Gaming Innovation Group has set its sights on central and eastern Europe for expansion after a recent launch in the Balkan nation of Serbia.
It follows the news that Betsson launched its RIZK online gambling portal in Malta earlier this week.
The operator acquired the brand as part of a EUR33m transaction in April 2020, alongside the acquisitions of GiG’s Zest Gaming vertical B2C, which included Rizk, as well as sister companies Guts , Kaboo , and Thrills, and related operational entities.
Betsson became a partner with GiG for a long time, and generated revenues from platform services.
Andrew Valenzia is the Commercial Director at Betsson. He said: “I’m optimistic that Rizk in Serbia will be a success. It’s an exciting market for Betsson Group.”
I would like to thank all the teams for their hard work and dedication in making this entry into the market possible.
The partnership, which currently spans 10 regulated markets in Europe and Latin America, was launched with a similar approach by Rizk in June.
GiG expects online gaming revenues in Serbia to reach approximately EUR120m this year and expects an annual growth rate around eight percentage points.
Marcel Elfersy said that GiG’s Chief Commercial Officer, Marcel Elfersy stated: “Our relationship continues to offer new exciting opportunities as we continue to expand into new markets and emerging markets with Betsson.”
“Serbia, and the wider CEE area is an important growth focus for us. We have built a suite of tailored platform and sportsbook solution that are well suited to meeting and exceeding the expectations of leading operators from their platform partner. ”
GiG’s last quarterly report, released in February, highlighted that revenue had reached “another record high”, after rising by 40 percent year-on-year and closing at EUR31.1m (in 2022: EUR22.1m).
This figure is broken down by GiG Media, which accounted for the largest share of EUR21.7m (up 47 per cent YoY from EUR14.8m), while Platform & Sportsbook saw a revenue increase of 27 per cent to EUR9.3m. (2022: EUR7.3m).
