INNOVA Gaming Group announces Q3 Financial Results

“During Q3, we generated solid Adjusted EBITDA and Adjusted EPS growth as units deployed over the past year ramped to a higher level of ARPU,” said Richard Weil, Chairman and CEO of INNOVA. “Our participation in NASPL this year generated strong interest from several potential customers and we look forward to continuing to grow into new jurisdictions over time.” Mr. Weil added, “I’d like to take this opportunity to thank Jim Breslo for playing a role in Diamond Game’s transition to public company ownership over the past year and a half. Jim has announced that after 16 years with Diamond Game he will be leaving the Company to pursue other opportunities. He will remain a Director of INNOVA and we wish him all the best in the next phase of his career. I will be assuming the role of President at Diamond Game and look forward to continuing to work with the strong team we have assembled.”

Q3-2016 Conference Call Details

Date: November 10, 2016 | Time: 10:00am EST
Participant Dial-in: 647-427-7450 or 1-888-231-8191
Webcast: http://bit.ly/2dGiEaZ

Replay (available for 2 weeks)
Participant Dial-in: 416-849-0833 or 1-855-859-2056
Reference Number: 8549772

Investor Presentation – Q2-2016

 

Click here to download.

INNOVA GAMING GROUP ANNOUNCES Q3 FINANCIAL RESULTS

Revenue $5.6 million; Adjusted EBITDA $1.4 million; 52 net LT-3 deployments

LOS ANGELES, CALIFORNIA November 10, 2016 – INNOVA Gaming Group Inc. (“INNOVA” or the “Company“) (TSX: IGG), today announced financial results for the three and nine months ended September 30, 2016. All figures in this press release are in U.S. dollars, unless otherwise noted.

Highlights – Operations

  • Deployed 52 net new LT-3 ticket dispensers (“LT-3“) in Q3-2016 and 197 net LT-3’s in the nine months to September 30th. 2,074 LT-3’s are currently deployed, which is consistent with the number deployed at the end of Q3.
  • Diamond Game participated in the North American State and Provincial Lottery (“NASPL”) Conference, which took place October 4-6 in Atlanta, Georgia. At NASPL, Diamond Game demonstrated the unique play of each of its installed LT-3 units to prospective customers and unveiled NexPlay™—a new suite of innovative lottery products. The NexPlay™ system is designed to integrate with the major providers of online lottery systems to enable the sale and display of traditional draw games. Diamond Game received positive feedback from potential customers following NASPL and is currently in discussions with a number of jurisdictions to install LT-3 units, as a result.

Highlights – Financials

  • Revenue in Q3-2016 of $5.6 million, compared to $5.3 million in Q3-2015
  • Average LT-3 WPU2 (win-per-unit) and ARPU3 (average revenue per unit) of $142 and $29, respectively
  • Adjusted EBITDA1 of $1.4 million in Q3-2016, compared to $0.9 million in Q3-2015
  • Adjusted EPS4 of $0.04 in Q3-2016, compared to $0.01 in Q3-2015

“During Q3, we generated solid Adjusted EBITDA and Adjusted EPS growth as units deployed over the past year ramped to a higher level of ARPU,” said Richard Weil, Chairman and CEO of INNOVA. “While the LT-3 sales process can take time, once installed, the units generate strong recurring revenue that benefits INNOVA, lotteries and the charities they support. Our participation in NASPL this year generated strong interest from several potential customers and we look forward to continuing to grow into new jurisdictions over time.”

Mr. Weil added, “I’d like to take this opportunity to thank Jim Breslo for playing a role in Diamond Game’s transition to public company ownership over the past year and a half. Jim has announced that after 16 years with Diamond Game he will be leaving the Company to pursue other opportunities. He will remain a Director of INNOVA and we wish him all the best in the next phase of his career. I will be assuming the role of President at Diamond Game and look forward to continuing to work with the strong team we have assembled.”

>http://www.innovagaminggroup.com/2016/11/10/innova-gaming-group-announces-q3-financial-results-2/




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