Gaming Innovation Group (GiG) has released its Q3 financial report for 2023， posting revenue of €31.8m ($33.9m)， representing an increase of 38.9% year-on-year. 

Revenues for both GiG Media and for Platform & Sportsbook saw increases year-on-year. GiG Media posted an arevenue of €22.5m， up 49% from the third quarter of 2022， while Platform & Sportsbook posted revenue of €9.3m， up from €7.8m for the same period last year.  

Adjusted EBITDA was €23.4m in the third quarter of 2023， an increase of 175.3% year-on-year from €8.5m for the same period last year. Positive cash flow from operations was valued at €8.3m for the third quarter of 2023. 

Some of the operational highlights from the quarter that contributed to the positive results include signing two new agreements for Platform & Sportsbook， five additional brands going live on the Platform during the quarter; including new market entries in Serbia and Portugal， and AskGamblers continuing to grow，poker 365 online posting an increase of 45% in revenue from run rate at take over. 

GiG’s platform and sportsbook also went live in the US state of Maryland and FTDs for GiG Media were 113，800， up 31% year-on-year. There were also some new personnel appointed with Jonas Warrer appointed Acting Group CEO and Richard Carter becoming the new Platform & Sportsbook CEO. 

Chairman of GiG， Petter Nylander， commented on the results: "I am delighted to share with you the strong Q3-2023 results for Gaming Innovation Group， as we continue our journey towards becoming world leaders in the iGaming industry， focusing on our two core business areas， Media and Platform & Sportsbook. The third quarter of 2023 has proven to be another period of growth and achievement.”