The agreement is in place for a five-year initial term and is expected to go into effect in the first quarter of 2023.

Through the partnership, GiG will offer its player account management (PAM), front-end delivery and content management systems (CMS), allowing TWHE to expand its retail business online through Palasino.com; and opening opportunities in various established and developing online markets.

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.”

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 is an exciting time for us all here at Palasino.”

Furthermore, this announcement marks the ninth traditional retail operator to select GiG as a partner to digitally transform the company.

In 2018, the Hong Kong-based Far East Consortium (FEC), a specialist in international development, acquired TWHE.

The firm, which runs a variety of casinos and boutique hotels across Europe and has stakes in Germany, the Czech Republic and Austria, has pursued plans to expand operations.

GiG's biggest move in recent months was to acquire AskGamblers for €45m ($47.9m).