GIG Signs Licensing Agreement with Microgaming
Gaming Innovation Group (GIG), a gaming supplier and operator listed in Oslo, has gotten into a licensing agreement with Microgaming, which enables it to launch Microgaming’s online poker gaming software for its clients.
The agreement will enable GIG to launch Microgaming’s online poker product at Guts.com, its proprietary online gambling site, in Q4 of 2014. The product will go live at Rizk.com and Betspin.com next year.
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The deal will also enable iGamingCloud, a subsidiary of GIG, to provide online poker services in addition to its cloud services.
However, the agreement can be brought into effect only if MT SecureTrade, a subsidiary of GIG in Malta, gets an online poker license from the Malta Gaming Authority (MGA). The company announced that it is currently making preparations to apply for a license and will make a final decision in three months.
GIG refers to this licensing agreement as a “milestone” as its aim is to develop into a full-scale provider of gaming services and entertainment. GIG CEO Robin Reed said: “GIG originated from the poker industry thus this beautiful game is in our DNA. We are thrilled by the prospects of building a great player experience by promoting poker at the intersection of sports and social entertainment. Microgaming is an institution in online poker, and are continuing to display its commitment to the game through rapid product innovations and popular live tour.”
Speaking about the partnership, Microgaming CEO Roger Raatgever said that GIG is already using its Quickfire product and will now start using its online poker product too. He said: “The Guts brand is a welcome addition to the Microgaming Poker Network.”
Recently, GIG acquired an affiliate network based in Estonia for €900,000 along with 795,000 new shares. GIG now expects its newly acquired affiliate network to fetch 20,000 new gamblers for its clients in the following three years. The move is therefore expected to boost GIG’s business in a big way.
After the acquisition, Reed said that the company is happy to successfully acquire a developing affiliate network in its target markets in the shortest possible time. He further said that the company is not only increasing its ability to drive real money players to its partners, but is also building its “online distribution channel to bundle with our platform service iGamingCloud, to the benefit of our clients.”
The company expects the acquisition to increase its pre-tax and pre-interest earnings by at least €700,000 over the following year.