- Legal States
Angel Hristov January 11, 2023 3 min read
GiG Negotiates a Deal with a Major Swiss Company
Gaming Innovation Group plans to make a foray into Switzerland through a deal with a major local company
Gaming Innovation Group (GiG), announced that it has signed a Head of Terms agreement with an “established land-based and digital casino operator in Switzerland.“ According to the iGaming supplier, it is to provide its critically-acclaimed account management platform (PAM) to its new partner.
GiG to Work with a Big Swiss Company
GiG emphasized that this agreement would mark its first foray into the Swiss iGaming sector. As a company that is experienced in producing cutting-edge gaming tech for complex regulated jurisdictions, GiG is delighted to open 2023 with news concerning a potential launch in a new market.
The company pointed out that this echoes the way in which it started 2022 when operators from all over the world expressed interest in its tech products.
GiG was founded in 2008 and has grown to be one of the leading providers of technology. This is all thanks to the provider’s innovative and proprietary products, which are now being used by operators in 29 markets. Currently, GiG is working to launch with partners in 7 additional regulated jurisdictions. Thus, the provider has a huge footprint, which fuels it with the experience it needs to keep on enhancing its products.
The Swiss online market, which launched in 2019, is still a largely untapped sector that is nevertheless very attractive to operators. Local retail operators are now looking to explore the opportunities the online market has to offer, making GiG’s entry into the country a timely one.
Gambling in Switzerland is regulated by the Swiss Federal Gaming Board, which currently has 11 iGaming licensees. GiG noted that, according to experts, online gambling in the country is expected to yield as much as $430 million in gross gaming revenue by 2024.
Entering Switzerland Is a Milestone for GiG
Gaming Innovation Group didn’t specify the operator it struck a deal with in its official release but said that the full deal should be signed somewhere in Q1 2023. The agreement is expected to go live a year later, sometime in Q1 2024.
GiG also noted that the agreement is planned as a five-year deal with options to extend it by more years at a later date.
Richard Brown, the chief executive officer of Gaming Innovation Group, said that the agreement with a notable company in Switzerland has long been one of GiG’s goals.
Partnering with an established and well-regarded retail partner in the Swiss market has long been a goal of ours, and this opportunity will allow us to showcase our market leading technology in another highly-regulated but growing market.Richard Brown, CEO, GiG
In other news, GiG just parted ways with director Michael Ahearne who left the board to focus on his job as CEO of SkyCity Entertainment Group.
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Business January 11, 2023