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Gaming Innovation Group (GiG) has signed a Head of Terms agreement with Ventures Lab, marking its fourth platform partnership in Ontario.
This agreement includes the provision of GiG’s iGaming platform and AI tools, DataX and LogicX, to support Ventures Lab’s operations in the province.
The partnership is designed to leverage GiG’s experience in Ontario and other regulated markets, aiming for a rapid market entry and potential future expansion into multiple jurisdictions.
GiG’s platform offers localised third-party content and integrates suppliers to improve the casino experience for users in Ontario.
The inclusion of AI tools DataX and LogicX is expected to improve decision-making processes and rule-building, which are reportedly essential for player acquisition and customer retention. This focus on artificial intelligence and automation aligns with industry trends toward enhancing operational efficiency.
Ontario’s iGaming market has shown growth, with online gaming revenue for the 2023-24 fiscal year reaching €3.8bn ($4bn), an 88% increase from the previous year.
Andrew Cochrane, GiG CBO, commented: “This agreement further underpins our powerful strategy to capitalise 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.”
Carlos Strazzer, Ventures Lab CEO, added: “This collaboration will enable us to drive substantial growth and expansion leveraging GiG’s vast experience in regulated markets and their leading technology. We’re very much looking forward to delivering an unparalleled betting experience for the Ontarian market and seizing the opportunities this region holds.”
The news arrives after GiG Media rebranded as Gentoo Media after spinning off to operate independently from GiG. Gentoo Media aims to position itself as a standalone business by the second half of 2024. The rebrand follows 13 consecutive quarters of record revenue and strong EBITDA margins.
In addition to the Ventures Lab partnership, GiG has announced other initiatives. These include a partnership with GP Gaming to launch its SportX and CoreX platforms in European markets, including France, pending regulatory approvals.
GiG also signed an agreement to acquire Titan, a provider of SEO and content services, to improve operational efficiency and market position.
