Gaming Innovation Group extends contract with Betsson Group
Gaming Innovation Group Inc. (GiG) has today signed an extension to the long-term agreement with Betsson Group for the provision of Platform & Managed Services, which include Customer Service and full business operations across multiple territories. The contract extension is for an additional three years taking the term of the contract to Q4 2025. The agreement includes the brands Rizk, Guts, Kaboo and Thrills, and includes managed services to Betsson for support of operations of the brands.
GiG will also deliver several new growth market entries as part of the agreement, which is a testament to our ability to take tier one brands into multiple regulated jurisdictions outside of their core markets.
Richard Brown, GiG CEO says; "We are extremely pleased to extend our partnership with Betsson Group for the coming years. It has been a key internal target as part of our transition into a pure B2B focus over the last 18 months. The partnership will support and help to drive the two businesses' growth in existing and new markets, increasing the diversification and market opportunities for both Betsson and GiG."
Andrew Valenzia, Zecure Gaming Commercial Director says; "We are delighted to have extended our agreement with GiG for an additional period of three years. As a platform provider, GiG will be a key part of our road map for growth, and I am very confident in their ability to fuel our development in new and existing markets."
In connection with the sale of its B2C business in April 2020, GiG entered into an agreement with Betsson for the provision of GiG's iGaming platform technologies to power these brands for a period of 30 months. The agreement is based on a revenue share model and the contract term is now extended until October 2025.
Betsson, listed at Nasdaq Stockholm, is one of the most dominant European companies in online gambling with a long and strong track record of brand building, both organically and via acquisitions. It offers online casino, proprietary sportsbook and other online games in a multi-brand strategy via gaming licences in more than twelve countries globally.
Gaming Innovation Group sees a great opportunity to be fast and agile with the aim to have its platform certified in a large and diverse number of locally regulated markets. With state-of-the-art technology and product offerings, GiG targets to be able to take strong international and local brands online in these growth markets.
Richard Brown, CEO, [email protected], +34 661599025
Tore Formo, Group CFO, [email protected], +47 91668678
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry-leading platform and media provider delivering world-class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
About Betsson AB
Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, and with local adaptations. Betsson AB is listed on Nasdaq Stockholm Large Cap (BETS).