Operational update December 2016
Gaming Innovation Group Inc. ("GIG") had a solid month in December. The Group continued to see positive development throughout its business verticals with all time high revenues.
Gross gaming revenue (GGR) increased significantly in December for GIG's six gaming sites. The three Betit brands migrated to the iGaming Cloud (iGC) platform and changed payment gateway late November. The migration was carried out in line with plan but activity was somewhat negatively impacted by the migration. During December, the Betit brands increased momentum and GIG expects the brands to benefit from the opportunities offered by the iGC platform going forward.
Total deposits were EUR 23.3 million, a 10.2% increase compared to the previous month, November 2016. Margins obtained were 3.87% for casino and 5.9% for sports betting.
Total active real money players for the three-month period October-December were 183,521, a 1.3% decrease from 185,881 for the period September-November. GIG's old brands saw a 2.7% increase while Betit decreased due to the migration. Of the total number of players, 170,327 only played casino, 5,363 only played sports and 2,537 only played poker. The remaining 5,294 were active in more than one category. Free bet players are excluded from the number of active players. Total registered users were 1.48 million as of 31 December 2016, compared to 1.42 million as of 30 November 2016.
Cloud based Services
As announced on 19 December 2016, GIG's cloud based platform service iGaming Cloud (iGC) signed two new clients in December. In total iGC has 24 external clients signed, that will in total operate 31 brands. This includes GIG's six brands. One additional brand went live on iGC in December, and nineteen external clients were live on the platform year end 2016, compared to one client at the start of 2016. Of the remaining clients, three plan to go live in Q1 2017 and three in Q2 2017.
Digital Marketing Services
GIG's affiliate operations in Innovation Labs referred around 3,700 first time depositors (FTDs) to own and affiliated operators in December, compared to around 3,100 in November.
LaunchTuesday, March 14, 2017Larry Laffer is launching a new online casino – powered by Gaming Innovation Group’s (GIG) platform service provider iGaming Cloud and quite unlike anything that has ever been there before. "LarryCasino.com features a selection of the best slot machines, casino games and live casino play – all based around a new Leisure Suit Larry adventure..."[Continue Reading]
AcquisitionFriday, March 10, 2017Gaming Innovation Group Inc. (GIG) and its subsidiary Innovation Labs have agreed to acquire the highly regarded affiliate website Casinotopsonline.com for a consideration of EUR 11.5 million. This is Innovation Labs’ largest acquisition to date and will significantly strengthen its position as a leading affiliate in Europe. Read on for more details and comments from GIG and Casinotopsonline CEOs.[Continue Reading]