Igaming technology company Gaming Innovation Group (GiG) has announced the signing of a head of terms agreement with Argentinian based lottery and gaming operator Grupo Slots, that will see it enter the Buenos Aires online gaming market.
Under the terms of the deal GiG will provide Grupo Slots with a full online turnkey solution, which includes the technical igaming platform, sportsbook, front end development, GiG data platform and GiG Logic .
Effective for a minimum period of four years, the contract includes an automatic extension for one additional year and is based on a revenue share model in combination with set up fees.
GiG CEO Richard Brown said: “I am extremely excited to partner with and onboard Grupo Slots, we see a great potential in the regulated environments within Argentina as that market is in the early transformation from offline to online gambling, and to partner with one of the largest and premier land based operators in the market is great opportunity to showcase our product in the LatAm market while delivering the platform for online gambling transformation for Grupo Slots.”
As it stands, Argentina is regulating online gambling on a province by province basis. It is expected that licenses will be awarded to Grupo Slots for the city of Buenos Aires, which in turn is anticipated to be the largest market within Argentina, in the later part of 2020 which will be followed by the online launch.
Juan Ignacio Torres, General Manager of Grupo Slots, added: “We are extremely pleased to have reached this agreement with a company like GIG, an international company with extensive experience, which demonstrates a high level of seriousness and excellence in the field of online gaming.
“On our part, we also contribute 35 years of experience, innovation, infrastructure and knowledge of the Argentine gambling market, currently being one of the few operators with an online gaming presence. This agreement complements us and gives us a tool of quality and excellence to continue growing in this market with so much future potential.”
