For Q3 2019, the Gaming Innovation Group (GiG) recorded revenues of € 30.2 m ($33.5 m) down 19% year-on-year. The supplier reported a € 2.7 million EBITDA, a 46% decline. B2C sales were € 20.2 million, down 17%, while B2B revenues were € 11.9 million, down 23%. With otherwise strong performance in Central Europe and Scandinavia (excluding Sweden), the GiG affiliate Rizk accounted for 75 per cent of B2C sales.
The supplier attributed its decline in revenue to a tough Swedish market and year-on-year comparisons were affected by the termination of a customer contract in Q4 2018. Along with their report, the supplier also announced the appointment of Richard Brown as its new CEO after the release of its Q3 results. Brown, who had joined the company in 2017 and worked as managing director, was later named the acting CEO. He would take the role from co-founder Robin Reed, who had been CEO for a number of years previously.
Brown, talking about his new role, told reporters that he was pleased to receive the new position as CEO of the Gaming Innovation Grouped after having worked within the company for the last four years. He added that he feels that there is lots of potential for the company, adding that while the industry may have encountered some difficulty in 2019, he remains excited about their future. He finally added that he is looking forward to the new phase of the company’s life cycle going forward.
| # | Casino | Bonus | Play | |||
|---|---|---|---|---|---|---|
| 1 |  | Spin Casino |  | 5/5 | $1000 CAD | Play now Review |
| 2 |  | River Belle | | 4.9/5 | $800 CAD | Play now Review |
| 3 |  | Gaming Club | | 4.8/5 | $350 CAD | Play now Review |
| 4 |  | JackpotCity | | 4.7/5 | $1600 CAD | Play now Review |
| 5 |  | Ruby Fortune | | 4.6/5 | $750 CAD | Play now Review |
More About Sophie Lise
Sophie Lise has spent a long time enjoying the sights and sounds that Canadian casinos have to offer, and has paid particular attention to the slots this country provides access to. She has now opted to share what knowledge and information she has managed to gather along the way, and regularly contributes to CanadianOnlineSlots.net.
Her original thinking, honest, straightforward writing style, and uncanny ability to spot the next big thing has earned her many followers, and she enjoys engaging with her audience online. Passionate about casino industry news, Sophie ensures that her readers always know what’s hot and happening.