Gaming Innovation Group has inked an agreement with online gambling operator LeoVegas for its affiliate marketing compliance tool, GiG Comply.
GiG Comply helps regulated betting operators to automate compliance checks, with a focus on allowing users to adhere to diverse marketing standards and regulations.
The compliance monitoring system is able to scan more than 30,000 web pages each day, referencing operator brands and domains to ensure that their marketing strategies are compliant with the market’s regulations.
LeoVegas says that the marketing compliance tool reflects its “commitment to responsible gaming,” with the firm strengthening its control over third-party advertising and further protecting its brands from being promoted on websites which are not compliant internationally.
Jonas Warrer, managing director of GiG Media, said ‘’We are happy to add LeoVegas to our growing number of partners and to support them in further protecting their brands and end-users.
“Our automated marketing and compliance technology will help to strengthen their affiliate marketing compliance ensuring that they comply with responsible gaming conditions.”
Furthermore, GiG has also detailed that, due to an ambition of maintaining momentum throughout 2021, it has issued a subordinated convertible loan of €8.5m to two Nordic investment funds, Formue Nord and Symmetry Invest.
The term of the loan is 30 months and can be converted at a share price of NOK 15, a 23 per cent premium to the last closing price on Oslo Børs. Interest is 8 per cent per annum.
The loan is subordinated to the company’s SEK 400m bond, and payment of interest and any repayment on the convertible loan are not allowed before all obligations under the bond are repaid in full. The bond has maturity on 28 June 2022, and Nordic Trustee has approved the convertible loan structure as per the bond terms.
Richard Brown, CEO of GiG, commented: “Over the last 12 months GiG has simplified our business around our core B2B offering with significant growth in revenue and EBITDA for the first nine months of 2020.
“As we are seeing continued expansion opportunities on all our three business segments we wanted to strengthen our cash position to be able to take advantage of those opportunities. We are happy that GiG is now in a place where we can attract capital from institutional investors on competitive terms to accelerate the business further.”