Gaming Innovation Group has agreed to terminate the platform agreement with a European media group that was entered into in December 2020.
"Wholesale changes in strategy on the media group’s approach towards operating on its own licence" has created a situation where "the partnership was no longer viable for either party to move forward."
GiG took the decision in late 2019 to not support the white label model going forward and given this shift by the client, GiG has moved to terminate the agreement.
The termination will not impact the company’s financial forecasts for 2020 or the long-term financial targets. The current client onboarding programme and continuing depth in the sales pipeline remains strong.
Richard Brown, CEO of GiG, says: “The change in strategy has led to an impasse for us to move forward together. While unfortunate to terminate this agreement, we wish them well and we continue to move forward on a multitude of our own opportunities.”
