Gaming Innovation Group Inc. (GIG) has obtained a Class 4 Remote Gaming License from the Malta Gaming Authority for its subsidiary BettingCloud Ltd.. This B2B supplier license allows the Company to supply its sports betting product to other licensed operators.
The first operator to be launched on the BettingCloud license is German facing operator Wetten.com, who signed a platform agreement with GIG’s subsidiary iGamingCloud earlier this year. Wetten is looking to soft launch this week with a full commercial launch expected early Q1 2017.
GIG is currently developing technology to produce proprietary odds through its subsidiary OddsModel AS . The vision of OddsModel is to be the leader in data driven odds. The technology will be commercialized in 2017 and will be integrated onto BettingCloud whom will then offer a range of services including odds feeds, content services, betting engine, risk management and trading tools. The solutions will be sold independently, and can be bundled seamlessly with GIG’s iGamingCloud platform.
Gaming Innovation Group CEO, Robin Reed, comments;
”We have reached a major milestone as we are now a fully licensed B2B gaming service provider for the Sportsbetting vertical. GIG is continuing to branch out in the iGaming value chain and is now a gaming service provider. Having the necessary license, we are now fully focused on the development of in-house odds and technology which will fuel current and new products and services. Within next year, these efforts will fully come into fruition and it will greatly benefit the Company and our clients.”
GIG’s subsidiary iGamingCloud has signed two new agreements for the provision of its platform services. The two recurring revenue share based agreements has a minimum annualized contract value of EUR 600,000 and both operators are expected to go live in Q2 2017, targeting western European markets. One of the operators have proprietary games and will be integrating their games to iGC using iGC’s new game API allowing gaming services providers to integrate to the platform themselves. In total iGC has 24 external clients signed, that in total will operate 31 brands, including GIG’s six brands.