Gaming Innovation Group (GiG), one of the world’s most prominent software solution providers for online casinos and sports betting websites, has announced that its global footprint has further expanded following the signing of two new partnership agreements in Spain and Argentina.

The first partnership was the one signed with Juegging, a major operator in the Spanish market who owns land-based venues, an online casino, and a sports betting website. The operator decided to migrate onto X-Suite, the turnkey management platform that GiG offers to its customers.

This will allow Juegging to revamp its sports betting offering while expanding the number of payment methods available. Moreover, the online casino and sports betting operator will be able to offer content from more providers since the GiG platform comes with plenty of games from several international suppliers.

The Spanish market is a very important one for Gaming Innovation Group because it is expected to generate almost 2 billion euros in gross gaming revenues per year by the end of the next three-year cycle.

Big Deal in Argentina

The CoreX platform developed by Gaming Innovation Group is set to make its grand entrance into the Argentine market through a new partnership with SIGAR S.A., a local operator of land-based casinos and slot halls.

GiG has become a very powerful presence in the Argentine market as it has partnerships in place with brands operated in the seven regulated provinces of the country. In 2021 the company marked a crucial moment when it received approval to operate in Buenos Aires from LOTBA, the gambling regulator of the City of Buenos Aires.

SIGAR S.A. is planning to expand its business online and that is why it entered the partnership with GiG as the software provider has plenty of experience when it comes to taking land-based casino operators into the online world. In fact, GiG has signed multiple such partnerships in recent years both in Latin America and in Europe.

The market in Latin America is a very lucrative one as well, it is expected to generate over 3.7 billion dollars in revenue next year according to data supplied by Statista.

Gaming Innovation Group was founded in 2012 and since then has developed into a powerful brand, recognized anywhere in the world. The company operates out of Malta and is listed both on the Oslo Stock Exchange and on Nasdaq Stockholm.

Source: “GiG bags a brace of deals for Spain and Argentina, with two new partners for its iGaming platform CoreX and Sportsbook, SportX“. GiG. March 21, 2024.

The post GiG Secures New Partnerships in Spain and Argentina appeared first on Keno Wizard.

Gaming Innovation Group, the industry-leading platform and media provider, has extended its deal with Casumo, one of its long-term partners. Under the extended agreement, GiG will continue to provide the online operator with its robust iGaming platform.

According to the announcement, GiG will now continue to provide Casumo with its platform until 2027. The expanded deal will also see GiG inject its innovative new suite of solutions into Casumo, providing its Dunder brand with many opportunities to grow and evolve.

The operator will benefit from GiG’s enhanced new frontend and marketing managed services, which include its customer relations management, search engine optimization, affiliate management and casino lobby tools.

The Dunder brand will leverage GiG’s advanced AI-led capabilities to reinforce its decision-making abilities and secure access to intelligent data insights. Thanks to the agreement, the operator will be able to bolster its acquisition and retention rates, allowing it to expand its overall footprint.

In the meantime, the Dunder brand will continue to rely on GiG’s cutting-edge account and commercial support. The latter company’s profound experience in the sector will help Casumo’s brand scale up its business and operations across many core markets.  

Last month, GiG unveiled next-gen iGaming and sportsbook solutions, further growing interest in its solutions. The announcement was made just in time for ICE 2024, allowing the GiG team to capitalize on the prestigious industry event.

GiG Looks Forward to Bolstering the Dunder Brand

GiG’s chief business officer, Andrew Cochrane, welcomed the expansion of the deal with Casumo, thanking the operator company for its trust. He added that his team expects a lot from its partner’s Dunder brand and is looking forward to providing it with cutting-edge tools.

Our anticipation and expectation for the brand are understandably high, aligning perfectly with our mission to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service.

Andrew Cochrane, CBO, GiG

Tim De Borle, Casumo’s chief operating officer, also commented on the matter, praising the partnership and the opportunities it has provided to the Dunder brand.

Through our continued and strengthening partnership with GiG, we are looking forward to taking full advantage of the opportunities we see for Dunder, having been impressed with the commitment to service management and innovative product development from the team at GiG.

