GiG pens deal with Swiss casino

| By Zak Thomas-Akoo
Gaming Innovation Group (GiG) has announced that it has signed a head-of-terms agreement with an unnamed Swiss land-based and digital casino operator.
GiG

Under the terms of the deal, GiG will provide the operator with its player account management platform (PAM) for an initial term of five years, with options for renewal.

The gaming supplier has stated that the full contract is set to be signed in Q1 2023, with an estimated launch date of Q1 2024.

“Partnering with an established and well regarded retail partner in the Swiss market has long been a goal of ours, and this opportunity will allow us to showcase our market-leading technology in another highly regulated but growing market,” said GiG CEO Richard Brown.

The agreement will see GiG’s entry into the country’s gaming market. Due to the country’s chosen “ring-fenced” regulatory model, only existing operators of land-based casinos in Switzerland may receive licences.

Swiss market

In 2018, Swiss voters approved the country’s Gaming Act, which created the provisions of the Swiss regulated market. Following the market launch on 1 January 2019, foreign operators were banned and the offering of online casino games was limited to domestic land-based casino businesses.

in 2018, swiss voters approved the country’s gambling act

There are currently 11 online casinos licensed by the Swiss Federal Gaming Board. According to H2 Gambling Data, Swiss gross gambling revenue (GGR) is projected to grow to €400m (£354m/$430m) by 2024.

Board shakeup

GiG has also announced that the company’s board of directors is to change following the resignation of Michael Ahearne.

Ahearne – who is CEO of SkyCity Entertainment Group – joined the board on 1 April 2022 following the company becoming a GiG shareholder in connection with the supplier’s acquisition of Sportnco Gaming SAS.

SkyCity remains represented on GiG’s nomination committee and will be involved in the proposals for board composition that will occur at the annual meeting of shareholders in May.

“Ahearne has closely followed the development of GiG during this period and is pleased with GiG’s operations and the company’s position within the igaming industry,” GiG said.

“As SkyCity’s chief executive officer, Ahearne will now focus on his commitments to SkyCity in New Zealand and Australia,” the provider continued.

“The board of directors thanks Michael for his contribution to the company.”

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