GiG said it supported Casino Time’s launch of an online gaming platform in Ontario. The platform uses GiG’s technology and offers slots, live dealer games and bingo from third-party suppliers; GiG said its sportsbook will launch in the province later this year.
The launch gives GiG a live Ontario platform presence, with sportsbook expansion planned for later this year.
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Phil Richards left his role as Gaming Innovation Group’s chief financial officer in October, according to the report, after two-and-a-half years in the position. He said on LinkedIn that he would become CFO of Chaos in December; the report also said he joined GiG in July 2024.
After two-and-a-half years as finance chief, Phil Richards has left Gaming Innovation Group (GiG). Richards shared the news on LinkedIn on 2 November. He said he left the company in October and joins Chaos, a design and visualisation technology firm, as CFO in December.
Gaming Innovation Group said it plans to close its Alira platform in Spain during 2027 and increase its focus on CoreX. The company expects the closure to generate additional savings and consolidate its technology offering.
Gaming Innovation Group said Alberta’s Gaming, Liquor and Cannabis Commission granted it a technology licence for the province. GiG said the approval allows it to operate there and offer commercial opportunities to its partners.
Gaming Innovation Group reported a €5.22m after-tax loss for the first quarter, with revenue of €9m and adjusted core earnings of €200,000. The company said it is targeting €4.5m in annual cost reductions and moving clients from Alira to its CoreX platform. GiG maintained full-year revenue guidance of €44m to €48m and forecast core earnings of up to €13m.
Gaming Innovation Group said it had agreed to acquire Casinomeister for €3m, with completion expected in June 2024. Casinomeister will keep its brand within GiG Media, and GiG said the deal was expected to have an immediate positive financial impact.