Platform services growth drives Q2 revenue growth for GiG
Published 11th August 2020
Revenue in the three months to 30 June amounted to €16.7m (£15.0m/$19.6m), up 32.3% from €11.3m in the same period last year. This figure includes revenue from the New Zealand-facing SkyCity business, which went live in August last year.
GiG reported year-on-year growth across a number of its business sectors, including its platform services arm, which comprises the technical platform and the front end and other managed services. Revenue here almost doubled from €4.2m in 2019 to €8.2m.
According to GiG, while sales developed positively, the novel coronavirus (Covid-19) pandemic slowed some contract negotiations, as land-based operators dealt with lockdowns. However, while talks were delayed, GiG said that on a longer-term basis, this will accelerate the transition to online.
Elsewhere, revenue from media services remained level at €8.6m, despite the impact of Covid-19. Historically, revenue from sports has made up around 20% of media services revenue, and while this was hit by Covid-19, performance in casino and GiG’s ability to switch paid media to casino ensured the division grew in Q2.