Gaming Innovation Group signs agreement to expand Ontario footprint

June 25, 2024 9:32 PM
  • Mark Keast, CDC Gaming Reports
June 25, 2024 9:32 PM
  • Mark Keast, CDC Gaming Reports

Malta-based global igaming-tech company Gaming Innovation Group (GiG), which provides products and services to igaming operators in licensed jurisdictions, has signed a deal that will expand its market footprint in Ontario.

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The company has announced a deal with Ventures Lab to provide its igaming platform and AI tools DataX and LogicX in the Ontario market, the fourth such platform partnership for GiG in Canada’s most populous province.

Ventures Lab is an international company that provides a full range of igaming services and products for both casino and sports, including a variety of payment and risk-control systems, CRM, and marketing tools.

One of the advantages in a market as diverse as Ontario, according to a statement from GiG, is its highly scalable platform and gamification layer that create a casino experience tailored to regional preferences, key in maximizing client retention and player engagement. GiG’s AI tools will play a key part in the partnership as well, with a growing emphasis on AI in the industry.

“GiG is continuing to attract experienced partners who trust in our ability as the technology partner to drive efficiency and profitability in their operations,” said Andrew Cochrane, Chief Business Officer at GiG. “This agreement further underpins our powerful strategy to capitalize on the overwhelming potential within our market leading solutions, forming strong new partnerships in core regulated markets, with the intention of reaching and exceeding our ambitious growth targets for the business.”

To put it into context, Ontario saw a 78% increase in total wagers ($63 billion) for fiscal year 2023-24, compared to the previous year, according to a market performance report issued in April by iGaming Ontario (period covering April 1, 2023, through March 31, 2024).

In terms of total gaming revenue, the market saw $2.4 billion for the full fiscal year (72% increase over FY 2022-23).

“This collaboration will enable us to drive substantial growth and expansion leveraging GiGs vast experience in regulated markets and their leading technology,” said Carlos Strazzer, Chief Executive Officer at Ventures Lab, in a statement.