Fast-growing affiliate business QiH Group has posted 59% year-on-year increases in revenue to £20.59m and of EBITDA to £4.85m in the year to 30 September 2024.
QiH, which generates the bulk of its revenue from driving player traffic to UK brands via portals such as Freespinswizard, Freeslotsgenie and Slotswise, entered 120 strategic partnerships and grew FTDs by 43% versus FY23.
FY revenue was boosted by an acceleration in the final quarter from July to September 2024, with QiH achieving a 73% uplift to £6.33m with EBITDA up 90% to £1.43m and FTDs by 49% compared to 4Q23.
CEO Jamie Walters (pictured) credited the group’s commitment to innovation and customer satisfaction for the performance. “Strategic enhancements to our in-house tech, growing the business rapidly and appointing the absolute best people to our C-level team has clearly paid off”.
The affiliate, which also runs three Aspire Global-powered white label casinos, grew headcount by 16% in Q4 2024 and 15% for FY 2024, with most of the expansion occurring within its London HQ.
In a recent interview with iGBA, CMO David Murphy revealed QiH’s goal to near-triple its current 70-strong workforce over the next 12 months.
CEO Walters recently completed the building of his C-suite team with the hire of CFO Simon Winder from Racing Post owner Spotlight Sports to join COO Andrew Lee, CTO Sachin Saxena and the aforementioned Murphy.
QiH entered sports betting for the first time in August 2024 with the launch of Podium Bets. The vertical is projected to deliver up to 15% of revenue in FY25. It also launched US-facing division Wizard Interactive in the period.