Gaming Innovation Group (GiG), a leading technology supplier for the online gaming industry, announced Thursday it signed a letter of intent with an unnamed German-facing iGaming operator to provide the backend technology for the operator’s new online casino.
4-Year Shared Revenues Partnership
The new online casino of the established gaming operator is expected to go live in the third quarter of 2021, and the agreement with GiG is for a minimum of 4 years. Both parties agreed to utilize a revenue share model for the business vertical.
GiG did not specify the name of the German facing iGaming operator, providing only a few details regarding its new partner. The company is a privately owned one, run by a management team boasting significant experience in online casino and success record with several online casino brands. The operator is also among the group of companies which were first granted local license in Schweswig-Holstein.
“Our new partner has a team of proven, industry veterans driving its business, who currently operate several successful brands facing multiple markets. It’s fantastic that they have chosen our platform for their new, German facing casino brand.”Richard Brown, CEO, GiG
Under MGA License
The new online casino partnership is expected to start contributing to revenues at GiG during the second half of 2021. The pair will operate under a license from the Malta Gaming Authority (MGA), with the clear intention to obtain a German license as soon as it becomes available.
“We are pleased to provide our GiG Core platform to them in advance of the German regulations, which complements our current offering to other noteworthy brands. We are very much looking forward to a long-term and successful relationship with our new partner.”Richard Brown, CEO, GiG
The unnamed German facing iGaming operator is the second online casino partner for GiG with which the gaming technology supplier entered into an agreement in February alone.
Earlier in the month, GiG teamed with PlayStar for its upcoming online casino in New Jersey to become the official backend technology supplier for the brand. Besides the upcoming debut in the online casino space for the operator in the Garden State, both parties agreed to expand the agreement to other states at a later stage.
Besides providing technology to power iGaming brands, GiG’s efforts recently were focused on expanding its GiG Comply portfolio of clients, striking deals with Avento Group, LeoVegas and Rootz in December and with Bet365 earlier in February.