Tag Archives: GIG

Transitioning GiG faces B2C and B2B declines closing tough 2019

Stockholm-listed Gaming Innovation Group (GiG) has detailed confidence in its future outlook and prospects as the company transitions to becoming a single-focus B2B technology incumbent. This morning, GiG published its Q4 2019 results, recording corporate declines across all major operating metrics and citing a number of factors impacting both B2C and B2B performance. Recording a 26% decline in Q4 2019 …

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GiG divests B2C arm to Betsson AB for €31 million

Issuing a market filing this morning, Stockholm-listed Gaming Innovation Group (GiG) has disclosed that it will divest its entire B2C unit to Betsson AB. The company confirmed that it has agreed terms on a share purchase agreement worth €31 million, consisting of a €22.3 million cash payment for the assets on top of a further  €8.7 million prepaid platform fee. …

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bet365 expands GiG Comply partnership

Stockholm-listed Gaming Innovation Group (GiG) has announced a major partnership renewal as leading UK online bookmaker bet365 extends its existing agreement with ‘GiG Comply’. In 2019, bet365 become one of the first tier-1 betting operators to deploy GiG Comply marketing compliance tools and safeguards. GiG Comply helps regulated incumbents adhere to diverse marketing standards and regulations with its system able …

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GiG lists SEK 400m bond on Stockholm Nasdaq

The governance of Stockholm-listed Gaming Innovation Group (GiG) has confirmed that it has secured the right to float a new SEK 400 million (€40m) bond placement with interest repayments due for  2022. Issuing a corporate filing, GiG governance details that it will begin trading its new bond arrangement on the Stockholm Nasdaq Exchange on 27 December 2019. GiG’s transaction has …

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GiG calls for a strategic review as B2B performance flops

Mirroring industry-wide trends, Stockholm-listed Gaming Innovation Group (GIG) reports that Swedish home market adjustments continue to impact its corporate performance. Publishing its Q3 2019 trading update (period ending 30 September), GiG records a 20% decline in corporate revenues to €30 million (Q32018: 37m). Closing October trading, GiG governance issued a Q3 pro-forma guidance detailing that it had been forced to reduce …

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GiG makes Croatia play by acquiring majority stake in Top Games

Stockholm-listed Gaming Innovation Group (GiG) has this afternoon confirmed that it has agreed to acquire a 75% stake in ‘Top Games d.o.o.’ – a Croatian gambling enterprise which maintains a remote gambling permit. Updating investors, GiG governance states that the agreement will allow the company to launch its in-house B2C brands for the Croatian market, in which GiG will move …

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GiG renews ISO Tech Security certificate

Updating stakeholders, Stockholm-listed Gaming Innovation Group (GiG) has confirmed that it has been accredited with ISO-27001 certification for a further year. Sanctioned by the consumer standards and protections NGO the ‘International Organisation for Standardization’, ISO-27001 is regarded as one of the highest-ranking global IT security certificates for technology enterprises. ISO accreditation follows a review of GIG’s technology stack, analysing the …

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Cost saving GiG shuts down games studio

Stockholm-listed Gaming Innovation Group (GiG) has has halted investments in developing its proprietary ‘GiG Games’ studio, with immediate effect. The closure of the studio has been undertaken in order for GiG to reduce operational expenditures, whilst further returning the group to the core focuses of developing technology platforms and further igaming provisions. In its statement, GiG details that the closure …

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Betfred safeguards marketing arm with GiG comply

Stockholm listed Gaming Innovation Group (GiG), announces Betfred as the latest industry tier-1 incumbent to partner with its GiG comply software. Betfred is set to strengthen compliance dynamics across its digital marketing inventory, integrating GiG Comply provisions, safeguarding regulatory demands by monitoring third party marketing activities. Helping operators adhere to diverse marketing compliance standards across multiple jurisdictions, GiG Comply is …

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GIG ends Robin Reed’s CEO tenure with immediate effect

Issuing a market filing this morning, Stockholm-listed Gaming Innovation Group (GiG) has moved to replace Group Chief Executive Robin Eirik Reed with immediate effect. Updating investors, GiG governance said Reed has officially departed the firm’s executive leadership team as of 5 September and will be replaced by GIG Chief Operating Officer (COO) Richard Brown as interim CEO. The company confirmed that …

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