ST JULIAN’S, Malta, April 11, 2023 /PRNewswire/ — Gaming Innovation Group Inc. (GiG), has today completed its full agreement with Palasino Malta Ltd (PML), part of Trans World Hotels & Entertainment a.s. (TWHE) , following a head of terms announced on 24 January.
The partnership will see GiG provide its award winning player account management platform (PAM), front-end delivery and content management system (CMS), powering the online entry of TWHE’s traditional retail business through Palasino.com and providing opportunities within multiple international established and emerging online markets.
The announcement marks the ninth traditional retail operator choosing to partner with GiG to digitally transform their business and add an additional online revenue stream to their retail portfolio.
TWHE, who have operated for over 25 years in the retail casino industry, was acquired by the Hong Kong based international development specialist Far East Consortium (FEC) in 2018. Operating a range of casinos and boutique hotels across Europe, the group, which has interests in Germany, Czech Republic and Austria have pursued plans to expand operations, elevating its status as a premier brand in the European gaming and hospitality markets.
Overall European online growth of regulated GGR is projected to climb at an annual rate of 7.6 percent to €37.3bn by 2026, according to forecasts from VIXIO Gambling Compliance.
As a leading iGaming platform and sportsbook provider, GiG has built a strong reputation with land-based operators looking to expand on their digital aspirations. Specifically designed to provide a flexible, localised and personalised solution, tailored to the needs of individual operators in complex markets, GiGs platform boasts an expansive global footprint that currently covers 29 regulated markets, and a further 8 in the pipeline.
The agreement is signed for an initial period of five years, and is expected to be live during H1 2023.
Marcel Elfersy, CCO of GiG, said: “We’re really pleased to have the ink dry on this deal with Palasino, seeing a wealth of opportunity in the partnership for both businesses to expand into. We’re continuing to see growth in the online gaming space across the industry, with the brand equity of experienced retail brands gelled with specialised third party technology such as ours, positioned well to establish a strong foothold in global markets.”
Colin Chapman Stewart, Director of Gaming at FEC commented: “Partnering with GiG provides TWHE, Palasino and our shareholders with the confidence and ability to launch our online division operating out of Malta with an MGA license. Bringing our brand online to new international players who can experience the same feeling in the casinos we have successfully operated for the past quarter century, is an exciting time for us all here at Palasino.”
For further information, please contact:
Richard Brown, CEO GiG, richard.brown@gig.com, +34 661599025
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group’s vision is ‘To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers. GiG’s mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
SOURCE Gaming Innovation Group