GiG media department sets records
GiG has been praised for their media performance, as the company set records for the 1st quarter of 2022.
This is due to the fact that the company said it is aiming to accelerate its short- and long-term growth when they purchased Sportnco after which income increased by 27% to 19.1 million euros.
The profit of Q1 grew by 26.26%, as Earnings Before Interest, Taxes, Depreciation, and Amortization had a 32% increase.
“We reached all the records of this year’s Q1 with high income for Q2, up by 27% annually, as a result of quality media performance. Positive cash flow and Earnings per share and EBITDA 32% growth. With the purchase of Sportnco, we are ready to move forward with our business.”
GiG’s chief executive officer Richard Brown.
Media performance had a 14.1 million euros income, with EBITDA growing by 49%.
During the Q1, this department sent 69,800 1st time depositors to operators, which is 60% more compared to the same period last year and 15% on a quarterly basis.
Due to the departure of Hard Rock and the continuous temporary headquarters created by the Dutch market, profit and EBITDA lost 200 thousand euros and dropped 5 million euros.
In the words of R. Brown, now that the purchase of Sportnco is complete they are focusing on the integration of the people and technologies. Thanks to the new contract between GiG and Sportnco, now they can see the power of the combined offerings. This contract took them to the African market.
Later he added that he is pleased with the results of Q1 and happy to move to Q2, where the company has an exciting future.
According to them, by the end of the year they should have 87-93 million euros profit and 30-35 million euros Earnings Before Interest, Taxes, Depreciation, and Amortization.
GiG stated that 2022 is the 1st year of their new strategies and all of their achievements are good, but they still have many things to do.