GiG increases revenue and reduces marketing spend in Q3

Gaming Innovation Group (GiG) has reported operating revenue of €37.3m ($40.3m) for Q3; a 21% year-on-year increase.

GiG reduced marketing expenses by 11% to €10.6m, which was 29% of total revenues, down from 39% in Q3 2017. EBITDA increased  66% to €5m.

Robin Reed, CEO of GiG, said: “In the third quarter, we have delivered the last building blocks to our ecosystem, our own games and omni-channel solution, to cover all verticals in i-gaming.”

GiG Games launched its first in-house game during the quarter, agreeing its first external sportsbook deal with a Latvian operator, as well as a sportsbook agreement with existing operator Metal Casino.

Reed added: “We have created a base from where now, with full force, we can drive forward as the full service provider which every company serious about i-gamingmust be part of.”