iGaming technology company Gaming Innovation Group has been awarded an Online Sports Wagering Operator License in Maryland, and a full Interactive Manufacturer License in Pennsylvania, ahead of launching new partner brands on its technology and further expanding the regulatory reach of its iGaming platform and sportsbook in North America.
The new licenses complement GiG’s established five-year presence in the US and existing licenses in New Jersey and Iowa, says the company. Together with GiG’s partners in regulated Ontario, “GiG is cementing its position as a tier 1 platform and sportsbook provider in North America,” the business stated.
The license issued by the Maryland Lottery and Gaming Control Agency will initially see GiG power the launch of Crab Sports in the Old Line State this May. Catered to the local market, Crab Sports will look to leverage GiG’s experience in launching new brands in complex regulated markets, to establish a firm, early foothold in the market.
With online gaming opening as recently as November 2022, there are currently 10 retail and eight mobile sportsbooks operating in Maryland together generating a handle of $441.5 million and GGR of $59.6 million for January alone, according to data supplied by Eilers & Krejcik, highlighting the potential for growth opportunities in the state.
In addition, GiG has obtained a full license from the Pennsylvania Gaming Control Board (PGCB) following the announcement of its interim authorization in October, with a planned brand launch expected in due course expanding on a relationship with one of its existing partners in North America.
Claudio Caruana, General Counsel for GiG, said: “Having placed a strong focus on expansion in regulated markets, we’re understandably pleased with the confirmation of our licenses in two new US states.”
“Regulation will continue to drive the industry in North America, as markets mature, allowing us to support and protect operators and their customers, establishing suitable, robust frameworks for sustainable growth.”
Marcel Elfersy, Chief Commercial Officer at GiG, added: “With our plans to open our new US hub later this year and having recently been shortlisted with EGR North America in the full-service platform provider of the year category, our new licensed status in these very attractive online markets creates further opportunity for us to add value for new and established partners in the region.”
“We’re excited about the possibilities these new states provide, starting with the launch of Crab Sports in Maryland in May on our PAM and sportsbook,” he concluded.
The news comes right after the company expanded its commercial partnership with British newspaper publisher News Corp UK & Ireland Limited to enter the Irish market ‘with exclusive offers and casino and sports betting content.’
As part of the business relationship between both parties, the Irish Sun’s website now features a dedicated hub for all betting-related content, ‘allowing readers to access everything in one place.’
The decision to expand the commercial deal follows the successful launch of the partnership in the UK in December 2022, already delivering material revenues to GiG Media after only two months in operation.
Original article: https://www.yogonet.com/international/news/2023/03/29/66643-gig-awarded-licenses-to-operate-in-maryland-and-pennsylvania
