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Gaming Innovation Group Inc. has decided to extend its existing contract with Betsson Group. The current agreement provides platform and managed services for Betsson Group. Upon renewal, the contract will extend for another three years.
Gaming Innovation Group Agrees to Three-Year Contract Extension With Betsson
Gaming Innovation Group Inc. has confirmed that it will continue its long-term relationship with Betsson Group. The two brands have agreed to extend their existing agreement for another three years. This new contract will take the companies through the final quarter of 2025.
Gaming Innovation Group and Betsson Group have mutually decided to extend an existing partnership agreement through Q4 of 2025.
Per the current deal, GiG has been providing platform and managed services for a number of Betsson Group brands. This includes Rizk, Guts, Kaboo and Thrills. In addition, Betsson will receive general support and customer service for all brand operations.
The extension of this partnership shows how well the agreement has been working out for both GiG and Betsson Group. This contract renewal will bring additional growth to both brands and expand each company’s market presence.
In addition to its existing contract terms, GiG also has even bigger and better plans for its offerings for Betsson Group. GiG is slated to deliver several new market entries into new and hot regions in the near future. This is a huge get for Betsson, and it speaks well to GiG’s global connections in regulated markets.
Gaming Innovation Group and Betsson Have Formed a Powerful Alliance
This continued partnership is great news for both brands and their respective customer bases. The promise of new growth market entries is also a strategically sound move for both GiG and Betsson. It proves that GiG is positioned to propel tier-one brands like Betsson into the spotlight in new and competitive markets.
GiG CEO Richard Brown says:
“We are extremely pleased to extend our partnership with Betsson Group for the coming years. It has been a key internal target as part of our transition into a pure B2B focus over the last 18 months. The partnership will support and help to drive the two businesses’ growth in existing and new markets, increasing the diversification and market opportunities for both Betsson and GiG.”
In April 2020, GiG entered into its current partnership agreement with Betsson Group for a period of 30 months. In that time, the brand offered its full suite of online gaming platform technologies to power Betsson brands.
Andrew Valencia is the current Gaming Commercial Director for Zecure Gaming, the B2C subsidiary of GiG acquired by Betsson Group. Valencia made the following statement about the contract renewal:
“We are delighted to have extended our agreement with GiG for an additional period of three years. As a platform provider, GiG will be a key part of our road map for growth, and I am very confident in their ability to fuel our development in new and existing markets.”
Betsson and GiG Look Toward the Future
Since the original deal was signed, both companies have been working separately and together to build up their respective brands. The previous contract was based on a revenue-sharing model, and the three-year extension continues these same terms.
Gaming Innovation Group has undergone a total branding overhaul in recent years. This partnership with Betsson has been a significant pivot point for the brand. GiG has turned its complete focus toward offering exclusively B2B solutions for major casino brands.
In the wake of this shift, Betsson acquired many of GiG’s B2C assets. Both brands have been working toward greater portfolio diversification. Additionally, they have been consistently seeking out new market entry opportunities to continue their growth.
This strategic contract deal makes sense for both GiG and Betsson. Betsson is a powerhouse brand in the online casino industry. It is listed on the Stockholm NASDAQ, and it has consistently been a top-ranking brand across Europe.
Betsson has a long and impressive track record of brand building. The company achieves this both organically and through forward-thinking acquisitions. In addition, the brand is well-known for being a responsible and equitable partner. This means that it’s no great surprise that Gaming Innovation Group is pleased to extend its current partnership agreement.
GiG is a brand that recognizes the importance of remaining agile and ahead of the curve in the online casino business. This plays an integral role in the company’s strategy for partnership and expansion. GiG leverages state-of-the-art technology and extensive industry knowledge to target specific markets for growth.