Gaming Innovation Group has announced its first day of trading as an independent B2B iGaming technology company, following its spinout from marketing affiliate business Gentoo Media. The company said the listing as GiG Software PLC on the Nasdaq First North Premier Growth Market marks “a significant milestone” in its history.
The company stated that spin-out affirms GiG’s commitment to the continual “enhancement and innovation” of its proprietary B2B technology and services, a suite that includes iGaming platform CoreX, sportsbook SportX, and Social casino sweepstakes platform SweepX. “GiG will now have the opportunity to innovate faster, scale more efficiently for both short and long-term, to ultimately deliver greater value to its partners and investors”, the company added.
GiG’s is one of the few end-to-end technology providers that can offer enhanced, next-generation platform capabilities, according to a press release. Its “powerful, secure, and highly scalable iGaming technologies” are built for rapid integration, prioritizing functionality that elevates localization and features to offer partners a competitive advantage in their local markets.
GiG is currently live with over 70 brands, spanning over 40 partners in regulated and complex markets across the globe.
As an independent platform business, the company says GiG represents an “attractive high-growth opportunity” having moved to reduce blockers and unlock its potential following the arrival of an experienced executive team, under the stewardship of CEO Richard Carter.
In conjunction with the recent spinout, GiG Software plc has also received a cash injection, ensuring the company is well-capitalized to support its future growth. This capital boost included the repayment of external debt, positioning GiG Software in a stronger possible financial standing to realize its potential and execute on its strategic objectives.
Richard Carter, CEO of GiG, commented: “Today marks a pivotal moment for GiG as we embark on a new chapter of growth and opportunity. The strategic spinout allows us to unlock the full potential of our proprietary technology and provides GiG with the focus, agility, and innovation needed to excel in the B2B space.”
“By standing alone, we can fully commit to delivering value to our partners and investors, all while leveraging the foundations that we have already laid for sustainable long-term growth. This is the start of an exciting new era, with GiG positioned to deliver as a leader in the global B2B igaming industry.”
Phil Richards, CFO at GiG, commented: “GiG represents a very exciting growth story: having full control over our technology stack, combined with management’s vision and the execution of our strategic initiatives, the company is well positioned for success. in addition, the quality of our platform will give us a significant competitive advantage.”
“We’re confident that as we continue to deliver on our strategy, the full value of the potential of this business will be realised.”
Petter Nylander, Chairman of the Board at GiG, added: “Today is the realisation of our long-held confidence in the company’s ability to thrive independently. By focusing exclusively on our technology and full end-to-end services, we are unlocking new avenues for growth and innovation.”
“The board fully believes in the vision and the leadership team driving this business forward. We are confident that GiG is uniquely positioned to capitalise on the immense opportunities ahead, and today’s listing marks the beginning of an exciting journey that will create significant value for our investors.”
Original article: https://www.yogonet.com/international/noticias/2024/10/02/80511-gaming-innovation-group-transitions-to-independent-status-with-nasdaq-listing
