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Gaming Innovation Group Inc. (GiG) has today signed a long-term agreement with SIA Mr Green Latvia (Mr Green) for the provision of its software platform licence, online casino, sportsbook and front end services for Mr Green’s brand entry into the Latvian market. Mr Green, part of William Hill plc, is one of GiG’s existing partners.
This new agreement further strengthens GiG’s presence in the Latvian market where the Company already supports the sportsbook solution of the 11.lv brand (75% owned by Mr Green). It proves the strength of GiG’s services and collaborative partnership model, supporting the growth of online gambling with new brands and markets. Mr Green will, with GiG’s services, be able to offer its end users a competitive online casino and sportsbook with a unique front end where user experience and differentiation as key.
Mr Janis Tregers, CEO Mr Green Latvia, says: “This is an exciting moment for the William Hill Group business in Latvia, where we move forward with our strategy to introduce a global brand such as Mr Green to the market. We see it as the perfect compliment to the locally well established 11.lv brand, also hosted on the GIG platform. By working closely with GIG and leveraging their technology from product, compliance and other aspects we have been able to propel 11.lv to second position among leading brands in the market. It is now time to make Mr Green a similar success.”
Richard Brown, Chief Executive Officer in GiG says: “I am pleased to announce this expansion of our collaboration and partnership with Mr Green. Latvia is an interesting market for online gambling, we are looking forward to support Mr Green’s growth with a strong, safe and entertaining product.”
The agreement is based on revenue share and is expected to go live in Q2 2020 with a limited contribution on GiG’s overall revenues in 2020, and an increase in 2021 onwards. The Latvian interactive gambling market is expected to grow by more than 35% in the next two years with a market value of approximately 125 million euros in 2022 (Source H2GC).