Hard Rock eyes B2C acquisition to boost European expansion
Casino giant eager to buy European egaming operator with proprietary in-house technology
Hard Rock is weighing up potential B2C acquisitions as it considers expanding its online gaming and betting operation into Europe, EGR Intel has learned.
Speaking to EGR NA, Kresimir Spajic, Hard Rock’s SVP online gaming and sports betting, said the operator was looking at second and third-tier brands that operate proprietary in-house technology.
The firm is looking to use its wide-reaching brand awareness – thought to be 80% globally – and significant capital to grow its gambling footprint in the European market.
Hard Rock’s brand awareness is 94% in the US, while that figure drops to approximately 88% in key European territories including the UK and Italy.
Gaming Innovation Group (GiG) powers the Hard Rock sportsbook in New Jersey and Iowa and it is understood that Hard Rock considered buying GiG’s B2C portfolio before it was sold to Betsson.
The operator makes up around 5% of the online gaming market in New Jersey according to estimates from boutique research firm Eilers & Krejcik Gaming.
It recently launched a first-of-its kind live slots feature than enables players to bet on real life slot machines via the app.
Spajic said the feature had resulted in a 5x higher bet limit among its online slots players and was serving as a valuable omni-channel tactic.
He said the operator was considering entering Pennsylvania with its online gaming product.