According to CEO Richard Brown , platform and media provider Gaming Innovation Group (GiG) has experienced a "transformative 2020" by expanding its customer base and recording significant revenue growth.
At the start of the presentation, Brown gave a brief overview of GiG's activities in general, highlighting its licensed status in 10 jurisdictions, including two US states, with more than 460 employees and offices in Malta, Denmark and Spain.
In addition, Brown outlined the overall goal of GiG - "to drive sustainable growth and profitability of our partners through innovative products, scalable technologies and quality of service."
Providing a breakdown of GiG's 2020 trading year, the company signed 14 more clients to its platform in 2020, allowing it to launch new projects in several regulated markets, and expand and diversify its media business, positively impacting trading in late 2020 and early 2021. results.
The group's annual revenue was €52m, up 19%, while EBITA was up 212% to €10.7m on a normalized margin of 21%.
While acknowledging the impact of COVID-19, Brown argued that GiG has done a "good job" of its response to the virus by implementing a "quick home response" to achieve two main goals: protecting its employees and ensuring business continuity.
In addition, Brown also acknowledged that the coronavirus pandemic has accelerated certain trends, in particular causing a decline in retail and a significant increase in online activity.
Brown said, “2020 has been a truly revolutionary year for GiG. The company has evolved into a fully focused B2B business, we sold the B2C division to Betsson Group last April, improving its operational and strategic focus while downsizing the business.
“We have prepared the company for future growth, we have increased the sales of the platform by fully focusing on regulated jurisdictions, as well as the transition of retail gambling to online.”
Summarizing the report, Brown identified three goals for 2021; Growth focused on double-digit annual organic revenue growth; profitability with the goal of achieving an EBITDA margin of over 40% by 2025; and lastly, leverage, which means using cash to lower the leverage ratio while aiming for growth in the iGaming market.
The CEO concluded that GiG delivered "significant annual growth" in both revenue and EBITDA, expanded its customer base and maintained solid sales, while strengthening its market position in the US and providing a strong position to continue adapting. new clients.
A source - Finwire.tv channel on YouTube
GiG's "transformative 2020" post at ABGSC Investor Day first appeared on GamblingTV.com.