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Bolstered by a New Partnership, Global Gaming Finds its Way in Q2

Published August 14, 2020 by Lee R

Global Gaming has rebounded in Q2 in its own way to weather the Covid storm.

Year-on-year Gains

The official word from the self-styled iGaming challenger in the iGaming industry is “back to profitability” for Q2 2020 on the basis of operating profit for the quarter of SEK 1.1m ($126,444), a solid year-on-year gain from 2019's 11.1m loss or the the period of April-June.

Revenues Need Work

Nonetheless, revenue experienced a 46% drop year-on-year to SEK 71.8m.

H1 Totals

As for full H1 in turbulent 2020, revenue totaled SEK 129.7m for a 56% year-on-year drop from 2019.

Global Gaming's H1 operating profit came back to top out at SEK 800,000, after last year's loss of SEK 54.5m; meanwhile the profit after tax of SEK 700,000 at Global Gaming actually represented a significant increase from last year's shortfall of SEK 53.3m.

Bold New Deal

A key driver of sustenance for Global Gaming during the sensitive Q2 recovery period, where every iGaming operator and provider was left to weather the storm through their own resourcefulness, was new main shareholder Enlabs AB which acquired 29.9% of Global Gaming to provide a solid revenue boost.

Global Gaming Leader Speaks

Global Gaming CEO Tobias Fagerlund called himself “proud and happy about the very good work we have done during the past year and look forward with excitement and confidence to the future.”

Enlabs

Fagerlund was also effusive in welcoming his new partners Enlabs, saying he was looking forward to “an in-depth dialogue with our new major owner.”

Global Gaming's Reach

Global Gaming's focus is on supplying innovation in gaming experiences to predominantly Nordic operators, while offering a leading PayNPlay solution for players to revolutionise leading gaming brands such as award-winning Ninja Casino.

More About Enlabs

Sweden's Enlabs was long known as Nordic Leisure AB, a leading betting brand with a growing number of operations under management in the sports, casino and i-Gaming industries including the Optibet, GoldClubCasino and Best brands.

Impact

The new deal with Global Gaming should enrich Enlabs expanding gaming products of casino, betting, poker and bingo as Enlabs expands into Estonia, Latvia, Malta, Spain and Sweden.

Outlook

The Global Gaming experience in Q2 demonstrates how operators and suppliers can forge deals to keep moving forward and adapt to the Covid-based disruptions.