Industry News
Gaming Innovation Group reports Q4 2019
The B2C divestiture reduces complexity and financial leverage, enabling complete focus on driving the inherent strategic opportunities in the core B2B platform and media, creating a foundation for sustainable earnings and growth.
“It is a great honor to write my first shareholder letter to you after my appointment as CEO in November 2019. The dynamics in the online gambling industry, both competitive and regulatory, have changed dramatically in the last two years and we as a company are forcefully adapting to that. We are coming out of a strategic review initiated in November last year, I am certain the actions taken will place the Company in a truly exciting position for growth while securing the sustainability of the Company’s financial position by significantly reducing its debt and leverage”, says Richard Brown, CEO of GiG.
Financial Highlights
- Revenues in Q4 2019 of €29.4m (39.9)
- EBITDA in Q4 2019 was €4.8m (5.0) with an EBITDA margin of 16.4% (12.6%)
- Revenues for the B2C segment in Q4 2019 were €19.0m (25.8), EBITDA was €4.1m (0.8) with an EBITDA margin of 22% (3%)
- Revenues for the B2B segment in Q4 2019 were €12.1m (16.4), EBITDA was €0.8m (4.3)
- Revenues in the B2B Media Services were €7.5m (8.7) in Q4 2019, EBITDA was €4.0m (4.9)
- Other operating expenses were €13.7m (15.4) a reduction by 12%, the number of employees decreased from 706 to 648 year-on-year
Operational Highlights
- Richard Brown appointed new CEO on 6 November 2019
- Introduction of fixed fee platform payment model
- GiG launches Hard Rock International’s online sportsbook in Iowa
- GiG signed with Mr Green in Latvia for platform services, casino and sportsbook
- Renewal of contract with B2B partner Armstrong Operations Ltd. incl two new brands, the signed on the platform with the new fixed fee payment model
Events after Q4
- Divestment of the B2C vertical to Betsson Group
- Introduction of GiG’s next generation data platform, to be sold to existing customers and separately to external customers
- Extension of contract with a current platform customer with the addition of two new brands on the fixed fee model
- Revenues in January were 8% higher than the average in Q4 2019
Outlook and guidance
- GiG will become one of few fully independent of B2C, B2B providers after divestment of the B2C segment which will give the Company dedicated focus on building the B2B business
- Strategic review continues for its proprietary sportsbook; GiG is actively discussing joint ventures or other constellations with potential partners to release the true asset value of the sportsbook and to secure external long term funding
- With the divestment of the B2C vertical, full year 2020 revenues are expected in the range of €70 – 75 million, with an EBITDA expected in the range of €14 – 17 million, including, for comparison, B2C as continued operations until completion of the transaction
Industry News
WVU Hosts Inaugural Responsible Gaming and Digital Entertainment Symposium

West Virginia University (WVU) made history on Monday by hosting its first-ever Responsible Gaming and Digital Entertainment Symposium.
The event, organized by WVU’s Esports Business and Entertainment Program, brought together distinguished speakers from industry and academia to discuss ethical and responsible growth within esports, sports gambling, and digital entertainment industries.
The symposium was sponsored by Playtech, Continent 8, Play’n Go, IC360, Defy the Odds, and Absolutebet, and featured discussions on key topics such as “Regulation and Research Combine to Create a Safer Environment,” “Consumerism in iGaming, Esports, and Traditional Sports,” and “Women and Underrepresented Populations in Esports, Sports, and Entertainment.”
Krisztina Kalla, Head of Regulatory Affairs and Compliance at Absolutebet, emphasized the importance of the event, stating: “This symposium was the first step of something truly impactful, and we’re excited to continue our partnership with WVU to create many more groundbreaking events. Together, we’re paving the way for a future that introduces students to responsible gambling practices and opens doors to the world of iGaming.”
Kelly Kehn, Founder of Defy the Odds, highlighted the necessity of collaboration between key stakeholders: “What an honor and privilege to join the staff and students at WVU’s inaugural Responsible Gaming and Digital Entertainment Symposium. If we are to create a sustainable industry that creates jobs in our communities and innovation for our customers, collaboration between legislators, educators, and businesses must occur. It was inspiring to participate as WVU leads the way on this front.”
Jeremie Kanter, Director of Regulatory Affairs at Continent 8 Technologies, and David Brace, Principal of Innovation and Technology at Continent 8 Technologies, echoed this sentiment: “It has been a privilege to participate in the inaugural Responsible Gaming and Digital Entertainment Symposium. This initiative marks the beginning of an innovative and impactful approach to leveraging data through a distinctive partnership model that includes the state lottery, industry, and academia, with the purpose of safeguarding and supporting the state’s gaming participants while fostering the growth of the broader entertainment sector.”
Jonathan Doubilet, a key industry participant, praised the event’s collaborative nature: “I was honored to participate in the Responsible Gaming and Digital Entertainment Symposium in West Virginia. The event provided a unique opportunity to bring together industry leaders, scholars, and students to discuss how industry stakeholders can work together to build a sustainable and responsible digital entertainment sector.”
West Virginia Delegate Shawn Fluharty (D-Ohio) was also in attendance to discuss the Responsible Gaming and Researching and Industry Development Act, which was passed during the 2024 legislative session. This legislation allows for the collection of anonymized gambling data to be used for research at WVU.
Fluharty expressed his hopes that this initiative will position West Virginia at the forefront of the expanding gaming industry, while providing research opportunities and career pathways for WVU students.
As WVU continues to expand its Esports Business and Entertainment Program, which began offering a Bachelor of Arts degree last year, the university aims to lead the way in responsible gaming research and digital entertainment innovation.
The post WVU Hosts Inaugural Responsible Gaming and Digital Entertainment Symposium appeared first on European Gaming Industry News.
Industry News
CT Interactive Appoints Dimitar Raychev as Technical Support Specialist for Online Services

