ANNUAL

REPORT

2022

Gaming Innovation Group Inc

Strategic

Report

2022 highlights 5

Yearly timeline 6

Message from the CEO 8

GiG Media 10

GiG Platform & Sportsbook 16

Board of Directors’

Report

Board of directors’ report 31

Risk Factors 44

The Share 47

Board of directors 48

Management 50

Corporate

Governance

Consolidated

Financial Statements

Auditor’s

Report

Table of contents

Sustainability

Report

Foreword 24

2022 Highlights 25

Key focus areas 2023 27

ESG 29

Annual Report 2022

≈580

employees

Offices

in Malta, Denmark, Spain,

France, Serbia and the US

Dual-listed on Oslo Børs

(Norway) and at Nasdaq

Stockholm (Sweden)

Over 25 primary

countries target by

Media assets

29 global platform

licenses

Our Vision

To be the industry-leading platform and media

provider delivering world-class solutions to our

iGaming partners and their customers.

Our Mission

To drive sustainable growth and profitability of

our partners through product innovation, scalable

technology and quality of service.

STRATEGIC

REPORT

Annual Report 2022

Strategic Report

↑€90.1m

↑38.0%↑€34.2m

Revenues (norm.)

+36% Y/Y

EBITDA

+51% Y/Y

EBITDA margin (norm.)

+34.3% in 2021

2020 2021 2022

66.3

82.6

51.3

62.1

43.9

44.1

REVENUES (MEUR)

Reported Normalised

EBITDA adj. and margin

(MEUR)

EBIT (MEUR)

2022

Highlights

• Reported revenues for 2022 were EUR 107.1m (82.6), an

increase of 30% from 2021

• Normalised revenues* for 2022 were EUR 90.1m (66.3),

an increase of 36%, whereof 28% organic

• Adjusted EBITDA ended at EUR 34.2m (22.7), up 51%,

EBITDA adj. margin* increased to 38.0% (34.3%)

• EBIT ended at EUR 11.8m (8.4), with an EBIT margin* of

13.1% (12.7%)

• Revenues in GiG Media at all-time high of EUR 61.7m

(45.0), an increase of 37%, all organic, with an all-time

high EBITDA adj. of EUR 29.6m (21.0)

• GiG Media reached all-time high in player intake,

FTDs ended at 352,000 (197,800), up 78%

• GiG Media continued to grow in the US market

throughout the year, present in 22 US states at year-end

• Revenues* for Platform & Sportsbook were EUR 28.3m

(21.4), an increase of 33% whereof 8% organic, adjusted

EBITDA of EUR 4.6m (1.8)

• Acquired Sportnco Gaming SAS on 1 April 2022

• Signed 22 new agreements for Platform Services in 2022

• Twelve new brands were launched on the platform in

2022 and five additional brands were development

complete at year end

• Signed agreement to acquire AskGamblers and related

affiliate websites in December

*Revenues are adjusted for revenues from a platform client where

GiG recognczes the full operations in its profit and loss statement, see

Note 34 in the Consolidated Financial Statements.

90.1

107.0

2019

2020 2021 2022

22.7

14.6

12.9

34.2

2019

2020 2021 2022

8.4

-4.5

-12.2

11.8

2019

29.4% 28.5%

34.3%

38.0%

Annual Report 2022

Strategic Report

Extended

contract with

Betsson Group to

Q4 2025

Powers launch

of FeniBet

casino in Latvia

Completed

acquisition of

Sportnco

GiG Media

crowned 'Best

casino affiliate'

at iGB affiliate

awards 2022

GiG signs

sportsbook

& platform

partnership with

Full Games SA in

Angola

GiG signs a

head of terms

agreement with

Crab Sports in

Maryland, US

Signs platform

and managed

services

partnership with

UK tier 1 operator

Aspers Group

Awarded supplier

licence in Ontario

Expands its

activity in Latin

America with

Grupo Boldt

Formalise

agreement with

Crab Sports for

Maryland, US

GiG powered

PlayStar brand

goes live in New

Jersey, US

Granted

authorisation in

Pennsylvania

LuckyDays goes

live in Ontario,

Gaming

Innovation

Group secures

ISO 20000

certification

Enters into

a strategic

commercial

partnership with

News UK

Gaming

Innovation

Group confirms

Switzerland

market entry

Completed

acquisition of

AskGamblers

Expands strategic

commercial

partnership with

News UK

Gaming

Innovation Group

awarded licences

in Pennsylvania

and Maryland

Signs first

agreement

for new GiG

Enterprise

Solution

FEB MAY AUG NOV FEB

Yearly

Timeline

Annual Report 2022

Strategic Report

“Strategically, operationally and

financially the group achieved

a number of key milestones -

unlocking a path to greater levels

of scale, growth and profitability

and continued creation of

shareholder value”

Annual Report 2022

Strategic Report

Dear shareholders,

2022 marked a significant and meaningful step forward

in Gaming Innovation Group’s development and progress

towards its long term vision of becoming one of the industry's

leading suppliers across Media and Platform & Sportsbook.

Strategically, operationally and financially the group achieved

a number of key milestones and began to further unlock a

path to greater levels of scale, growth and profitability and

continued creation of shareholder value.

I am extremely pleased with the financial progress we made

delivering annual normalised revenue growth of 36% and

expansion of the EBITDA margin to 38% to deliver adjusted

EBITDA of EUR 34.2 million. Importantly also we saw EBIT

increase by 75% to EUR 11.8 million and for the first time in

the Company's history we posted a positive pre tax profit of

EUR 7.8 million. This impressive financial performance is an

outcome of the extremely hard work that the teams across

the Company have put in not only in 2022 but since the

strategic repositioning of the business at the end of 2019. But

at GiG we are never satisfied and a tremendous belief across

the group is fostered that we have still a huge potential to

continue increasing the business growth prospects and much

of the work and investment last year was focused on the

ability to continue to improve in the future years to come.

