Gaming Innovation Group awarded licenses in Pennsylvania and Maryland
24 March 2023
(PRESS RELEASE) -- Gaming Innovation Group has been awarded an Online Sports Wagering Operator License in Maryland and a full Interactive Gaming Manufacturer License in Pennsylvania, ahead of launching new partner brands on its technology and further expanding the regulatory reach of its leading iGaming platform and sportsbook in North America.
The new licenses complement GiG’s established five year presence in the U.S. and existing licenses in New Jersey and Iowa. Together with GiG’s multiple live and upcoming partners in regulated Ontario, GiG is cementing its position as a tier 1 platform and sportsbook provider in North America.
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. Positioned as a brand ‘backed by Maryland people’ and catered to the local market, Crab Sports will look to leverage GiG’s extensive experience at launching new brands in complex regulated markets, to help 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 total handle of $441.5mm (+1323% y/y) and GGR of $59.6mm (+659% y/y) 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 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.
Following record financial results in 2022, GiG has established itself as a truly global provider, now offering access to over 30 markets with more in the pipe in some of the most complex regulatory environments available. Built around easy configuration and event driven architecture, its success is being fueled by agile technology that has been specifically developed to complement evolving operator needs, to enter new, more complex markets.
Claudio Caruana, General Counsel for GiG says; “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.”