GiG looking to power ‘sustainable growth’ with Swedish licence

Sweden flag
Image: Shutterstock

Gaming Innovation Group has announced it has been awarded a gambling software provider licence for its platform in Sweden by Spelinspektionen, the country’s gaming authority.

The approval has been received by GiG ahead of the new regulatory changes in the country which require all B2B software providers in the Swedish market to licence their technology in line with the updated legislation. The new regulations will come into effect on July 1, 2023.

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.”

Listed on NASDAQ Stockholm, GiG has been present in the Swedish market since its launch, powering several partners in the country including Suprnation, Lucky Days and Betsson’s Zecure brands.

With the addition of Sweden, the platform provider is now licensed in over 29 regulated markets with eight more to be added shortly.

“We have been an active presence in Sweden for many years, with the company having its origins in the region, and we have a deep understanding of the needs of operators in the local market,” added Marcel Elfersy, Chief Commercial Officer at GiG.

“Our platform and sportsbook are well suited to the increasingly complex regulatory environments there and we look forward to continuing to help power sustainable growth in Sweden with our depth of experience, leading software and dedicated, localised service.”

Earlier this month, GiG stated it took “a multitude of successful and impressive steps forward” during Q1 which are “contributing to create excitement within the business of further potential”.