aming Innovation Group (GiG) signed on Wednesday a long-term agreement with Tipwin for the provision of GiG’s platform, data platform, and GiG Logic. Tipwin will use GiG to power its new casino offering under its own licenses from the Maltese and Swedish Gaming Authorities. The agreement is based on a revenue share model with a minimum contract term of 3 years.
Tipwin, founded in 2011, offers multi-channel sports betting both offline and online under one brand. Tipwin currently operates more than 1,500 retail betting shops throughout Europe, which along with their sponsorship of two of Germany’s first league football teams, Bayer 04 Leverkusen and Eintracht Frankfurt, makes them one of the most recognizable operators in the German retail betting market. Tipwin will be integrating GiG’s casino platform technology into their new next-generation sportsbook platform, which has been developed entirely from scratch, to capitalize on further digital transformation from retail to online gambling, in anticipation of the nationwide German regulation for online casino and sports betting in 2021.
The casino offering is expected to go-live during Q4 2020, and this partnership is expected to make a positive contribution to GiG's revenues from 2021 onwards.
Ivica Batinic, Chief Executive Officer of Tipwin said: "Integrating GiG’s leading casino technology into our next-generation proprietary sports betting platform will allow Tipwin to round up its overall iGaming product portfolio. During the last 9 years, Tipwin successfully built up its land-based business throughout Europe, is now one of the fastest-growing sportsbook operators in Europe, and developed a strong technology portfolio including our proprietary hardware for sports betting shops. Partnering with GiG in the area of casino technologies will complete our online products and help to offer an unmatched 360 degree online and retail product portfolio to our customers and partners."
Richard Brown, Chief Executive Officer of GiG said: "We are delighted to have partnered with Tipwin for the provision of our iGaming platform and casino offering. Tipwin has been a successful retail sportsbook operator for over 9 years and we look forward to supporting them in their expansion into the online casino space. We see strong potential in linking up with a brand with a large existing retail customer base and anticipate further growth in the number of casino customers in the German market post-regulation in 2021, therefore partnering with an existing retail offering will enable further capture of the expected transition of customers from land-based to online gaming."