Gaming Innovation Group Gets Set to Enter Sweden’s Licensed Gambling Market

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Gaming Innovation Group (GiG) has made significant progress in Sweden’s newly regulated gambling market by securing two new licenses in the latest round of regulated permits.

The group will use one of the licenses to cover its in-house brands that incorporate well-known names such as Guts Casino, Rizk Casino, BetSpin , Kaboo Casino and Highroller Casino.
The second license will be used to cover GiG’s external white label customers.

GiG’s new chairman of the board is Petter Nylander who has been one of the most noteworthy personalities behind the regulation and growth of Sweden’s gambling market. Nylander is the former chief executive officer of Unibet (now known as Kindred Group Plc).

After GiG received approval from Sweden’s gambling regulatory board that it had secured two licenses, Nylander expressed his satisfaction at being part of the GiG story at this dynamic point in time. He said that GiG was ready for its next phase of expansion with an accelerated need for compliance and end user safety.

“GiG will shortly be moving its listing to Sweden and it is a pleasure to see the Swedish market re-regulate, which is something I have personally been fighting for over a significant period,” he said.

Nylander pointed out that that were was tremendous potential for growth in regulated and soon-to-be regulated markets around the globe, such as in the United States where state after state is quickly opening up its online casino and sports betting markets.

“I am looking forward to driving the success of GiG to the next level,” he said. “GiG is uniquely positioned with its B2B solutions and B2C offering covering the whole value chain in iGaming and is supported by a strong Board in its further growth and opportunities.”

GiG has been part of the online gambling market in Sweden since 2013. The chief executive officer of GiG, Robin Reed, pointed out that Sweden is an important market and the group looks forward to offering its fair and fun offering to Swedish gamblers in the newly regulated environment.

GiG already has gambling licenses in jurisdictions such as Malta, New Jersey, Germany’s Schleswig-Holstein state, the United Kingdom and now Sweden. It also has a pending license in Spain.

From January 1st, 2019, the Swedish gambling market will become re-regulated and will carry a betting duty of 18%.

In the meantime, the Swedish Gambling Authority, Lotterinnspektionen has awarded scores of new licenses to eligible operators, including over 25 in the latest round. Some of the top names in the industry, including Betfair were awarded licenses. Cherry was also allocated eight gambling licenses. No more licenses will be awarded this year but the authority will study several more applications early next year.
 

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