Gaming Innovation Group has announced that it has received a new license for Sweden. The largest iGaming and sportsbook provider announced that it had received approval from Spelinspektionen. This allows them to continue selling their B2B products before the introduction of new regulations.
Sweden has recently decided to regulate online casino providers and will only allow B2B licensed companies on the market starting July 1.
GiG is very proud of its new license. The company is listed on NASDAQ and has been in the market ever since its launch. The company can now continue to supply operators in the country its premium iGaming products.
Sweden is a significant European iGaming Market with an estimated revenue of $1.37 billion by 2022. This was a 6% growth year-over-year, proving Sweden’s evolution as an iGaming market.
GiG’s strategy for global expansion is centered on regulated gambling markets. The supplier has licenses in 29 countries and is waiting for approval to launch in eight more. The provider can also demonstrate its commitment to local regulations by securing the new license in Sweden.
GiG Vows to Remain Compliant
Claudio Caruana commented on the new licence. He stated that his company was committed to adhering to the rules. GiG is therefore prepared to devote its resources in order to comply with new regulations.
We will continue to devote our resources in order to ensure that our technology and processes are at the forefront of matters of compliance as regulators continue building more robust requirements for industry suppliers and operators.
Claudio Caruana is the general counsel of GiG
Marcel Elfersy GiG’s Chief Commercial Officer, released a similar statement. He said that GiG had been a major player in Sweden for a long time and that it was based in the area. GiG’s staff is able to appreciate and understand the local market, and they are keen on continuing their business in Sweden.
Our sportsbook and platform are well-suited to the increasingly complicated regulatory environments in Sweden. We look forward to helping to power sustainable growth there with our experience, leading software, and dedicated, localized services.
Marcel Elfersy, CCO, GiG
GiG has just published its Q1 financials. This is a continuation of the momentum that began in 2022.
