Reports Q2 2024 Results

Malta.- August 29th 2024 www.zonadeazar.com Gaming Innovation Group (GiG) has reported record revenues of €30.3 million for the second quarter of 2024, representing a 39% year-on-year increase, with 18% organic growth.

EBITDA rose by 43%, reaching €14.8 million, with an EBITDA margin of 48.7% (up from 47.4% the previous year).

EBIT stood at €7.8 million, with a margin of 25.8% (compared to 32.3% last year).

The company also strengthened its cash position and balance sheet through a €9 million equity raise and an additional €15 million bond issuance.

Furthermore, GiG Media has been rebranded as Gentoo Media.

Gentoo Media reported an 11% increase in First-Time Deposits (FTDs), reaching 121,900 compared to 109,400 in Q2 2023.

The acquisitions of AskGamblers and KaFe Rocks have shown strong growth, and the strategic acquisition of Casinomeister, an online casino advocacy and review platform, enhances the company’s market position.

The company has also signed a preliminary agreement to acquire Titan Inc. Limited, a provider of SEO and content services, which will significantly improve Gentoo Media’s operational efficiency.

Revenues for Platform & Sportsbook were €7.3 million, a 21% decrease compared to the same period last year, with an adjusted EBITDA of €-1.6 million (down from €3.7 million).

During Q2 2024, this segment signed two new agreements, two additional Head of Terms, and one contract extension. Four new brands went live during the quarter, with two more in Q3 2024, bringing the total number of live brands to 72 as of today.

Subject to remaining regulatory and shareholder approvals, the split is expected to be executed by the end of September, with the first day of trading for Platform & Sportsbook anticipated on October 1, 2024.

Investor Presentation and Webcast

Chairman of the Board, Mikael Riese Harstad, presented the Q2 2024 results via livestream yesterday at 10:00 CET, along with Jonas Warrer, CEO Media and group CEO, and Richard Carter, CEO Platform & Sportsbook.

The presentation was followed by a Q&A session, where investors, analysts, and journalists were invited to participate. The presentation was conducted in English.

Link to the livestream here.

Edited by: @MaiaDigital www.zonadeazar.com