The organization has established its first-ever venture fund for startups looking to make a breakthrough in the casino gambling sector.
The SGIF officials said in a statement that the new venture fund would help startups and their organization would guide the startups through the process.
In its statement, SGIF also said that venture fund will play an invaluable role for startups, helping to guide them through the complex landscape of regulated gambling. It also aims to add further value to portfolio companies by helping to ensure optimal product fit and market access.
Leading the fund’s management team comprises Chris Grove, Partner at Eilers & Krejcik Gaming, said: “There’s no doubt that the keys to fully unlocking the potential of the US sports betting market are in the hands of startups. We’re just now starting to see the ideas that will ultimately define sports betting in the United States.”
“The pace of development in the US market only increases the opportunity for startups,” added Sargeant, who has evaluated hundreds of early-stage companies during his career. “Large casinos and software providers won’t have the bandwidth or resources to truly innovate. They’re too busy simply getting up and running.”