GiG (Gaming Innovation Group) has entered into a partnership with Palasino, a subsidiary of Far East Consortium (FEC), to facilitate the expansion of Palasino’s retail business into the online gaming market. The agreement, scheduled to commence in the first quarter of 2023, has a five-year initial term. Through this collaboration, GiG will provide Palasino with player account management (PAM), front-end delivery, and content management systems (CMS), enabling Palasino to establish its online presence through Palasino.com and explore opportunities in established and emerging markets.
Expanding Opportunities in the Partnership:
Marcel Elfersy, GiG’s Chief Commercial Officer, expresses enthusiasm for the partnership, highlighting the immense potential it holds for both businesses. By leveraging GiG’s technological solutions, Palasino can extend its retail operations into the online realm and tap into new markets. This strategic move allows Palasino to capitalize on the growing trend of online gaming, providing exciting prospects for the company’s growth and expansion.
Confidence in Launching the Online Division:
Colin Chapman Stewart, Director of Gaming at FEC, acknowledges the confidence and capabilities that partnering with GiG brings to TWHE and Palasino, along with their shareholders. With the support of GiG and its licensed operations in Malta, TWHE can confidently launch its online division, backed by an MGA (Malta Gaming Authority) license. This collaboration paves the way for Palasino to introduce its brand to international players, marking an exciting milestone for the company.
GiG’s Digital Transformation Partnerships:
The collaboration with Palasino signifies the ninth traditional retail operator to select GiG as a partner in their digital transformation journey. GiG has established itself as a trusted provider of cutting-edge technological solutions, empowering traditional gaming companies to expand into the digital space. This successful track record further strengthens GiG’s position as a leader in the industry and emphasizes its expertise in facilitating digital transformations.
Background on Far East Consortium (FEC):
Far East Consortium, a Hong Kong-based specialist in international development, acquired TWHE in 2018. With a portfolio comprising diverse casinos and boutique hotels across Europe and investments in Germany, the Czech Republic, and Austria, FEC has been actively pursuing expansion opportunities. By partnering with GiG, FEC can leverage GiG’s expertise to drive the online growth of Palasino and strengthen its position in the gaming industry.
GiG’s Acquisition of AskGamblers:
In a notable move, GiG recently acquired AskGamblers for €45 million ($47.9 million). This strategic acquisition further enhances GiG’s presence in the online gaming sector, expanding its offerings and solidifying its position as a comprehensive provider of gaming solutions. AskGamblers is a renowned affiliate website providing a platform for players to review and compare online casinos, adding value to GiG’s portfolio of services.
The partnership between GiG and Palasino represents a significant opportunity for both companies to capitalize on the expanding online gaming market. Through GiG’s innovative PAM, front-end delivery, and CMS systems, Palasino can venture into the digital space, attract a wider international player base, and drive its growth. This collaboration further highlights GiG’s expertise in assisting traditional retail operators in their digital transformations. With the support of FEC and GiG’s technological solutions, Palasino is well-positioned to thrive in the online gaming landscape.