Gaming Innovation Group Partners With SKYCITY Entertainment Group Limited
May 22, 2019, 05:03 ET
STOCKHOLM, May 22, 2019 /PRNewswire/ -- Gaming Innovation Group Inc. (GiG), has signed a long-term agreement with SKYCITY Malta Limited, a subsidiary of New Zealand based SKYCITY Entertainment Group Limited (SKYCITY), for the provision of its turnkey online casino solution including a gambling licence. The turnkey solution includes the technical platform, fully managed services, gaming content, front end development, CRM, compliance and marketing. GiG will operate the online casino site from Malta on behalf of SKYCITY, offering online gambling to consumers in New Zealand.
GiG will support the expansion of SKYCITY's growth in its new vertical of online casino, powered by GiG's cutting-edge technology, flexible architecture and industry know-how.
SKYCITY is a listed company in both New Zealand and Australia and is New Zealand's largest and most renowned tourism, leisure and entertainment company with casino gaming facilities in both countries. There are currently six land-based casinos operating in New Zealand, of which SKYCITY owns four.
The vision for SKYCITY, is to be the leader in gaming, entertainment and hospitality in its communities. One of the cornerstones in its corporate responsibility mission is the importance of responsible gaming.
All gambling which takes place in New Zealand is regulated by the country's Department of Internal Affairs. The general expectation is that the country will regulate online casino gambling in the foreseeable future.
The launch of the online casino offering is planned for Q3 2019, GiG does therefore not expect a material impact on its revenues this year. However, this partnership is expected to make a significant positive contribution to GiG's revenues from 2020 onwards.
Graeme Stephens, Chief Executive Officer of SKYCITY says: "SKYCITY is delighted to be partnering with GiG to establish an online casino offering, based in Europe. Growing and diversifying our earnings is a key component of our group strategic plan and developing an online presence to complement our existing land-based casinos in New Zealand will enable us to offer an enhanced gaming proposition for customers. GiG are an exciting and innovative technology company with best-in-class teams, systems, platforms and products and importantly share our focus on responsible gaming and host responsibility. We look forward to working with Robin and the team as we enter an exciting phase of growth at SKYCITY."
Robin Reed, Chief Executive Officer at GiG says: "I am delighted that GiG is partnering with SKYCITY, we share the same high standards and ambitions for a safe, responsible and entertaining gaming experience for the end users. With this landmark deal, we are also entering a completely new continent where we can build on our ambition as the global partner for strong brands in iGaming.
We look forward to supporting SKYCITY in its expansion into the online space, where our full suite of products and solutions all form part of a very competitive offering to its online customers. New Zealand is preparing for regulation of online casino gambling and we are there to support our partner further when it happens."
Note: In GiG's Q4 2018 report, page 10, following statement was made which referred to the agreement with SKYCITY: "GiG is in the process of signing a new major land-based customer which will use GiG for its online expansion."
For further information, please contact:
Robin Reed, CEO of GIG, [email protected] +356-999-903-82
Anna-Lena Åström, GIG Head of IR & Corporate Communications, [email protected] +356-796-998-48
This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, at 11:00 CEST on 21 May 2019.
About Gaming Innovation Group (GiG):
Gaming Innovation Group Inc. is a technology company providing solutions, products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is 'To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, GiG is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
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SOURCE Gaming Innovation Group
