GiG Inks Three-Year Deal With Sportsbook Caravel Entertainment

GiG Inks Three-Year Deal With Sportsbook Caravel Entertainment

Gaming Innovation Group (GiG) has signed a partnership with sports betting and gambling operator Caravel Entertainment through its subsidiary Sportnco.

Under the terms of the agreement, GiG will be permitted to utilize Caravel’s Moosh brand, which handles online casino and sportsbook activities in Portugal. GiG predicts that Mooshe’s rapid revenue growth will stem from the migration of its operations from Caravel’s platform to GiG’s technology.

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GiG

New Partner in the Portuguese Sports Betting Market

The period of the agreement between the parties is initially set at three years, with an extension option on the table. GiG has therefore secured its third partner in the Portuguese iGaming sector, which has already shown its tremendous potential. Last year, both the casino gaming and sports betting markets saw phenomenal growth, with yearly growth rates of 30 percent and 32 percent, respectively. GiG recognized the commercial potential of Portugal with shrewd foresight, based on its incredibly comprehensive knowledge and know-how in providing solutions to successful markets. In its hunt for platform migration solutions, the firm also took advantage of the remarkable momentum that has made them one of the most trustworthy partners, alongside Caravel. 

Through a merger, the firm is preparing for Mooshe’s database to be migrated from Caravel’s technology to its own platform. The operation will be finished by the end of the year’s fourth quarter. Hervé Schlosser, the general director of Sportnco Gaming, underlined the subsidiary’s delight in concluding the transaction with Moosh, a “new GiG client in the difficult and lucrative Portuguese market.” Schlosser referred to the official Moosh.pt website in Portugal as a platform with “huge local goals.” He said that they were without a doubt “ideally positioned to react positively” to the new dynamics introduced by the rapidly growing operator in the nation. GiG acquired Sportnco, an iGaming and sports betting company present in the United States, Europe, and South America, in December 2021.

Moosh Has Discovered the Ideal Partner

 

Martin Bengtsson, the chief executive officer of Moosh, described the hunt for a suitable partner as “a lengthy process” that concluded with the signing of the new agreement. He also mentioned Sportnco’s “outstanding sportsbook product,” which is anticipated to give the company substantial assistance. Moosh also believes that its players will like the newly upgraded sportsbook that will shortly go online. Bengtsson also reaffirmed the company’s “great aspirations in the Portuguese market” while emphasizing how the new partnership would help them achieve their objectives much more quickly. He also discussed the possibilities of expanding their services to more regulated markets outside of Europe. GiG and Full Games SA signed a five-year agreement in May to join the iGaming sector in Angola. Kalamba Games chose at the end of June to publish its game content through the GiG platform.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.