Gaming Innovation Group signs a head of terms agreement with Crab Sports in Maryland
OSLO, Norway, June 7, 2022 /PRNewswire/ -- Gaming Innovation Group Inc. (GiG), has signed a head of terms agreement with US based sports betting brand, Crab Sports, to provide its award winning Platform and Sportsbook solution in Maryland. This is the first deal in the US for the new and greatly expanded offering of GiG and Sportnco, and provides an example of the exciting potential of the combined product offering.
Powered by its leading technology and flexible architecture, this turnkey solution includes the technical platform, CMS and the recently acquired Sportnco Sportsbook, all powered by GiG's unique data and GiG Logic rules based solutions.
Crab Sports' excellent leadership team will leverage over 20 years' experience in online gaming to launch and drive their locally focused brand. Utilising their deep understanding of the market, the team intends to build a compelling experience and brand that will resonate strongly with customers in Maryland, US.
It is anticipated that the full contract will be signed in the next few months, with go live projected to be in H2 2022. As a result, GiG expects a positive contribution from Q4 2022 onwards.
Maryland's sports betting market is anticipated to generate $217m of revenue in the first year alone. Both GiG and Crab Sports are excited to enter the market as an aggressive challenger with a differentiated strategy. Combining a strong locally recognized brand with a quality product focused on user experience, conversion, retention, and the highest standards of responsible gaming and customer support, both Crab Sports and GiG are highly optimistic for the future of the partnership.
Richard Brown, CEO of GiG, said: "I am delighted to have partnered with Crab Sports. We see great potential in the Crab Sports excellent team and local approach and we see great potential in Maryland. We look forward to working closely with the Crab Sports team to maximise their potential through a successful launch. This is a proud moment for us and highlights the faith we have in the synergies between GiG and Sportnco. This type of deal is directly in our 'wheelhouse', helping challenger brands drive value and enter newly regulated markets, showcasing our product in the 'soon to be' open Maryland market."
For more information,contact:
Richard Brown, CEO GiG, [email protected], +34 661599025
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
About Crab Sports
Founded in 2021, Crab Sports is a start-up mobile sportsbook operator which will operate in Maryland, USA. The company's vision is to give its customers in Maryland a differentiated, truly 'local' experience which offers them a compelling value proposition over and above the nationally recognised sportsbooks. Crab Sports' distinctive branding, partnerships with local hero businesses, and 100% in-state operations will ensure that it gives customers the best possible sports betting experience in the market.
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SOURCE Gaming Innovation Group
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