The Connecticut Department of Consumer Protection has granted Spin Games an online gaming service provider licence.
When state-approved online gaming operators go live later this year, the firm will be able to deploy its ROC Remote Gaming Server platform and online content via state-approved online gaming operators after getting approvals for conforming with the state’s technical standards.
The US Bureau of Indian Affairs recently gave final approval to the region’s changes to the state’s current gaming compacts with the Mashantucket Pequot Tribe and the Mohegan Tribe, and Governor Ned Lamont expects the activity to be available this month.
Analysts predicted earlier this year that combined yearly revenues from online sports betting and igaming in Connecticut might reach $418 million, making the state “valuable” from launch.
Soon-to-launch igaming market
Kent Young, Spin Games’ chief executive officer and chair said: “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.”
Bragg Gaming acquired Spin Games LLC in strategic US deal in May 2021, with the transaction scheduled to completion in the fourth quarter of that year, pending regulatory approval.
Sellers of the Nevada-based B2B gambling technology and content company will get $10 million in cash and $20 million in Bragg common shares, of which $5 million will be issued upon closing and the rest over the next three years.