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Gaming Innovation Group Launches Online Casino With SkyCity in New Zealand
SkyCity is one of Australasia's leading gaming, entertainment and hospitality groups with world-class casino facilities in both New Zealand and Australia . SkyCity is a listed company in both New Zealand and Australia with a current enterprise value of around NZ$3bn (€1.8bn). SkyCity's vision is to be the leader in gaming, entertainment and hospitality in its communities. Responsible gaming is one of the cornerstones of its focus on sustainability and being a good corporate citizen.
The offshore online gambling market in New Zealand is currently estimated at approximately NZ$160m (€96m)* with the total gambling market in New Zealand estimated at NZ$2.7bn (€1.6bn) 2019e**. The New Zealand market is following the world-wide trend of strong and accelerating growth in online channels, underpinned by changing demands of consumers and a constant evolution of technology. The general expectation is that the country will regulate online casino gambling in the foreseeable future. All gambling which takes place in New Zealand is regulated by the country's Department of Internal Affairs.
This partnership is expected to make a significant positive contribution to GiG's revenues from 2020 onwards, however GiG does not expect a material impact on its revenues in 2019.
On news of today's announcement, Graeme Stephens , Chief Executive Officer of SkyCity says: "
Robin Reed , Chief Executive Officer at GiG says:
*Source: SKYCITY
**Source: H2GC
Gaming Innovation Group Inc. is a technology company providing solutions, products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is 'To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, GiG is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
Robin Reed , CEO of GiG, robin@gig.com +356-999-903-82
Anna-Lena Åström, GiG Head of IR & Corporate Communications, anna.lena@gig.com +356-796-998-48
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https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-launches-online-casino-with-skycity-in-new-zealand,c2875742
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