In a significant development for the iGaming sector, Internet Vikings, a leading name in the field of igaming hosting, has secured approval from the Pennsylvania Gaming Control Board to launch its Multi-Tenant Cloud hosting product in the state of Pennsylvania. This strategic move holds great promise for both the company and the larger industry landscape.
Embracing Innovation in iGaming Hosting
The Pennsylvania Gaming Control Board’s recent authorization for Internet Vikings to introduce its Multi-Tenant Cloud hosting product marks a notable milestone in the evolution of the iGaming industry. This progressive step not only strengthens Internet Vikings’ position but also presents a solution to the industry’s pressing global hardware shortage.
Addressing Industry Challenges: Hardware Shortage and Global Market Entry
Internet Vikings Founder and CEO, Rickard Vikström, expressed his satisfaction with the Pennsylvania Gaming Control Board’s decision. He highlighted that the approval empowers the company to tackle the prevailing hardware shortage that has been challenging the industry. This shortage has hindered the efficient and timely deployment of iGaming services. With the green light from the Control Board, Internet Vikings can play a pivotal role in addressing this concern and equipping its clients with a competitive edge to swiftly access the American market.
Enabling Swift Market Entry: A Competitive Advantage
The permission to operate Multi-Tenant Cloud hosting services in Pennsylvania not only streamlines market entry but also accelerates the process for iGaming and online sports betting businesses. This seamless and efficient hosting solution enables these businesses to navigate the complex landscape of the American market with agility.
Diversified Expansion: Strengthening Industry Footprint
Having made its debut in the US market in 2021, Internet Vikings has been progressively expanding its reach across various states. States such as Louisiana and Iowa have already witnessed the deployment of the company’s offerings. This expansion is a testament to Internet Vikings’ commitment to enhancing its services and contributing to the growth of the iGaming ecosystem.
Pennsylvania’s Gaming Revenue Surge: A Fertile Ground for Innovation
Pennsylvania’s gaming industry has been experiencing a consistent uptick in revenue. In October, the combined revenue from regulated gaming and fantasy contests surged to $450.2 million, marking a significant 5.7% increase compared to the same period in the previous year. This positive growth trajectory not only provides a thriving environment for iGaming hosting solutions but also reflects the robustness of the state’s gaming landscape.
Revenue Streams: A Holistic Perspective
The revenue generated from regulated gaming activities is a culmination of various streams, each contributing to the state’s overall success. These include slot machines, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals (VGTs). A nuanced understanding of these diverse revenue sources is crucial to comprehending the dynamics of Pennsylvania’s gaming industry.
Slot Machines and Table Games: A Balanced Analysis
Within this revenue mosaic, the revenue generated from retail slot machines and table games is of particular significance. The figures indicate a 2% decrease year-on-year in retail slots revenue, amounting to $199 million. Additionally, retail table games revenue recorded a 10% decline, totaling $79.8 million. These insights underscore the need for continuous analysis and strategic decision-making to ensure a sustained and thriving gaming industry.
Paving the Way for iGaming Evolution
Internet Vikings’ approval to deploy its Multi-Tenant Cloud hosting product in Pennsylvania stands as a testament to the company’s commitment to innovation and excellence. This advancement not only addresses industry challenges but also contributes to the growth of the larger iGaming ecosystem. The surge in Pennsylvania’s gaming revenue provides a fertile ground for such innovative strides, paving the way for a dynamic and prosperous future for the iGaming industry. As the industry evolves, strategic partnerships and cutting-edge solutions like those offered by Internet Vikings will undoubtedly play a pivotal role in shaping its trajectory.