GiG Software has said recent UK tax changes are creating expansion opportunities, as the supplier moved to strengthen its position in the market despite reporting flat Q1 2026 revenue and a sharp decline in EBITDA.
In its Q1 financial report, GiG said increases to remote gaming duty had “caused a dislocation in the market”, opening the door for well-capitalised brands seeking to expand.
The company added that it had increased its exposure to the UK through new agreements that will lead to launches later this year.
GiG pointed to its recently announced platform and sportsbook migration partnership with Jupiter Gaming as part of efforts to deepen its UK footprint.
Remote gaming duty jumped from 21% to 40% on 1 April. General betting duty is due to climb from 15% to 25% next April.
Inspired Entertainment CEO Brooks Pierce struck a similar tone in the firm’s Q1 announcement, stating the UK tax rises represented an opportunity for the game supplier, while rivals were “retrenching”.
The update came as GiG Software reported flat year-on-year (YoY) revenue growth for Q1 2026 with a 50% drop in EBITDA for the same period.
Revenue for Q1 reached €9m (£7.8m) in Q1 2026 versus €9.1m in Q1 2025, while adjusted EBITDA amounted to €200,000 compared to last year’s €400,000.
The supplier also reported an operating loss of €5m for the quarter, while the figure for Q1 2025 was €4.4m. The cash position was quoted as €5.4m.
As part of the supplier’s AI push and headcount reduction during the quarter, GiG is expecting to secure €4.5m annualised cost savings “alongside continued progress against broader strategic priorities”.
GiG reiterated its 2026 guidance of €44m to €48m in revenue and €10m to €13m in adjusted EBITDA.
The supplier’s stock was down 11.3% at the time of writing to SEK2.12. The share price has fallen more than 63% in the past 12 months.
Richard Carter, GiG CEO, commented: “GiG has made a solid start to the year, further strengthening our operational base for the remainder of 2026.
“We are collectively excited by the growth in our core business, alongside new launches and additional commercial agreements with new and existing customers.
“We have now created a robust operational framework, closely aligned with strong cost control, founded on an AI-first approach designed to deliver underlying cash flow generation whilst enabling long term, sustainable profit growth as revenue growth accelerates from the second half of this year.”
Since the end of Q1, long-term GiG partner LuckyDays was revealed to be preparing for Alberta market entry, where the supplier has been approved for a licence.
GiG has seen two C-suite departures this year. Chief business officer Andrew Cochrane left for Soft2Bet in January, and chief technology officer Jeremy Bowskill exited earlier this month.
The post GiG Software reveals UK expansion plans as it reports flat Q1 first appeared on EGR Intel.
Supplier says remote gaming duty hike has “caused a dislocation in the market” creating opportunities, with revenue growth expected to accelerate in second half of the year
The post GiG Software reveals UK expansion plans as it reports flat Q1 first appeared on EGR Intel.