Gaming Innovation Group (GiG) is getting a boost in Latvia. The gaming company just announced that it has signed an agreement with Sia Admirāļu Klubs in the country to provide its gaming platform, sportsbook and front-end development content to the casino operator as it expands to the iGaming segment. The deal is reportedly good for three years and will officially be in place sometime next year.
GiG has been actively looking at how to capture a larger market segment in various countries, including Latvia. It inked a deal with Mr Green, through its SIA Mr Green Latvia arm, last December and continues to explore new options in the country, as well as across the globe. The newest agreement follows a return of Latvia’s online gambling operations after they were questionably suspended earlier this year because of COVID-19. Given that online gambling is the only alternative that can still provide revenue during a pandemic-inspired shutdown of gaming operations, the move was seen as more than just a little irrational. As was to be expected, the online segment lost around 45% of its gains over the year prior, which severely hurt Latvia’s tax revenue.
Now that the country is coming out of the lockdown, though, GiG and Admirāļu Klubs are ready to turn up the heat. GiG CEO Richard Brown asserts, “GiG is very pleased to be supporting SIA Admirāļu Klubs entrance into the online gambling space for both Casino and Sportsbook. They have a large & successful retail network across the Baltics, and provide some of the highest quality retail gambling arcades in Latvia. Online gambling has a high growth in the market and we are excited to expand further our reach there.”
Admirāļu Klubs has a number of gambling venues spread out across Latvia, which will facilitate GiG’s brand recognition as the operator develops its online market. With gamblers feeling oppressed by the government’s unusual online gaming ban, they’re ready to get into the action as quickly as possible, and having more options to choose from will help the market recover. Admirāļu Klubs is ready to capitalize on GiG’s industry position and a spokesperson for the casino operator states, “Gaming Innovation Group is well established throughout the iGaming industry as a reliable and trustful technology partner with a history of success working with land-based operators like ourselves. We are pleased to have them supporting our digital transformation and online player acquisition strategy as we expand our operations through the regulated Latvian online casino and sports betting market.”