GiG enters Swiss market after partnering with unnamed operator
Gaming Innovation Group (GiG) have announced a partnership deal with a licensed gambling operator in Switzerland. The identity of the operator has not been disclosed by GiG. However, this deal sees one of the renowned sportsbook and iGaming service providers enter the Swiss gambling market. The announcement came only a day after GiG completed the acquisition of several casino affiliate websites.
This deal represents just one of a few that GiG have announced this week. ©Mediensturmer/Unsplash
GiG’s entry into the Swiss Gambling Market was made possible after they agreed to partner up with a licensed operator in Switzerland. No further information was disclosed about the operator that is said to offer digital and land-based casino services in the country. The operator holds a gambling license issued to it by the Swiss Gambling Supervisory Authority (GESPA). The partnership deal between GiG and the unnamed casino will see the former provide the latter with a state-of-the-art iGaming platform, improving the overall digital experience for the operator and players.
The award-winning Player Account Management Platform (PAM) is one of the eight functionalities provided by GiG. According to the projections of GiG, the gambling market of Switzerland will experience rapid growth and mark a significant spike this year. To keep up with this growth, GiG is ready to provide the necessary solutions. The PAM has been licensed by the Malta Gaming Authority (MGA) and the United Kingdom Gambling Commission (UKGC). GiG provides its innovation to several operators globally under a Casino Services Industry Enterprise (CSIE) license. This Division of Gaming Enforcement (DGE), based in New Jersey, issued this license.
The duration of the aforementioned partnership between GiG and the casino operator is five years. After expiration, the deal can be renewed and extended. According to GiG’s projection, the deal will go live in the first quarter of 2024. As the innovator and service provider enters another country in Europe, its expansion across the continent gets more evident. The Chief Executive Officer of the GiG, Richard Brown, confirmed GiG’s entry into the Swiss Gambling Market.
“Given the expanding scope of opportunity for operators in the region, we’re delighted to be entering the Swiss market in partnership with an established land-based brand. Our considerable experience at delivering robust and innovative solutions to retail organisations in highly complex regulated business, continues to help our reputation as a provider of choice.”
GiG acquires AskGamblers and other casino affiliate sites
Just a day before announcing its arrival in Switzerland, GiG completed the acquisition of multiple casino affiliate websites from Catena Media. The domains included Askgamblers.com, Newcasinos.com, Johnslots.com and a few more. The takeover was announced in December 2022 and was officially completed on January 31, 2023. The newly acquired domains will now be consolidated by GiG.
Amongst all the acquired domains, GiG seemed most enthusiastic about AskGamblers. The operator will look into the commercial and operational opportunities of this domain. As the GiG team works on upgrading the renowned platform, the transactions have been halted. The operator intends to focus on every aspect surrounding the site, from its interface to its Search Engine Optimisation (SEO).
GiG intends to implement its up-to-date tech in Ask Gamblers and maximise profits whilst contributing to its substantial growth. This will ultimately help Askgamblers.com generate an increased revenue and EBITDA soon. According to CEO Brown, the acquisition will bring in revenue diversity and bring down the risks in operation.
The entire acquisition cost of this acquisition was €45 million. GiG have already paid €20 million on the day the deal was announced. The remaining amount has been split into two installments. The first installment will be worth €10 million and will be due on January 31, 2024. The second and final installment will be worth €15 million and must be paid on January 31, 2025.
Other GiG deals in recent times
A few days before the aforementioned announcements, GiG and JOY Enterprise signed a five-year deal for the latter’s brand Playr.bet in South America. Just like GiG’s deal in Switzerland, JOY Enterprise has hopped on board to gain access to the PAM and improve its digital casino experience.
In April 2022, GiG acquired Sportnco for about €51 million. The deal saw another name pop up on GiG’s portfolio, while Sportnco got to retain its long-term loans of a little over €18.63 million. Its shareholders were entitled to a performance-based earn-out for two years.
A month later, the GiG struck a deal with casino affiliate network company, Rainmaker. The entity was in need of a competent compliance tool when it came across GiG’s Comply. The Cyprus-based company jumped on board, eagerly anticipating the utilisation of the service provider’s automated compliance tool.
