Gaming Innovation Group (GiG) is set to make a move into Pennsylvania, having been granted ‘interim authorization’ by the state’s Gaming Control Board. This development makes the Keystone State the largest US jurisdiction to green light GiG’s sportsbook software and player account management.
This comes at the same time that GiG’s partner PlayStar, an online casino product, has gone live in New Jersey. The company partnered with Ocean Casino Resort to secure access to a limited license market in the Garden State, allowing PlayStar to offer its unique online games to New Jerseyans.
Both states present GiG with potentially lucrative markets. New Jersey has enjoyed significant growth and posted a 31% revenue increase in August 2022, compared to the same period last year.
Meanwhile, Pennsylvania generated $429.1m in revenue for July, with sportsbook wagering accounting for $25.4m of this total. Sports betting rose 28% year-on-year while iGaming revenue saw an annual 11% increase to $98.6m. These figures highlight the opportunity this jurisdiction presents for GiG.
GiG General Counsel Claudio Caruana commented: “The addition of a Pennsylvania authorization to our ever-expanding list of supported markets is a testament of the focus that GiG has placed on regulated markets, which we strongly believe underpins sustainable and prosperous growth within the online gaming industry”.
He added the state would have a “key role” for the company's ambitions in North America. The company’s current trajectory of growth truly took off in December 2021, when it acquired Sportnco, another leading sportsbook, for $56.7m.
GiG currently serves 26 regulated markets, and Caruana says that nine more are “in the pipeline.”