Oslo-listed Gaming Innovation Group (GiG) has entered the lottery vertical for the first time through a long-term deal with MegaLotto, a new startup backed by Optimizer Invest.

GiG will provide its technical platform and casino games to MegaLotto, which is expected to launch in mid-2019, offering bets on the outcome of more than 30 of the largest lotteries in the world.

"I am delighted to add further growth potential for GiG by entering the lottery vertical with MegaLotto,” said GiG chief commercial officer Ben Clemes. “We share the same ambitions of a fun, fair, responsible and innovative user experience.

“GiG covers all verticals in iGaming, by adding lottery to our games vertical, we are strengthening our competitive advantage as a global full service provider."

Optimizer Invest chief executive Petter Moldenius commented: "We are very excited to launch MegaLotto with GiG and its state-of-the-art services. This is an important project and we are confident GiG is the right partner for us to grow this business into a big player in the industry."

In related news, Malta-based Optimizer Invest sold its remaining 5.19 per cent stake in Stockholm-listed digital marketing specialist Catena Media on Monday.

The investment vehicle was previously Catena Media’s largest shareholder but began reducing its stake last August. It maintains stakes in several other companies in the iGaming sector including GiG, Hero Gaming and Easy Payment Gateway.

Shares in Gaming Innovation Group Inc (OSL:GIG) were trading down 3.88 per cent at NOK19.84 per share in Oslo Tuesday, having set a new 52-week low of NOK19.62 per share earlier in the day.

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