GiG Forecasts UK Market Launches for Partners Later This Year

Supplier Gaming Innovation Group (GiG) Software is eyeing up more market launches in the UK with some of its clients, seeing opportunity rather than difficulty in the wake of increased online taxation.

GiG published a market update alongside its financial results for Q1 2026. GiG’s revenue for the quarter was €9.0 million (£7.78 million), down very slightly year-on-year from €9.1 million.

Loss after tax went up from €4.6 million to €5.2 million, and adjusted EBITDA dropped from €400,000 to €200,000.

A highlight within the quarter was GiG’s announcement in February that it has partnered with digital marketing and iGaming operator Jupiter Gaming. Jupiter Gaming will migrate a number of its iGaming brands onto GiG’s proprietary CoreX platform and SportX sportsbook technology.

ITV Win deal didn’t work out

GiG was announced in December as a supplier for ITV Win, when the broadcaster launched its real-money online slots and bingo operation ITV Win Bingo & Spins that month. However, the project was discontinued in April, after ITV’s operational partner Richmond Atlantic was unable to secure a buyer and had no additional budget to invest into the venture.

Richmond Atlantic is reported to have said the primary reason for its failure to secure a buyer is rising online taxes in the UK. At the start of April, remote gaming duty, paid on online casino bets, increased from 21% of gross gaming yield (GGY) to 40%.

This will be compounded in April 2027, when general betting duty, paid on online sports bets, will go up from 15% of GGY to 25%; bets on horseracing will be exempt from this increase.

However, GiG still sees opportunity in the UK market, hinting that well-capitalised brands can make use of a market where competition may be shrinking as a result of the tax increases. GiG said in its Q1 2026 report:

“Recent changes to UK remote gaming duty have caused a dislocation in the market leading to opportunities for well-capitalised brands with ambitious expansion plans.

“This has resulted in GiG increasing its exposure to the market through new agreements which will lead to brand launches over the course of the year. There are additional opportunities to extend these agreements to include sportsbook whilst certain existing clients based outside of the UK are watching the market developments with interest with a view to potential market entry later in the year.”

GiG CEO Richard Carter also touched upon this opportunity when commenting in his quarterly review that the UK “offers significant opportunity for operators with strong balance sheets and differentiated propositions with the potential for medium-term market share gains.”

The picture going forward

There can be no doubt though that ITV Win Bingo & Spins’ inability to get off the ground was a significant blow to GiG’s aspirations in the UK, especially after Carter had referred to GiG’s agreement with the operator as “a major milestone for GiG in the UK.”

GiG said in its report it had implemented measures to deliver previously announced €4.5m annualised cost savings alongside continued progress against broader strategic priorities, anticipating the impact could be noticeable from Q2. This could potentially impact GiG’s ability to follow through with market launches in the UK with other clients later in the year.

GiG already has a sizeable UK presence, with its partners in the country generally residing outside tier one, working with the likes of Betzone and the Football Pools. GiG also provides compliance tools to Bet365.