iGaming technology company Gaming Innovation Group (GiG) announced Tuesday it has inked a new deal with operator Betsson Group to provide its platform in Colombia. The agreement has been signed for an initial period of two years, with the potential to be further extended if desired.
The deal confirms a partnership that was initiated over a year ago, following the takeover of regional operator colbet.co by Betsson in June 2021, and a subsequent agreement to migrate onto GiG’s Sportnco’s platform. Betsson’s activity in Colombia, both online and retail, has significantly increased during the year, underlining the positive contribution of GiG’s player account manager, the tech company says.
The relationship between both parties continues to strengthen, with this agreement now adding Colombia to a growing list of regulated markets the two are now partnered up in, "ensuring the potential for a deepening alliance in the future," according to GiG.
GiG also claims it is steadily consolidating a strong position on the Colombian market, with Betsson being its third partner in the country, and expectations of more to come. The tech solutions provider labels the Colombian market a lucrative and fast-growing prospect for the gaming industry, with online gross profits reported at $420 million for 2021 according to H2 Gambling Capital, growing at 120% YoY.
Moving forward, a successful migration has "encouraged Betsson Group to earmark significant investment in marketing the brand, which should further improve the profitability of the operator in Colombia," according to GiG. The recently announced financial reports’ record "all-time high" results posted by Betsson for Q2 2022, attributing their growth to LATAM markets, "help support the optimism for positive returns."
Hervé Schlosser, Managing Director of Sportnco Gaming, said: “We are delighted to formally announce the agreement with Betsson in Colombia, which underlines the strong geographical footprint we are establishing in LATAM. Both the growing demand for our solutions and our reputation, particularly alongside tier 1 operators Betsson, is a great source of pride for our group and we are full of expectation for the future.”
Andrea Rossi, Commercial Director Southern Europe and Latam at Betsson Group, added: “As part of our rebranding in Colombia, we migrated to GiG’s platform which we are using in some of our other markets. We chose GiG as we believe that they are the best partners with whom we can keep growing in the market of Colombia. We know the platform, its capabilities, and we have a very good relationship with the team and this latest partnership solidifies that connection.”