At the beginning of October, Gaming Innovation Group (GiG ) entered into a long-term agreement with Slotbox Limited to provide the Dublin-based group with an iGaming platform, and an omnichannel solution for its online casino. Under the name Slotbox, the casino operator will rely on GiG’s front end development tools, bringing together its online and offline experience.
Coastline Gaming, one of the leading gaming and casino operators in Ireland, is responsible for the founding of Slotbox Limited, boasting eight premier brick and mortar locations in the country. As of now, their online presence is lacking but this new partnership with GiG will hopefully bring them up to date and prepare them to compete with an increasingly digital market.
Making the Deal
GiG has managed to build a decent reputation in the past few years working with other operators for the provision of their platform services, moving to focus purely on B2B services this year. Just last month, GiG announced a breakthrough into the Hungarian iGaming scene through a platform deal with Casino Win, another land-based casino operator. A recent end to a contract with Hard Rock International will open up US opportunities for the iGaming company, while the Slot Box deal adds another partnership to its global reach.
Talking Numbers
The agreement between the two companies includes both a fixed purchase and a shared structure on future fees, with the expectation for the deal to positively affect GiG’s revenues next year. Optimistically perhaps, the goal is for the casino to go live by the end of the year.
Going Online
As it stands, online gambling in Ireland still has room to grow. Paddy Power and Betfair, two industry giants, call the Emerald Isle home now, but other countries that still have some catching up to do. The United States still hasn’t successfully tapped online markets, even though sports betting and online casino laws have started to change across the states. Meanwhile, online gambling is more popular than ever and Slotbox is making the right move getting in while they can.
Richard Brown, Chief Executive Officer of GiG commented on the deal, saying “Partnering with Slotbox, who has extensive experience and presence across the Irish retail casino gaming market, provides a great opportunity to both parties. We look forward to delivering their online solution and omnichannel experience to their customers. I am confident that the two companies’ alignment in player first focus will drive a top-class product and further enhance GiG’s track record of extending land-based gaming operations online.”
The Pastime of Saints and Scholars
Ireland has come out on top economically compared to some of its neighbors and the gambling industry within the country is no different, bringing in €100 million annually in taxes. Gambling licenses are required to operate within the country, but authorities are happy to grant them when the market is not only profitable but popular.
A Sure Future for Slotbox
The Irish Department of Health reported in 2019 that 67% of the legal-age Irish population had gambled within the past 12 months with lottery and scratch cards being the most sought-after form of gambling. Several thousand land-based bookmakers are employed by the market, according to the Irish Bookmakers Association, and online casino and slots operators employ another estimated thousand. Already part of the hugely successful gambling industry in Ireland, Slotbox is just stretching its legs and keeping up with the times.
“Slotbox is founded by a team with extensive experience in the gaming industry and has strong retail operations in Ireland,” John Doyle, Head of Marketing at Slotbox says. “With our customer-first approach, we became Ireland’s most popular casino chain. We look forward to continuing to innovate and build on that success with GiG and deliver a first-class omnichannel experience for our players. In addition, we aim to be an industry leader in the area of professional development for our employees”.
