GiG has been granted two licences by the Directorate General for the Regulation of Gambling in Spain, permitting the company to offer online casino and sports betting in the country.
These licences 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, 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. The approximately €1bn market is the strongest growing market in Europe, at a rate of approximately 20 per cent per year, yet only 12 per cent of the gambling is happening online. Compared to more than 50 per cent in mature digital markets in Europe, this represents a great opportunity for GiG."
The entry to the Spanish market also serves as a gateway to the Latin American markets, with the establishment of GiG’s business in these markets seen as a key priority.
Meanwhile, GiG has reacted to its subsidiary Zecure Gaming having been handed a warning and penalty of SEK3.5m (€330k) by the Swedish Gambling Authority for alleged non-compliance.
The sanction was taken, GiG revealed, for displaying an under-17 game between Georgia and Slovakia on its Swedish site on January 28, 2019.
GiG stated: “This event was incorrectly offered online and no bets were taken from end users based in Sweden.
“GiG intends to appeal the sanction. The Company does not agree with SGA's assessment and conclusion as the presentation of an event cannot be considered the same as accepting bets on U18 games for the purposes of both determining the infringement and the quantum.
“GiG has taken the necessary measures to ensure that all games presented on the sites to end users in Sweden are in line with SGA's requirements and interpretation.”
