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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Gaming Innovation Group Inc.    GIG

GAMING INNOVATION GROUP INC.

(GIG)
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Gaming Innovation : and Betgenius join forces in global sportsbook platform deal

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09/04/2020 | 05:56pm EDT

Gaming Innovation Group (GiG) and Betgenius have signed a strategic partnership that creates a fully-integrated sportsbook and platform solution for operators in regulated markets around the world.

The agreement brings together GiG's proven platform technology with Betgenius' end-to-end live data, trading and risk management services as a complete sportsbook. This includes official sports betting content from over 300 competitions including the English Premier League, Serie A and EuroLeague basketball.Betgenius will take on all day-to-day sportsbook management operations, including fully customisable pricing for pre-match and in-play sports, while GiG will provide robust, highly compliant and fast-to-market platform (PAM), technical architecture and front-end development.

The partnership has already signed a Heads of Terms to supply platform and sportsbook software to a major LatAM operator. The final agreement with this operator is expected to be signed in September and will be based on a revenue share model with a minimum contract term of three years.
    
Jack Davison, Chief Commercial Officer at Genius Sports Group, the parent company of Betgenius says: "The Betgenius-GiG partnership is highly complementary for a number of reasons. Not only do our technologies and specialist services dovetail perfectly to create a complete sportsbook platform solution, our values as highly compliant businesses who operate in a responsible way are very much aligned. We're excited to work together."

Richard Brown, CEO of GiG says: "Betgenius is a market leader within sports data as well as having a first-class risk and trading management solution, and I am delighted that they have chosen GiG as their partner to create a sportsbook and platform solution. Combined we will offer a highly competitive offering to the market, already proven by the signing of a Heads of Terms with a major operator. The partnership will also further improve operational efficiency within our Sports segment." 

The partnership will be fully operational by the end of September and will reduce GiG's operating expenses within Sports Betting Services while significantly enhancing product and service offering combined with increased cost efficiencies and scalability.

ENDS

For further information, please contact:
Richard Brown, CEO, richard.brown@gig.com, +34 661599025
Tore Formo, Group CFO, tore@gig.com, +47 91668678
Tom Washington, Marketing Director, Betgenius +44 7495 565 886
 
 
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is `To be the industry leading platform and media provider delivering world class solutions to our iGaming partners and their customers.  GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com

About Betgenius
Founded in 2000, Betgenius is the leading provider of sophisticated data-driven technology and services to over 220 licensed sportsbooks worldwide. Our multi-award-winning data, trading, streaming, BetBuilder, scorecentre and digital marketing solutions are built to help our partners maximise performance and revenues.
 
Betgenius' bespoke solutions empower operators to take total control of their sportsbook in order to create a unique proposition, drive operational efficiency and boost profits.
 
As part of Genius Sports Group, the global leader in sports data, technology and integrity, Betgenius prides itself on being the most trusted partner to the regulated global sports betting sector. We are the official betting partner to over 300 sports leagues and federations worldwide. https://betgenius.com/

https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-and-betgenius-join-forces-in-global-sportsbook-platform-deal,c3189334

https://mb.cision.com/Main/15972/3189334/1302766.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English


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Financials
Sales 2020 80,0 M 93,1 M 93,1 M
Net income 2020 -5,00 M -5,82 M -5,82 M
Net Debt 2020 27,0 M 31,4 M 31,4 M
P/E ratio 2020 -6,98x
Yield 2020 -
Capitalization 62,8 M 73,3 M 73,1 M
EV / Sales 2020 1,12x
EV / Sales 2021 1,15x
Nbr of Employees 487
Free-Float 46,0%
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Last Close Price 7,75 
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Managers
NameTitle
Richard Brown Chief Executive Officer
Johan Petter Erik Nylander Chairman
Tore Formo Group Chief Financial Officer
Justin Psaila Chief Financial Officer
Helge Nielsen Independent Director
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