Spin Games has been granted an online gaming service provider licence by the state of Connecticut Department of Consumer Protection.
This will enable the group, upon receiving approvals for complying with the state’s technical standards, to deploy its ROC Remote Gaming Server platform and online content via state-approved online gaming operators when they go live later this year.
The region recently received final approval from the US Bureau of Indian Affairs to the revisions it made to the current gaming compacts between the state, the Mashantucket Pequot Tribe and the Mohegan Tribe, with Governor Ned Lamont anticipating the activity to be available this month.
Earlier it the year, analysts suggested that online sports betting and igaming in Connecticut boast the potential to reach $418m in combined annual revenues, and could become “valuable” to the state at launch.
“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,” commented Kent Young, Spin Games’ chief executive officer and chair.
“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.”
In May 2021, Spin Games agreed to be acquired by Bragg Gaming Group in a transaction that is expected to close in the fourth quarter of 2021, subject to regulatory approval
Under the terms of the deal, sellers of the Nevada-based B2B gaming technology and content provider will receive $10m in cash and $20m in common shares of Bragg, of which $5m in common shares will be issued on closing and the balance over the next three years.