Online gambling organisation Gaming Innovation Group (GiG) has signed its first external sportsbook contract, after agreeing a deal with MRG’s Latvian entity 11.lv.
The multi-year extension to its existing deal, hailed as a “milestone” by GiG, will see the provision of the firms new GiG Sports Betting Services, including GiG Goal, GiG Trader and GiG Sports Connect.
Robin Reed, CEO of GiG, stated: “We are delighted to have signed with MRG, to provide its brand 11.lv with our new cutting-edge and flexible sports betting services, and to support 11.lv´s expansion.
“It is also a milestone for us, having signed our first external contract for the new sportsbook. 11.lv is an existing customer of GiG, and we will continue our successful collaborations to create an outstanding betting experience for its end users, and grow the sports betting vertical together.”
Further details of the new, extended deal sees the agreement based on revenue share, with an expectation of it going live sometime in the fourth quarter of this year.
Financial expectations of the deal has GiG predict a “marginal contribution” to overall revenues in 2018, with an increase in 2019 and beyond.
Janis Tregers, CEO of 11.lv, explained: “Adding GiG Sports products to our offering is an exciting moment for 11.lv on several fronts. First of all, we have always believed differentiation is the key to success in our industry.
“The flexibility of trading and odds-making tools built into this platform, will allow our experienced bookmaker team to create an odds-offering which is truly unique and tailored to what customers in our market demand.
“Secondly, the all new mobile first front end. Although it can be seen as merely a recognition of where the industry has found itself today, we are confident the functionality and user experience of the new product will allow us to become the operator of choice, as the industry continues to embrace the new mobile reality.
“Finally, the partnership with the team at GiG gives us full confidence the product will continue to evolve and provided the need, we will have the support and know-how required to grow our business further, in our current market or any new ones.”