Tim De Borle, COO, Casumo

Speaking of Casumo, the operator recently enhanced its RG and AML capabilities through a deal with Neccton.

The post GiG Extends iGaming Platform Deal with Casumo appeared first on Keno Wizard.

Leading iGaming technology company that provides solutions, products, and services to iGaming operators, Gaming Innovation Group (GiG), has appointed Ryan Collinge as the new senior vice president of business development for Platform and Sportsbook.

The news comes in the context of the company’s ongoing efforts to improve its commercial expertise and expand the reach of its fresh and revolutionary X-Suite Platform CoreX, Sportsbook SportX, and Artificial Intelligence-led features DataX and LogicX. 

The state-of-the-art technology leverages the latest in AI and data-based solutions while aiming to provide safe end-to-end features focused on users that are prone to maximize growth opportunities for operators.

Flawless Reputation as a Senior Figure 

Blueprint Gaming and Gauselmann Group’s ex-director has built a flawless reputation in the industry, becoming an easily recognizable senior figure over the course of over two decades of experience. 

GiG anticipates customer relations expert Collinge will transfer his wealth of commercial success onto them, after spending the past seven years playing a critical role in delivering contracts valued at millions of Euro for Blueprint Gaming and the Gauselmann group online and in the retail world.

Collinge significantly grew his reputation after he helped initiate an MBO of Playnation with Palatine PE prior to exiting the investment to Austria-based strategic buyer Novomatic nine years ago, in 2015. 

From his new position of senior vice president of business development for Platform and Sportsbook, Collinge is expected to assist GiG’s highly ambitious strategic commercial initiatives, as highlighted by chief business officer Andrew Cochrane. 

Using a smart combination of excellent products, the highest levels of service in the industry, and the brightest and best talent in the industry, GiG plans to strengthen its leading position while extending its worldwide footprint and fostering sustained growth. 

GiG will attend the much-anticipated ICE London 2024 held between February 6-8 where it will showcase its complete X-Suite product range on Stand N9-140 at ExCel London.

Commenting on his appointment, Collinge described the opportunity to join GiG as “too exciting” to pass up, in the context of the giant growth potential of the business. 

He also expressed his excitement regarding the new X-Suite of products and GiG’s plans for the future, adding they will join ICE and walk into the new year “full of ambition and anticipation for what we can achieve together.”

“Another Fantastic Addition” to the Senior Team 

Chief executive officer for Platform and Sportsbook at GiG, Richard Carter, spoke about the excellent hires that they have made over the past few months, calling Collinge “another fantastic addition” to their senior team. 

Carter added the new SVP’s appointment “will further help propel GiG forward to significantly scale revenue and acquire accomplished new partners.”

The CEO also praised Collinge’s exquisite reputation and solid background in the iGaming world while expressing certainty regarding the way his “high-level knowledge of the industry and strategic approach” will prove to be invaluable assets to the company during the fast growth period. 

At the same time, the chief business officer for Platform and Sportsbook at GiG, Andrew Cochrane, described Collinge’s arrival as one that will provide “a fantastic boost” to their efforts to develop the business in the context of the important escalation in interest across all verticals since the successful launch of the X-Suite. 

Cochrane also acknowledged Collinge’s expertise and proven track record at attracting commercial successes which he called “undeniably impressive,” explaining his appointment will reaffirm their capacity to attract some of the best talents in the industry.

In December, GiG completed a deal with KaFe Rocks as part of its plans to conquer the casino affiliate sector.

The post GiG Appoints Ryan Collinge as SVP of Business Development appeared first on Keno Wizard.

Leading iGaming tech company Gaming Innovation Group (GiG) has announced the completion of its acquisition of KaFe Rocks, a major online casino affiliate. The announcement was first announced in November and saw the tech giant acquire the affiliate in a EUR 35 million deal.

According to GiG, the new acquisition will position its proprietary media division, GiG Media, as the leading iGaming affiliation brand. The move will also cement GiG’s position in the key North American market, the company added.

