Hard Rock and GiG terminate US platform contract
Operator will migrate onto Scientific Games' online platform in Q1 2021 with retail sports to move in Q4 2020
Hard Rock International and Gaming Innovation Group (GiG) have mutually agreed to terminate their five-year betting and igaming platform contract, as Hard Rock pivots onto Scientific Games’ technology.
The two parties signed a deal in February 2018 with GiG to provide Hard Rock with its retail and online sportsbook platform and igaming technology in New Jersey.
The contract was extended to include online betting in Iowa in December last year.
Hard Rock will immediately release GiG from its contractual exclusivity clause that prevented the supplier from pursuing further business in the US.
The operator will instead pivot onto Scientific Games’ OpenSports and OpenGaming solutions after migrating off the GiG online platform in Q1 2021, and retail sports technology in Q4 2020.
The partnership represented less than 2% of GiG revenue in the last 12 months, with a marginal negative contribution on EBITDA.
Hard Rock SVP online gaming and betting Kresimir Spajic said: “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,” he added.
GiG CEO Richard Brown said: “We have a high quality, innovative omni-channel solution that we have built out of work with Hard Rock and a very competitive casino offering that can be tailored to the US market which we believe can lead to future success as more states begin to regulate online.
“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,” Brown added.
“However, the global gambling market is an exciting one and we believe there are considerable areas of growth globally.”
Hard Rock is actively seeking to acquire an online B2C brand in Europe to expand its reach outside the US.