Gaming Innovation Group (GiG) has raised €4.7m through a direct share issue to Hong Kong-based Hatcher Global, as the Nasdaq First North-listed technology firm looks to strengthen its balance sheet and fast-track product innovation.
The deal, first reported by iGamingExpert, saw GiG issue 8 million new shares in the form of Swedish Depository Receipts (SDRs) at SEK 6.41 (£0.50) per share, matching the company’s closing price on 5 June. The new issuance amounts to a 5.6% dilution, taking the total number of outstanding SDRs to over 136 million.
In a market update, GiG said the proceeds would be used to back ongoing platform development, commercial expansion, and to reinforce its financial footing ahead of what it described as “multiple competitive opportunities.”
“This share issue reflects a timely move aligned with increased trading activity. The capital injection will support our pursuit of new growth avenues and enhance our financial flexibility,” the board noted.
GiG opted for a direct placement over a wider rights issue, citing speed, lower transaction costs, and the strategic value of onboarding Hatcher Global as a long-term shareholder.
The fundraising follows a strong end to 2024, with GiG Software – now operating as a standalone business – closing €16m in new contracts in Q4. These included a key renewal with Betsson AB and six new client wins, driving annual recurring revenue up 34% to €33m.
For the current year, GiG is forecasting €44m in revenue and adjusted EBITDA of at least €10m. Management confirmed that the new capital will accelerate the rollout of several flagship products, including SweepX, its upcoming social sweepstakes casino platform, and enhancements across its CoreX platform, SportX sportsbook, and AI-led LogicX and DataX suites.
Leadership said the investment strengthens GiG’s capacity to compete for larger enterprise contracts while maintaining momentum across its modular tech stack.
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