Oslo-listed Gaming Innovation Group (GiG) has signed a landmark deal to provide its sports betting solutions to MRG’s newly acquired 11.lv business in Latvia.
The agreement marks GiG’s first external sportsbook contract and sees the company provide its newly launched sportsbook services to Latvia’s third largest licensed iGaming operator and an existing customer of GiG.
“We are delighted to have signed with MRG to provide its brand 11.lv with our new cutting-edge and flexible sports betting services and to support 11.lv´s expansion,” said GiG chief executive Robin Reed. “It is also a milestone for us having signed our first external contract for the new sportsbook.
“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.”
11.lv CEO Janis Tregers said that adding GiG Sports products to its offering was an exciting moment for the operator on several fronts.
“First of all, we have always believed differentiation is the key to success in our industry,” Tregers explained. “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.”
The agreement is based on revenue share and is expected to have a marginal contribution on GiG’s revenues in 2018, with an increase expected in 2019 and beyond.
Shares in Gaming Innovation Group Inc (OSL:GIG) were trading up 1.32 per cent at NOK3.46 per share in Oslo Tuesday morning.