Gaming Innovation Group strengthens position in US via license approval in Colorado

iGaming technology company, Gaming Innovation Group Inc. (GiG) (OSL:GIG), has secured a sports betting license in Colorado for its flagship affiliate site World Sports Network (WSN.com), further expanding its presence in the U.S.

Receipt of the Vendor Minor license from the Colorado Limited Gaming Control Commission makes the Malta-headquartered company’s subsidiary GiG Media active in seven U.S. states via the independent online sports and betting guide.

Continued U.S. market growth:

In an official press release, Managing Director for the 360 digital marketing provider, GiG Media, Jonas Warrer said…

“We are delighted to further strengthen our position in the US with this latest license approval. WSN.com continues to gain momentum in the US market and Colorado provides us with an even greater opportunity to convert visitors into players as legal sportsbooks begin accepting customers in the state.”

The license complements GiG’s strategy to boost its footprint in the U.S. market, after in January 2019 having been granted its very first affiliate vendor registration for New Jersey. After that, the company received a certificate of registration for sports wagering in the state of Indiana in December 2019, which followed a September agreement with its partner, Hard Rock International, to support its market entry with sports betting in Iowa.

Pennsylvania authorization:

More recently, in February 2020 GiG obtained authorization to provide affiliate services in Pennsylvania from the state’s Gaming Control Board, making the Keystone State the fourth state in which the company’s Media division is active via its US-facing websites WSN.com and CasinoTopsOnline.com.

Revenue boost:

In May 2020, Colorado became the 18th state to legalize online sports betting since the US Supreme Court overturned the federal sports wagering ban (PASPA) in 2018. And according to H2 Gambling Capital (pdf), the centennial state’s sports betting market is estimated to reach some $200 million in annual revenue at saturation. Online sportsbetting commenced on May 1, 2020, while retail sportsbetting commenced on June 17, 2020, in the midwestern U.S. state.