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Gaming Innovation Group: An in-between quarter, but on the same path - SEB

We forecast the strong development in the media segment to have continued with total revenue growth of 52%, including AskGamblers. GIG media comes from a very strong 2022 and with AskGamblers in the mix we see continued room for growth and margin improvement. We make minor downward revisions on 2023E but keep our long-term forecast unchanged. We keep our mid-point of SEK 41 based on our SOTP valuation.

We forecast the strong development in the media segment to have continued with total revenue growth of 52%, including AskGamblers. GIG media comes from a very strong 2022 and with AskGamblers in the mix we see continued room for growth and margin improvement. We make minor downward revisions on 2023E but keep our long-term forecast unchanged. We keep our mid-point of SEK 41 based on our SOTP valuation.
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