Parting ways
Hard Rock International and Gaming Innovation Group (GiG) have announced they are parting ways when it comes to their sports betting service and platform deal. Though the partnership was considered successful, the companies were unable to come to an agreement that supports individual company goals.
Hard Rock will allow GiG to void the exclusivity clause listed in the contract agreement. The supplier will now be able to pursue new opportunities in the United States online gambling sector.
Hard Rock International needs new provider
Without GiG at the helm, Hard Rock will need to move its online operations to a new provider. It is expected that this will take place in the first quarter of next year. For retail sports betting services, Hard Rock will move to a new provider before the year’s end, though there is no word on who that provider might be.
we believe there are considerable areas of growth globally”
According to GiG, the agreement with Hard Rock represented less than 2% of revenues over the past year. The supplier stated that the termination of the deal will not impact its guidance for this year. Richard Brown, chief executive of GiG, said that the company has a strong position to pursue new business opportunities in the US as the gambling landscape is quickly evolving, saying: “The global gambling market is an exciting one and we believe there are considerable areas of growth globally.”
Kresimir Spajic, the senior VP of online gaming and sports betting for Hard Rock, commented that the company is thankful for GiG as it helped the brand take its first steps in US online gaming and sports betting.
Two-year partnership
Hard Rock International worked with GiG for two years, having first signed an agreement for New Jersey online sports betting services in 2018. The sportsbook launched in January 2019 and the partnership grew from there.
In December 2019, GiG launched a mobile sportsbook for the Hard Rock Hotel & Casino Sioux City in Iowa to support the land-based services at the casino. When the mobile app launched, players were required to visit the casino to set up an account before betting could begin.
Hard Rock Sioux City will be one of the company’s facilities affected by the terminated agreement and will require a new provider for both its retail and mobile sportsbooks.