26 April 2023
GiG and Palasino sign agreement for five years
Gaming Innovation Group (GiG) has partnered with Trans World Hotels & Entertainment (TWHE), a Central European casino group, to power its Palasino online gaming business. The partnership between GiG and TWHE will enable GiG to provide its player account management platform, front-end delivery, and content management system, powering the online entry of TWHE’s traditional retail business through Palasino in a range of established and emerging online markets.
The agreement with Malta-licensed Palasino is signed for an initial period of five years and is expected to be live during H1 2023. This marks the ninth traditional retail operator to partner with GiG to power their online offering.
Marcel Elfersy, chief commercial officer of GiG, said: “We’re really pleased to have the ink dry on this deal with Palasino, seeing a wealth of opportunity in the partnership for both businesses to expand into. We’re continuing to see growth in the online gaming space across the industry, with the brand equity of experienced retail brands gelled with specialised third-party technology such as ours, positioned well to establish a strong foothold in global markets.”
TWHE has been operating for over 25 years in the retail casino industry and was acquired by the Hong Kong-based international development specialist Far East Consortium in 2018. The group operates a range of casinos and hotels across Europe, with interests in Germany, the Czech Republic, and Austria. The group has pursued plans to expand operations, elevating its status as a premier brand in the European gaming and hospitality markets.
Colin Chapman Stewart, director of gaming at FEC, said: “Partnering with GiG provides TWHE, Palasino and our shareholders with the confidence and ability to launch our online division operating out of Malta with an MGA licence. Bringing our brand online to new international players who can experience the same feeling in the casinos we have successfully operated for the past quarter century, is an exciting time for us all here at Palasino.”
The partnership with GiG will enable TWHE to launch its online division and expand its brand to new international players. With the growth in the online gaming space, traditional retail operators partnering with specialised third-party technology providers such as GiG can establish a strong foothold in global markets. The partnership between GiG and TWHE represents a strategic move for both businesses to expand and take advantage of the opportunities offered by the online gaming market. The agreement is expected to benefit both businesses and shareholders and bring new opportunities for growth and expansion.