Early years and 2010s
Gaming Innovation Group Ltd. was initially incorporated in 2008 as Donkr International Ltd. in Malta.[13][14]
In 2012, Guts Gaming Ltd. (now MT SecureTrade Limited) was incorporated as a fully owned Gaming Innovation Group Ltd subsidiary.[15] In May 2013, the company launched Guts.com, a website offering sports betting and casino games.[16]
In early 2015, iGamingCloud Ltd., a B2B platform service for the iGaming industry, was launched (GiG Core). The product went live in February 2015.[17] In the same month, Gaming Innovation Group and Nio Inc. signed iGaming Cloud and sportsbook (GiG Sports) supported by GiG's fully managed services.[18]
In May 2015, Optimizer Invest acquired 10% of iGaming Cloud Ltd for consideration of €1m.[19] In addition, there was a Share Exchange Agreement to exchange the entire issued share capital of Gaming Innovation Group PLC. for shares in Nio Inc.[20] Subsequently, Nio inc. adopted the name of Gaming Innovation Group Inc. and appointed Robin Reed as its new CEO.[21] The month after, Gaming Innovation Group was listed on the Oslo Stock Exchange.[22]
The company expanded into the affiliate industry in iGaming by a series of acquisitions. GiG subsidiary Innovation Labs (GiG Media) acquired affiliate network Spaseeba for 27m GiG shares.[23] GiG Media also acquired affiliate networks in respectively Finland and Estonia.[24][25]
In January 2016 the company launched the B2C casino brand Rizk.com.[26] Later on in March, the company acquired the sports betting company OddsModel AS for consideration of 21.74 million new Shares.[27] In June 2016 Gaming Innovation Group acquired Betit Holdings adding the three iGaming operators Kaboo.com, SuperLenny.com, and Thrills.com to its portfolio of B2C focused brands (notably Rizk.com and Guts.com before the Betit acquisition). As part of the deal, Optimizer Invest increased its ownership of GiG shares.[28] The company also continued its expansion within the media business by acquiring Dutch affiliate network Delta Markets B.V.[29] as well as Swedish affiliate network Magenti Media.[30]
In 2017, GiG acquired the technology-driven performance marketing company Rebel Penguin ApS for a total amount of €13 million.[31] This acquisition concluded GiG Media being established as a multi-channel affiliate, operating both a publishing unit (organic rankings on search engines) as well as a paid marketing unit. A new B2C brand called Highroller was also launched.[32]
2018 was the signing of a deal with Hard Rock Casino, with an initial launch in Atlantic City, New Jersey.[33] The company also launched its marketing compliance tool targeted at the online gambling segment, GiG Comply.[34] An in-house sportsbook on Rizk.com was launched just ahead of the 2018 FIFA World Cup.[35][36] During the year of 2018, GiG obtained a betting license in the German State Schleswig-Holstein which makes part of the DACH region, a key growth region for the organisation and its Rizk brand.[37] E-sports hub GLHF.GG was signed on GiG Core as well as Sia Mr. Green Latvia for the provision of platform license, online casino, sportsbook, and front end services.[38][39]
In January 2019, GiG launched the Hard Rock omnichannel in New Jersey.[40] On 26 March 2019, the company began trading on the Nasdaq Stockholm under the ticker symbol 'GIGSEK'.[41] GiG Core also signed Metalcasino to its sportsbook offering.[42] An agreement to provide MegaLotto with GiG's technical platform and casino games were also signed.[43] In August 2019, Gaming Innovation Group sold its HighRoller brand to Ellmount Gaming,[44] stating that their core focus will be primarily on growing Rizk as a casino brand and Guts as a sports betting brand. The HighRoller brand was sold for approx. €7m (3.5 PV).[45]
During the year of 2019, Kindred Group was signed on the new GiG Comply product.[46] The company also partnered with Skycity, a market leader in New Zealand, for its online casino platform.[47] In September 2019, GiG launched its digital and retail sportsbook with Hard Rock Cafe International in Iowa.[48][49]
2020s
In April 2020, Gaming Innovation Group divested its B2C operations to Betsson, for a total of €31m with a premium fee on the platform service. From this point onwards, the intention is to be a purely B2B company, focused on its platform services (GiG Core) as well as its media/affiliate services (GiG Media).[50]
In June 2020, GiG signed a long-term agreement with GS Technologies Limited for the provision of GiG's platform and front-end development to a new casino brand with its license from the Maltese Gaming Authority.[51] In the following month, the company signed an agreement with K.A.K. DOO Skopje, Hospitality, tourism, and services company (K.A.K.) for the provision of GiG's platform, front-end development, and managed media services to launch their digital operation in the regulated Macedonian market.[52] In the same month, GiG subsidiary iGaming Cloud Inc. was granted a permanent casino service industry enterprise license (CSIE) from the Division of Gaming Enforcement (DGE) in New Jersey, United States. The application was filed in June 2018 with GiG supporting Hard Rock International's casino operations in New Jersey under a so-called transactional waiver until the final approval was awarded.[53]
