Gaming Innovation Group (GiG), one of the leading Malta-based online gambling software suppliers, has been recently approved for licensing by New Jersey’s Division of Gaming Enforcement (DGE). The license will be valid for five years and it will allow GiG to offer its real-money online casino platform to casino operators in New Jersey. This license was granted to the company’s subsidiary brand, IGaming Cloud Inc. after its initial application back in June 2018. It took over two years for the company to receive its license and while the application was pending for approval, the company supported Hard Rock International’s casino operations through a transactional waiver.
With this recent news on hand, the supplier will be joining New Jersey’s online gambling market at a time where the online industry is booming. The state’s regulated online gambling market set records even though many of the Atlantic City’s casinos remained closed until recently. Though casinos were allowed to reopen on July 2, 2020, a lot of policy and safety standards have been set to help curb the pandemic. This has adversely affected casino operating capacities because strict social distancing measures are in place. This, in turn, has made online casinos more appealing to customers as they are able to experience the brick and mortar casino experience at home.
The New Jersey Division of Gaming Enforcement recently released the total gaming revenue results of June 2020, on July 14, 2020. The figures show that there is a general decline in land-based casino revenues, about 65% loss of revenue year to date. On the other hand, despite this massive loss, internet gaming revenue is hitting nearly £64.65m/$84.9m for June, a 123.1% rise over the same month last year. In terms of period comparison, internet gaming has increased by 94.4% to £321.52m / $422.7m from £165.40m / 217.45m when compared to the prior period (January to June 2019)
Chief executive officer of GiG, Richard Brown has recently said in an interview that the organisation is delighted to receive the CSIE license after a long and comprehensive process. He further said that this was a great achievement for the company and it also gives a solid confirmation that its platform, procedures, and operations are meeting the highest standards in the industry.
With the addition of GiG to New Jersey’s Market, players will now have even more access to a variety of content. Though the supplier is still unclear whether it will work with other operators aside from Hard Rock in the future, great things are ahead for the gambling state.
The supplier has been busy this year. Aside from its USA operations, it has recently completed its business to customer (B2C) asset sale to Betsson. The deal was finalised earlier this year, April 2020. This entailed Betsson’s acquisition of the supplier’s B2C subsidiary brand, Zecure Gaming Limited, acquiring all of the supplier’s assets, business activities, operations, front-end and middleware technology, and gaming licenses. The £25.7m acquisition of Zecure Gaming Limited grants Betsson ownership of addition sub-brands such as Rizk, Guts, Kaboo, and Thrills, along with the licenses in markets such as Malta, UK, Sweden, and Germany.