Strategically GiG took an important step forward with the

completion of the acquisition of Sportnco in April, which

has given us a strong foothold in a number of high growth

markets through Latin America and Southern Europe. Through

the acquisition we now have a sportsbook product that is of

the highest quality and complements the platform offering

extremely well. The business combination also allows us to

pursue further synergies resulting in a greater efficiency and

cost savings across the group.

The fourth quarter of 2022 also marked a strategic step

forward for our Media business with two additional revenue

streams added to the business. Firstly, the acquisition of the

highly coveted AskGamblers website portfolio, giving GiG

Media further scale and a strategic foothold in a number of

new markets further diversifying and increasing the earnings

quality of the unit, while providing the business with a number

of operational synergies and growth levers to pull. Secondly

we signed and began working on our first media partnership

with News UK (owner of TheSun & talksport), a perfect

demographic reach for betting and gaming content and we

are excited about the partnership potential.

Our media business has continued to deliver operationally with

significant expansion into new territories and channels which

saw our revenues from the Americas increase by 174%. The

operational focus resulted in consecutive quarters of financial

growth and importantly our underlying growth driver, the

number of first time depositors referred to partners increased

78% in 2022. GiG Media continues to show robust and high

quality earnings, as we continue to build through on the

underlying marketing technology and operational systems that

will enable us to continue to drive forward in the coming years.

Platform & Sportsbook continued its strong expansion both

across the number of regulated markets - up from 14 to 29

- and secured more than 20 additional contracts providing

the business with additional revenue streams in the years to

come. The business unit made meaningful steps in operational

practises and optimisation that will drive further efficiency and

is excitingly positioned to continue to deliver leading technology

and services to the industry, pursuing growth and driving toward

margin expansion, demonstrated by the financial performance

with EBITDA increasing 163% year over year.

I take this opportunity to thank all the employees at Gaming

Innovation Group for their consistent dedication towards our

goals and continuous improvement that their tireless efforts

enable us. I would of course also thank our shareholders for

their continuing support of the group's ambitions.

message

from the

CEO

I am extremely pleased with the

financial progress we made,

delivering 36% revenue growth

and expansion of the EBITDA

margin to 38%

GiG has executed on another strategically important year

and a number of key milestones and we again start to look

ahead being well positioned for multiple growth opportunities

and increasing profitability through a determined focus on

improved operational performance.

In 2023 we have initiated a strategic review for the purpose

of separating GiG into two independent publicly listed

companies. The work has started, and I strongly believe that

a split has the potential to remove hurdles and unleash new

possibilities for each business segment and that we can

create two very successful companies.

Richard Brown

Annual Report 2022

Strategic Report

GiG

Media

Introduction

GiG Media is a market-leading iGaming affiliate established

in 2015 under GiG's subsidiary Innovation Labs Limited. After

its founding, the company acquired several affiliate assets,

including Rebel Penguin APS in 2017 and AskGamblers in

2023. It is now one of the biggest iGaming affiliates in the

industry. GiG Media has offices in Copenhagen, Denmark,

St. Julians, Malta and Belgrade, Serbia. GiG Media employs

around 300 people with more than 45 different nationalities.

Business Model

At GiG Media, our business generates customers for online

casinos and sportsbooks. To achieve this, we leverage a

combination of websites and paid campaigns to drive high-

quality leads to our clients. Our commitment to providing

valuable guidance and insights to users ensure that we

empower potential players and connect them with iGaming

operators that align with their interests and preferences.

Users

Publishing

• SEO/owned websites

• Media partnerships

Paid Channels

• Social Media

• Search Engine Marketing

• Permission Marketing

• Digital media buying

Affiliate

websites

GiG Media

partners

Leads

converted to

players

Players

(NDCs)

GiG Media:

Connecting Customers and Betting Operators

Digital marketing and lead generation

Gaming Innovation Group Inc. (GiG) is a

technology company operating in the iGaming

industry, offering cutting edge cloud-based

services and performance marketing through

leading B2B solutions. Founded in 2012,

Gaming Innovation Group’s vision is ‘To be the

industry-leading platform and media partner

delivering world-class solutions to our iGaming

partners’ and their customers.’ GiG’s mission

is to drive partners’ sustainable growth and

profitability through product innovation,

scalable technology and quality of service.

GiG’s strategy is founded on three customer

focused business areas, anchored to innovative

technology and supported by its group

ambition for top performance and operational

excellence.

"To be the industry-

leading platform and

media partner delivering

world-class solutions to

our iGaming partners’

and their customers."

Annual Report 2022

Strategic Report

Publishing Services

Publishing operates 100+ casino and sports websites. Some

of our flagship websites include wsn.com, askgamblers.com,

and casinotopsonline.com, which have a global reach. We also

operate a score of smaller locally-targeted websites tailored

to the preferences of specific markets. Our websites serve

as valuable resources for players, providing the information

they need to make informed decisions about their online

gaming preferences and choices. We publish commercial and

informational content on our websites to engage the end user

and optimise our presence on search engines like Google.

In addition to its website operations, GiG Media has forged

a commercial partnership with the media powerhouse News

Corp UK & Ireland Limited at the close of 2022. News UK

is renowned for serving millions of online readers via its

premium media websites, The Sun and talkSPORT. As part

of this strategic partnership, GiG Media operates a betting-

focused section on The Sun and talkSPORT's websites,

providing readers with a centralised hub for all their betting

needs. Since the start in December 2022, the partnership

has yielded highly positive business results, prompting the

expansion of our collaboration to include Ireland and the US.

By having a mix of established and emerging websites

covering many markets, we reduce business risk through

diversification, which we see as key to ensuring sustainable

long-term growth.

