M&A

GiG terminates European media group deal

| By Nosa Omoigui
Gaming Innovation Group (GiG) has announced the termination of its platform agreement with an unnamed European media group over the group's plans to pursue a white label model instead of its own licence.
GiG cancels media group deal

The initial deal was agreed in December 2020, whereby GiG agreed to share its igaming and data platform with the unnamed group in addition to other managed services.

However the media group’s insistence on using a white label licence to operate – after it had previously planned on applying for its own licence – has created a situation where the partnership was “no longer viable for either party to move forward” .

GiG decided in 2019 to no longer support the white label model, which meant the deal was terminated.

GiG CEO Richard Brown said: “The change in strategy has led to an impasse for us to move forward together.

“While unfortunate to terminate this agreement, we wish them well and we continue to move forward on a multitude of our own opportunities”.

GiG insists that this decision won’t affect the company’s financial forecast for 2020, or it’s long term financial planning going forward.

Subscribe to the iGaming newsletter