Gaming Innovation Group terminates agreement due to ‘change in strategy’

By Gambling Insider

Gaming Innovation Group (GiG) has terminated a platform agreement with an unnamed European media group, having announced the deal last December.

The original deal was for GiG to provide the group with its igaming and data platform, to help power the undisclosed group’s igaming offering under its own licence.

The partnership was based on different fixed fees and a revenue share model, with a minimum contract term of three years.

The European group made wholesale changes in strategy and decided to alter its approach towards operating with its own licence; for this reason, the partnership was seen as no longer viable for either party.

In 2019, GiG decided to not support the white label model and with its potential partner altering its strategy, GiG decided to accept the termination of the agreement.

The termination will not impact GiG’s financial forecasts for 2020 or its long-term financial targets. It explained that the current onboarding of clients has remained strong and it continues to improve its depth in the sales pipeline.

Richard Brown, GiG CEO said: "The change in strategy has led to an impasse for us to move forward together. While unfortunate to terminate this agreement, we wish them well and we continue to move forward on a multitude of our own opportunities"

Despite this setback the group managed to reach agreements with Fast Track and Kaizen Gaming earlier this month.

GiG is also in the habit of signing deals with other companies without naming them, having done so with a German operator back in February.

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