A Selection of Our Websites

WSN.com

WSN, or World Sports Network, is a reputable and

independent online sports and betting guide. Our team

of sports and betting experts follows guiding editorial

principles to deliver in-depth reviews of major legal

sportsbooks, breaking sports news from the US and

worldwide, comprehensive betting statistics and tips,

previews, and the best predictions and odds coverage for

hundreds of sports events.

In addition, WSN also hosts the Ride the Line podcast,

covering the biggest headlines and providing tips for

upcoming games. WSN promotes licensed sports betting

and casino operators in 21 regions in North America. The

website also covers daily fantasy sports and horse racing

across the US.

CasinoTopsOnline.com

CasinoTopsOnline.com (CTO) is a trusted online casino review

site that has been providing gamblers safe and reliable

information about online casinos and iGaming since 2011. The

site has grown into a respected brand through our team's

shared wisdom and skills. Our tagline, "We Review. You Play."

reflects our mission of helping players choose an online

gambling site that meets their needs.

CasinoTopsOnline.com is currently available in 23 regional and

language versions, reflecting the scale of its global presence.

Each casino listed on the website is carefully reviewed by a

team of experts and assigned a CasinoTopsOnline TrustScore.

The proprietary rating system considers a host of trust

factors to ensure that visitors to the website are exposed to

the most reliable operators regardless of location.

AskGamblers.com

AskGamblers.com is an online casino review website that

provides comprehensive and unbiased information on online

gambling. The website features many reviews, ratings, and

feedback from players and industry experts.

Established in 2006, AskGamblers has become a trusted

source of information for players looking for the best online

casinos and games. In addition to reviews, the website also

provides up-to-date news, articles, and exclusive bonuses

and promotions from the top online casinos in the industry.

The AskGamblers Casino Complaint Service is a key site

component where the Complaints Service team helps players

and operators resolve disputes. With over 80% resolved

complaints, AskGamblers.com is an essential resource for

new and experienced players in online gambling.

Annual Report 2022

Strategic Report

Paid Services

Our Paid business engages in the launch and maintenance of

various online campaigns, working with a range of channels

and partners to generate players and leads for iGaming

operators. Through this arm of our business, we can connect

with a broad international audience and drive high levels of

traffic to our partners’ online sportsbooks and casinos.

GiG Media actively manages a diverse range of online paid

campaigns as a part of our Paid business. These campaigns

can be broadly classified into four categories: Search Engine

Marketing, Display and Banner Advertising, Social Media

Marketing, and Permission Marketing/CRM. We meticulously

design and execute these campaigns to ensure maximum

effectiveness in driving traffic and generating leads and

players for our clients.

We utilise a data-driven approach to identify the most

effective channels and strategies to reach our client's target

audience. We also conduct ongoing testing and optimisation

of campaigns to ensure they achieve the desired results and

reach the highest return on investment (ROI).

Utilising a multi-channel approach in our Paid business,

we position ourselves to take advantage of opportunities

as they present themselves. Additionally, having multiple

channels allows us to diversify our revenue and reduce our

dependence on any one channel or partner, which aligns with

our strategic goal of achieving sustainable, long-term growth.

Paid Marketing Channels

Our paid marketing channels have a global reach and can be

scaled up or down based on emerging business opportunities.

We frequently utilise these channels to evaluate the potential

of new markets before expanding our presence with the

Publishing team and developing our websites in those

markets. Some channels are good at engaging with users

actively looking for a casino or sportsbook. In contrast, others

are good at engaging with new potential players. A mix of

these pull and push channels widens the potential user base

we can market to.

Our paid marketing channels can be divided into four

categories:

Search Engine Marketing

Working with major search engines like Bing and Google,

our SEM team ensures visibility in search engine results

pages (SERPs) through paid advertising and optimisation

techniques. For example, if a user searches for “Online

Casino”, an ad leading to one of GiG Media’s sites should be

shown at the top of the search engine results page.

Social media

In the social media team, GiG Media builds audiences and

pages with relevant content and ads. GiG Media uses a mix of

paid and organic (community) ads to drive traffic to either our

websites or directly to our clients.

Permission marketing/CRM

Direct marketing to players promoting offers to users

interested in online casinos or sportsbooks, for example,

through emails. We use our websites to collect free leads for

this channel.

Display & banner advertising

Our Display channel uses a mix of various ad formats, for

example, traditional banners or pop-up ads working with

media partners worldwide.

€20.9m

Paid

€40.8m

Publishing

Revenue

FTDs

108,300

Publishing

243,300

Paid

Annual Report 2022

Strategic Report

Our Marketing Platform and Proprietary Technology

Our marketing efforts are driven by our marketing platform,

which empowers us to compete and achieve attractive

profitability in our operations. We utilise centralised systems

to power all our websites, with each domain having unique

features while leveraging shared services from our marketing

platform. This approach allows us to maintain high-quality

website standards with compliant and accurate information

at all times. It also allows us to expand into new markets

without expanding our IT development team and increasing

associated costs.

Our marketing platform comprises several layers that work

together to manage the diverse requirements of running

websites and online campaigns in different markets with

distinct needs and focal points. These layers include:

1) Multiple front-end frameworks, 2) Various content

management systems (CMS frameworks), 3) Tools for

creating campaigns, 4) Business intelligence tools (BI), and 5)

Marketing compliance tools.

A component of our marketing platform is our business

intelligence tool, which gives our marketers a transparent

view of the performance of our websites, campaigns, and

clients. Our BI tool enables our organisation to make quick

and accurate decisions, which is crucial in online marketing.

Our technology can manage additional websites with minimal

impact on operating expenses. The infrastructure we have

developed over the past several years provides significant

economies of scale. A robust, centralised marketing platform

guarantees the excellence of our procedures, products,

and websites. Moreover, this system facilitates the future

procurement and fast integration of affiliate assets or

companies, as websites can be transferred to our marketing

platform with enhanced quality and cost-effectiveness.

