Online gambling technology provider and operator Gaming Innovation Group (GiG) is in full damage-control mode after its Q3 earnings fell by nearly one-half.

On Wednesday, the Stockholm-listed GiG reported revenue of €30.2m in the three months ending September 30, down 19% from the same period last year, while earnings fell 46% to just €2.7m. The company booked a net loss of €8.35m in Q3 versus a €2.6m loss in Q3 2018.

For the year-to-date, GiG’s revenue is off 19% to €93.6m, while its net loss has nearly tripled to €17.35m despite a one-fifth reduction in operating expenses.

While GiG’s B2C revenue was down 17.2% to €20.2m in Q3, its customer-facing earnings hit an all-time high of €2.4m as its primary Rizk gaming brand performed well everywhere except Sweden. GiG shut Rizk’s Swedish-facing online sportsbook in July due to regulatory uncertainty over the legality of certain betting markets.