GiG Shares Q4 2023 Report, Shows Massive YoY Revenue Increase 

Gaming Innovation Group Inc (GiG) has shared the report for the final quarter of 2023. Results show that its revenue reached €35.6 million, which is a 37% YoY increase. The company reported that 20% of it was organic growth and that the revenue is at an all-time high. 

The Business is In a Good Position to Provide Value for Shareholders

The chairman of GiG, Petter Nylander, shared some words on the report. He stated that he was delighted to report that GiG had “continued strong performance” during the final quarter of 2023. He added that the massive 37% YoY revenue increase and the positive momentum show the resilience of the business. 

Nylander ended by saying that the results put both GiG Media and Platform & Sportsbook verticals in a good position to provide shareholders with better value in 2024. 

Further details in the report state that GiG Media also had an all-time revenue high as it reached €26.5 million. That’s a 49% increase compared to Q4 in 2022, when the revenue was €17.8 million. Twenty-four per cent of the increase was organic. 

Platform & Sportsbook had a €9.1 million revenue, which is an 11% increase from Q4 in 2022 (€8.2 million). Underlying EBITDA was €14.2 million, a 32% increase from the same period in 2022. 

In its final notes, GiG’s report noted that the bond refinancing was completed in Q4 and this move will provide the company with stability in the coming period. 

GiG Also Had Changes in the C-Suite Recently

GiG will be looking to build on the success in 2023. The company noted that it is well on track to implement its strategies, one of which is the appointment of a new senior vice president of business development at Platform & Sportsbook. 

Ryan Collinge, the former director of Blueprint Gaming and Gauselmann Group, will take on the responsibility and do everything to bring success to the company. He’s regarded as an expert and a senior in the industry with over 20 years of working experience. 

Collinge will have a pivotal role in GiG’s mission of expanding its global footprint. The CEO of Platform & Sportsbook, Richard Carter, shared that Collinge is a fantastic addition to the team, which already has several “accomplished new partners.” 

He acknowledged Collinge’s reputation and background in iGaming and concluded by saying that he’ll definitely “help to deliver on the opportunities that lie ahead.”

While speaking about the promotion, Collinge stated that when the opportunity knocked on his window, it was too exciting to pass it. He added that GiG has enormous potential and that so far, he’s been impressed with the company’s new set of products and its plans. Collinge concluded by saying that they will go into 2024 “full of ambition and anticipation.” 

GiG was founded in 2012 and since then, it amassed a massive reputation in iGaming and online sports betting. Most recently, the company launched several new products, including Sportsbook SportX, X-Suite Platform CoreX, DataX and LogicX. These products leverage the latest AI developments and maximize operator growth. 

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