The power of data

The presence and consumption of data are crucial to the

success of our business. There are various ways in which

data is indispensable for boosting our revenue and earnings:

• We can better understand our user's behaviour and

preferences by analysing their data. This data analysis

provides valuable insights into our users' desires, content

preferences, and actions that motivate them to purchase

or take other desired actions.

• Improving user experience: By examining user data, we

can pinpoint areas that require improvement, such as

website navigation, search functionality, and content

recommendations. Enhancing these aspects leads to

increased user engagement, loyalty, improved search

rankings, and, ultimately, more revenue.

• Conducting marketing optimisation: We leverage data to

optimise our marketing campaigns and target the right

audience with relevant messages. Analysis of marketing

data helps us identify audience segments that are most

likely to convert, enabling us to tailor our marketing

efforts accordingly.

How we

convert traffic

How we

acquire traffic

How we get value

out of traffic

01 02

MEDIA

Cycle of Growth

• Our expertise in traffic acquisition

directly impacts our ability to increase

conversions in a constantly changing

market

• With higher conversion rates, we gain

leverage in negotiating better deals

and accumulating valuable data on our

partners and market performance

• Our deep understanding of various

channels, markets, and partners enables

us to strategically shape traffic and

acquire the most valuable traffic at the

best possible price

Annual Report 2022

Strategic Report

Compliance

Compliance is essential to affiliate marketing, especially

in the iGaming industry. It ensures a level playing field,

fosters customer trust, and mitigates legal risks resulting

from non-compliance. Compliance is an integral part of

running a sustainable and ethical business. At GiG Media,

we have developed our own compliance tool, GiG Comply, to

monitor and ensure that our marketing activities align with

regulatory requirements. The effectiveness of our product

is demonstrated by its adoption by several operators and

affiliates in the industry. As compliance continues to be

a critical aspect of affiliate marketing in iGaming, we will

continue to enhance our marketing compliance tool to

maintain positive and stable relationships with our clients

and users.

Markets

GiG Media’s websites have a widespread global presence

from North America to Asia. Initially, we established a robust

foothold in the Nordic markets and subsequently broadened

our reach to encompass Germany and the UK. Over the last

few years, we have expanded into other countries, effectively

becoming a worldwide player with significant revenue streams

from the Americas, Western and Eastern Europe, Nordic

countries, and Asia. Our flagship website, CasinoTopsOnline.

com, is available in 23 regional and language versions, while

AskGamblers.com has a global presence. World Sports

Network (wsn.com) targets North America and global users

interested in US sports and gambling. Additionally, we

conduct paid campaigns in over 100 markets.

Being a global actor increases diversification and reduces risk

by being less exposed to specific markets or regions. Hence,

it is a focal point for us to grow revenue in many territories as

opposed to having a more narrow go-to-market strategy.

Diversification

Since 2019, diversifying our business into more markets

and broadening our portfolio of websites and campaigns to

generate revenue has been a central strategy for us. Likewise,

diversifying our customer base to include a higher number of

different clients has been a priority. We aim to grow in both

sports and casinos to mitigate the effects of seasonality,

such as the typically lower demand for sports during summer

months without significant events like the Euro or World Cup.

Diversification remains a key theme for our business and

strategy in 2023. Having a more diversified business will

reduce risks and create more growth opportunities - and, not

the least, create sustainable long-term growth to benefit our

partners, employees, and shareholders.

Strategy for 2023

In 2022, GiG Media went through a significant transformation

marked by an impressive increase in player intake, revenue,

EBITDA, and several market entries. The Company aims to

sustain this momentum by continuing to explore new markets

in 2023 as one of the revenue growth drivers. Learnings from

Paid campaigns will be applied to our Publishing services to

determine what markets to enter with the longer-term build-

up of websites.

Moreover, consolidating its current market position by

enhancing websites and campaigns is viewed as a significant

revenue potential for GiG Media. To this end, the Company

invested a considerable amount of time in securing licenses

for paid marketing in various territories, and it plans to ramp

up its paid marketing efforts in these markets as 2023

unfolds. Throughout 2023, as we continue to enhance and

consolidate our marketing platform, an increasing number of

sites will be fully integrated into our marketing platform to

maximise the benefits it provides. There is ample opportunity

to increase market share by improving websites and

campaigns. Several website assets and markets launched in

2022 are expected to deliver value in 2023.

In 2022, the Company's portfolio expanded with the

acquisition of AskGamblers.com, a premium casino affiliate

website. Additionally, GiG Media forged a commercial media

partnership with News UK, which generated significant

revenue in just a few months of operation. In 2023, the

growth of AskGamblers.com and the company's media

partnerships are expected to be important drivers of

revenue growth.

Annual Report 2022

Strategic Report

GiG Media Accolades

GiG Media

Best Casino affiliate 2022

#3 2021

EGR Power Affiliate

Rankings

#4 2022

EGR Power Affiliate

Rankings

2023 iGB Nominations

Best Casino Affliate

Best Sports Betting Affiliate

Employer of the Year

Annual Report 2022

Strategic Report

GiG Platform

& Sportsbook

Platform services

GiG delivers world-class igaming platform solutions and

services to operators and their customers, via innovative

and scalable technology. Our next-generation iGaming

platform, composed of Player Account Management

(“PAM”), Front-end, Back office and managed services is

purpose-built for complex regulated markets and allows for

accessible and compliant market entry into more than 30

regulated markets around the world. We specialise in helping

our partners expand their business on a global scale, as our

agnostic platform allows for innovation and customisation

adapted to individual needs, localised customer experiences

and user journeys. To provide a flexible solution, our

platform rapidly integrates with partners’ existing

technology, preferred third parties as well as leading

payment and game content providers. This allows operators

to choose freely which content and services are best suited

for their players' needs, providing the support needed to

match their growth aspirations and localise their brands.

