GiG to Provide Online Gambling Solution to Grupo Slots in Argentina
GiG will furnish Grupo Slots with a comprehensive online all-inclusive solution to commence online gaming operations in Buenos Aires. The solution will incorporate a technological gambling platform, sports wagering and front-end development, along with GiG’s data platform and GiG Logic operating system.
The arrangement will endure for a minimum of four years, with an automatic one-year extension, and is founded on a revenue-sharing model with a fixed fee. GiG declared that it anticipates finalizing the agreement prior to the conclusion of the third quarter.
Grupo Slots is situated in San Luis and operates casinos, betting and bingo venues in more than 20 land-based locations in Argentina. The group also maintains an online gambling operation through its Jugadon.com website.
“We perceive substantial potential in the regulated environment in Argentina, as the market is in the initial stages of its transition from offline to online gambling,” remarked Richard Brown, Chief Executive Officer of GIG.
This is a fantastic opportunity for us to showcase our goods in Latin America,” stated Juan Ignacio Torres, Chief Executive Officer of Grupo Slots. “We’re collaborating with one of the largest and most prosperous land-based gaming enterprises in the industry, and this will assist them in transitioning into online gaming.”
Torres continued, “We’re thrilled to join forces with GiG, a worldwide firm with extensive experience and a proven track record in online gambling. We possess 35 years of expertise, innovation, infrastructure, and comprehension of the Argentinian gambling market. We’re one of the few operators with an online gambling operation. This agreement is ideal for us, providing us with a high-quality tool that will aid us in expanding in this market with significant potential.”
Argentina is regulating online gambling on a province-by-province basis. Earlier this year, Buenos Aires City authorized regulations for online gambling licenses, aiming to launch them in the final quarter of 2020.
According to GiG, Grupo Slots is anticipated to obtain its license from Buenos Aires City before the conclusion of the last quarter. Following that, GiG will collaborate with them to launch their online gambling solution.
GiG indicated that Grupo Slots is expected to begin generating revenue in 2021.