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GiG Releases Positive Casino Report For Q3

Johnnie Rivera | 16 November 2020

GiG Releases Positive Casino Report For Q3Gaming Innovation Group (GiG) CEO Richard Brown has described the supplier’s Q3 revenue performance to be the result of a company completely focused on B2B and forever pushing forward. The casino and sportsbook supplier reported massive revenue growth in terms of both EBIDTA and sales for Q3 – with sales reported for the third quarter of the year 42% higher than the same period in 2019, and EBITDA a comparatively and super-impressive 850% higher than that of last year’s Q3.

Playing a leading role in the improvements, explained Brown, were the signing of an impressive six new long-term contracts in the U.S. GiG currently operates sportsbooks in two U.S. states, and WSN.com affiliate sites in nine more.

Focus On LatAm & Africa

GiG furthermore published certain projections for the coming period and year – placing a great deal of focus on new customer casino markets in Latin America and Africa. Both these regions have already started new processes aimed at establishing regulated casino markets, explained Brown, all of which holds a great deal of promise in terms of future growth and expectations.

GiG also commented on the likelihood of the exploring of more market opportunities in the U.S. itself. The company described the country to be a rapidly changing region and landscape – with GiG meanwhile perfectly positioned for instant expansion as new states join the regulated sports betting market.

The supplier has confirmed ongoing expansion of its World Sports Network (WSN.com) – with a licence for West Virginia recently added to the existing portfolio of U.S. licenses.  

Affected But Not Defeated

Though not completely immune to the crippling effects of the global health crisis, GiG has shown itself perfectly capable of withstanding several new challenges and changes at local as well as international levels.

In addition to the company’s sportsbooks, it’s online casino brands too, have emerged tenacious performers in the face of incredible difficulties. Though revenue has traditionally been driven largely by the sports betting landscape, Brown said Q3 witnessed a great deal of emphasis being placed on the supplier’s iGaming platforms.

Sports betting revenue has however witnessed a steady increase in Q3 – even despite the cancellation of most major sports events this year. Sports betting revenue emerged an impressive 150% higher than 2019’s third quarter performance. And it’s an improvement Brown said he expects to growing even more positive still looking forward to the future.