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GiG and Hard Rock terminate platform services deal


Gaming Innovation Group (GiG) and Hard Rock International have agreed to a mutual termination of their platform and sportsbook services arrangement.

Both parties acknowledged that while the partnership had proved successful and there was an upswing in results during this year, they were not able to strike a commercial agreement that supported their individual strategic aims.

As such, Hard Rock will immediately release GiG from an exclusivity clause in the contract, that in turn allows the supplier to pursue new business opportunities in the US.

The migration of online operations to a new provider is expected to take place during the first quarter of 2021, while retail sports betting will be moved across before the end of 2020.

There has been no indication as to which supplier will replace GiG as Hard Rock’s sportsbook technology provider.

GiG noted that the Hard Rock agreement represented less than 2% of its revenue in the last 12 months, as well as a marginal negative contribution on its earnings before interest, tax, depreciation and amortisation (EBITDA).

The termination will not have an impact on its guidance for 2020, the supplier added.

“GiG is in a strong position to pursue further business opportunities in a fast-evolving US landscape, which we now look to intensify, having a fully compliant and quality solution operational in two US states, easily configurable to additional states,” GiG chief executive Richard Brown said.

“However, the global gambling market is an exciting one and we believe there are considerable areas of growth globally.”

Hard Rock’s senior vice president for online gaming and sports betting, Kresimir Spajic, added: “We are thankful to GiG for helping us take our first steps in the regulated US online gaming and sports betting market. Together we have achieved notable results and launched significant innovations.

“We wish GiG all the best in their future ventures.”

GiG and Hard Rock had been working together for a number of years, have first agreed to launch an online sportsbook in New Jersey in October 2018. This came after GiG in June of the same year secured approval to offer a real-money online casino platform solution in the state.

The New Jersey sportsbook went live in January of last year, with players able to wager online or in-person at the Hard Rock casino.

GiG and HRI then launched a mobile sportsbook in Iowa last December to complement a land-based offering.