Gaming Innovation Group closes proprietary games studio
Twenty-five staff let go as operator looks to cut operational expenditure under new leadership
Gaming Innovation Group (GiG) is closing its proprietary GiG Games studio with 25 staff let go, the operator announced today.
GiG said the closure was a strategic decision designed to reduce OPEX and concentrate focus on “key strategic areas”.
The closure will save the firm approximately €250,000 per month once the full effect is realised.
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,” said Richard Brown, acting CEO.
“This forms part of recent strategic initiatives taken to reduce non-marketing related OPEX, together with our commitment to execution and bottom line earnings. I would like to thank everyone who has been involved in building our own games for their contribution and dedication to the Company.”
GiG Games was launched in 2017 and currently has four proprietary games that will continue to be offered to both internal and external operators.
GiG said studio’s IP would allow it to re-enter the casino games vertical at a later stage should proprietary content be considered strategically more important.
The closure is the first major move announced under by Brown, who took over from former CEO Robin Reed earlier this month.