Gaming Innovation Group has reported all-time high quarterly figures for the final quarter of last year, driven by growth in recurring B2B revenues.

GIG’s revenues of €39.9m in Q4 2017 were up 29 per cent on the previous quarter, producing EBITDA of €7.9m.

Overall for the year, operating revenues of €120.4m were up 125 per cent better than €53.6m from 2016. EBITDA of €12.5m is also up 115 per cent from €5.8m in the previous 12 month period.

"Through the last three months of 2017 we made solid progress across the organisation and reached the target of revenues above €120 million for the full year,” said GIG’s CEO Robin Reed. “The achievements are a testament of the capabilities and value of our proprietary technology, products and organisation.

“Our goal is to re-invent the value chain in the industry, replacing it with an open and connected eco-system, benefitting users, suppliers and operators alike. I see the recently announced Hard Rock partnership as evidence of our capabilities to develop industry leading services.

"We have taken large strategic and organic steps throughout 2017. The effects have now started to be evident in the financial performance. Going forward this trend will be strengthened. We look forward to a 2018 where we expect to see more positive results from the initiatives we have made – and those that we have in the pipeline.”

Last year, GIG entered the regulated US market through a partnership with Hard Rock International. The company also launched and moved to new headquarters in Malta. In the first half of this year, GIG aims to get a New Jersey licence and the firm is exploring several acquisition opportunities.