Gaming Innovation Group Obtains New Swedish License
Gaming Innovation Group (GiG), an iGaming solutions provider, has been granted a new software license by Swedish regulators. The license allows the company to continue providing its platform, software and services to licensed operators in the country.
The Swedish Gambling Authority (SGA) conducted a comprehensive review of GiG’s operations as part of the licensing process. The authority was looking for companies that uphold the highest standards in areas such as responsible gambling, anti-money laundering and customer protection.
Claudio Caruana, General Counsel for GiG stated, “As regulators continue to build more robust requirements on industry suppliers and operators, we will continue to dedicate our resources to ensuring that the development of our technology and procedures places us at the forefront on matters of compliance.”
The new license is a significant boost to GiG’s business in Sweden. The company already had a license to provide B2B services in the country. The additional license allows GiG to offer its products and services to B2C operators that have already been granted a license by SGA.
The B2C market is a lucrative one for GiG, with the company’s Q1 2023 financial results showing that B2C revenue made up 60% of total revenue. The Swedish market is seen as particularly lucrative due to its high level of regulation.
The Swedish license comes as part of GiG’s wider strategy to expand its presence in regulated European markets. The company has also been granted licenses by the UK Gambling Commission and Malta Gaming Authority.