BUSINESS

GiG expands business by securing Pennsylvania authorization

TAGs: Gaming Innovation Group, Pennsylvania

On February 19, the Gaming Innovation Group (GiG) announced that they had secured authorization from the state of Pennsylvania to offer affiliate services. This makes the Key Stone State the fourth state in which GiG’s media division is available through the websites World Sports Network (WSN.com) and CasinoTopsOnline.com.

gig-expands-business-by-securing-pennsylvania-authorizationIn a statement provided by GiG CEO Richard Brown, he commented, “The Pennsylvania authorization comes at an opportune moment for us as our flagship website, WSN.com, continues to climb in Google rankings in the US. This will provide us with more opportunities to convert visitors into players and we’re fully prepared to enter more states as they allow legal operators to start accepting customers.”

GiG was granted a similar affiliate vendor registration in New Jersey last month and was granted registration for sports wagering in Indiana in December of last year. WSN.com is also available in West Virginia where no licensing requirements are needed for sports betting affiliates.

GiG hasn’t been all about expansion lately though. The company recently announced a €31m divestment of their B2C vertical to Betsson. It is hoped that this move will increase the potential for sustainable growth after GiG suffered declines in 2019.

By divesting their B2C vertical, the company now looks to free up resources, allowing them to focus more of their attention on growing the B2B business and being more efficient.

On February 18, GiG released their fourth-quarter earnings, which showed that revenues slid to €29.4 million, a 35.7% decrease from the same period in 2018 and a 5.4% decline from the third quarter of last year.

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