GIG extends service deal with MRG’s Latvian operation
News on 24 Aug 2018
News on 24 Aug 2018
Gaming Innovation Group Inc. (GiG) announced Friday a multi-year extension with 11.lv, MRG’s (Mr Green) newly acquired iGaming company in Latvia.
In addition to the multi-year extension of the existing contract, GiG will supply 11.lv with the new GiG Sports Betting Services: GiG Goal, GiG Trader and GiG Sports Connect, the company revealed in a press statement.
The release noted that the deal is a milestone for GIG because it is the first agreement to take up its new sports betting services.
11.lv is Latvia´s third largest licensed iGaming operator and an existing customer of GiG. In June, MRG announced its acquisition of 75 percent of the shares in 11.lv (see previous report).
Janis Tregers, CEO of 11.lv, said Friday: “Adding GiG Sports products to our offering is an exciting moment for 11.lv on several fronts.
“First of all, we have always believed differentiation is the key to success in our industry. The flexibility of trading and odds-making tools built into this platform will allow our experienced bookmaker team to create an odds-offering which is truly unique and tailored to what customers in our market demand.
“Secondly, the all new mobile-first front end. Although it can be seen as merely a recognition of where the industry has found itself today, we are confident the functionality and user experience of the new product will allow us to become the operator of choice as the industry continues to embrace the new mobile reality.
“Finally, the partnership with the team at GiG gives us full confidence the product will continue to evolve and provided the need, we will have the support and know-how required to grow our business further in our current market or any new ones.”
Robin Reed, CEO of Gaming Innovation Group Inc. added: “11.lv is an existing customer of GiG and we will continue our successful collaborations to create an outstanding betting experience for its end users and grow the sports betting vertical together.”
The agreement is based on revenue share and is expected to go live in Q4 2018. The deal is expected to have marginal contribution on GiG´s overall revenues in 2018, with an increase in 2019 and beyond.