As previously announced GiG will pay a total of EUR 35 million (roughly $38.5 million current rates) for the acquisition. This includes an upfront cash payment of EUR 15 million (16.5 million), followed by semi-annual payments totaling EUR 20 million ($22 million). GiG may also issue EUR 2.5 million ($2.75 million) in own shares to the sellers in Q1 2024.

KaFe Rocks’ assets are consolidated as of December 21, 2023.

The Deal Is in Line with the Company’s Overall Strategy

The acquisition of Kafe Rocks follows GiG’s takeover of AskGamblers, previously owned by Catena Media.

The growing affiliate strength of GiG Media positions it to drive KaFe Rocks’ growth, allowing it to expand substantially. GiG also believes that the natural synergies with KaFe Rocks will allow the latter brand to secure revenue of $25 million, as well as an EBITDA margin of over 45%.

The acquisition of KaFe Rocks is also in line with GiG Media’s business diversification efforts. Diversification remains an important strategic goal for the company, which seeks to solidify its business by having a wide customer base, multiple websites and businesses in many key jurisdictions.

Jonas Warner, Gaming Innovation Group’s group chief executive officer, commented on the completed deal, expressing his satisfaction with the new acquisition. He said that the transaction is in line with the company’s goal to maintain its leadership position in the world of casino affiliation and expand GiG’s presence across the lucrative North American market.

The inclusion of KaFe Rocks aligns perfectly with these objectives. We’ve identified a thriving business led by an exceptionally skilled team. We eagerly anticipate integrating KaFe Rocks into the GiG family, unlocking additional business value to benefit our partners and investors.

Jonas Warner, group CEO, GiG

In other news, GiG just completed the issuing of an $81 million senior secured bond issue. Shortly after, the company announced the appointment of Matthew Saxon as its new chief technology officer.

The post GiG Completes KaFe Rocks Deal, Sets Out to Conquer the Casino Affiliate Sector appeared first on Keno Wizard.

Gaming Innovation Group, a company offering cloud-based product and platform services and performance marketing to clients within the iGaming industry, has announced the completion of its latest bond issue.

According to the company’s official announcement, it has successfully completed the issuance of 3-year EUR 75 million ($81 million) equivalent senior secured bonds. The bonds are split in a EUR 45 million ($48.5 million) and a SEK 350 million ($33.5 million) tranche and have a combined borrowing limit of EUR 100 million equivalent.

As noted by the company, the proceeds of this issuance will be used to call the company’s outstanding SEK 550 million bond in full. In addition, the money will help GiG fund its acquisition of KaFe Rocks. The money will also contribute to the company’s general corporate purposes.

GiG added that a call notice for the existing SEK 550 million bond will be sent shortly. In the meantime, GiG will apply for its new bond to appear on the Nasdaq Stockholm and Frankfurt Stock Exchange Market.

GiG also pointed out that its new bond has been well received among its investors in multiple regions, including the Nordics, Continental Europe and the United States. The company mentioned that both existing and new investors participated in the placement of the transaction.

Finally, GiG mentioned that ABG Sundal Collier and Pareto Securities acted as joint managers and bookrunners for the placement of the new bond issue.

Other GiG Developments

A month ago, GiG set out to acquire KaFe Rocks in a new EUR 35 million (approximately $37.4 million) acquisition deal. The deal is in line with the former party’s goal to become a leading generator in the iGaming market and expand its presence across the NA region.

Around the same time, GiG also published its Q3 results, reporting impressive momentum and growth across multiple metrics. The company’s quarterly revenue reached an all-time high of €31.8 million ($33.92 million), reflecting an impressive 39% year-on-year growth.

In early November, GiG also agreed to integrate the leading Jackpot Management System provided by Jooba Tech into its platform, allowing it to better serve its global network of iGaming operators.

The post GiG Announces the Completion of $81M Senior Secured Bond Issue appeared first on Keno Wizard.

