Tag: GiG

GiG finalises Crab Sports deal as Maryland opens licensing process

Gaming Innovation Group (GiG) has ratified its previously announced agreement with Maryland sports betting brand, Crab Sports, as Maryland opens its mobile sports betting licensing process.

The formalisation of the deal comes after the signing of an initial head of terms agreement in June, where GiG offered the use of its platform and sportsbook to the Maryland-facing Crab Sports

The agreement is the first US deal of its kind for GiG since the business’ April acquisition of Sportnco, along with its in-house turnkey sportsbook.

GiG CEO Richard Brown said: “I am excited to be partnering with a localised brand like Crab Sports in Maryland, US. We view the Maryland and the wider US market as a strong opportunity given our expertise in personalisation and building a unique customer experience.”

[Read full story on iGB North America]

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GiG sets €65m EBITDA goal for 2024 as Sportnco contributes to record Q2

Gaming Innovation Group (GiG) drastically upped its long-term targets – now aiming for earnings before interest, tax, depreciation and amortisation (EBITDA) of around €65m (£54.7m/$65.9m) by 2024 – following a record quarter bolstered by the acquisition of Sportnco.

The results – for the second quarter of the year – were the first to include sportsbook supplier Sportnco. GiG acquired Sportnco for €51.3m (£43.2m/$56.7m at the time) as the quarter began after agreeing the deal in December.

The business set an all-time record in revenue with €22.1m, up 37.1% year-on-year. While the acquisition helped the business, GiG also noted the total was up by 24.0% organically.

Media – covering GiG’s affiliate brands – continued to make up the majority of revenue, with €14.8m, up by 35.1% year-on-year, and by 5.0% from the previous record high set in Q1.

Of this total, €9.8m came from publishing brands and the remaining €5.0m from paid media. New launches for the division included a brand focuse..

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GiG reveals Betsson as first Colombia sportsbook partner

Gaming Innovation Group (GiG) has revealed Betsson Group as its first sportsbook partner in Colombia, after only initially releasing partial details of the deal.

In June, GiG said its Sportnco subsidiary had signed its first Colombia-facing sportsbook deal with an unnamed ‘tier-one’ operator.

GiG has now revealed it has been working with Betsson in Colombia for the past year, with the country the third regulated market in which GiG provides both software and services to this client.

The deal, GiG said, ratifies a partnership that was initiated more than 12 months ago when Betsson completed the takeover of regional operator Colbet.co in June 2021, shortly after which it agreed to migrate onto GiG’s Sportnco’s platform.

Betsson, which operates both online and via retail in Colombia, said that its presence in the country increased significantly over the past year as a result of using GAN’s player account manager.

“As part of our rebranding in Colombia, we migrated to GiG’s platform ..

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DIY or third-party: the sportsbook technology debate

The debate over whether operators should build their own technology or use a third-party solution has raged for decades, but it appears to have grown more intense as the US market opens. However, as Daniel O’Boyle reports, it may not be a question with a clear answer

It’s said that if you want something done well, you should do it yourself.

That appears to be an adage many sports betting operators have taken to heart.

Hop on any earnings call for a US operator, and there will no doubt be plenty of mentions of “proprietary sportsbook technology”.

The demand among operators for in-house solutions is backed up by their money. In 2020, DraftKings merged with SBTech, valuing the supplier at $634.1m. Last year, Caesars acquired William Hill for $3.7bn, mostly for its proprietary technology.

Meanwhile, theScore announced a long process to build its own sportsbook technology, which surely played a major part in Penn National Gaming acquiring it for $2bn.

“I don’t want to get distracted b..

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DIY or third-party: the sportsbook technology debate

The debate over whether operators should build their own technology or use a third-party solution has raged for decades, but it appears to have grown more intense as the US market opens. However, as Daniel O’Boyle reports, it may not be a question with a clear answer

It’s said that if you want something done well, you should do it yourself.

That appears to be an adage many sports betting operators have taken to heart.

Hop on any earnings call for a US operator, and there will no doubt be plenty of mentions of “proprietary sportsbook technology”.

The demand among operators for in-house solutions is backed up by their money. In 2020, DraftKings merged with SBTech, valuing the supplier at $634.1m. Last year, Caesars acquired William Hill for $3.7bn, mostly for its proprietary technology.

Meanwhile, theScore announced a long process to build its own sportsbook technology, which surely played a major part in Penn National Gaming acquiring it for $2bn.

“I don’t want to get distracted b..

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GiG pens new deals in Portugal and Spain

Gaming Innovation Group (GiG) has signed two new agreements with operators in Spain and Portugal, supplying its platform services to both.

Under the deals, GiG subsidiary Sportnco will sign with Caravel Entertainment Limited in Portugal – which operates online casino brand Moosh – and an unnamed online operator in Spain.

GiG acquired Sportnco in April of this year, in a deal worth €51.3m (£43.2m/$56.7m).

Caravel will then use the Sportnco sportsbook for the moosh.pt website.

“We are very proud to sign this contract with Moosh, a new GiG customer in the demanding and attractive Portuguese market,” said Hervé Schlosser, managing director of Sportnco. “Moosh.pt has great ambitions domestically and there is no doubt that we are perfectly positioned to be able to respond positively to the new dynamics of this growing Portuguese operator.”

Martin Bengtsson, CEO at Moosh.pt, said that the deal will allow the operator to upgrade its sportsbook offering.

“It has been a long process to fin..

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