Oslo-listed gaming operator and supplier Gaming Innovation Group (GIG) has signed a licensing agreement to launch Microgaming's poker software for clients hosted on its platform.
The deal will see GIG launch online poker for players of its proprietary gaming site Guts.com during the final quarter of this year, with the product also going live for the Betspin.com and Rizk.com brands in 2016.
GIG’s platform subsidiary iGamingCloud will also be able to provide poker alongside its cloud services offering to B2B clients, with Microgaming having final approval on each deal.
The agreement is contingent on GIG’s Malta-based subsidiary MT SecureTrade being issued a Class 3 on 4 poker licence by the Malta Gaming Authority. The company said it was in the process of preparing its application, with a final decision to be made within three months.
The strategic agreement has been described as a “milestone” for GIG, as it aims to become a full-scale gaming entertainment and service provider, offering as wide an array of gaming applications as possible.
“GiG originated from the poker industry thus this beautiful game is in our DNA,” GIG chief executive Robin Reed said. “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.”
Microgaming chief executive Roger Raatgever added: “Already a customer of our Quickfire Casino product, we're delighted to be extending our relationship with the Gaming Innovation Group through our poker platform. The Guts brand is a welcome addition to the Microgaming Poker Network.”
In related news, GIG has acquired an Estonia-based affiliate network targeting the Nordic gaming market for €900,000, plus 795,000 new shares. It is expected to generate more than 20,000 new depositing customers for GIG subsidiary Innovation Labs’ B2B clients over the next three years, significantly strengthening the business.
“We are pleased to conclude our third acquisition of a growing high value affiliate network in our target markets in a short timeframe,” Reed commented. “Not only are we increasing our capability of driving paying users to partnering operators, but we are also strengthening our online distribution channel to bundle with our platform service iGamingCloud, to the benefit of our clients.”
The acquisition is expected to boost earnings before interest and tax by a minimum of €700,000 over the next 12 months.
Shares in Gaming Innovation Group Inc (OSL:GIG) are currently trading up 13.64 per cent at NOK1.50 per share in Oslo.