iGaming technology company Gaming Innovation Group Inc. (GiG) signed on Thursday, via its subsidiary Sportnco, an additional agreement with an existing partner for the provision of its sportsbook and player account management (PAM) in Colombia. This deal update makes it the third regulated market where it provides both software and services to the client.
Sportnco is already active in Colombia with its PAM for another client, and this deal marks the first launch of the sportsbook in the country, allowing the tier one operator to launch with the full, end-to-end software offering.
Hervé Schlosser, Managing Director of Sportnco Gaming Group, said: "The growing demand is a clear sign that we have created a Sportsbook solution that is recognized as an industry leader within the iGaming industry. It makes us very proud that a leading tier one operator has once again placed trust in our technology and services for another market. We are looking forward to strengthening our relationship with our long-term partner in Colombia"
We’ve signed another deal with an existing tier 1 partner for the provision of our sportsbook and PAM in Colombia, making it now the third regulated market where we provide both. https://t.co/3eLNyo1Xd9#Sportsbook #Sportsbetting #Platform #OnlineCasino #iGaming #Sportnco $GiG pic.twitter.com/WhZrEK6MDH— Gaming Innovation group (GiG) (@GIG_online) June 9, 2022
In a press release, the company described the Colombian market as a lucrative and fast-growing one for the industry. In 2021 online gross profits were reported at $420 million, according to H2 Gambling Capital, of which 56% is coming from sports betting and growing at an enticing 120% YoY.
"GiG and Sportnco have extensive knowledge and experience in delivering complex and highly regulated markets successfully, in particular across LATAM. The focus is aimed at driving positive margin on behalf of customers, making them a top choice for operators looking to launch or migrate gaming operations in such markets," the company stated in a press release.
Earlier this week, GiG announced it signed a head of terms agreement with US-based sports betting brand Crab Sports to provide its Platform and Sportsbook solution in Maryland. This is the first deal in the country for the new and expanded offering of GiG and Sportnco, since a merger was completed in April, and "provides an example of the potential of the combined product offering," according to a press release.