Gaming Innovation Group (GiG) has taken another step in its plans for European growth, launching its sportsbook platform in Latvia with three betting companies.
William Hill, Mr Green and Fenibet, the former two part of 888 Holdings’ portfolio, have become the first customers of the GiG Sport platform – developed by GiG after acquiring Sportnco back in April 2022 – in the Baltic nation.
The platform features access to 36 markets and has an added focus on localised flexibility, offering tailored odds and strategies as well as personalised margins to meet the requirements of specific regulated markets.
Marcel Elfersy, CCO of GiG said: “This is a very welcome milestone for us on our strategic roadmap, as we start to harvest the enormous potential of our combined sportsbook and platform offering.
“William Hill is one of the most famous brands associated with sports betting worldwide, and so supplying our proprietary technology to tier one providers of their calibre is a great demonstration of the value we are able to offer to the market.”
The triple-agreement marks GiG’s second major commercial announcement of the second quarter, following strong results in Q1 which saw revenue increase by 49% to an all-time record high of €28.4m.
GiG expects its expanded operations in Latvia to further complement Q1 growth, noting that the market grew by 92% year-on-year in 2021, according to H2 Gambling Capital data, which also estimated a five-year compound annual growth rate of 10% by 2026.
Meanwhile, UK legacy betting and gaming group William Hill looks to further enhance its offering in Latvia after first securing access in 2019 via the Mr Green online casino.
William Hill first came to an agreement with GiG to support its Latvian rebranding and reentry back in May 2022, with the bookmaker eyeing up an ‘attractive, user-friendly and competitive’ sports betting and casino product’.
Janis Tregers, Managing Director William Hill Latvia, remarked: “We are glad to offer this new sports betting solution to our customers in Latvia. Our teams have worked closely with GiG to tailor a modern and competitive product to build on our strong position in the market.”