Gaming Innovation Group

Gaming Innovation Group Inc. (GIG) is a public company headquartered in Malta that operates GiG Core, a cloud-based online gaming platform software formerly known as iGaming Cloud.

Gaming Innovation Group Inc.
Formerly
Donkr International Ltd.
(2008-2012)
Public company
Traded asOSE: GIG
ISINUS4593781051
IndustryOnline gambling, B2B, sports betting
Founded2008 (2008)
FounderRobin Reed and Frode Fagerli
Headquarters
Malta
Number of locations
Malta, Marbella, Oslo, Kristiansand, Gibraltar, Copenhagen
Area served
Worldwide
Key people
Morten Hillestad
(Chief Strategy Officer)
ProductsiGaming Cloud
Rizk
Thrills Casino
Guts.com
Kaboo Casino
Betspin Casino
SuperLenny
Highroller.com
Revenue €39.9 million[1] (2017)
€3.5 million (2017)
€1.9 (2017)
Total assets €205.7 million (2017)
Total equity €108.8 million (2017)
Number of employees
650 (2017)
SubsidiariesLes Encheres Bidou Inc., Betit Group Ltd., GIG Media, iGamingCloud Ltd., Flamingo Intervest Ltd, Tempest Microsystems, Inc., Rebel Penguin ApS
Websitewww.gig.com

GiG is a US registered company operating in Malta and five further locations across Europe (Marbella, Oslo, Kristiansand, Gibraltar, Copenhagen). The company is listed on the Oslo Stock Exchange under the ticker symbol ‘GIG’ and on Nasdaq Stockholm under the ticker symbol 'GIGSEK'.

History

Gaming Innovation Group Ltd. was incorporated as Donkr International Ltd. in 2008 in Malta. It was the holding company of Innovation Labs Ltd., the trading company operating the online poker forum Donkr.com. On 2012, Frode Fagerli and Robin Reed had become the owners of the company and named it Gaming Innovation Group Ltd.[2][3]

In 2012, Guts Gaming Ltd. (now MT SecureTrade Limited) was incorporated as a fully owned subsidiary of Gaming Innovation Group Ltd. On May, 2013 the company launched Guts.com, a website offering sports betting and casino games.

In 2014, MT Securetrade Ltd. obtained remote gaming licenses from the United Kingdom Gaming Commission (“UKGC”) and from the Malta Gaming Authority (MGA) allowing the company to sign up payment and game vendors and contract directly with players as a full-fledged online gaming operator.

In early 2015, the fully owned subsidiary (at that time an inactive company) H2Hpoker Ltd. was renamed iGamingCloud Ltd. and launched a B2B platform service for the iGaming industry. The product went live in February 2015.[4] On February, 2015 Gaming Innovation Group and Nio Inc. has signed a Share Exchange Agreement to exchange the entire issued share capital of Gaming Innovation Group Ltd. for shares in Nio Inc.[5] Subsequently, Nio inc. adopted the name of Gaming Innovation Group Inc. and appointed Robin Reed as its new CEO.[6]

Gaming Innovation Group was listed on the Oslo Stock Exchange in June 2015.[7][8][9] As of November 2017, the company had a market value of more than 4 billion NOK on the Oslo Stock Exchange.[3]

In January 2016, the company has launched a new brand Rizk.com, a portal to offer online casino games.[10] Later, in March 2016, the company acquired the sports betting company OddsModel AS for a consideration of 21.74 million new Shares.[11][12][13]

On June, 2016 Gaming Innovation Group acquired Betit Holdings for €54 million.[14][15] At the end of 2016, Gaming Innovation Group has obtained a Class 4 Remote Gaming Licence from the Malta Gaming Authority for its subsidiary BettingCloud Ltd.[16][17]

On September, 2017 for a total amount of €13 million the Gaming Innovation Group through its subsidiary GIG Media acquires Rebel Penguin, the technology driven Danish performance marketing company.[18]

On November, 2017 Gaming Innovation Group announced the opening of new game studio, GIG Games.[19][20]

In January 2018, the company has opened a new headquarters in Malta.[21][22]

On 26 March 2019, Gaming Innovation Group began trading on the Nasdaq Stockholm under the ticker symbol 'GIGSEK'.

