Operational update November 2016
In November, Gaming Innovation Group Inc. (“GIG”) successfully migrated Betit’s three brands, SuperLenny.com, Thrills.com and Kaboo.com to GIG’s iGamingCloud platform, and all of GIG’s six brands now operates on the iGC platform. The rapid integration of Betit’s brands has proven the ability of the organization, and the flexibility of the iGC platform.
The Company continued to see positive development throughout its business verticals, and the B2B division saw all time high revenues and profits in November.
The Company signed a new long-term agreement with it’s largest supplier, Net Entertainment. The new agreement will see GIG benefit from improved rates and conditions on increased volumes, effective from 1 October 2016.
Gross gaming revenue (GGR) were slightly down in November for GIG’s six gaming sites. Both Rizk.com and Guts.com experienced all time high revenues, while the three Betit brands naturally suffered somewhat from the migration that saw Betit change both platform and payment gateway. Activity tend to be impacted both before and directly after this type of migration. Going forward the company expects Betit brands to greatly benefit from the opportunities offered by the iGC platform.
Total deposits were EUR 21.2 million, down 5.5% from October. Margins obtained were 3.54% for casino and 8.5% for sports betting.
Total active real money players for the three-month period September-November were 185,881, a 3.0% increase from 180,454 for the period August-October. Of the total number of players, 165,713 only played casino, 10,942 only played sports and 3,242 only played poker. The remaining 5,984 were active in more than one category. Free bet players are excluded from the number of active players. Total registered users were 1.42 million as of 30 November 2016, compared to 1.35 million as of 31 October 2016.
Cloud based Services
GIG’s cloud based platform service iGaming Cloud (iGC) signed one new client in November. In total iGC has 22 external clients signed, that in total will operate 29 brands. This includes GIG’s six brands. Overall performance was positive in November, and the eighteen external clients launched on the platform generated all time high revenues. Of the remaining external brands, one has delayed launch from November to December due to licencing issues. Two clients plan to go live in Q1 2017, while the newly signed client is targeting launch in Q2 2017.
GIG also signed an agreement with Yggdrasil Gaming for the provision of its game catalogue to GIG’s B2C and B2B brands.
Digital Marketing Services
GIG’s affiliate operations in Innovation Labs referred around 3,100 first time depositors (FTDs) to own and affiliated operators in November, compared to around 3,400 in October. Innovation Labs recorded all time high revenues in November.
GIG has strengthened its management to be prepared for the expected growth going forward. Beverley Fairclough joined GIG as Chief People Officer in November. Fairclough has an extensive background within HR from companies such as Pokerstars, Arqiva and Virgin Media, and initial focus for Fairclough will be on shaping and implementing the company’s people operations strategy. GIG has also appointed Tomas Bäckman, previously CEO in BetIt Group, to the position of CEO in GIG’s newly created B2C organization. Bäckman will spearhead this work going forward. Having B2C Gaming administered under one dedicated leader will lead to more focus and improve resource utilisation, co-operation and collaboration within the business area.
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