Gaming Innovation Group (GiG) and Hard Rock have reached a mutual agreement to end their joint platform and sportsbook service. In the last 12 months, Hard Rock has brought just 2% of GiG’s revenues. Moreover, they brought in a marginal negative contribution to EBITDA. Although both parties agree, this was a positive relationship that brought some significant results. They could, however, not agree on a way forward. Moreover, they both believe that they have different goals for the future. Because of this, Hard Rock will release GiG from its contractual exclusivity clause straight away. This means that they can pursue other business in the US.
GiG’s CEO, Richard Brown, said that this partnership helped them “to build and customize a very strong omnichannel” for its ecosystem. Furthermore, he went on to say that he is very proud of what GiG has done in the last 2 years that they’ve been in the US. Now, they have a top quality omnichannel solution and one of the best casino offerings around. Moreover, it can be tailored to fit the US market. In turn, this should mean even more success when more states regulate online gambling. As such, they’ll be in a very strong position to build up in the US market. They are already compliant in two US states, which will make it easier to grow in other states later on.
A Growing Market
iGaming grows and changes all the time. And GiG feels that they can grow with it. The SVP of online gaming and sports betting at Hard Rock said that they’re “thankful to GiG” for helping them take their first step into the online gaming and sports betting market. They have had good results, and so he wishes them the best for the future.