Gaming Innovation Group launching new SweepX solution with leading U.S. partner
ST JULIANS, Malta, May 30, 2024 /PRNewswire/ -- Gaming Innovation Group Inc. (GiG) has announced the launch of SweepX, a revolutionary social sweepstakes casino platform solution for the USA, with the release further bolstered by the announcement of a binding Head of Terms for a strategic partnership with Primero Games LLC, the largest land-based sweepstake operator in the states.
Designed to deliver a cutting-edge solution for the burgeoning sweepstakes market in the US, SweepX combines dual-wallet, store management for redemptions and prize-rewards, with GiG's AI assisted content management technology to provide a prominent competitive advantage to operators across the market, driving significant growth and engagement across social sweepstakes casino gaming.
The landmark agreement will see GiG's market-leading platform technology power Primero into the online social sweepstakes casino market for the first time. Founded in 2009, Primero Games specialises in developing innovative casino software and equipment for the gaming industry,with over 50,000 sweepstakes machines across the US, and also own Storm Games ltd, a UK retail operator and content studio. The collaboration will see Primero leverage its extensive player database to quickly expand into the online social sweepstakes casino market.
SweepX combines GiG's highly successful real-money iGaming platform technology, which is currently live in the US, Europe and across Latin America, with a bespoke sweepstake back office, AI assisted gamification layer and one of the most comprehensive sweepstake casino content libraries available on the market, supporting immediate growth throughout the emerging US sweepstake market.
The sweepstakes gaming market saw enormous growth in 2020 due to pandemic market conditions, and it has continued to grow at a very healthy pace since. It is estimated that the sweeps market generated about $3.1 billion in 2022, and we project that it will continue to grow at a +31% CAGR, reaching $6.9 billion by 2025, as per data shared by E&K.
Andrew Cochrane, Chief Business Officer at GiG Platform & Sportsbook said; "GiG is synonymous with innovation and our SweepX solution is the result of our tireless pursuit of excellence for product innovation across the online sweepstake market. As an extremely experienced turnkey solutions provider, the strength inherent in our technology and services has allowed us to develop what we consider to be the leading platform, data and AI driven solutions available within social gaming, and will help power the growth of the market across the US within the next few years."
Barry Rutherford, CEO at Primero, added; "GiG's world class platform will allow us to bring more content and an experience for our players that is second to none. Combining our unique player acquisition strategy and GiG's innovative technology, we are positioned perfectly for the US market and for iGaming markets across the globe."
For further information, contact:
Richard Carter, CEO Platform & Sportsbook, richard.carter@gig.com
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
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