Jonathan Gauci, the former SVP of Engineering at Gaming Innovation Group (GiG), has introduced a new casino platform: Elantil.During his time at GiG since 2019, Gauci has...
GiG secures €4.7M investment from Hong Kong firm
Gaming Innovation Group (GiG) has received €4.7 million in funding from Hong Kong-based Hatcher Global, giving the company a financial source to support its future growth and innovation plans.
The investment comes through the sale of 8 million new shares, issued as Swedish Depository Receipts (SDRs), priced at SEK 6.41 (around £0.50) each.
GiG released a statement:
“This share issue reflects a timely move aligned with increased trading activity. The capital injection will support our pursuit of new growth avenues and enhance our financial flexibility.”
Being listed on Nasdaq First North, GiG chose a direct placement over a public rights issue to keep costs down, move quickly, and gain Hatcher Global as a long-term partner.
The investment follows a strong Q4 in 2024, where GiG Software secured €16 million in new contracts, including a major renewal with Betsson AB and six new client deals. This helped the company lift annual recurring revenue by 34% to €33 million.
GiG forecasts strong 2025
Looking ahead, GiG is forecasting €44 million in revenue and at least €10 million in adjusted EBITDA for 2025. The fresh capital will support the launch of SweepX, a social sweepstakes casino platform, together with upgrades to its CoreX platform, SportX sportsbook, and AI-driven LogicX and DataX tools.
This move results in a 5.6% increase in the company’s total shares, now over 136 million in circulation.
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