iGB-Affiliate-Monitor_FEBRUARY 2022 - Page 17

GAMING INNOVATION GROUP THIRD QUARTER REVIEW
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GAMING INNOVATION GROUP THIRD QUARTER REVIEW
WHAT HAPPENS NEXT ?
The third quarter continued the established trend for GiG of its media services arm delivering the bulk of its revenues and pretty much all of its operating profit .
Revenues for the group hit € 17m in the third quarter with a more sizeable contribution from the platform services business of € 5.7m . Yet , this was still outweighed by the € 11.2m that came from the affiliate business .
But it is the bottom line where the relevancy of media services to the GiG business overall is stark . Of the group total EBITDA of € 5.3m , the large majority (€ 5.1m ) came from media services .
As can be seen , the media business continued to motor along , albeit with the third quarter once again producing slightly seasonally lower revenues and first-time depositors also dipping slightly from the second quarter .
Despite the seasonality , GiG was able to proclaim a record quarter for its publishing division , which
Chart 7 : GiG media services revenues Q419-Q321 (€ m )
€ m
12 11
11
11.2
10
10
9
9
8.6
8.6
8
8.2
7.5
7
6
5
4
3
2
1
0
Q419
Q120
Q220
Q320
Q420
Q121
Q221`
Q321
Chart 8 : GiG media services EBITDA Q419-Q321 (€ m )
€ m
6.0
5.5
5.3
5.0
5.1
4.8
4.5
4.5
4.6
4.3
4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0
4
4
Q419
Q120
Q220
Q320
Q420
Q121
Q221`
Q321
Source : Company reports
February 2022