GiG puts an end to European media group agreement
Gaming Innovation Group (GiG) revealed that it has put an end to its platform deal with a European media group which remained unnamed. The firm stated that the deal was terminated due to the group’s plans to pursue a white label model as opposed to its own licence.
The primary agreement was signed back in December of last year, when GiG had agreed to share its platform with the group as well as some other services.
The unnamed group apparently insisted on utilizing a white label licence to run its operations, even though it was previously working on applying for its own, which ended up with GiG stating that the deal was not practical for either side anymore.
In 2019, GiG chose to stop supporting the white label model, meaning that this agreement had to be brought to a close.
CEO of GiG, Richard Brown, noted:
“The change in strategy has led to an impasse for us to move forward together. While unfortunate to terminate this agreement, we wish them well and we continue to move forward on a multitude of our own opportunities”.
GiG is now maintaining that this decision will not be impacting the firm’s 2021 financial expectations, or even its financial planning for the future as time goes on.