Sportsbook

The GiG Sportnco sportsbook combines an innovative

and proprietary product with an unparalleled geographical

footprint, following the acquisition of Sportnco by GiG in April

2022. Our sportsbook offers a complete end-to-end solution

with the sportsbook and platform combined, to allow for a

seamless user experience for all operators. Our partners

benefit from one single integration point, and facilitate their

onboarding and launch. Now a truly global offering, the GiG

Sportnco Sportsbook enjoys access to over 30 markets,

focused on flexibility to deliver tailored odds, personalised

margins and tailored strategies to specific regulated markets.

Our sportsbook has enjoyed success with 13 new deals

signed in 2022, and importantly, the year has helped

establish a strong framework from which to grow towards.

2022 saw us enter 4 new jurisdictions and exceed 35

partners in total, enjoying an 18% growth in terms of unique

users year on year. Our geographical footprint now covers

clients all over the world, with new deals covering Angola,

Province of Buenos Aires, City of Buenos Aires, Cordoba,

Annual Report 2022

Strategic Report

Mendoza and Entre Rios in Argentina,

Portugal, Maryland, Ontario, Latvia and the

United Kingdom.

2022 also saw our centralised and

experienced trading team enabling us to

maximise customer satisfaction and revenue

generation to deliver record numbers of

activity during the Fifa World Cup.

Our Sportsbook is specifically designed to

accommodate integrations as quickly and as

easily as possible. Due to continuous frontend

and automation development, our capacity

and speed to market has increased by 50%

over the last year allowing us to deploy and

configure environments twice as fast as before,

launching new customers in existing markets as

fast as in 6 weeks. The past year has seen us

integrate the sportsbook with our proprietary

and market leading platform technology, and

further deliver an additional 8 new URL’s, 6 of

those in complex regulated markets for brands

in Portugal and in Latin America.

From self-service to fully managed,

it’s all about choice.

By ensuring a strong relationship with our

partners, we are able to identify together the

best way to take their iGaming and sportsbook

operation to launch and beyond, successfully

giving them the freedom to choose if they

want self-service, or to receive fully managed

service. Our managed services support our partners

with a dedicated account manager and an integrations

manager. Available from pre-launch throughout the

business lifecycle, providing operators with the

operations, CRM and media services support they need

to help manage and grow their business.

Whether they are looking for help with their acquisition

strategy, faster payments, increased customer lifetime

value or for advanced responsible gaming and player

protection tools our managed services solution has

every eventuality covered. This flexibility is built on our

belief in long-term growth, ensuring brand loyalty and

the highest quality of tailored services for our partners

and their players.

Committed to growth in regulated markets

Our next-generation iGaming platform and sportsbook

are built specifically for accessible and compliant entry

into regulated markets around the world. We specialise

in helping our partners expand their business on a

global scale, providing the localised knowledge, support

and guidance to ensure they are fully informed on the

requirements needed for a speedy and successful launch

in new markets.

Annual Report 2022

Strategic Report

We are fully committed to growth in regulated markets as

part of our strategy, as of today being authorised in four

U.S. states, Ontario in Canada, 15 markets in Europe, and

with others in Latin America, Africa and the rest of the

world. Additionally, the platform is further certified in a

further eight regulated jurisdictions in accordance with

local technical standards. It is certified and compliant

with internationally recognised GLI33 and GLI16 platform

standards, with ISO27001 security and ISO20000 service

management standards.

solution, including frontend development. The platform boasts

a unique frontend experience and is built mobile-first, to

ensure that operators provide their players with the same

quality across all devices.

Right place, right time. Choosing the perfect partners.

GiG believes in the power of the partnerships we form,

building relationships so that we can fully focus on long-term

growth, together. This helps us ensure brand loyalty and the

highest quality of tailored services for our partners and their

players, working together to identify the best way to take

their iGaming operation to launch and beyond, successfully.

Security as a priority

At GiG, security is considered a strategic priority, as a

platform and sportsbook partner that operates in heavily

regulated markets such as the UK and US, it is imperative

to GiG that it is ahead of the curve when it comes to

certification. In February 2021, GiG was awarded an ISO

27001:2021 certification for its frontend development solution

and content management system. The certification now

covers development, infrastructure, network configuration

and associated product operations for frontend, middleware

and backend Gaming services hosted on GiG’s infrastructure.

In addition, GiG is also ISO 27001 certified for the real-time

data platform. The accreditation means that through its agile

security framework, GiG is protecting its partners and their

players with the highest level of information security available,

further demonstrating its commitment to continuous

improvement and in providing its partners with a secure

solution they can trust.

Licences and certification

GiG’s iGaming platform and sportsbook solution is licenced

by the Malta Gaming Authority (MGA), United Kingdom

Gambling Commission (UKGC) and is offered under a Casino

services industry enterprise licence (CSIE) issued by the

Division of Gaming Enforcement (DGE) in New Jersey. We are

licensed as a full Interactive Gaming Manufacturer License

in Pennsylvania by the Pennsylvania Gaming Control Board

(PGCB),by the the Alcohol and Gaming Commision (AGCO)

in Ontario and as an Online Sports Wagering Operator in

Maryland. This is alongside two class II licences for the

management and hosting facilities on its iGaming platform and

for the production and distribution of software services in the

field of iGaming in Romania. It is certified in Sweden, Spain,

Germany, Iowa (USA), Argentina, Croatia, Latvia and is also

compliant with internationally recognised GLI33 and GLI16

platform standards, as well as ISO27001 security standards.

At GiG, we understand the importance of entering new

markets for our partners’ growth. Therefore we have a

dedicated team of experts with extensive knowledge and

experience of building iGaming solutions that comply with

regulatory requirements around the globe. We ensure that our

partners are fully informed of the requirements needed for a

speedy and successful launch in new markets.

