GiG have just announced some exciting news as they’ve secured two igaming licenses which means they can now offer their services in the regulated Spanish market. The new licenses now cover both online casinos and sports betting means the Gaming Innovation Group can really start to extend their target audience.
Entering the Regulated Market
Both of the new licenses have been awarded by the Directorate General for the Regulation of Gambling in Spain and will see GiG enter the Spanish market. The operators and suppliers have also pledged to appeal a penalty fee that was levied by the Swedish regulator Spelinspektionen.
The penalty was handed to Zecure Gaming who are a subsidiary of GiG as a result of accepting underage members. However in a statement released by GiG they announced they do not agree with the conclusion and so are appealing the SEK3.5m financial penalty.
But as the exciting news hits realisation the igaming solutions provider have announced how they plan to enter the Spanish market. They’ve picked their flagship brand, Rizk and they’ll also certify their property gaming platform and sportsbook to sell to external licensed operators.
GiG have acquired two new igaming licenses allowing them to enter the Spanish regulated market.
They've estimated that they’ll take their first bets from players in Spain during the first quarter of this year and they’ll be upscaling their operations into the beginning of next year.
GiG are already present around the globe with the licenses they currently hold in Malta, the United Kingdom, the German State of Schleswig-Holstein, Sweden and Latvia.
Following yet another milestone for the suppliers Robin Reed the Chief Executive at GiG said “We are delighted to be awarded the Spanish licences and are looking forward to serving the market with our top performing operator Rizk and our full suite of B2C and B2B products and solutions."
He also went on to add “The approximately €1bn market is the strongest growing market in Europe, at a rate of approximately 20% per year, yet only 12% of the gambling is happening online, compared to more than 50% in mature digital markets in Europe, this represents a great opportunity for GiG.”
Congratulations to GiG on their exciting news and good luck in the future from the AskGamblers team.