Swedish based Gaming Innovation Group, known by their shortened name of GIG, have decided to put on hold their investments into creating games. They have decided to stop developing the GiG Games at their studio and closed it with immediate effect, a move that few seen coming.
The whole idea behind the move is all down to funds, they want to reduce expenditure for the time being and move back to their original roots. The company has vast experience and is more known for their developing of technological platforms rather than games themselves, and this is what they are going to revert back to.
The financial side of things was revealed in a statement that GiG released to announce the closure. They said that the move to close the GiG Games studio will save them around €250,000 per month in cash savings once everything is in place and the move away from the studio is fully completed.
This is, of course, a huge sum of money, but an abandoning of something that could have given the company a brand-new arm to dive into and work on.
What Did GiG Say About The Closure?
When speaking about the decision, Richard Brown who is currently the acting Chief Executive of Gig said:
“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. 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”
The GiG Games section of the company has been running since 2017, though it is clear due to this move that things haven’t quite gone as expected to so far. The aim was to bring new and unique gaming content to players, which would support the expansion of GiG’s networking services, something they originally began their company by creating.
In the statement, GiG confirmed that they will continue to offer a variety of casino games to both internal and external operators and these will come from third-party providers. Regarding the number of employees that were currently working in the studio on this project, GiG have confirmed that 25 people have received redundancy due to the news and closure of the site.
In Other News: 7 Figure Jackpot For Joker Millions
The Yggdrasil game Joker’s Millions was subject to a huge win with a player winning the progressive jackpot price of €3,041,054. This is the third time a significant prize has been won on this game during this calendar year, as the game continues to grow into one of the bigger names of the progressive jackpot world.
The player was based in Finland and won the jackpot on a €0.50 spin on the game. The woman placed the €0.50 wager on her smartphone and triggered the bonus feature on the game to give her the huge prize.
The Yggdrasil title Joker’s Millions was originally released in 2015 and the progressive jackpot has been won many times since then. The win cements the title as being one of the biggest that Yggdrasil has and comes less than 12 months after the biggest recorded win on this title. That was back in November 2018, where one player in Sweden pocketed a huge €7.83 million on Joker’s Millions, a record prize that still stands today.
This is now the second recorded win of over €3 million to come from this game during this calendar year.