B2B pivot helps GiG grow Q3 revenue

B2B pivot helps GiG grow Q3 revenue

Gaming Innovation Group (GiG) benefitted from its B2B pivot in the third quarter of 2020, with revenue from its platform services division growing strongly as the divestment of its B2C assets allowing it to slash net loss for the period.

Published 4th November 2020

Revenue for the three months through to 30 September amounted to €17.9m (£16.1m/$20.9m), up 77.2% from €10.1m in the same period last year.

GiG said that reported revenue for the quarter included the full profit and loss from white label client SkyCity, a subsidiary of New Zealand’s SkyCity Entertainment Group. However, SkyCity’s contribution was partly offset by related cost of sales and site overheads.

When revenue was adjusted for this impact, it amounted to €14.2m, representing a 42.0% year-on-year increase.

Platform services remained by far the main source of income for GiG in Q3, accounting for €9.1m of the Q3 total, an increase of 151.8% on the previous year.

Read the full story on iGB.