Operational update June 2016
Gaming Innovation Group (GIG) has focused on M&A activities the last months, which has proven successful. Oddsmodel and Delta Markets were both integrated in April and are performing above expectations, while Magenti Media were recently integrated and performs in line with expectations.
As a result of the acquisitions as well as organic growth, GIG's affiliate operations in Innovation Labs referred almost 4,000 first time depositors (FTDs) to own and affiliated operators in June.
After a slight decline in April and May, Guts.com had all time high gross gaming revenue (GGR) in June. Rizk.com also showed strong performance in June, while Betspin.com performed below expectations. Margins obtained were in line with average at 3.75% for casino and 7.30% for sports betting. Total deposits were above MEUR 9 in June. The positive performance in June is related to a shift in marketing mix and focus, resulting in an increase of depositing customers and deposits although a slight decline in active players.
Total active real money players for the three months period April-June were 81,645, compared to 83,288 for the period March-May. Of the total number of players, 72,962 only played casino, 3,342 only played sports and 1,460 only played poker. The remaining 3,881 were active in more than one category. Free bet players are excluded from the number of active players.
Total registered users on GIG's iGaming sites Guts.com, Betspin.com and Rizk.com were 445,125 as of 30 June 2016 compared to 420,856 as of 31 May 2016.
GIG's cloud based platform service iGaming Cloud has seen continued positive performance among its live operators. The Company is experiencing some delays in integration of clients, and three are postponed from June to July and one to August. The delay is due to capacity restraints in own organization as well as external delays with clients. iGC is addressing the hire of new qualified tech staff in order rectify the situation going forward.
Overall development for GIG progressed well in June, with both organic growth and growth through acquisitions. July will most likely have a negative seasonality effect in line with expectations which might affect performance. The Company remains positive on the outlook for GIG.
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]