iGaming technology company Gaming Innovation Group (GiG) has signed an agreement with existing partner GM Gaming Limited in Portugal. GM Gaming operates the Betway sportsbook brand in the European country.
The partnership deal was signed through GiG’s subsidiary Sportnco Gaming, for the provision of Sportnco’s sportsbook and player account management (PAM) for Betway.pt in Portugal. This is the second sportsbook and PAM agreement between GiG and GM Gaming following the successful launch of the tier one operator in France.
“Sportnco has extensive knowledge and experience in delivering complex and highly regulated markets successfully, making them a top choice for operators like GM Gaming looking to migrate platforms or launch in such markets,” the company said in a press statement.
The new agreement will see GM Gaming migrate from its current sportsbook and platform to GiG’s in what the company describes as a booming market. According to Gaming Innovation Group, the Portuguese market has demonstrated high growth across both sports betting and casino with annual growth in 2021 of 32.1% and 29.9% respectively.
We are excited to announce that we have signed a partnership agreement with @betway Group in Portugal for the provision of Sportnco’s Sportsbook and player account management (PAM). @Sportnco2 $GiG#Sportsbook #Sportsbetting #OnlineGaming https://t.co/4VjEF9Rugv— Gaming Innovation group (GiG) (@GIG_online) April 4, 2022
"Sportnco is delighted to be working with the Betway brand in Portugal,” commented Hervé Schlosser, Managing Director of Sportnco. “It makes us very proud when an existing partner places the trust and confidence in our technology to help continue to power their expansion within multiple jurisdictions.”
Additionally, Schlosser believes the deal will permit Sportnco and GiG to strengthen the existing relationship with the long-term partner. The partnership is also set to enhance the Betway brand’s product in this regulated market.
“We're really excited to continue our great relationship with Sportnco, a leading provider in the latest platform and technologies within the gaming sector, with this agreement,” added Raquel Gonçalves at GM Gaming. “We're looking forward to this venture which will strengthen our product offering for the Betway brand in Portugal."
We are happy to share the news that we have now completed the acquisition of leading tier 1 sportsbook @Sportnco2 $GiG#IGamingNews #Sportsbook #Sportsbetting #Platform #OnlineGaming https://t.co/lrrwVlr3Wu— Gaming Innovation group (GiG) (@GIG_online) April 1, 2022
GiG completed its purchase of sportsbook provider Sportnco earlier this month, following a Share Purchase Agreement signed in December last year. The company said last Friday it had received all necessary approvals from relevant authorities, and thus its Board of Directors resolved to finalize the acquisition.
Gaming Innovation Group said it expects the combined company to “enhance and strengthen GiG's position as one of the industry-leading platforms and media providers” with innovative and proprietary products, while also creating one of the largest and fastest-growing providers in regulated iGaming.
“Sportnco's tier 1 sportsbook product is strong, and the acquisition is expected to create attractive commercial, operational, and technological synergies, as well as enable cost savings and accelerated growth,” GiG said in a statement last Friday. The combined company will have “increased profitability, value proposition with ever-increasing growth prospects and further diversification of revenue and geographical reach.”