For the past 26 years the Professional and Amateur Sports Protection Act (PASPA) has widely prohibited sports betting in the US. In repealing PASPA, (announced yesterday) the US Supreme Court has opened up a vast business opportunity for US sports betting companies focused on growing in regulated markets.
GiG embraces the repeal of the federal US sports betting ban. The repeal of the US sports betting ban enables all states to decide on their respective regulation of sports betting. The market expects some states to move quickly with several being ready to open up to sports betting this year.
This decision further supports GIG’s focus on growth in regulated markets, integrity in sports and responsible gaming. The repeal is perfectly timed with the advanced preparations made with GiG´s partner Hard Rock International, the application for the New Jersey license and the launch of the Company’s new proprietary and cutting edge sports betting services this month.
GiG CEO, Robin Reed – ‘We are confident we will have a fair and fun product to thrill and engage the US consumer’
GiG has been planning for this change and is well underway in its preparations to capitalise on the Company´s unique position. This market opportunity will be top priority for GiG. The Company will continue to invest and add resource to further develop and position its B2B product for what will be a highly competitive US market.