As of August 2019 Gaming Innovation Group has sold its 'High Roller' brand to Ellmount Gaming and have stated that their core focus will be primarily on growing Rizk as a casino brand and Guts as a sports betting brand.[23]

Organizational structure

GiG is a US corporation incorporated in the state of Delaware with its registered offices in Bokeelia, Florida, USA, where accounting is located. GIG is a holding company with all commercial activities being carried out by its subsidiaries.

GiG has been registered in the Norwegian company registry as a “Norwegian Registered Foreign Entity” (NUF) with the organization number 988 015 849.

See also

References
  1. "GAMING INNOVATION GROUP Q4 2017 interim report" (PDF). Archived from the original (PDF) on 23 March 2018. Retrieved 20 March 2018.
  2. Eliese Laustsen (August 29, 2015). "Satset 30 euro på poker: Nå er selskapet deres verdt 800 millioner" (in Norwegian). Dagens Næringsliv. Retrieved 21 March 2018.
  3. Erlend Kjernli (November 4, 2017). "Robin Reed ble rik på gambling". ABC Nyheter (in Norwegian). ABC Nyheter. Retrieved 22 March 2018.
  4. "Ahma Venture Holding Limited partners with Gaming Innovation Group". Yogonet.
  5. "Nio to merge with Gaming Innovation Group". iGaming Business. February 16, 2015. Retrieved 20 March 2018.
  6. Ted Menmuir (June 8, 2015). "Gaming Innovation Group appoints Robin Reed CEO". SBCNews. Retrieved 20 March 2018.
  7. Roy Pedersen. "Young CEO on the Norwegian stock exchange: We are just getting started". All-In Translations. iGaming Business. Retrieved 22 March 2018.
  8. "Who Are We". gig.com. Retrieved 20 March 2018.
  9. Camilla Hellum (January 12, 2016). "Bygger nytt spillmerke på norske tv-kanaler". Kampanje. Retrieved 21 March 2018.
  10. Thomas Gulbrandsen (January 6, 2016). "Aksjekomet med rizky business" (in Norwegian). Nettavisen. Retrieved 21 March 2018.
  11. Eline Hvamstad (March 22, 2016). "GIG kjøper selskap". Hegnar Online. Retrieved 22 March 2018.
  12. "Gaming Innovation Group kjoper oddsselskap" (in Norwegian). Nettavisen. March 22, 2016. Retrieved 20 March 2018.
  13. "Gaming Innovation Group to acquire OddsModel". iGaming Business. March 23, 2016. Retrieved 20 March 2018.
  14. Asgeir Aga Nilsen (June 30, 2016). "GIG kjoper opp spillselskap". Nettavisen. Retrieved 21 March 2018.
  15. "Gaming Innovation Group to acquire Betit". iGaming Business. June 30, 2016. Retrieved 20 March 2018.
  16. "GIG picks up Malta licence for BettingCloud". iGaming Business. December 23, 2016. Retrieved 21 March 2018.
  17. Luke Massey (December 21, 2016). "GIG obtains gaming licence to supply its sports betting services". SBCNews. Retrieved 21 March 2018.
  18. "Gaming Innovation Group acquires Rebel Penguin". maltaigamingsummit.com. SiGMA. September 11, 2017. Retrieved 20 March 2018.
  19. Martine Holoien (November 27, 2017). "Gaming Innovation Group lanserer "GIG Games"". Hegnar Online (in Norwegian). Hegnar Media. Retrieved 20 March 2018.
  20. "Gaming Innovation Group unveils new studio". iGaming Business. November 27, 2017. Retrieved 20 March 2018.
  21. "GiG celebrates grand opening of new headquarters in Malta". Times of Malta. January 28, 2018. Retrieved 19 March 2018.
  22. "Gaming Innovation Group celebrates grand opening of new Headquarters in St. Julian's Malta". Malta Today. January 20, 2018. Retrieved 22 March 2018.
  23. "Rizk Casino review". ukcasinoawards.com. UKC. August 15, 2019. Retrieved 15 August 2019.
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