Gaming Innovation Group Applies For Spanish License

As an integral part of the company's ambitions to expand on various regulated markets in 2019, Gaming Innovation Group (GiG) has filed in an official application for online B2B casino and sports betting licenses in Spain.

As a provider of state-of-the-art technological solutions to the casino industry worldwide, GiG will certify their B2B platform and will, in case their request is approved, offer services and other solutions to external operators who also bear the Spanish market's license.

The launch of their B2B and B2C offerings in this country is scheduled for the second half of next year.

Spain Keeps Looking Up

The official press release provides a confident outlook on Spanish launch, stressing the importance of such a promising market for GiG's long-term plans...

...By reminding us that gambling is an important part of Spanish culture, especially in the past twenty years during which country's per capita spending rose to become one of highest in Europe, the company's officials say that Iberian Peninsula country's transition from offline to online has kept driving growth.

One particular segment stood out during this time: sports betting. It has contributed in quite a significant way recently…

The Spanish gaming regulator has published a success story that are country's gaming figures for 2018...

...Virtually all of them are good news, as every gaming vertical made a startling jump compared to last year – a 29% annual GGR increase, with sports wagers in particular making a 21.6% leap compared to 2017 – much thanks to World Cup.

Well Prepared for Market of That Caliber

GiG's statement further reads:

“Total Gross Gaming Revenue in Spain in 2017 was approximately $10bn, of which online gambling was 10%. Forecasts expect this to rise to more than 15% by 2023. Spain is looking into harmonising regulation relating to responsible gaming and gambling advertising, in line with other regulated markets, increasing player safety and market sustainability.”

It finishes off by claiming that the company is very well-positioned for market opportunities such as those that Spain represents, with all iGaming verticals covered. GiG has the capacity to “support operators' growth with its turnkey solutions and cutting edge services, product and solutions which can be optimized for bespoke requirements.”

Recent Breakthroughs

Currently licensed under UK, Malta, Germany: Schleswig-Holstein and New jurisdictions, as well as two licensed pending in Sweden, GiG penned an agreement with Hard Rock International in late November that will see them integrate their omni-channel sportsbook solutions in first quarter of 2019.

Also, the Malta-based brand launched their new Pay N Play product, GutsXPress - online casino players in Sweden, Finland and Germany will be the first to benefit from this revolutionary product that lets players enjoy games for what they are, with no promotions or bonuses thrown their way.

Source:

“Gaming Innovation Group Applies For Spanish License as Part of Expansion on Regulated Markets”, gig.com, December 18, 2018.