Gaming Innovation Group (GIG) generated record revenue during the second quarter of this year.
Revenue in the three-month period amounted to €4.8 million ($5.3 million), up 88% on the €2.6 million posted in the corresponding quarter last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased from a loss of €199,000 in the second quarter of 2014 to a positive of €72,000 in the same period this year.
Gross profit was up from €1.2 million to just under €2.8 million, while pre-tax profit also improved from a loss of €231,000 to a plus of €875,000.
GIG’s impressive performance in the quarter places its revenue for the first half of 2015 at €8.6 million, up from €5.2 million in the same six-month period last year.
EBITDA was up from a loss of €14,255 to a plus of €18,853, while gross profit hiked from €2.6 million to €4.7 million.
GIG also noted that although pre-tax profit came in at a loss of €62,108 in the first half, this is a slight improvement on the loss of €67,938 posted at the same point last year.
In a statement, GIG said the second-quarter and first-half results highlight the potential for further growth during the rest of this year and beyond.
“GIG expects continued growth in all three business segments going forward,” GIG said.
“Profits will be invested into marketing to obtain further scale advantages and thus positioning the company to capitalise of the expected re-regulation of online gambling across key national markets over the next three years.”
source : www.igamingbusiness.com
