GiG embraces the repeal of the US sports betting ban
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Malta, 16th May 2018 – For the past 26 years the Professional and Amateur Sports Protection Act (PASPA) has widely prohibited sports betting in the US. In repealing PASPA, (announced yesterday) the US Supreme Court has opened up a vast business opportunity for companies focused on growing in regulated markets.
GiG embraces the repeal of the federal sports betting ban. The repeal enables all states to decide on their respective regulation of sports betting. The market expects some states to move quickly with several being ready to open up to sports betting this year.
This decision further supports GIG’s focus on growth in regulated markets, integrity in sports and responsible gaming. The repeal is perfectly timed with the advanced preparations made with GiG´s partner Hard Rock International, the application for the New Jersey license and the launch of the Company’s new proprietary and cutting edge sports betting services this month.
GiG has been planning for this change and is well underway in its preparations to capitalise on the Company´s unique position. This market opportunity will be top priority for GiG. The Company will continue to invest and add resource to further develop and position its B2B product for what will be a highly competitive US market.
“We are very excited about this news and the long term potential it creates for GiG. We have been positioning the Company for a regulated US market and have a full eco-system of unique products and services to support the iGaming industry, including a cutting edge sports betting service. We are confident we will have a fair and fun product to thrill and engage the US consumer and will be very well placed for future opportunities in this massive market. We have already proven our ability in signing a big brand in this region and there are several interesting RFP´s in the US in which we are actively interested”, says Robin Reed, CEO of Gaming Innovation Group Inc.
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group’s vision is ‘To open up iGaming and make it fair and fun for all’. Through our eco-system of products and services, we are connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of state of the art offices in St George’s Bay, Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.
Source: European Gaming News