Gaming Innovation Group (GiG) has secured a head of terms agreement with Grupo Slots, Argentina’s premier gaming and entertainment group, allowing the supplier to enter the regulated Buenos Aires City online gaming market.
The deal will see GiG provide Grupo Slots with a full online turnkey solution, including the technical online gaming platform, sportsbook, front end development, GiGs data platform and GiG Logic. Signing of the final agreement is anticipated before the end of Q3.
H2GC estimates the total gambling market in Argentina to be worth €352m ($416.7m), however only 7% is currently done online, meaning there is significant growth opportunity. GiG is well placed to capture this market growth with Grupo Slots who already have a regulated online presence with the online gaming website Jugadon.com.
GiG CEO Richard Brown, said: “We see a great potential in the regulated environments within Argentina as that market is in the early transformation from offline to online gambling, and to partner with one of the largest and premier land-based operators in the market is a great opportunity to showcase our product in the LatAm market while delivering the platform for online gambling transformation for Grupo Slots.”
Grupo Slots, which is headquartered in San Luis, provides top-of-the-line entertainment and leisure services in more than 20 locations across Argentina including casinos, gambling and bingo halls, as well as lotteries, hotels, restaurants and convention centres.
The minimum contract period will be four years with an automatic extension for one additional year, based on a revenue share model in combination with set-up fees.