Gaming Innovation Group (GiG) has set out to acquire affiliate specialist KaFe Rocks in a new EUR 35 million (approximately $37.4 million) acquisition deal. The deal will solidify GiG Media’s position as a lead generator in the iGaming market and will expand the company’s presence in the lucrative North American casino sector.

Under the agreement, GiG will pay EUR 15 million in cash once it closes the deal. The rest of the money will be paid out in four semi-annual installments over the next two years. The latter payments will depend on certain performance targets. GiG will also pay EUR 2.5 million in shares subject to specific operational cost-saving targets.

KaFe Rocks is a major iGaming affiliate with a portfolio spanning over 15 markets. The company is behind Time2play.com and USCasinos.com, two US-oriented affiliate brands. Time2Play has been demonstrating spectacular growth, making it a valuable asset for GiG.

GiG Media remains committed to growing the acquired assets and maximizing their profitability. KaFe Rocks is expected to generate revenue of EUR 23 million in 2024 with an EBITDA margin of over 45%.

The acquisition is expected to close in December 2023 and is still subject to regulatory approvals.  

A Momentous Occasion for KaFe Rocks

Aimee Speight, a KaFe Rocks spokesperson, commented on the agreement, calling it a “momentous occasion.” He said that his team considered several buyers but was eventually persuaded to pick GiG Media because of its impressive performance.

For reference, GiG has continued to post record-breaking results for 12 quarters in a row. Speight added:

Joining GiG Media, we are optimistic about seeing Kafe Rocks business venturing into new heights.

Aimee Speight, spokesperson, KaFe Rocks

Jonas Warrer, GiG’s newly appointed chief executive officer, also commented on the agreement, expressing his desire to cement GiG as the leading casino affiliate in the industry. He said that the acquisition of KaFe Rocks “validates these goals.”

In KaFe Rocks, we’ve found a flourishing business led by an exceptionally skilled team. Their reputable affiliate assets will undoubtedly drive growth for the broader group. I eagerly await working closely with the KaFe Rocks team.

Jonas Warrer, CEO, GiG

In other news, GiG just published its Q3 results, reporting another quarter of robust revenue growth across core verticals.

The post GiG Sets Out to Acquire KaFe Rocks in a $37M Deal appeared first on Keno Wizard.

The 2012-founded leading iGaming technology company that supplies products, services, and solutions to iGaming operators, Gaming Innovation Group (GiG), has announced the appointment of ex-DraftKings and SBTech executive Andrew Cochrane as its new chief business officer for Platform & Sportsbook. 

The move, which will see the new CBO work together with Platform & Sportsbook’ recently appointed chief executive officer Richard Carter for a second time, represents an important milestone in the tech supplier’s plans for growth. Cochrane took it to his social media to announce his excitement about the appointment.

Cochrane, a “Prominent and Highly Respected” Industry Figure 

Described as a “prominent and highly respected figure within the industry” by GiG, the new CBO is expected to bring his rich experience and proven track record of driving revenue growth and shareholder value to the table and help support the company’s success. 

Further augmenting its choice, GiG mentioned the pivotal roles that Cochrane played in driving revenue growth for SBTech where he spent almost two years and occupied the chief commercial officer and chief business development officer positions. 

GiG’s new CBO was also part of the executive team that led the DraftKings business combination which eventually resulted in the NASDAQ listing of the combined business in the spring of 2020.

The customer relations expert who engages with tier-1 and lottery operators also spent close to four years with DraftKings Inc. as senior vice president commercial. 

There, he inked a series of strategic partnerships “with over $50-$100 million in annual partnerships” while busy guaranteeing the best-in-class commercial rates for services and products required by the company’s verticals including Sports Betting, Daily Fantasy Sports, and iGaming. 

Cochrane was also Sporting Solutions’ key account director and sales director between July 2015 and July 2017. He was also Inspired Gaming Group’s global account director with the key responsibility of delivering the agreed service-level agreements and key performance indicators of the contract with the company’s largest leveraged buyout customer, William Hill. 

Speaking about their previous collaborations, CEO Carter expressed his delight in having Cochrane “onboard to help propel our commercial efforts to unprecedented heights.”

