GiG Expands in Buenos Aires with Grupo Slots Alliance

Gaming Innovation Group (GiG) is set for expansion in Argentina after recently signing a head of terms agreement with local gambling company Grupo Slots.

Under the terms of the newly announced agreement, GiG will provide its new partner with a full online gambling turnkey solution that will support its entry in the regulated iGaming market of the City of Buenos Aires.

GiG will supply Grupo Slots with its technical iGaming platform, its sportsbook solution, front-end development, the GiG data platform and GiG Logic. The deal has an initial contract period of four years with an automatic extension for another year.

GiG and Grupo Slots are set to sign a final agreement before the end of this year’s third quarter. The deal is based on a revenue share model and set up fees. Details about the portion of revenue GiG will get from Grupo Slots have not been disclosed.

Grupo Slots is one of Argentina’s leading gaming and entertainment groups. The company boasts more than three decades of experience in the gambling industry. It is headquartered in San Luis and operates more than 20 casino locations, gambling, and bingo halls around its homeland. It also conducts lottery activities and manages the Jugadon.com gaming website. In addition, the company operates hotels, dining outlets, and convention centers.

LatAm Expansion

Grupo Slots is among the companies to have expressed interest in obtaining a license to conduct online gambling activities in Buenos Aires as part of the reorganization of the city’s iGaming market. The company will be looking to leverage its popularity and leading position in Argentina’s land-based gambling market as it expands online.

Commenting on their partnership with the operator, GiG CEO Richard Brown said that they “see great potential in the regulated markets within Argentina”, and that they consider it a great opportunity to partner one of the largest land-based operators there and to be thus able to showcase their product in the LatAm region “while delivering the platform for online gambling transformation for Grupo Slots.”

Grupo Slots General Manager Juan Ignacio Torres said that they are extremely pleased to have teamed up with GiG and that this agreement complements them and provides them “a tool of quality and excellence to continue growing in this market with so much future potential.”

The Buenos Aires legislature passed last year legislation that authorized the reorganization of the city’s gambling market to permit online sports betting and casino activities. The move aimed to create a well-regulated environment and curb the proliferation of unregulated offshore gambling.

The Buenos Aires gambling regulator, Loteria de la Ciudad de Buenos Aires (LOTBA), launched this past February a license application process for operators interested to conduct online gaming and betting activities within city limits. LOTBA said back then that it anticipated first licenses to be issued by the end of the fourth quarter of the year with regulated website launches following shortly.

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