Gaming Innovation Group Inc. (GiG) has today signed a long term contract with SIA Admirāļu Klubs, one of the leading gambling enterprises in Latvia, for the provision of GiG's platform, sportsbook and front-end development to launch their new digital operation in the regulated Latvian market.
Together with related companies, Admirāļu Klubs has experienced rapid growth since its inception and now boasts many gambling halls, making it the market leader in the Latvian gambling industry. The gambling halls serve a wide variety of visitors, in towns and cities across the country tailoring a spectrum of entertainment options to their tastes and interests. To further drive their footprint in the regulated market, Admirāļu Klubs is now taking their operation to the next level by launching a new digital sports and casino brand.
The regulated Latvian online gambling market saw double digit growth in the third quarter of 2020 vs the previous year, with online gambling revenue jumping 16%. Admirāļu Klubs' already established brand recognition and market knowledge, coupled with GiG's technology and expertise in delivering digital excellence for its land based partners puts this new partnership in a prime position to capitalize on the growing opportunity within Latvia.
The sports and casino offering is expected to go live in 2021.The term of the contract is for an initial three year period. This partnership further emphasises GiG's drive to support multiple partners in regulated markets scaling out its tech investment.
SIA Admirāļu Klubs says: "Gaming Innovation Group is well established throughout the iGaming industry as a reliable and trustful technology partner with a history of success working with land-based operators like ourselves. We are pleased to have them supporting our digital transformation and online player acquisition strategy as we expand our operations through the regulated Latvian online casino and sports betting market."
Richard Brown, Chief Executive Officer of GiG says, "GiG is very pleased to be supporting SIA Admirāļu Klubs entrance into the online gambling space for both Casino and Sportsbook, they have a large & successful retail network across the baltics, and provide some of the highest quality retail gambling arcades in Latvia, online gambling has a high growth in the market and we are excited to expand further our reach there."
For further information, please contact:
Richard Brown, CEO, firstname.lastname@example.org,+34 661599025
Tore Formo, Group CFO, email@example.com,+47 91668678
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 Admirāļu Klubs
SIA Admirāļu Klubs is owned by a Latvian investment company with vast market experience, which is part of a joint venture with Novomatic Group (Austria), one of the largest gaming technology companies in the world. Together with related companies, Admirāļu Klubs share a network of gambling halls. In 2012 Admirāļu Klubs entered the Estonian market creating a third company within the group. These gambling halls have become widely known as an established place in the Latvian entertainment market; moreover, the network has experienced a rapid growth becoming the leader of the gambling industry in Latvia. For more information: https://www.alfor.lv/en/ (https://www.alfor.lv/en/company/about-alfor)
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