Blockchain Press Releases

Gaming Innovation Group reports Q2 2023

Published

1 year ago

August 16, 2023

ST. JULIAN’S, Malta, Aug. 16, 2023 /PRNewswire/ — Gaming Innovation Group Inc. (GiG) reports Q2 2023 revenues* of €31.1 million and an adjusted EBITDA of €14.0 million.

“The second quarter of 2023 has proven another step forward for GiG with the business reaching another all-time high in revenues. We now look into the second half of the year with total focus on ensuring strong growth mechanics, continued operational improvement and long-term scalability for GiG,” says Richard Brown, CEO of GiG.

Financial Highlights

Gaming Innovation Group achieved all-time high revenues* in Q2 2023 amounting to €31.1m (22.1), an increase of 40% YoY, whereof 22% organic
Adjusted EBITDA was €14.0m (8.3), up 68%, adjusted EBITDA margin* increased to 45.0% (37.5%) an all-time high and strong progress towards financial target goal of 50%
EBIT was €6.6m (2.4), an increase of 173% YoY, with an EBIT margin* of 21.1% (10.8%)
Revenues in GiG Media at all-time high of €21.7m (14.8), an increase of 47% (20% organic), with an adjusted EBITDA of €10.3 (7.0)
Revenues* for Platform & Sportsbook were €9.3m (7.3), an increase of 27%, all organic, with adjusted EBITDA of €3.7m (1.3), adjusted EBITDA margin* increased to 39.7% (17.2%)
Profit before tax was €6.6m (2.2), an increase of 197% YoY
EPS was €0.05 (0.01)
Positive cash flow from operations of €9.1m (9.5))

Operational Highlights

FTDs for GiG Media ended at 109,400 (79,400), up 38% YoY
Ask Gamblers continued positive momentum with revenues in July up 45% from run rate at take over
Signed final agreement with Palasino, powering the online entry of Trans World Hotels & Entertainment retail business through Palasino.com
Platform & Sportsbook awarded licenses in Pennsylvania and Maryland, US and the new gambling software provider license in Sweden
Successful launch and completion of migration of all GiG legacy Sportsbook clients to Sportnco solution
Launched two new brands and signed three new agreements for Platform & Sportsbook in the quarter
Awarded Full-service Platform Provider and Multi-channel Supplier of the year at the 2023 EGR B2B award

Events after Q2

Signed one new agreement and three HOTs for Platform & Sportsbook
Five additional brands have gone live so far in Q3 2023, including new market entries in Serbia and further expansion into Latin America, number of live brands is 65 as of today
GiG’s platform and sportsbook live in the U.S. state of Maryland
Appointed Richard Carter as new Platform & Sportsbook CEO and Jonas Warrer as CEO for GiG Media
July has developed positively, and revenues are up 30% compared to the same period last year, whereof 10% organic growth

*Revenues are adjusted for revenues from a platform client where GiG recognizes the full operations in its profit and loss statement, which are partly offset by related cost of sales and site overheads. See Note 2 in the Q2-2023 Interim Report for more details.

Investor presentation and webcast

CEO Richard Brown will present the Q2 2023 results via livestream at 10:00 CET. The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

Link to the livestream:
https://www.redeye.se/events/928869/liveq-gaming-innovation-group

For further information, contact:
Richard Brown, CEO of GiG, [email protected] +34 661 599 025
Tore Formo, Group CFO, [email protected] +47 91668678

This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 16 August 2023.

About Gaming Innovation Group (GiG)

Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group’s vision is ‘To be the industry leading platform, sportsbook and media provider delivering world class solutions to our iGaming partners and their customers. GiG’s mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com

Legal disclaimer

Gaming Innovation Group Inc. gives forecasts. Certain statements in the report are forward-looking and the actual outcomes may be materially different. In addition to the factors discussed, other factors could have an impact on actual outcomes. Such factors include developments for customers, competitors, the impact of economic and market conditions, national and international legislation and regulations, fiscal regulations, the effectiveness of copyright for computer systems, technological developments, fluctuation in exchange rates, interest rates and political risks.

The following files are available for download:

https://mb.cision.com/Main/15972/3818380/2230901.pdf	GiG_Q2_2023 Advertisement
https://mb.cision.com/Public/15972/3818380/bbd1d05d349759aa.pdf	GiG Q2 2023 presentation

View original content:https://www.prnewswire.co.uk/news-releases/gaming-innovation-group-reports-q2-2023-301902059.html

Blockchain Press Releases

Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion

Published

3 days ago

December 20, 2024

CISION (PR Newswire)

compass-mining-scales-texas-operations-with-25-mw-bitcoin-mining-facility,-plans-further-expansion

Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025

WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.

The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.

“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”

Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.

About Compass Mining

Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.

Media Contact

BlocksBridge Consulting
[email protected]

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Blockchain Press Releases

Surprises Guaranteed: Bybit Card Dishes Out Rewards in Holiday Giveaway

Published

3 days ago

December 20, 2024

CISION (PR Newswire)

DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.

For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.

For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.

“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.

The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:

Up to 10% cashback in USDT, BTC and ETH on eligible purchases
Zero fees for instant virtual card issuance
Zero annual or hidden fees
Up to 8% APY

Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!

#Bybit / #TheCryptoArk #theBybitCard

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa

Published

3 days ago

December 20, 2024

CISION (PR Newswire)

bybit-p2p-unlocks-20,000-usdt-prize-pools-for-select-users-in-south-asia-and-africa

DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.

From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:

South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
Africa: Eligible users may register to enter the P2P Prize Spinner

Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.

As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.

Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.

Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.

#Bybit / #TheCryptoArk

About Bybit

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

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