GiG Software reported weaker second-quarter results on August 26, 2026, as Alberta emerged as a potential growth market after opening its regulated private iGaming sector.

The Malta-based technology supplier recorded second-quarter revenue of €8.8 million, down from €9.3 million in the same quarter of 2025.

GiG reported a €6.9 million operating loss, compared with a €3.7 million loss a year earlier. The result included €3 million in one-off bad-debt provisions.

GiG said the provisions were linked mainly to the insolvency of Richmond Atlantic. Lower non-recurring revenue also weighed on the result, the company said.

Alberta creates a new entry point

GiG said it signed three new operators for Alberta and delivered nine brand launches during the quarter.

The company also highlighted a day-one Alberta launch after the province opened its market on July 13, 2026. GiG separately said it received registration from the Alberta Gaming, Liquor and Cannabis Commission and launched LuckyDays on the first day.

GiG said in a July announcement that it already supports four brands in Ontario. Alberta is the second Canadian province to establish a competitive private iGaming market after Ontario.

Private operators can offer online casino games and sports betting in Alberta only after completing provincial registration and securing a commercial agreement with the Alberta iGaming Corporation.

  • AGLC regulates the market and oversees compliance.
  • AiGC manages commercial agreements, financial reporting and market conduct.
  • Operators must integrate Alberta’s centralized self-exclusion program and meet player-protection requirements.

AGLC confirmed that legally registered operators could begin conducting and managing platforms in Alberta from July 13.

Alberta gives GiG access to a new regulated market, but the company has not disclosed revenue from the province and the launch has not yet offset its second-quarter losses.

Cost reductions remain central to the recovery plan

GiG’s Alberta expansion comes as the company restructures its business.

GiG said it completed a previously announced €4.5 million annualized cost-saving program. In June, it began targeting an additional €6 million in annual savings.

The new measures include closing the white-label business and leaving the United States and Philippines markets.

GiG said the changes are intended to reduce its cost base and move the group toward positive cash flow by the end of 2026.

The strategy reduces GiG’s exposure to business lines and markets that management considers less attractive. It also places greater weight on regulated jurisdictions such as Alberta and Ontario.

Why the launch matters to technology suppliers

Alberta’s market creates demand for platform providers, payment firms, compliance vendors and critical gaming systems suppliers.

The province requires technology and service providers to meet registration, security and responsible-gambling standards.

A Government of Alberta fact sheet published in January 2026 set the minimum online gambling age at 18. It also listed mandatory player-protection tools, including:

  • Financial and time limits.
  • Transaction records.
  • Risk intervention.
  • Centralized self-exclusion.

For GiG, the immediate opportunity is not the size of its Alberta revenue. The company has not disclosed that figure.

The opportunity is the ability to deploy its platform across multiple operators as the market develops. Alberta’s early launches therefore offer a possible route to growth while GiG manages falling revenue, weaker earnings and a costly operational reset.