GiG bolsters presence in Ontario through Ventures Lab agreement

The provider of iGaming technology, solutions, services and products to online gambling operators, Gaming Innovation Group (GiG), announced a new agreement, growing its footprint in Ontario, Canada's most populous province.

The company continues to expand in Ontario

The company confirmed Thursday it joined forces with Ventures Lab, a leading iGaming and fintech company with a global presence.

Under the terms of a new Head of Terms agreement, GiG agreed to supply the company with its award-winning iGaming platform and tools.

As a result, Ventures Lab will benefit from LogicX and DataX, two tools from GiG that are powered by AI.

The collaboration is expected to propel the capabilities of the company in Ontario, while at the same time growing GiG's portfolio of partners.

The innovative solutions, provided by the leading iGaming technology and content supplier are already recognized for their effectiveness in markets across the globe.

This is also the case for Ontario, where GiG has a growing presence. In fact, Ventures Lab marks the fourth partner for the company in the Canadian province.

Leveraging GiG's leading technology, Ventures Lab is expected to benefit from increased player engagement and retention.

Moreover, the two companies agreed to expand their collaboration in the future, growing together in other important markets across the globe.

The agreement marks an exciting milestone for GiG, Ventures Lab

Carlos Strazzer, Ventures Lab's Chief Executive Officer, shared his excitement about the new deal with GiG in a statement.

"This collaboration will enable us to drive substantial growth and expansion leveraging GiGs vast experience in regulated markets and their leading technology," he revealed.

Finally, Strazzer pointed out: "We’re very much looking forward to delivering an unparalleled betting experience for the Ontarian market and seizing the opportunities this region holds."

Andrew Cochrane, GiG's Chief Business Officer, added that the company continues to grow its portfolio of partners who benefit from increased profitability and efficiencies.

Last but not least, Cochrane outlined: "This agreement further underpins our powerful strategy to capitalize on the overwhelming potential within our market-leading solutions, forming strong new partnerships in core regulated markets, with the intention of reaching and exceeding our ambitious growth targets for the business."

Earlier this week, GiG announced the rebranding of its GiG Media division to Gentoo Media ahead of a planned business separation.

The latest agreement in Ontario comes at a time when a recent report highlighted the potential of the sector in the province.

The recently released data reveals that Ontario's iGaming market revenue surpassed €3.8bn for the 2023-24 period.

A year-over-year comparison showed that this figure marked an 88% increase, a result that is a testament to the strong potential of the market.

Image credit: Gaming Innovation Group