Gaming Innovation Group (GIG) is looking to expand into the German market following the acquisition of sports betting company Nordbet, which holds a sports betting licence in the German state, Schleswig-Holstein.
The deal is worth €500,000 ($625,000) will allow GIG’s own operators to offer sports betting in Germany. In addition, it is expected that the licence will allow GIG to integrate with the larger payment providers, making GIG’s sports and casino offering more available to German end-users. The licence will thus strengthen GIG’s overall offering in the German market.
Germany is the 2nd largest iGaming market in Europe, and the country’s online sports betting market had a gross turnover of EUR 5.3 billion in 2017.
CEO of GIG, Robin Reed commented: “We have high ambitions for our sports betting offering. These are being accelerated by the launch of three new B2B products for sports betting in H1 2018. Combining these sports betting services with preferred payment providers, makes GIG’s sports offering in Germany very competitive ahead of the FIFA World Cup in June 2018.”
GIG will be aiming to build a strong footprint in the thriving German market, after it recently announced it had affirmed its commitment to industry diversity by joining the All-in Diversity Project.