OSLO, Norway, July 1, 2022 /PRNewswire/ -- Gaming Innovation Group Inc. (GiG) has signed an agreement with a brand new partner Caravel Entertainment Limited (Caravel), best known for operating the 'Moosh' brand in Portugal, to provide its award winning sportsbook and platform.
The deal, which represents a continued strengthening of GiG's targeted strategy in fast growing regulated markets, 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.
The agreement has been signed between GiG's subsidiary Sportnco Gaming and Caravel for an initial period of three years, that could be further renewed for additional periods.
The Portuguese market has demonstrated high growth across both sports betting and casino, with an 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.
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."
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 a strong support for our business, and we are convinced our players will appreciate the new 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 Casino as well, whilst scaling up the offering in other regulated markets inside and outside of Europe."
For more information:
Richard Brown, CEO GiG, richard.brown@gig.com, +34 661599025
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, sportbook 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
About Caravel Entertainment Limited
Moosh.pt, a sport and casino brand operating in the Portuguese market, is owned and operated by Caravel Entertainment, a privately held licensed Sports betting and Casino operator.
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SOURCE Gaming Innovation Group
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