eference is made to the announcement on 4 August 2020, where Gaming Innovation Group Inc. (GiG) announced it had signed a heads of terms agreement with Grupo Slots LOTBA S.E, Argentina’s premier gaming and entertainment group, to enter the regulated City of Buenos Aires online gaming market.
GiG has today signed the final agreement with Grupo Slots for a full online turnkey solution, which includes the technical iGaming platform, Sportsbook, front-end development, GiG’s data platform & GiG Logic. The minimum contract period is 4 years with an automatic extension for one additional year, and is based on a revenue share model in combination with set up fees.
Grupo Slots is headquartered in San Luis, Argentina, and provides top-of-the-line entertainment and leisure services in more than 20 locations across Argentina, where it operates casinos, gambling & bingo halls, lottery, and also the online gaming website Jugadon.com in addition to hotels, restaurants and convention centres.
Argentina is regulating online gambling on a province by province basis, and Grupo Slots in the process to obtain a license for Buenos Aires City, anticipated to be the largest market within Argentina. The license is expected to be granted early 2021 with go live in Q1 2021.