What the New Position Brings 

Together with Carter, the new CBO will focus on powering growth for the company’s innovative product suite via fresh agreements in growth global markets while strengthening its position as a leading option for turnkey solutions.

Cochrane will implement GiG’s commercial strategies across its iGaming platform, as well as across its sportsbook and Artificial Intelligence-based solutions. The list will include business development, partnerships, corporate development, and marketing. 

His journey with GiG will begin with selecting and attracting some of the brightest industry pros who can help them unlock all the opportunities that await in GiG’s worldwide addressable markets.

At the start of October, GiG announced it would assist Goldenpark with making its entrance into Ontario’s online market. Earlier in the year, in May, the tech company extended its partnership with bet365.

The post GiG Moves for Andrew Cochrane as Platform & Sportsbook CBO appeared first on Keno Wizard.

The leading iGaming technology company delivering services and solutions to the iGaming vertical, Gaming Innovation Group (GiG), announced a new strategic senior-level appointment. On Friday, the company confirmed that its Board of Directors selected Jonas Warrer to serve as acting group CEO. GiG explained that the appointment is effective immediately.

Taking on the role of acting group CEO of GiG, Warrer will hold a dual role, considering he will continue to be the CEO of GiG’s Media division. He will continue to hold the dual role until the company finalizes the separation of its GiG Media and Platform and Sportsbook divisions.

The planned split was announced earlier this year, following a strategic review of GiG’s operations and growth plans. Ultimately, the company identified that splitting the business units would enable them to grow at a faster rate than under the current business structure.

Petter Nylander, GiG’s executive chairman, revealed that the company is delighted to see Warrer take on the new role of acting CEO. He explained that the latest appointment comes during a strategic moment of splitting GiG into two separate entities. Nylander spoke about the positive change this split will bring, including shareholder value. Finally, GiG’s executive chairman spoke about the extensive experience Warrer brings, highlighting his exceptional performance over the last few years with the company’s C-suite.

“We are very pleased to appoint Jonas as acting CEO through the process of splitting GiG into two distinct entities to enhance future expansion and drive shareholder value, in addition to his role as head of GiG Media.“

Petter Nylander, executive chairman of GiG

The Company Completed Multiple C-Level Changes Recently

The appointment of Warrer comes after earlier this month, GiG confirmed that Richard Brown stepped down from his role as CEO. At the time, the company revealed that he would move to a board advisory position. Brown will remain with that role through December 31, 2023, revealed GiG at the time.

Another recent important management-level appointment involved the company’s Platform and Sportsbook division. Back in August, GiG confirmed that Richard Carter was appointed to the role of CEO of its Platform and Sportsbook division, strengthening its leadership team.

Focusing once again on the latest appointment, Warrer first joined GiG back in 2017. This happened at a time when GiG acquired Rebel Penguin Aps, a company where he held the role of managing director and founder. Spearheading the expansion of GiG Media, Warrer held several important roles. Under his strategic guidance, the unit has seen strong growth and impressive development.

The post GiG Selects Jonas Warrer for Acting Group CEO Role appeared first on Keno Wizard.

Gaming Innovation Group (GiG) has announced that Richard Brown is stepping down as CEO and moving to a board advisory position until 31 December 2023. This change is effective immediately and complements the company’s long-term restructuring efforts. The split should unlock the full potential of each business unit by providing them with enhanced strategic and financial flexibility.

Brown Leaves Behind a Legacy of Success

GiG’s planned split will give rise to two industry-leading companies, each with the potential for accelerated growth compared to the existing corporate structure. To facilitate this transition and ensure the success of each business unit, GiG made several crucial leadership changes, culminating with Richard Brown’s decision to step down from his position as CEO.

Petter Nylander, GiG Chairman of the Board, will assume the role of Executive Chairman during the transitional period until the proposed split, overseeing the company’s strategic review. He thanked Brown for his long-time contributions, expressing gratitude for his decision to accept the board advisory position and ensure a smooth transition.

The board wants to thank Richard for his valuable contribution to GiG over the years. We are pleased that Richard will be available until year-end to secure the succession.

