Gaming Innovation Group Inc. (GiG) has today agreed to terminate the platform agreement with a European media group that was entered into in December 2020, ref. announcement from 7 December 2020.
Wholesale changes in strategy on the media group's approach towards operating on their own license has created a situation where the partnership was no longer viable for either party to move forward. GiG took the decision in late 2019 to not support the white label model going forward and given this shift by the client, GiG has accepted to terminate the agreement.
The termination will not impact the Company's financial forecasts for 2020 or the long-term financial targets. The current client onboarding program and continuing depth in the sales pipeline remains strong.
Richard Brown, Chief Executive Officer of GiG says:
"The change in strategy has led to an impasse for us to move forward together. While unfortunate to terminate this agreement, we wish them well and we continue to move forward on a multitude of our own opportunities"
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
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