Shaping a safer and more responsible Gambling

industry

As a continued effort to build on and improve our technology

to meet partners’ demands, GiG has developed a suite of

robust responsible gaming, risk & fraud and anti-money

laundering features into our data platform. To help build a

more sustainable future for operators and their players, our

RG features allow operators to detect high-risk and vulnerable

players by flagging patterns of abnormal behaviour, through

our real-time automation tool Logic. Our Risk & Fraud

prevention and incident control tools, allow operators to

quickly identify potential high-risk cases, helping to identify

and eliminate money laundering and financial crime, to ensure

long-term sustainable player relationships. This is in addition

to GiG’s first-line customer support team, who are all required

to have undergone GamCare accredited training, keeping

with our commitment to responsible gaming is reflected in

everything that we do.

Harnessing the power of automation to drive

sustainable performance

Automation is now more important than ever, particularly

when it comes to improving the player experience, entering

new markets, creating a safer playing environment and

improving lifetime value. GiG’s automated features help to

improve the customer experience by allowing operators to

create real-time actioned events, helping to drive a strong

competitive advantage.

Our platform is built around flexible solutions and APIs that

can be easily integrated with a variety of systems. New

partners have the opportunity to tailor their needs whether

it be for a completely new site or migrating from another

platform. It offers different points of integration, directly

to the platform, into our CMS layer and a full end-to-end

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Product showcase

Platform

Our next-generation iGaming platform is at the core of our

business, built upon agile technology specifically designed

for complex regulated markets to allow for accessible and

compliant entry into 30+ regulated markets around the

world. We specialise in helping our partners expand their

business on a global scale, as our agnostic platform allows

for innovation and customisation adapted to individual needs,

localised customer experiences and user journeys. Our

platform is built around flexible solutions and APIs that can

be easily integrated with a variety of systems. New partners

have the opportunity to tailor their needs whether it be for

a completely new site or migrating from another platform. It

offers different points of integration, directly to the platform,

into our CMS layer and a full end-to-end solution, including

frontend development. The platform boasts an unique

frontend experience and is built mobile-first, to ensure that

operators provide their players with the same quality across

all devices. To provide a flexible solution, our platform rapidly

integrates with partners’ existing technology and preferred

third parties, integrating with all of the leading payment and

content providers. All of this allows the operators to choose

freely which content and services are best suited for their

players' needs, providing the support needed to match their

growth aspirations and localise their brands.

Data

GiG’s real-time data platform, GiG Data, allows operators

access to key intelligence at the right time, placing their

brands ahead of the curve in competitive markets. The

platform provides several features to allow users to retrieve

and build their own reporting across all areas of the business,

including marketing, retention, financial and AML.

GiG Data also forecasts behaviour of players in real time, and

the product has helped operational teams be more lean and

operationally efficient. It’s a main ingredient for pivotal areas

such as acquisition, retention, personalisation and player

safety. All intel is propagated to our real time rules engine,

GiG Logic, where an operator can not only access predictions

in real time, but also create tailored automated actions. All

in all, allowing operators to be proactive and heads and

shoulders above the rest.

Logic

GiG’s real-time rules engine, Logic, allows operators to

orchestrate features by building business rules without the

need of coding knowledge or development teams. With Logic,

GiG’s partners are able to leverage the integrations available,

both from GiG Platform and beyond, to reduce operational

costs. Such a product enables the brands to optimise their

time to market. GiG Logic utilises transactional data from

all other products within GiG Platform, including GiG Data.

Tailored automated actions can be built around players'

experience and their current life cycle.

Logic has over 100 pre-defined building blocks and processes

over 52 million messages a day.

How it works

Logic absorbs messages by reading what players are doing

both offline and online through any API call. For example,

if a player spins a game or makes a deposit, logic reacts in

milliseconds to whatever that player is doing. The unique

user interface then allows operators to drag and drop rules

and building blocks in a flow chart style design, helping them

to build their logic within these messages and tailor them to

their players.

Frontend

GiG works closely with its partners to digitally recreate the

look and feel of their on-site casino. The frontend framework

and CMS solutions work together to keep players engaged

with a consistent gaming experience and enables our clients

to continue to stand out from their competitors online as they

do offline.

Through machine learning applications, GiG’s feature-rich

CMS automatically provides players with recommendations of

games and presents them with automated promotions such

as tournaments, races, automated cash-back and more. This

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Strategic Report

allows operators to tailor their content and cross-sell

marketing campaigns to ensure they are always in front

of their players with engaging content.

Managed services

GiG’s managed services solution provides operators

with a tailor-made package of turnkey services to

suit their individual business needs’ including media

services, operations services and customer relationship

management. All of GiG’s turnkey managed services

are available from pre-launch throughout their business

lifecycle, providing operators with the support needed

to help manage and grow your gaming business.

Operations

Our dedicated and experienced operations team

takes care of all operational aspects of our partners’

organisation including support, compliance, risk and

fraud and KYC.

GiG’s first-line customer support team are highly skilled

and have undergone GamCare accredited training

ensuring that our commitment to responsible gaming is

reflected in everything we do.

Customer relationship management section

At GiG, customer relationship management is so

much more than a CRM tool, it’s all about creating

an integrated customer strategy that focuses on

our partners’ customers journey and lifetime value.

With over a decade of experience from within a B2C

gaming environment, and with expert knowledge of our

in-house CRM system and tools, and of its products,

GiG’s CRM team is committed to delivering a proactive

approach to customer relationships.

"It’s all about

creating an

integrated

customer strategy

that focuses on

our partners’

customer’s journey

and lifetime value"

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Strategic Report

Sportnco: our Sportsbook

The GiG Sportnco Sportsbook combines an innovative

and proprietary product with an unparalleled geographical

footprint, following the acquisition of Sportnco by GiG in

April 2022. Our sportsbook offers a complete end-to-end

solution with the sportsbook and platform combined, to

allow for a seamless user experience for all operators.

