GiG signs final Grupo Slots agreement to secure Buenos Aires entry

Gaming Innovation Group has signed a final agreement with Grupo Slots, in a deal which will see the Argentinian gaming and entertainment group receive a full online turnkey solution.

Containing a minimum contract period of four years, with an automatic extension for one additional year, the agreement includes the technical igaming platform, sportsbook, front-end development, data platform & GiG Logic. The deal is based on a revenue share model in combination with set up fees. 

This development follows the signing of a head of terms agreement on August 4, 2020, which saw GiG outline plans to enter the regulated City of Buenos Aires online gaming market. 

Richard Brown CEO of GiG, commented at the time of the original agreement: “I am extremely excited to partner with and onboard Grupo Slots, we see a great potential in the regulated environments within Argentina as that market is in the early transformation from offline to online gambling, and to partner with one of the largest and premier land based operators in the market is great opportunity to showcase our product in the LatAm market while delivering the platform for online gambling transformation for Grupo Slots”

The San Luis headquartered group provides entertainment and leisure services in more than 20 locations across Argentina, where it operates casinos, gambling and bingo halls and lottery, as well as boasting its online gaming site in addition to hotels, restaurants and convention centres. 

Argentina is regulating online gambling on a province by province basis, and Grupo Slots in the process to obtain a license for Buenos Aires City, anticipated to be the largest market within Argentina. The license is expected to be granted early 2021 with go live in Q1 2021.

H2 Gambling Capital estimates that the total gambling market in Argentina to be worth €352m, however, only seven per cent is currently done online, with significant growth potential, driven by regulation, eyes by both parties.