GiG has reported strong growth during its first quarter as a B2B-only company, with Q2 2020 EBITDA growing by 93 per cent year-on-year to €2.8m (€1.5m).
Revenues for the quarter stood at €16.7m (€11.3m), with the company’s B2C vertical divested to Betsson effective as of mid-April.
While some sales negotiations were put on hold due to Covid-19, GiG stated that following the signing of three new long-term agreements for its platform including sports and managed services, further agreements are expected to be signed before the year end.
In July, revenues on an adjusted basis were up 38 per cent compared to same period last year and the revenue guidance for 2020 has increased to €52.57m, with EBITDA in the range of €12-15m.
Richard Brown, CEO of GiG, said: "Q2 was a strong start for GiG as its first quarter as a B2B only company and the signings after the quarter confirm further my confidence that the company can continue to grow and flourish which will deliver shareholder value in the years to come."