Our partners benefit from one single integration point to

facilitate their onboarding and launch. Now a truly global

offering, the GiG Sportnco Sportsbook enjoys access to

over 30 markets, focused on flexibility to deliver tailored

odds, personalised margins and tailored strategies to

specific regulated markets. Our geographical footprint now

covers clients all over the world, with new deals covering

Angola, Province of Buenos Aires, City of Buenos Aires,

Cordoba, Mendoza and Entre Rios in Argentina, Portugal,

Maryland, Ontario, Latvia and the United Kingdom.

Our Sportsbook is specifically designed to accommodate

integrations as quickly and as easily as possible. Due to

continuous frontend and automation development, our

capacity and speed to market has increased by 50%

over the last year allowing us to deploy and configure

environments twice as fast as before, launching new

customers in existing markets as fast as in 6 weeks.

The success of our Sportsbook is born out of our

obsession with sports, and that passion is perfectly

encapsulated by our specialised in-house trading team.

Centred around bespoke offerings for key markets, 24/7

availability, proactivity, personalised risk management

and personalised customer support, we are able to build a

truly tailored experience for our clients, regardless of their

location around the world. We are able to offer dedicated

odds, dedicated markets and a customised pricing

strategy, which enables the sportsbook to be personalised

and tailored to suit both the market and partner. The

team designs solutions for the preferences and habits of

local operators and their players, while remaining 100%

compliant with the regulated markets in which it operates.

• We work with the leading data and odds suppliers in

addition to newly integrated suppliers, ensuring our

betting content is always rich, varied and up-to-date

for an ultimate player experience for our partners’

players.

• Innovation is ingrained within our culture, and

development of a multi-bet feature is designed to

deliver more opportunities for partners to tailor

margins, adapted to unique market needs.

• This flexibility increases the control of margins, allowing

us to offer the most attractive odds package for the

client, therefore maximising revenue-generating

opportunities and increasing customer retention,

acquisition and satisfaction.

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Our websites are all designed to cater for this flexible

centric approach, allowing our partners to customise their

promotional and SEO content thanks to the full control we

give them over their advertising and marketing activities.

The bespoke approach is not limited to our trading

capabilities. We are able to offer regular reporting, day to day

if required, and report on dedicated needs, all supported by

a team of dedicated account managers, specialised for each

market. The new back office has a strong CMS that allows

the client to take full control over the promotions display,

customised banners for every sport, category, competition

and event and the SEO meta elements and text content. The

back office and reporting system also allows our customers

to track the effectiveness of their marketing in real-time. This

is done pre-match, giving them the opportunity to modify or

adjust their promotions, or in-play with the event in progress.

Our system's features enable our clients to assess their

efficiency and tailor their offerings to ensure specific bets

and features can be found by the players in optimal fashion,

whether pre-match or in a live setting.

The interface is simple and intuitive and provides unique

tabs and access for each department and their teams:

customer service, marketing, management or affiliates. Each

department can consult the system and use it for marketing

analysis, trading and risk management assessment or

affiliate reporting.

We have been working extremely hard over the last 12 months

to ensure we offer, and will continue to offer, what the market

needs to build growth and success. GiG's Sportnco sports

betting solution is more than a betting solution, it is a global

and bespoke service that includes a team of over 100 highly

skilled professionals who bring development, odds and risk

management, consultancy and personal attention to our

partners so that we can launch, at unparalleled speed, in any

jurisdiction and grow their business together. This is the key

to our commercial success in demanding regulations. This is

why operators trust us year after year.

Key benefits

• Dedicated trading and risk management

• Mobile and apps (native and hybrid) responsive frontend

design

• Extensive knowledge and expertise on auditing

requirements for regulatory authorities

• Business analysis, consultancy and marketing advisory

services

• 50,000+ pre-match events per month

• 25,000+ real-time live events per month

• 600+ betting markets

• 5000+ leagues

• 50+ Sports

Omnichannel

GiG works closely with its partners to ensure that their

digital transformation is a smooth process that offers

players a tailored and seamless customer journey. GiG’s

omnichannel solution can be integrated with any casino

management system allowing its partners to seamlessly

combine their retail and digital offering. This not only helps

to increase customer convenience but also to increase

player lifetime value and retention.

The GiG omnichannel approach allows operators to support

and complement their retail offering, giving them a strong

presence in both the online and offline worlds, which makes

them more accessible to their customers. GiG’s omnichannel

solution can be integrated with any casino management

system allowing operators to harmoniously combine their

retail and digital offering.

Some of the main benefits to GiG’s omni solution is the single

wallet, registration and shared loyalty system, each of which

come with significant benefits to both the operator and their

players. The GiG omnichannel approach adds a high level of

value throughout the entire customer journey, placing our

partners’ customers at the centre of their brand.

"The GiG omnichannel

approach allows

operators to support and

complement their retail

offering, giving them a

strong presence in both

the online and offline

worlds, which makes

them more accessible to

their customers"

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SUSTAINABILITY

REPORT

Sustainability Report

Annual Report 2022

Our people and practices are

continually improving to focus on

creating a truly sustainable business

which adds value to the world in

which we live. From adopting all ESG

and United Nations standards and

values, to the key measurements and

KPIs, we are encompassing them

all in our sustainability strategy and

planning. We are excited to help lead

the industry into a better tomorrow, for

people and for planet.

We are starting from the very

foundations of the organisation, looking

at everything through an ESG lens, and

have identified a number of areas and

ways to improve what we are doing.

Defining two clear sustainability goals

has meant we can identify what is and

is not working. 2022 has been a year

of research and development, where

the team has created partnerships with

leading B Corp certified companies

to guide us, these include leading

carbon management platform Greenly,

and leading consultancy Legacy,

which improves the understanding

and activation of our investment, and

means we can measure everything we

do moving forward.

