Gaming Innovation Group complete transition into full service company
Gaming Innovation Group will soon announce its first sports betting partners after completing its transformation into a full-service company.
Last June, GIG through it B2C site Rizk successfully soft launched a sportsbook, to the admiration and positive response from customers and connoisseurs of the gaming industry.
The sportsbook, which comprises of services like the GiG Goal, GiG Trader and GiG Sports Connect can be offered separately or in unison.
The company made the announcement at its second quarter presentation, emphasising that its first external client is “close to signing”.
The company also announced an increase of 39% to €36.9 million ($42m/£33m) of its overall revenue during the 3 months to June 30.
The chief executive of GiG, Robin Reed indicated that the first client would initially act solely as the company wants to ensure a successful launch.
“Sports betting is the largest vertical in the industry, so it was clearly of interest for us,” he said.
“However, it’s remained largely unchanged in many ways over the last decade or so.
“In developing our platform we have had the advantage of being able to produce a service from scratch, rather than the constraints of updating an existing product.
“We have been in dialogue with companies for the last two years as we have developed the product. We are very close to signing our first client, and we will deal with them alone in a controlled launch, as we don’t want to take too much on and risk damaging our reputation.
“The reaction to the Rizk launch has been good and we have had a lot of interest.”
GiG agreed not to contract new clients, while developing its platform for Hard Rock Casino in New Jersey, in its bid to ensure customer satisfaction.
Since that period is over now, the company is seeking partnerships in North America and Europe.
Reed did not hide his excitement at the Supreme Court’s repeal of the PASPA and assured investors that half of the states in the US would allow sports betting by 2020.
Aside from its betting pursuit, the company will soon launch a compliance tool called GiG Comply. In addition, it will release its maiden in-house game in September.
“We have expertise so we are a very good match to new entrants in digital space in the US,” Reed said.
“It has been a busy period of development for us. In the next six months, we are looking at improving our products and increasing market share.”