Coastal Integrated Services, Inc. (COLV) Enters Online Casino Market following Acquisition of Olympian Group

Since the first internet casino was launched in 1996, the online gambling industry has been among the fastest growing industries in the world. In February 2015, the University of Nevada, Las Vegas Center for Gaming Research reported that total online gaming revenue in the United States was just under $11.7 million, despite the fact that just three states – Nevada, Delaware and New Jersey – have legalized any form of online gaming.

While this report demonstrates the considerable demand for online gaming, the market’s true potential is more difficult to illustrate. In part, this is because of the sheer lack of available research regarding the global online gaming market, but reports regarding the popularity of the gambling industry as a whole highlight a strong demand for innovative gaming options in a collection of markets.

According to IBISWorld, the global casino and online gambling industry has trended upward over the past five years, growing to $274 billion in 2015. The research firm also suggests that strong growth will continue moving forward, driven by heightened demand for gambling options in China and other Asian nations.

On Tuesday, Coastal Integrated Services took a major step toward capitalizing on this projected growth by entering into a definitive merger agreement to acquire Olympian Group, an international online casino and sportsbook operator. Gr88.com, Olympian’s sports betting and casino brand, recorded over $14 million in gambling bets in 2014, realizing a year-over-year increase of 374 percent. In an effort to build on this growth, COLV outlined intentions to introduce the Gr88.com brand to the Asian market in the coming months.

“Our first order of business will be to launch into targeted Asian markets,” Clifford Redekop, newly-appointed chief executive officer of COLV, stated in a news release. “We know we have something special with this brand and will focus on Gr88 as our flagship site with significant marketing and driving brand recognition.”

In addition to providing a platform upon which to promote financial growth, COLV is also using the Olympian Group acquisition to initiate a corporate reorganization that’s expected to position it to qualify for NASDAQ listing within the next year. For prospective shareholders, this aggressive growth strategy makes COLV an intriguing investment opportunity.

For more information, visit www.coastalintegratedservices.com

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