SG Digital Partners with GeoComply in Preparation of Regulated Sports Betting in the US
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May 1, 2018 (Vancouver, Canada) – GeoComply today announced that it has signed an agreement with Scientific Games Corporation (NASDAQ: SGMS) to provide its market-leading geolocation compliance services to the company in anticipation of regulated sport betting being legalized in the United States.
GeoComply’s geolocation technology will be integrated into the OpenBet platform, SG Digital’s innovative and best-of-breed sports betting solution. GeoComply will verify a player’s wager is placed from a location authorized for legal sports betting, to ensure compliance with federal and state regulations.
“Scientific Games has been a long-time partner of GeoComply since the onset of U.S.-regulated iGaming, having first gone live with our geolocation technology in New Jersey in 2013,” states GeoComply USA CEO Anna Sainsbury. “As a market innovator, they have taken the initiative to anticipate the U.S. sports betting market’s regulatory needs by integrating our geofencing capabilities into their products. This move ideally positions Scientific Games as the industry awaits the Supreme Court decision on the Professional and Amateur Sports Protection Act (PASPA).”
Quinton Singleton, Vice President of Corporate Strategy and Government Affairs of SG Digital, said: “Having recently announced that our sports betting solution is already under review by the New Jersey Division of Gaming Enforcement, Scientific Games sees itself at the forefront of the industry to mobilize and offer live online sports wagering as soon as the law permits. GeoComply’s technology is key for preparing and licensing our solution in such a highly anticipated time in our industry.”
New Jersey is currently challenging the constitutionality of PASPA. The federal statute, implemented in 1992, made gambling on professional and collegiate athletics illegal. If PASPA is repealed, a report published by U.S. gambling research consultancy Eilers & Krejcik Gaming has indicated that up to 30 states could introduce licensed sports betting bills.
GeoComply is a global leader in geolocation technology. Since launching in 2012, GeoComply has quickly become the iGaming industry’s trusted solution for reliable, accurate and precise geolocation services. GeoComply’s patented and proprietary geolocation solution is unparalleled in its level of accuracy and integrity, as well as in its depth of security and ease of implementation. GeoComply’s solutions have been utilized on over 250 million devices and perform an average 10 million verification checks per day. For more information, please visit www.geocomply.com.
GeoComply USA: Anna Sainsbury, Chief Executive Officer
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is a world leader in gaming entertainment offering the industry’s broadest and most integrated portfolio of game content, advanced systems, cutting-edge platforms and professional services. The company is #1 in technology-based gaming systems, digital real-money gaming and sports betting platforms, casino table games and utility products and lottery instant games, and a leading provider of games, systems and services for casino, lottery and social gaming. Committed to responsible gaming, Scientific Games delivers what customers and players value most: trusted security, engaging entertainment content, operating efficiencies and innovative technology. For more information, please visit www.scientificgames.com.
Scientific Games: Michael Quartieri +1 702-532-7658
Executive Vice President and Chief Financial Officer
Scientific Games: Susan Cartwright +1 702-532-7981
VP, Corporate Communications
In this press release, Scientific Games makes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “will,” “may,” and “should.” These statements are based upon management’s current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks and uncertainties and other factors, including those factors described in our filings with the SEC, including the Company’s current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on March 3, 2017 (including under the headings “Forward Looking Statements” and “Risk Factors”). Forward-looking statements speak only as of the date they are made and, except for Scientific Games’ ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
Source: European Gaming Industry News