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“GiG is in a strong position to pursue further business opportunities in a fast-evolving US landscape, which we now look (GiG) (STO: GIGSEK) and Hard Rock International (HRI) have agreed to a “mutual termination” of their platform and sportsbook services arrangement.According to a story from CDC Gaming Reports, the Wyomissing-based firm is responsible for 41 land-based casinos spread across 19 states and completed the open-market sale of about 16....
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”Added advancements:Snowden reportedly explained that Penn National Gaming Incorporated will now moreover look to add new products and features to the online sportsbetting innovation while simultaneously bringing Barstool-branded retail sportsbooks and bars to its estate of land-based casinos. We have a high quality, innovative omnichannel solution that we have built out of work with HRI and a very competitive casino offering that can be tailored to the US market which we believe can lead to future success as more states begin to regulate online.Both parties were in agreement that while the relationship was a “fruitful” one, culminating in an upswing in results during 2020, they were unable to come to terms for a commercial agreement that would support the other’s strategic aims....
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Accordingly, GiG will be immediately released from an exclusivity clause in the contract with Hard Rock, allowing for the Malta-headquartered B2B company to pursue new business prospects in the U.”Added advancements:Snowden reportedly explained that Penn National Gaming Incorporated will now moreover look to add new products and features to the online sportsbetting innovation while simultaneously bringing Barstool-branded retail sportsbooks and bars to its estate of land-based casinos.1 million via a share sale....
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1 million via a share sale.Opportunities beyond:In a statement in a company press release, Chief Executive Officer for Gaming Innovation Group, Richard Brown, commented on the parting of ways…“Through the partnership with HRI the GIG organisation has been able to build and customise a very strong omnichannel product which has helped HRI online to break records during 2020.Both parties were in agreement that while the relationship was a “fruitful” one, culminating in an upswing in results during 2020, they were unable to come to terms for a commercial agreement that would support the other’s strategic aims....
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