Petter Nylander, GiG Executive Chairman

This arrangement will give the new leadership teams the autonomy and mandate to efficiently lead their respective business units while benefiting from Brown’s background support. The former CEO commented that GiG was at an all-time high, presenting a perfect opportunity for him to step down. He was confident his successors would preserve the company’s legacy and drive future success.

The New CEOs Will Help Ensure a Smooth Transition

Richard Carter will lead GiG’s Platform & Sportsbook business unit and should gain full autonomy after the planned split. He stepped into the CEO position in August, providing knowledgeable and experienced leadership for this crucial division. Carter will leverage his expertise to ensure the enduring success of GiG’s software-as-a-service (SaaS) vertical, servicing over 40 business partners in 35 markets worldwide.

Jonas Warrer will retain his leadership position in GiG Media. Serving as the CEO of this business unit, his experience, and expertise will be pivotal in preserving the GiG brand’s enduring popularity and laying the groundwork for new collaborations. His input was instrumental in several of the company’s recent partnerships, so both new divisions seem in good hands.

We now have two strong CEOs with full operational responsibility for each business unit.

Petter Nylander, GiG Executive Chairman

GiG’s strategic decision to divide the company presents significant short-term challenges as the two teams adjust to their new position. However, the company’s leadership position and history of success should provide a stable foundation for the split. Brown’s transition to an advisory role is a pivotal part of this strategy, enabling GiG to navigate this challenging period.

The post GiG CEO Richard Brown Transitions to Board Advisory Position appeared first on Keno Wizard.

Gaming Innovation Group (GiG) has posted its Q2 financials, reporting all-time high revenues. The company is optimistic about the future and will do its best to maintain its momentum into H2.

As reported by the company, GiG achieved all-time high quarterly revenues at $33.9 million (all figures have been converted to USD). This represents a stellar 40% year-on-year increase, the iGaming and sportsbook solutions provider said.

Adjusted EBITDA for the period was $15.27 million, marking a 68% YOY increase. Adjusted EBITDA margin, meanwhile, increased to 45%, approaching GiG’s goal of 50%.

The GiG Media arm, meanwhile, reported all-time high revenues at $23.7 million with an adjusted EBITDA of $11.2 million. The Platform & Sportsbook division, on the other hand, reported revenues of $10.1 million with an adjusted EBITDA of $4 million.

Additionally, GiG said that profit before tax was $7.2 million, representing a spectacular YOY increase of 197%. Positive cash flow from operations, however, experienced a slight drop from $10.4 million in Q2 2022 to $9.9 million in Q3 2022.

GiG also reported earnings per share of $0.055.

Q2 Was a Productive Period for the Company

GiG also shared a few quarterly highlights concerning the favorable performances of GiG Media and Ask Gamblers.

In Q2, GiG struck a final agreement with Palasino and secured licenses in Pennsylvania, Maryland and Sweden for its Platform & Sportsbook business.

The quarter was especially productive for the supplier, which launched and completed the migration of all GiG legacy Sportsbook clients to Sportnco. Moreover, the company managed to launch two new brands and sign three new Platform & Sportsbook agreements.

As a result of its efforts, GiG secured the Full-service Platform Provider and Multi-channel Supplier of the Year award at the 2023 EGR B2B Awards.

Following the conclusion of the quarter, GiG signed one new deal and three heads of terms for Platform & Sportsbook. At the beginning of Q3, GiG also launched five additional brands and entered new markets. The number of brands powered by the operator is currently 65.

Richard Brown, Gaming Innovation Group’s chief executive officer, called Q2 “another step forward for GiG,” praising the results. He said that his company is excited to continue its growth in Q3.

We now look into the second half of the year with total focus on ensuring strong growth mechanics, continued operational improvement and long-term scalability for GiG.

Richard Brown, CEO, GiG

Meanwhile, GiG just named Richard Carter as CEO of the Platform and Sportsbook division.

The post GiG Posts All-Time High Q2 Revenues appeared first on Keno Wizard.