Yesterday (15 February), Gaming Innovation Group (GiG) reported a 28.0% year-on-year increase in revenue for 2021. This marked its first full year as a B2B business after divesting its B2C assets in 2020. CEO Richard Brown expressed satisfaction with the performance but emphasized that the company is still in the early stages.
The revenue growth was primarily driven by GiG’s media business, contributing €45.0m, a 31.2% increase from the previous year. Brown sees significant room for further growth in this division, particularly in untapped markets and the expanding paid media sector.
The platform business also experienced a 13.2% revenue increase in 2021, or 40.8% without including white label clients. GiG’s strategy for this division involves identifying potential markets and expanding strategically, such as their recent launch in the City of Buenos Aires and their efforts in Latin America.
Latin America holds high potential for growth, and GiG plans to take advantage of strategic positions in markets like Argentina and Brazil when sports betting regulations advance in those regions. Additionally, GiG’s recent acquisition of sports betting platform Sportnco will further accelerate their focus on regulated markets.
Germany, despite facing challenging regulatory conditions, also presents opportunities for GiG. While revenue declined in 2021, the company continues to build its position in the country, particularly through partnerships with established operators and the launch of their platform for TipWin.
In terms of integration, GiG has taken thorough preparations for the Sportnco deal and aims to ensure a smooth transition. This includes decommissioning their current sportsbook product in the future. The platform division’s growth is expected to accelerate with the completion of this deal, expanding their licensed footprint to 25 markets.
Overall, GiG’s focus on long-term strategic positions and expansion in regulated markets, such as the US and France, has been validated by their results in 2021. As these markets mature, the platform division may even surpass the media business in terms of growth.
