Gaming Innovation Group signs agreement with Crab Sports in Maryland

7 June 2022

(PRESS RELEASE) -- Gaming Innovation Group Inc., has signed a head of terms agreement with U.S. based sports betting brand, Crab Sports, to provide its award winning Platform and Sportsbook solution in Maryland. This is the first deal in the U.S. for the new and greatly expanded offering of GiG and Sportnco, and provides an example of the exciting potential of the combined product offering.

Powered by its leading technology and flexible architecture, this turnkey solution includes the technical platform, CMS and the recently acquired Sportnco Sportsbook, all powered by GiG's unique data and GiG Logic rules based solutions.

Crab Sports' excellent leadership team will leverage over 20 years' experience in online gaming to launch and drive their locally focused brand. Utilising their deep understanding of the market, the team intends to build a compelling experience and brand that will resonate strongly with customers in Maryland, US.

It is anticipated that the full contract will be signed in the next few months, with go live projected to be in H2 2022. As a result, GiG expects a positive contribution from Q4 2022 onwards.

Maryland's sports betting market is anticipated to generate $217m of revenue in the first year alone. Both GiG and Crab Sports are excited to enter the market as an aggressive challenger with a differentiated strategy. Combining a strong locally recognized brand with a quality product focused on user experience, conversion, retention, and the highest standards of responsible gaming and customer support, both Crab Sports and GiG are highly optimistic for the future of the partnership.

Richard Brown, CEO of GiG, said: "I am delighted to have partnered with Crab Sports. We see great potential in the Crab Sports excellent team and local approach and we see great potential in Maryland. We look forward to working closely with the Crab Sports team to maximise their potential through a successful launch. This is a proud moment for us and highlights the faith we have in the synergies between GiG and Sportnco. This type of deal is directly in our 'wheelhouse', helping challenger brands drive value and enter newly regulated markets, showcasing our product in the 'soon to be' open Maryland market."

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