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GiG Signed Head of Terms with a Land-Based Operator in Ontario

GiG Signed Head of Terms with a Land-Based Operator in Ontario

Provider of platforms and media solutions for the iGaming industry, Gaming Innovation Group (GiG), announced that it had reached a comprehensive agreement with an Ontario-based land-based operator.

About Gaming Innovation Group:

Gaming Innovation Group is a leading iGaming technology company providing solutions, products, and services for iGaming operators. Founded in 2012, Gaming Innovation Group’s vision is: “To be the industry-leading platform, sportsbook, and media provider, providing best-in-class solutions to our gaming partners and their customers.” GiG’s mission is to drive our Partners’ sustainable growth and profitability to drive forward through product innovation, scalable technology, and quality of service symbol GIG and listed on Nasdaq Stockholm under the ticker GIGSEK.

Expanding Footprint in Ontario

The Ontario anonymous ground operator agreement principle allows GiG to provide its award-winning platform, sportsbook, and omnichannel solutions in the Canadian province. Ben Clemes, General Manager of GiG North America, commented on the announcement and expressed his excitement at working with an Ontario-based ground operator. Clemens said that operator GiG’s terrestrial presence would provide the “opportunity to demonstrate the power” of its proven omnichannel solution and “full catalog of products,” including casino, sports, and its front-end solution. The operator expects to sign a complete partnership agreement in the coming months and plans to begin operations under the partnership in the first half of 2023. At the forefront of the contract terms is the recent development. Development of GiG in Ontario as more operators chose the company’s products and services to strengthen their brand in the province, drawn to GiG’s leading technology and flexible architecture.

Following the operator license granted to GiG by the Alcohol and Gaming Commission of Ontario (AGCO) in July, GiG is already up and running with two operators, the last of which was online casino brand SpinAway with one before the third. The other was the LuckyDays brand, operated by L7 Entertainment, a company that partnered with GiG for a launch in Sweden earlier this year.

Market Gaining Traction

Since its inception in April this year, the Ontario gaming market has continued attracting more operators. It is expected to grow to over $2 billion in gross gaming revenue over the next three years, according to H2 Gambling Data. In October, iGaming Ontario released market data for the second quarter showing that the market grew by nearly C$2 billion ($1.48 billion), a 48% increase. Excluding promotional bets, Ontario operators booked CA$6.04 ($4).

46 billion) billion in total bets in the quarter. The number of operators increased from 18 in Q1 to 24 in Q2, and gaming sites increased from 31 to 42, active player accounts grew 27.6% to 628,000, and the average player fee spent per account increased from CAD 113 (83 .48) in the first quarter

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