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
11 experienced people managers from the SKS365 group’s 4 locations gathered last week in Belgrade for the new GROW People Management Program. From 15 th to 19 th of April, through trainings, discussions, and social connections, people had the opportunity to further grow individually and as a team, while enjoying Belgrade’s city center and rivers.
Created in 2023 with the purpose of building foundation people management skills across the organization, GROW initiative evolved this year by including a new, advanced program for experienced people managers to further consolidate their skills and prepare for future opportunities.
Building and fostering connections, sharing experiences, and enjoying team building experiences – all these activities have been part of the GROWpmp agenda for the 11 people managers coming from Commercial, Product and Development, Finance, and Sportsbook departments of the group’s 4 locations – Malta, Italy, Austria, Serbia.
GROWpmp included a variety of topics that people managers in SKS365 recognized as the key areas for management development. Topics such as influence through communication, team effectiveness, DEI, through to presentation skills and business topics like understanding finance and management reporting, were delivered with the support of external professionals and internal experts, while designed and organized by the SKS365 People & Culture team.
The post SKS365 keeps investing in people: GROW People Management Program took the next level appeared first on European Gaming Industry News.
Bragg is going to attend the SBC Summit North America taking place at the Meadowlands exposition center, New Jersey in May.
“See you in the Garden State to discuss how Bragg’s full-service suite of market leading iGaming content and technology solutions can be tailored to suit the demands of the U.S. market. Connect with members of the team to learn ways Bragg can accelerate your business with our technology, content and managed services solutions. Discover more about our award-winning Player Account Management (PAM), which is leading the way across the European market and in multiple regulated markets. Learn how our cutting-edge content aggregation RGS which already integrates a host of casino, sportsbook and lottery operators and is supported by our leading gamification product Fuze,” the Company said.
Participate in an insightful discussion
Join Bragg Group Director of Content Doug Fallon and fellow panelists at SBC Summit North America to discuss how game design can be leveraged to deliver profitable products in the iGaming industry.
Don’t miss this great panel discussion “Game Design 101: Launching a Profitable Product” taking place on iGaming Stage 3 at 16:00 on Wednesday, May 8.
DraftKings announced the appointment of Lori Kalani as Chief Responsible Gaming Officer reporting to DraftKings’ chief executive officer, Jason Robins. Kalani becomes DraftKings’ first Chief Responsible Gaming Officer committed to the continued elevation and integration of the company’s player safety and protection activities and initiatives across all facets of its platforms and player communities.
“Responsible gaming is one of our top priorities and it is a core part of our mission to build games that our customers can enjoy responsibly. In this leadership role, Lori will further advance our responsible gaming initiatives and uphold our commitment to setting new industry standards,” Jason Robins, CEO and Co-Founder of DraftKings, said.
Leveraging a systems-based approach, DraftKings’ responsible gaming initiatives utilize, among other things, technology, employee training, evidence-based research, collaboration with third parties and advocacy groups, and comprehensive player education to promote responsible play across all platforms and all player communities, and to provide players with tools to help them manage their play responsibly.
“I have long admired DraftKings’ impact as an entertainment and engagement platform that brings a community of gaming enthusiasts together. Joining DraftKings represents an exciting opportunity for me to bolster the efforts of the company and look for opportunities to reinforce our responsible gaming initiatives. I am eager to partner with colleagues, regulators, industry leaders, and community advocates to further demonstrate DraftKings’ commitment to responsible gaming and promote a healthy gaming environment for all customers,” said Lori Kalani.
Kalani’s extensive experience in consumer protection law and proven accomplishments in developing working relationships with regulators, attorneys general and other key stakeholders will enable her to effectively work alongside DraftKings’ Compliance team to further cultivate DraftKings’ dedication to best-in-class consumer safety and protection practices.
Kalani previously was a partner at the Cozen O’Connor law firm and Co-Chaired the State Attorneys General practice. Her extensive background spans diverse industries including gaming, social media, telecommunications, hospitality and healthcare. Kalani’s nuanced understanding of regulatory environments and her expertise in representing clients in industry-shaping challenges that intersected law, politics, and policy make her the ideal leader to advance DraftKings’ responsible gaming initiatives.
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