CT Interactive has appointed Dimitar Raychev as Technical Support Specialist for Online Services.
Over the years, Dimitar has worked with various platforms such as AWS, Active Directory and SAP, allowing him to acquire deep knowledge and skills in managing infrastructures and automating processes. Thanks to his expertise, he has helped many organisations optimise their systems and maintain high levels of efficiency.
“We are thrilled to welcome Dimitar Raychev to the CT Interactive team, where he will take on the role of Technical Support Specialist for Online Services. Dimitar brings extensive experience in providing technical support to global clients, successfully diagnosing and resolving issues with software, hardware and network systems. His commitment to quality service and the technical skills he possesses make him a valuable asset. We look forward to leveraging his knowledge and continuing to provide our clients with impeccable service and support,” the company said.
The post CT Interactive Appoints Dimitar Raychev as Technical Support Specialist for Online Services appeared first on European Gaming Industry News.
Industry News
IGT Wins Seven Awards at the 2025 EKG Slot Awards Show

International Game Technology has won seven awards at the 2025 EKG Slot Awards Show. The EKG Slot Awards Show is a performance-based, annual programme produced by Eilers & Krejcik Gaming (EKG) that recognizes excellence in slot game development in the casino gaming industry. IGT won the most awards of any gaming industry supplier, taking home trophies for seven of the program’s 25 categories.
IGT won the following categories at the 2025 EKG Slot Awards Show:
• Top Performing NEW Premium Game: Tiger and Dragon Cash on Reels
• Most Innovative Land-Based Game: Tiger and Dragon Cash on Reels
• Top Performing 3rd Party IP Branded Game: Whitney Houston Slots
• Top Performing Game – EMEA: Magic Treasures Dragon
• Top Performing NEW Video Poker/Keno Game: Mega Hot Poker
• Top Performing NEW Online Table Game: Blackjack Poker & Pairs Surrender
• Best Overall Supplier of Online Content: IGT PlayDigital
“IGT winning seven awards at the 2025 EKG Slot Awards Show is a significant achievement that speaks to our performance momentum across multiple product categories and the immense talent and dedication of IGT employees worldwide. We look forward to continuing to help our customers benefit from these strong IGT themes in 2025 and beyond via follow-up games for Tiger and Dragon, Whitney Houston Slots, Magic Treasures and Mega Hot Poker,” said Nick Khin, IGT President, Global Gaming.
“It was exciting to see IGT PlayDigital honored at the 2025 EKG Slot Awards Show in the most esteemed iGaming category, ‘Best Overall Supplier of Online Content,’ and recognized with the ‘Top Performing NEW Online Table Game’ award for Blackjack Poker & Pairs Surrender. Developing and delivering market-leading content and performance tools is a cornerstone of IGT PlayDigital’s strategy and I wish to congratulate the entire team on these remarkable accomplishments,” said Gil Rotem, IGT PlayDigital President.
The post IGT Wins Seven Awards at the 2025 EKG Slot Awards Show appeared first on European Gaming Industry News.
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