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Gaming Innovation Q1 loss widens 22.7% YOY

Gaming Innovation Group Inc. said its normalized net income for the first quarter came to a loss of €208,390, compared with a loss of €169,790 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 8.2% from negative 5.8% in the year-earlier period.

Total revenue rose year over year to €7.9 million from €2.9 million, and total operating expenses increased on an annual basis to €8.1 million from €3.2 million.

Reported net income totaled a loss of €333,430, or a loss of 0 cents per share, compared to a loss of €271,680, or a loss of 0 cents per share, in the prior-year period.