GIG To Shut Down Projects

September 25, 2019 by

Gaming Innovation Group (GiG) has chosen to stop projects in its proprietary game studio, GiG Games, due to a “negligible” investment yield so far. The 25 employees of the studio have received termination packages, with three retained until the end of the year to maintain the current games portfolio. The studio was introduced in November 2017, and last year in October it released its first film, Wild Reels. In total, it released four games, followed by Wild Reels with Book of Souls, Fruit Slot and Popstar.

However, GiG observed that earnings produced from the division of proprietary games have been negligible. The decision to stop the development of in-house material is a strategic choice to enable complete focus and resources on becoming the platform of selection for the iGaming sector, as was stated by Richard Brown, GiG’s current chief executive. He added that this is component of latest strategic efforts to decrease OPEX-related non-marketing, along with their dedication to execution and bottom line income.

He added that he would like to thank everyone involved in adding their contributions and dedication to the company over the years. GiG estimates that after the shutdown of the studio, it will save around € 250,000 a month. It observed that the intellectual property generated by creating the four titles of GiG Games would offer it the choice of resurrecting the subsidiary and resuming the creation of proprietary games. However, it will only deliver third-party material through its website for the time being.

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