Gaming Innovation Group (GiG) has made its debut in the Balkan nation of Serbia through Rizk, a renowned casino brand owned by Betsson. This strategic move marks GiG’s continued global expansion, providing innovative iGaming technology solutions to operators worldwide. Marcel Elfersy, GiG’s Chief Commercial Officer, expressed enthusiasm for this collaboration with Betsson, highlighting the significance of the Serbian market and the broader Central and Eastern European (CEE) region in GiG’s growth strategy.
GiG’s Growing Presence:
GiG, as a prominent iGaming technology company, offers a comprehensive suite of products, services, and solutions to operators across the globe. Their partnership with Betsson reflects a commitment to exploring new and emerging markets, with a focus on Serbia and the CEE region.
Evolution of Rizk Brand:
The entry into the Serbian market is particularly interesting, as Rizk was originally operated as a brand under GiG, along with other B2C companies like Guts, Kaboo, and Thrills. However, in 2020, Betsson acquired these brands from GiG for €33.0 million ($35.9 million). Betsson’s strategic plan initially aimed to launch Rizk in the Spanish and Croatian markets.
Leveraging Subsidiary Assets:
In addition to the brand acquisitions, Betsson also acquired GiG’s subsidiary, Zecure Gaming, during the same transaction. This acquisition provided Betsson with valuable assets, including business activities, operations, front-end and middleware technology, and gaming licenses, which have been instrumental in supporting the expansion of the acquired B2C brands.
Optimism for the Serbian Market:
Andrew Valenzia, Betsson Zecure Gaming Commercial Director, expressed optimism about Rizk’s prospects in Serbia, emphasizing the country’s potential as an exciting market for Betsson Group. He commended the dedication and hard work of the teams involved in facilitating the market entry.
GiG’s Financial Performance:
Earlier in the summer, GiG reported a notable 40% increase in revenue in its Q2 2023 financial reports, demonstrating the company’s strong performance and resilience in the dynamic iGaming industry landscape.
GiG’s expansion into Serbia through Betsson’s Rizk brand underscores the company’s commitment to providing cutting-edge iGaming solutions in key markets. This strategic move leverages the strengths of both GiG and Betsson to tap into the growing opportunities within the CEE region. As GiG continues to thrive and evolve, it remains a significant player in the global iGaming technology sector.