iGaming technology company Gaming Innovation Group (GiG) signed Friday an agreement with new partner Caravel Entertainment Limited, best known for operating the Moosh brand, to provide it with its sportsbook and platform in Portugal. The agreement was signed between GiG’s subsidiary Sportnco Gaming and Caravel for an initial period of three years, which could be further renewed for additional periods.
In a press release, the company stated that the deal represents a continued strengthening of GiG’s targeted strategy in fast-growing regulated markets, and will see Caravel shift from its existing technology to GiG’s for the moosh.pt site, and as such "will provide immediate revenue opportunities from what is an existing database migration, scheduled to take place during Q4 2022."
Deal signed with Portuguese based brand Moosh, another new partner for our Platform and Sportsbook.https://t.co/NObAXVJZ0w#iGaming, #Sportsbook #Platform $GiG #NewDeal— Gaming Innovation group (GiG) (@GIG_online) July 1, 2022
Hervé Schlosser, Managing Director of Sportnco Gaming, said: "We are very proud to sign this contract with Moosh, a new GiG customer in the demanding and attractive Portuguese market. Moosh.pt has great ambitions domestically and there is no doubt that we are perfectly positioned to be able to respond positively to the new dynamics of this growing Portuguese operator."
Hervé Schlosser, Managing Director of Sportnco Gaming
Martin Bengtsson, Chief Executive Officer at Moosh.pt, said: “It has been a long process to find the right partner for us, which we have found in the sportsbook and platform provider GiG. Their Sportnco subsidiary is well known for their top-notch sportsbook offering so this partnership offers strong support for our business, and we are convinced our players will appreciate the newly updated sportsbook when we go live."
"We have high ambitions in the Portuguese market, and this partnership will surely help us accelerate our plans to reach our goals and ambitions, not only in the sportsbook vertical but in casinos as well, whilst scaling up the offering in other regulated markets inside and outside of Europe," Bengtsson concluded.
GiG described the Portuguese market as having demonstrated “high growth” across both sports betting and casino, with annual growth in 2021 of 32% and 30% respectively (H2 data), providing evidence of its commercial potential.
“GiG has extensive knowledge and experience in delivering complex and highly regulated markets successfully, this being their third Portuguese client alone, fueling the momentum that is making them a trusted partner for operators like Caravel, who are looking to migrate platforms or launch in such markets,” the company stated in a press release.
Our second big story of the day is that the ink is dry on a deal to provide our award winning Platform with a brand new partner in Spain.https://t.co/IZVUWCsEwK#iGaming, #Sportsbook #Platform $GiG #NewDeal pic.twitter.com/Ljh17euHji— Gaming Innovation group (GiG) (@GIG_online) July 1, 2022
Earlier, GiG announced it signed an agreement with a brand new partner in Spain to provide its platform, powering the company's move online. The unnamed partner "already has an established retail business in the region," and the partnership will allow the brand to expand its operations to the iGaming space by the end of this year. The new partner will be GiG’s thirteenth client in Spain.