Gaming Innovation Group (GiG) has raised €4.7m through a direct share issue to Hong Kong-based investor Hatcher Global, as the technology group looks to boost its financial position and accelerate growth.
The deal saw 8m new shares issued in the form of Swedish Depository Receipts (SDRs), priced at SEK 6.41 in line with GiG’s market close on Nasdaq First North on 5 June.
It’s a transaction represents a 5.6 per cent dilution, increasing GiG’s total SDRs to over 136 million. Proceeds from the share issue will be used to strengthen the company’s balance sheet, support new commercial opportunities, and fund ongoing development projects.
As detailed to investors: “The Board believes the Share Issue is both appropriate and timely, reflecting the recent increase in trading volumes and positioning the Company for its next phase of growth. The additional capital will enhance the Company’s balance sheet, strengthening its financial position at a time when it is actively engaged in multiple competitive processes presenting new business opportunities.”
GiG said the decision to carry out a targeted issue, rather than a broader rights offering, allows the company to move faster, reduce transaction costs, and add a strategic investor to its register.
The capital raise comes on the back of a strong commercial close to 2024. GiG Software – operating as a standalone entity – secured €16 million in new contract value in Q4, including a key renewal with Betsson AB and six new client agreements
The deals helped lift Annual Recurring Revenue by 34%t o €33 million, supporting the company’s full-year guidance for €44 million in revenue and at least €10 million in adjusted EBITDA for 2025.
GiG plans to use the additional funding to further enhance its product portfolio. This includes the upcoming launch of SweepX, a new social sweepstakes casino platform, and continued upgrades to its CoreX platform, SportX sportsbook, and AI-led LogicX and DataX tools.
Leadership views the investment positions needed to compete for new business and meet the requirements of larger enterprise clients.
