GiG extends Hard Rock sportsbook deal to Iowa
Partners to launch OTC betting initially with online and mobile products due in Q4
Gaming Innovation Group (GiG) has extended its sportsbook supply deal with the Hard Rock to cover a the state of Iowa.
The expanded agreement will see the partners launch a OTC book on the casino floor at the Hard Rock Hotel & Casino Sioux City in Iowa.
This will be followed by the launch of online and mobile sports betting in Iowa, expected in Q4 2019.
GiG said the deal would add scale and revenue to its US business having “done the groundwork” in establishing a platform in New Jersey.
The Malta-based operator said the agreement would have limited impact on its revenues in 2019, with an increasing contribution from the launch of online and mobile betting in 2020 onwards.
Hard Rock Hotel & Casino Sioux City
Richard Brown, acting chief executive officer of GiG, said: “After a successful launch in New Jersey, I am delighted to further deepen the relationship with Hard Rock, delivering on our strategy to grow with our partner by entering a new state in the US with our sportsbook.
“The agreement is both a testament to our know-how and prowess to lead a land-based casino into the digital world of betting, and a strong validation of GiG’s commercial and product delivery capabilities.”
Iowa has approximately 3.2 million inhabitants and an estimated mature betting market of around $160m in revenues.
The tax rate on the sports betting revenue is 7.5%.
“Offering sports betting through GiG provides our players and guests a new level of engagement – we couldn’t be more thrilled to be launching in Iowa,” Jim Franke, general manager of Hard Rock Hotel & Casino Sioux City.