igamingbusiness . com
What ’ s your view ? Tweet @ iGamingBusiness
17
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