Agreement covers operations in the regulated North Macedonian market
Gaming Innovation Group Inc. (GiG) has announced a long-term agreement with existing casino client K.A.K. DOO Skopje (K.A.K.) for the provision of GiG’s sportsbook, including online, over the counter (OTC), omnichannel and on-premise sport solution to launch both its digital and land-based sports betting operations in the regulated North Macedonian market.
K.A.K. and Gaming Innovation Group signed a long-term agreement in September this year for the provision of GiG’s platform, front end solution and managed services to power K.A.K.’s digital casino transformation. Today’s additional agreement follows K.A.K.’s decision to enter Macedonia’s growing sports betting market under their own licence, allowing up to an initial 25 physical sites across the country as well as online operations.
Gaming Innovation Group will provide K.A.K. with its end-to-end sportsbook, delivering an online as well as physical offering through GiG’s over the counter, omnichannel retail solution. Through GiG’s partnership with Betgenius, end-to-end live data, trading and risk management services will also be delivered as part of the agreement. This allows K.A.K. to offer its customers official sports betting content from over 300 competitions including the English Premier League, Serie A and EuroLeague basketball.
The agreement is based on a combined fixed fee and revenue share structure. The sports offering is expected to go live in Q2 2021, and is expected to make a positive contribution to GiG’s revenues from H2 2021 onwards.
Commenting on the agreement, Ognjan Cigovski, chief executive officer of K.A.K. DOO Skopje, said: “Our recent decision to expand into both the retail and online sportsbook market was a natural step for us, building on our successful land-based casino activities and we see it as a very exciting proposition. We can now offer our customers a full suite of products across multiple locations as well as online. We are excited to partner with GiG on this venture. GiG’s product and service offering were a great fit for what we want to achieve in the local sportsbook space”
Richard Brown, chief executive officer of GiG, said: “I am very pleased to expand our partnership with K.A.K. They have secured a local sports betting licence and have exciting growth plans which are highly complementary to their existing premier retail casino presence in the country. By adding our online and OTC sportsbook technology offering to the online casino also powered by GiG, K.A.K’s end users will have a seamless end-to-end experience. We are very much looking forward to working with them to deliver a great product to the local market.”