Leading iGaming technology company Gaming Innovation Group (GiG) has inked a deal with sports betting and gambling operator Caravel Entertainment through GiG’s subsidiary Sportnco. According to the agreement, GiG will be allowed to use Caravel’s Moosh brand that handles online casino and sportsbook operations in Portugal. According to GiG, Mooshe will attract lightning-fast revenue growth as a result of moving its operations from Caravel’s platform to GiG’s technology.
The Three-Year Contract Brings GiG a New Partner to the Portuguese Market
The agreement between the two parties has an original three-year duration, with an extensive waiting on the table at the end of the contract. GiG has this way attracted its third partner in the iGaming market in Portugal which has already proven its amazing potential. Last year, the market recorded amazing figures for both casino gaming and sports betting sectors, with annual growth numbers reaching 30% and 32% respectively.
With its impressively extensive expertise and know-how in delivering solutions to successful markets, GiG cleverly anticipated the commercial potential of Portugal and decided to act. The company also took advantage of the incredible momentum that has turned them into one of the most reliable partners like Caravel in its search of platform migration solutions.
The company is now getting ready to see Mooshe’s database move from Caravel’s technology to its own platform through a merger. The procedure will be completed sometime during the fourth quarter of the year.
The managing director of Sportnco Gaming Hervé Schlosser expressed the subsidiary’s pride in sealing the deal with Moosh, a “new GiG customer in the demanding and attractive Portuguese market”. Schlosser also called the official Moosh.pt website in Portugal a platform with “great ambitions domestically”. He added there was no doubt that they were “perfectly positioned to be able to respond positively” to the fresh dynamics brought in by the ever-expanding operator in the country. Sportnco is an iGaming and sports betting business present in the US, Europe, and South America that was purchased by GiG in December 2021.
Moosh Has Found the Right Partner
Moosh’s chief executive officer Martin Bengtsson called the process of searching for the right partner “a long process” that came to an end once the new deal was sealed. He also referred to Sportnco’s “top-notch sportsbook offering” that is expected to provide it with a lot of support. Moosh also anticipates its players to highly appreciate the freshly updated sportsbook that will go live soon.
Bengtsson also reiterated the company’s “high ambitions in the Portuguese market” while explaining the new deal will help them reach their goals a lot quicker. He also spoke about the possibility of scaling up their offerings in additional regulated markets in and out of Europe. In May, GiG and Full Games SA sealed a five-year contract to enter the Angolan iGaming market. At the end of June, Kalamba Games decided to distribute its gaming content via the GiG platform.