We continually build and develop upon our regulatory compliance, information

security and platform management efforts to provide our partners and the

communities in which they operate in, with the safest, most secure and innovative

service, including AML, Player Protection, Safer Gambling, ISO 27001 and ISO 20000

certificates. Our climate action includes partnering with Greenly to accurately

measure, manage and inturn reduce our Scope 1, 2 and 3 GHG emissions. We

have also stopped gifting merchandise, as the emissions produced impact the

climate negatively, and are now offering well-being top-ups, a Reward Toolkit for

Managers and their teams, and we will shortly provide truly sustainable welcome

gifts which offset carbon emissions around the world, including tree planting or

donation to biodiverse projects through Switzerland based The Gold Standard's

organisation “for a climate secure and sustainable world”. We have also offset

167,000kg Co

(100% of our recorded business travel footprint) through The

Gold Standards Verified Emission Reductions scheme. In 2022 our People team

collected, compiled and addressed over 63,000 feedback points through annual

and monthly Voice of Employee and engagement surveys, to improve the employee

experience, and developed a new and improved perks and benefits package. The

team also established GiG’s first DEI allyship called GiG Allies, with full training and

certifications achieved by all members.

Whilst we have some way to go to reach our sustainability targets, you will read in

this report that we are constantly improving. Add to this the extensive sustainability

review planned for H2 2023 with Bureau Veritas in collaboration with RSM, GiG

undertaking it’s first ESG rating analysis which benchmarked the organisation overall,

at a fair 47 (50 is good), and our recently attained NASDAQ ESG Transparency

Partner stamp of approval, we can further define, develop and inform the next

stage of our journey to sustainability in 2023/4. We look forward to updating our

stakeholders on our progress in upcoming quarterly and annual reports.

Gemma Edward,

Director of PSS and Sustainability

Foreword

Our strategic

approach to

Sustainability:

Sustainability Report

Annual Report 2022

2022

Highlights

Business goal 2022

Expanded and doubled our

addressable markets.

The acquisition of Sportnco completed April 2022, and an agreement

signed to acquire the casino affiliate websites AskGamblers.com,

Johnslots.com, Newcasinos.com and several smaller domains.

Increased and renewed ISO

certifications.

As well as our recertification for the coveted ISO 27001 for information

security, for all products and services across GiGH’s operations, GiG

was awarded the ISO 20000 certification for the platform after an

extensive review of internal service management system, framework

and practices.

Recognised as Best Casino

Affiliate.

GiG Media was awarded “best casino affiliate” award at the iGB

Affiliate Awards in London.

Partnered with premium Media

organisation.

GiG Media entered into a new commercial partnership with News Corp

UK & Ireland Limited for sports betting and casino content to their

premium media websites The Sun and talkSPORT in Q4 2022.

Signed 20 deals and entered

into new and emerging markets.

Platform and Sportsbook signed a vast array of platform, managed

services, PAM and sportsbook deals with; Betsson, SkyCity, Aspers

UK, Crab Sports, Full Games, Betway, Grupo Boldt (Bplay), Fenibet,

Strike Games, Luckybet, Luckydays and Spinaway, StarCasino

resulting in GiG’s exciting position in emerging, new and existing

markets like Africa, US, Europe, Canada, UK, LATAM and Serbia. The

total number of live brands was 62 at the end of Q4 2022.

US and Canada Expansion.

From being granted authorisation in three States in the US (New

Jersey, IOWA and Pennsylvania), to GiG’s Ontario licence being

granted, and Ben Clemes leading the creation of a North American

hub, GiG’s plans to expand successfully in this territory are well

underway.

Reduced GHG emissions with

office reviews.

Workplace Services team along with support from the office

environment committees comprising representatives from IT, Finance

and People, have successfully subleased 2 levels in GiG Beach, moved

the Marbella office, to reduce emissions and costs, and increase

services and engagement.

Sustainability Report

Annual Report 2022

People goal 2022

Improved employee experience.

Our people deserve a company without bias, who cares and provides

them with the very best service and experience. We reviewed our

most pertinent policies, including Right to Disconnect, Flexi-working

and Health and Well-being, which are industry leading policies,

including best practices. We also continued to work through the

63,000 feedback points and work on a brand new perks and benefits

package which includes Me Time day, Birthday leave, GiG Gives paid

volunteer day, 350 euro Well-being allowance, which can be used for

personal care, clothing, appliances and charity donations, a very broad

spectrum, plus many more initiatives, all to ensure our people felt

supported and catered for in every way.

Implemented Your Voice.

As part of the EU Whistleblower directive, we have provided ‘Your

Voice’ on Hibob which is an anonymous reporting tool that protects

our people and enables them to speak up in a safe and secure

environment. This directive was passed into national law on December

17 2021, for companies with more than 249 people.

Listened to our people.

We sent monthly and quarterly engagement surveys in Media, Group

and Platform in 2022 and extended to Sportnco Group in early

2023, and the first Have Your Say survey in Oct 2021, with an 87%

participation rate, which collected almost 40,000 feedback points to

shape many aspects of our people employee experience throughout

2022, and launched the second Have Your Say survey in March 2023.

The feedback gathered is used to see what is working, what to stop

doing and what we need to improve. In total we collected, compiled

and used 63,000 points of feedback to directly shape and improve the

employee experience throughout 2022.

Improved recognition.

With 22 teams and individuals winning GiGstars of the month and held

our 3rd Annual GiGstars Awards in Dec 2022 with 446 nominations, 28

judges, 24 finalists and 8 winners, where the prizes were focussed on

improving well-being through experiences.

Created new perks and benefits

package.

We want to foster a trusted and rewarding company culture, with

flexibility at its core and attractive benefits to retain our people by

giving the best all round experience from personal development

and progression, remuneration and investment, environment and

accompanying perks. We researched the global employment market

and used the data and feedback from Have Your Say, Stay and

Monthly Engagement surveys to put together a personalised, forward

looking and industry leading benefits and perks package

Protected the planet through

further ESG exploration.

From reducing merchandise, use of couriers, and looking into ways to

decarbonise our operations, multiple teams contributed to offsetting

GiG’s carbon footprint and the reduction of GHG emissions in 2022.