Gaming Innovation Group expands into North Macedonia sports betting market23rd November 2020 8:45 am GMT
Stockholm-listed Gaming Innovation Group (GiG) has expanded its existing agreement with North Macedonian leisure group KAK DOO to include an omnichannel sports betting offering.
Having agreed a long-term deal in September to power KAK’s online casino launch, GiG will now also provide a retail and online sportsbook solution to the operator as it moves into sports betting.
Under its existing license, KAK is allowed to operate an initial 25 retail venues across the country, as well as an online sportsbook.
The sportsbook is slated to go live in Q2 2021 and is expected to make a positive contribution to GiG's revenue from the second half of next year.
“Our recent decision to expand into both the retail and online sportsbook market was a natural step for us, building on our successful land-based casino activities and we see it as a very exciting proposition,” said KAK DOO chief executive Ognjan Cigovski. “We can now offer our customers a full suite of products across multiple locations as well as online.
“We are excited to partner with GiG on this venture, who's product and service offering were a great fit for what we want to achieve in the local Sportsbook space.”
GiG chief executive Richard Brown commented: “I am very pleased to expand our partnership with KAK. They have secured a local sports betting license and have exciting growth plans which are highly complementary to their existing premier retail casino presence in the country.
“By adding our online and OTC sportsbook technology offering to the online casino also powered by GiG, KAK's end users will have a seamless end-to-end experience. We are very much looking forward to working with them to deliver a great product to the local market.”
Shares in Gaming Innovation Group Inc (OSL:GIG) were trading 2.85 per cent lower at NOK11.58 per share in Oslo Monday morning.