STOCKHOLM, July 1, 2019 /PRNewswire/ -- Gaming Innovation Group Inc. (GiG) has been granted two licences by the Directorate General for the Regulation of Gambling in Spain (DGOJ) permitting the Company to offer online casino and sports betting in Spain. These licences will enable GiG to operate in Spain and form part of its expansion strategy in regulated and fast growing markets.
GiG is expecting to enter the Spanish market under these licences with its flagship brand Rizk. Simultaneously, GiG is also certifying its proprietary gaming platform and sportsbook, to sell to external licensed operators. GiG expects to take the first bets in Q4 and to scale up operations in Q1 2020.
Robin Reed, CEO of GiG, says: "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. 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."
The launch into Spain follows GiG's strategy of becoming a global operator and partner for strong brands in iGaming. GiG is seeking to be a leader in a few select markets with its B2C brands, while expanding globally through B2B partnerships.
Spain regulated online gambling on a national level in 2011, the offline to online transition is further driving growth. Total Gross Gaming Revenue in Spain in 2018 was approximately $10bn, of which online gambling was 12%. Forecasts estimate the online gambling share in Spain to rise to more than 18% by 2024**.
The entry to the Spanish market also serves as a gateway to the Latin American markets, the establishment of our business in these markets is a key priority. GiG currently has licences and/or platform certifications in Malta, United Kingdom, the German State of Schleswig-Holstein, Sweden, Latvia and Spain.
*Source: Eilers&Krejcik Gaming
About Gaming Innovation Group (GiG)
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is 'To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. GiG operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
For further information, please contact:
Robin Reed, CEO of GiG, email@example.com
Anna-Lena Åström, GiG Head of IR & Corporate Communications, firstname.lastname@example.org
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SOURCE Gaming Innovation Group