Gaming Innovation Group (GiG) officially started trading under the name GiG Software plc at the start of October, marking a major turning point for the company.
GiG initially operated as a subsidiary of Gentoo Media Inc but has now transitioned into an independent business-to-business (B2B) iGaming technology provider.
The decision to operate separately allows GiG to streamline its operations and focus on leveraging its own tech more effectively to deliver better services.
GiG is in a stronger position as an independent company to offer its partners advanced tools that can be used to navigate the highly competitive iGaming market.
The firm boasts a vast portfolio that includes gaming platform CoreX, the sportsbook SportX and the social casino sweepstakes platform SweepX.
These products are designed to help GiG’s partners stay ahead in the industry and potentially capitalise on any market opportunities that may arise.
Having assembled a fresh team of experienced leaders, GiG is ready to take on the iGaming industry and continue its growth as an independent company.
GiG joins other industry giants in US stock market
GiG has made some key changes in how its assets are distributed to shareholders, approving the use of Norwegian Depository Receipts (NDRs) and Swedish Depository Receipts (SDRs).
The SDRs of GiG have been listed on the NASDAQ stock market, which allows investors to easily access shares in the newly independent company.
The NDRs will not be listed on any stock exchange in Norway, but investors who want to trade those shares will have an opportunity to convert them into SDRs through banks or brokers. GiG also plans to list the NDRs on the Euronext NOTC market so investors can access the company’s shares.
The company has also joined other industry giants in the United States (US) stock market, including online gaming titans Flutter Entertainment.
The Republic of Ireland-headquartered company has been making the headlines for its ambitious financial targets, especially in the US through its FanDuel brand.
However, the firm is better known for its exploits in Ireland, where its innovative marketing tactics have sparked massive growth in the gaming sector.
Many of the brands listed on comparison platform Casino.com IE have taken inspiration from Flutter-owned sites, highlighting their impact on the industry.
The Irish firm’s recent listing in America was a clear statement of intent, signalling their ambition to solidify their presence Stateside and accelerate their efforts to go global.
The iGaming juggernauts have also announced plans for nearly $3 billion in mergers and acquisitions (M&A) activities and a major $5bn share repurchase program.
Such moves indicate that Flutter is keen to increase its growth and return value back to its shareholders, while the company’s various online platforms are poised to benefit from its initiatives.
Flutter is focused on expanding its market and improving user experience, making the company a formidable force in the iGaming industry.
Major cash boost paves the way for GiG’s future growth
GiG’s decision to break away from Gentoo Media was accompanied by a massive cash injection that put the company in a strong financial position.
The financial boost will allow GiG to focus on its core business goals, such as reducing external debt and investing in modern technology and services.
Eliminating operational obstacles will help the company set itself up in a way that allows it to tap into its full potential and expand its presence in the global iGaming market.
With over 70 brands and more than 40 partners in several regulated markets around the world, GiG has established itself as a leading end-to-end tech provider in the iGaming sector. Its platform offers modern, scalable and secure solutions designed to meet the needs of its partners.
The company is committed to providing flexible, high-quality services, which have become a trademark of its operations. It has paved the way for its partners to offer services that cater to the customers’ demands.
In addition to tech advancements, GiG has prioritised compliance and integrity in the iGaming industry. Many of its brands are licensed by the United Kingdom Gambling Commission, which is a major regulatory body in the iGaming sector.
The licensing boosts GiG’s reputation and ensures that the company adheres to regulations, thus building trust with its partners.
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