Gaming Innovation Group (GiG) has completed its full agreement with Palasino Malta, part of Trans World Hotels & Entertainment, following a head of terms announced on January 24. The agreement is signed for an initial period of five years, and is expected to be live during H1 2023.
The partnership will see GiG provide its player account management platform, front-end delivery and content management system, powering the online entry of TWHE’s traditional retail business through Palasino.com and providing opportunities within multiple international established and emerging online markets.
The announcement marks the ninth traditional retail operator choosing to partner with GiG to digitally transform their business and add an additional online revenue stream to their retail portfolio.
TWHE, who have operated for over 25 years in the retail casino industry, was acquired by the Hong Kong based international development specialist Far East Consortium (FEC) in 2018.
Operating a range of casinos and boutique hotels across Europe, the group has pursued plans to expand operations, “elevating its status as a premier brand in the European gaming and hospitality markets.”
Overall European online growth of regulated GGR is projected to climb at an annual rate of 7.6% to EUR 37.3 billion by 2026, according to forecasts from VIXIO Gambling Compliance.
“Specifically designed to provide a flexible, localised and personalised solution, tailored to the needs of individual operators in complex markets, GiGs platform boasts an expansive global footprint that currently covers 29 regulated markets, and a further 8 in the pipeline,” GiG wrote.
Marcel Elfersy, CCO of GiG, said: “We’re really pleased to have the ink dry on this deal with Palasino, seeing a wealth of opportunity in the partnership for both businesses to expand into. We’re continuing to see growth in the online gaming space across the industry, with the brand equity of experienced retail brands gelled with specialised third party technology such as ours, positioned well to establish a strong foothold in global markets.”
Colin Chapman Stewart, Director of Gaming at FEC commented: “Partnering with GiG provides TWHE, Palasino and our shareholders with the confidence and ability to launch our online division operating out of Malta with an MGA license.”
“Bringing our brand online to new international players who can experience the same feeling in the casinos we have successfully operated for the past quarter century, is an exciting time for us all here at Palasino.”
Late last month, the company launched a new Enterprise Solution which complements its Software as a Service (SaaS) licensing model. The Enterprise Solution provides technological and operational autonomy to clients who have technical development capabilities and wish to modify, enhance or build upon GiG’s existing application. The firm has already signed its first license agreement for its new product.
As the demand for B2B solutions continues to grow and evolve across the global online gambling industry, GiG’s Enterprise Solution gives clients the flexibility and ability to manage autonomously all aspects of the locally deployed platform, to modify the software or supplement it, to enhance the product development and integration roadmap while still benefiting from GiG’s proprietary technology. This also enables GiG with a new commercial model to augment its current offering, the firm noted.
The Enterprise Solution is an exclusive offering available to clients who are able to manage their own technology stack. ‘Both GiG and its Enterprise partners benefit from the continued product innovation. GiG considers this offering as a powerful and bespoke solution that will serve an increasing demand within the industry for higher levels of technological and roadmap flexibility while also adding further revenue streams to the business,’ the company stated in a press release.
Original article: https://www.yogonet.com/international/news/2023/04/11/66773-gig-completes-agreement-with-palasino-malta-expected-to-go-live-during-h1-2023
