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GiG withdraws investment in game studio

Gaming Innovation Group (GiG) has confirmed that it will cease investment in its proprietary game studio GiG Games with immediate effect.

GiG launched its game studio at the end of 2017 and released its first in-house developed casino game in October 2018. Since then it has developed a total of four games which have contributed negligible revenue to the business. All four games will remain in GiG and continue to be offered to both internal and external operators.

The company intends to concentrate on several other key areas to become “the global partner and operator for strong brands in igaming”. A shutdown of GiG Games will also lead to cash savings of approximately €250,000 per month once the full effect is realized. The 25 people employed by GiG Games have received termination packages as a consequence of the closure. Three employees are retained to maintain the current game studio until the end of 2019.

“The decision to halt in-house content production is a strategic choice to facilitate full focus and resources on becoming the platform of choice for the iGaming industry. This forms part of recent strategic initiatives taken to reduce non-marketing related operating expenditure, together with our commitment to execution and bottom line earnings,” said GiG acting CEO Richard Brown.

“I would like to thank everyone who has been involved in building our own games for their contribution and dedication to the Company,” added Brown.

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