GiG applied for a casino license in New Jersey back in 2018. Now, the company’s subsidiary, iGaming Cloud was given a 5-year casino service enterprise license.
GiG Subsidiary Received 5-Year CSIE License in NJ
A 5-year casino service industry enterprise license (CSIE) was granted to iGaming Cloud, a Gaming innovation Group (GiG) subsidiary in New Jersey. The license was given from the Division of Gaming Enforcement (DGE) in the Garden State. Under the license, the company is permitted to provide a real-money online casino platform for the state’s operators.
GiG CEO, Richard Brown shared his excitement of the news by saying: “We are delighted to receive the CSIE license after a long and comprehensive process.” He continued by outlining the license as a great achievement for GiG. Brown also noted that this milestone only affirms that the platform, procedures and operations which GiG is offering are meeting the highest standards on the market.
Founded in 2012, GiG Continues to Grow
GiG is a technology company, providing solutions for the iGaming industry. The company was founded back in 2012. “To open up iGaming and make it fair and fun for all”, remains GiG’s vision for the future. GiG operates from Malta and is listed on both Oslo Stock Exchange and Nasdaq Stockholm Exchange under GIG and GIGSEK respectively.
Looking back to 2018, this is when GiG applied for a license in New Jersey. Back then, the company entered the New Jersey gaming market under a transactional waiver. The transactional waiver effectively allowed GiG to provide its sportsbook and casino platform to the giant Hard Rock International (HRI). With that in mind, the recently CSIE license means that GiG has now officially entered the New Jersey gaming market.
In September last year, HRI and GiG extended its partnership. As a result of the updated agreement, the sportsbook and casino platform by GiG went live for HRI customers in Iowa. Back then, Brown said that the two companies have mutual ambition for entertaining customers in a safe way while at the same time providing a first-class sports betting experience.
More recently, in February this year, GiG sold Business-to-Consumer (B2C) assets to Betsson. This was a strategic move by the company was aiming at improving efficiency. By doing so, GiG managed to free valuable resources, which could be used later on towards Business-to-Business (B2B) transactions. In the B2C deal for some €31 million, the brands Rizk, Guts, Kaboo and Thrills were sold to Betsson. Besides the brands, some 63 GIG full time employees and consultants were moved to Betsson.