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Caravel Entertainment Limited (Caravel), well known for managing the online Moosh brand in Portugal, is the newest partner for Gaming Innovation Group Inc.’s (GiG) award-winning sportsbook and platform. At the same time GiG inked a deal with an established retail partner in Spain.
Following the deal the new licensed brand will expand its operations online by the end of this year. It is expected that their digital transformation will take advantage of the substantial experience and knowledge that GiG can offer. This new partner will be GiG’s thirteenth client in Spain.
As a result of GiG’s deal in Portugal, Caravel will replace its current technology with GiG’s for the moosh.pt site in Q4 2022. This will provide immediate prospects for revenue growth as a result of the ongoing database conversion. Sportnco Gaming, a wholly owned subsidiary of GiG, and Caravel have struck a three-year deal with the option to extend it.
Sports betting and casinos in Portugal are expected to rise by 32% and 30% annually in 2021, respectively (H2 data), demonstrating the market’s commercial potential. As their third Portuguese customer, Caravel can now count on GiG’s expertise in providing complicated and highly regulated markets. This has helped them gain momentum, making them a trusted partner for operators like Caravel.
Hervé Schlosser, Managing Director of Sportnco Gaming, said “We are very proud to sign this contract with Moosh, a new GiG customer in the demanding and attractive Portuguese market. Moosh.pt has great ambitions domestically and there is no doubt that we are perfectly positioned to be able to respond positively to the new dynamics of this growing Portuguese operator.
This new deal in Spain is fully in line with our strategy to focus on fast growing regulated markets, and also bring our expertise to a large number of clients in every market we are. With now 13 clients in Spain, our platform is more than ever the market reference and leader in this country”.
Martin Bengtsson, Chief Executive Officer at Moosh.pt said: “It has been a long process to find the right partner for us, which we have found in the sportsbook and platform provider GiG. Their Sportnco subsidiary is well known for their top-notch sportsbook offering so this partnership offers a strong support for our business, and we are convinced our players will appreciate the new updated sportsbook when we go live.
We have high ambitions in the Portuguese market, and this partnership will surely help us accelerate our plans to reach our goals and ambitions, not only in the sportsbook vertical but in Casino as well, whilst scaling up the offering in other regulated markets inside and outside of Europe.”
