Gaming Innovation Group (GiG) has signed an agreement with Crab Sports, a sports betting brand based in the United States. The contract with Crab Sports is the first in an expanded offering from GiG and its new partner, Sportnco.
GiG will power Crab Sports with its turnkey solution, which includes the CMS technical platform and data from the Sportnco sportsbook. Crab Sports intends to use GiG technology to optimize its offering for the Maryland public.
Despite not being an official partnership, this agreement is expected to turn into a formal contract in the coming months. Gaming Innovation Group projects to raise its earnings starting in the fourth quarter of 2022, once online gaming is regulated in Maryland.
Becoming regulated for land operations in December 2021, the Maryland sports betting market is expected to generate $217 million in its first year. Outside of sports betting, Maryland reported total gaming revenue of $178.8 million in May, an increase of nearly 4%.
With a locally focused offering, Crab Sports and GiG aim to enter the Maryland market with a differentiated strategy. GiG CEO Richard Brown said: “I am delighted to have partnered with Crab Sports. We see immense potential in Crab Sports’ excellent team and local approach, and we see potential in Maryland.”
“We look forward to working closely with the Crab Sports team to maximize its potential through a successful launch. This type of deal is helping brands generate value and enter newly regulated markets, [highlighting] our product in the Maryland market soon.”
About Gaming Innovation Group
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services for operators. Founded in 2012, GiG operates out of Malta and is dual-listed on the Oslo Stock Exchange under the symbol GIG and on Nasdaq Stockholm under the symbol GIGSEK.
The company’s goal is to be the industry-leading platform and media provider that provides world-class solutions to its partners and customers.
