Gaming Innovation Group has entered into a full online turnkey solution agreement with Grupo Slots, an Argentine gaming and entertainment organisation.
The group based in San Luis offers entertainment and leisure services in more than 20 locations throughout Argentina, where it operates casinos, gambling and bingo halls and lottery, as well as boasting its online gaming site Jugadon.com in addition to hotels , restaurants and conference centres.
Grupo Slots is to acquire the complete online turnkey solution from GiG, which includes a technological igaming platform, sportsbook, front end development , data portal and GiG Logic. The initial contract length will be four years with an optional one-year extension, which is based on a revenue sharing arrangement paired with set-up fees. The final agreement is anticipated to be concluded before Q3 ends.
The licence application is scheduled to be approved in the final quarter of the year, and will go live shortly afterwards, with GiG expecting a significant performance from 2021 on.
The general manager of Grupo Slots, Juan Ignacio Torres explained: “We are extremely pleased to have reached this agreement with a company like GIG, an international company with extensive experience, which demonstrates a high level of seriousness and excellence in the field of online gaming.
“On our part, we also contribute 35 years of experience, innovation, infrastructure and knowledge of the Argentine gambling market, currently being one of the few operators with online gaming presence. This agreement complements us and gives us a tool of quality and excellence to continue growing in this market with so much future potential.”
Argentina controls online gaming on a province-by-province basis, with hopes of licences to be given to Grupo Slots for Buenos Aires City, projected to be the largest market in Argentina, followed by the online launch in the later part of 2020.
H2 Gambling Capital reports that Argentina’s total gambling market is worth €352 million, but just seven per cent of the total gambling market is actually online, with substantial growth opportunities driven by regulation, both sides’ eyes.
GiG chief executive Richard Brown commented: “I am extremely excited to partner with and onboard Grupo Slots, we see a great potential in the regulated environments within Argentina as that market is in the early transformation from offline to online gambling, and to partner with one of the largest and premier land based operators in the market is great opportunity to showcase our product in the LatAm market while delivering the platform for online gambling transformation for Grupo Slots.”
We are delighted to share the news with you that we have signed a #platform and #sportsbook agreement with Argentina’s premium gaming and entertainment group @gruposlots$GiG #iGaming #FrontEnd #data https://t.co/4PWMdJlQ9a pic.twitter.com/fAsRfwkTC3