London-listed betting and gaming operator William Hill will launch its Mr Green brand in Latvia and will use Gaming Innovation Group’s (GiG) software platform for its market entry courtesy of a recently inked deal.
The long-term agreement reportedly sees the Malta-headquartered company supply online casino, sportsbook and front-end services for Mr Green.
Earlier this year, the leading betting and gaming company purchased a 92 percent stake in Mr Green’s parent company, MRG, in a £245m ($315m) deal.
The current agreement is “based on revenue share and is expected to go live in Q2 2020 with a limited contribution on GiG’s overall revenues in 2020, and an increase in 2021 onwards,” according to a recent press release.
What they’re saying:
Commenting on the recent partnership agreement, Chief Executive Officer for Mr Green Latvia, Janis Tregers, said…
“This is an exciting moment for the William Hill Group business in Latvia, where we move forward with our strategy to introduce a global brand such as Mr Green to the market. We see it as the perfect compliment to the locally well established 11.lv brand, also hosted on the GIG platform. By working closely with GIG and leveraging their technology from product, compliance and other aspects we have been able to propel 11.lv to second position among leading brands in the market. It is now time to make Mr Green a similar success,” according to the December 13, 2019 press release.
For its part, Gaming Innovation Group, Chief Executive Officer, Richard Brown, added…
“I am pleased to announce this expansion of our collaboration and partnership with Mr Green. Latvia is an interesting market for online gambling, we are looking forward to support Mr Green’s growth with a strong, safe and entertaining product.”
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Significant growth expected:
According to the press release citing data from betting and gaming consultancy, H2 Gambling Capital, the Latvian interactive gambling market is expected to grow by over 35 percent within the next two years, with a market value of around 125 million euros in 2022.