Spin Games has become somewhat of a mover and shaker in the software development niche in the US online gambling market and this latest news is a big deal for the company, after analysts earlier this year suggested that in the state of Connecticut alone, online sports betting and gambling revenue could reach nearly $420 million.
Indeed, Chief Executive Oficer at Spin Games, Kent Young highlighted the possibilities that potentially lie in store for the company, following this announcement, saying: “We are pleased to announce that we’ve received a Connecticut online gaming service provider license, enabling us to support North America’s newest soon-to-launch igaming market.
He continued: “This key regulatory approval confirms the ongoing strength of our company’s online gaming products and adds to our growing list of licensed jurisdictions including New Jersey, Pennsylvania, and British Columbia, and our provisional license in Michigan.
“We look forward to being part of Connecticut’s expansion into online gaming and are excited to be going live in the near future.”
Why this is a key move for Spin Games
Based in Reno, Nevada, it is essential for the company to make sure that they are getting as much exposure as possible and acting fast so that they can stay competitive. A state like Connecticut has a lot of potential for the firm to establish relationships with key operators and also make sure that there is wider market awareness about their products.
This also further adds to their momentum for the year, when in May, Spin Games agreed a $30 million acquisition deal with Bragg Gaming Group, which will help to take the brand to the next level and give it the financial backing that it needs in order to be a success.
The deal is anticipated to close in the fourth quarter of 2021, pending regulatory approval, however, that should not stop Spin Gaming from going about its every day business in the meantime.
What will be interesting to see is whether the company will pursue any other states such as Illinois, plus others pending further lifting of legislation and also how the market reacts to their latest agreement.
A former Press Association Sports Journalist (NCTJ – National Council for the Training of Journalists), now based in Lisbon, Matt also has over a decade of experience working with the top operator brands. These include Coral, BetVictor, and numerous others, having held a number of senior positions and still retains strong industry relationships. He enjoys reading, writing, travelling, all things business, sport, meeting new people, learning new things and also holds football coaching qualifications.