Online gambling operator and technology provider Gaming Innovation Group (GiG) announced that it has received permission to enter the Spanish online gambling market.
The company received two licenses from the local gambling regulator Dirección General de Ordenación del Juego (DGOJ), which will allow it to provide online sports betting and gambling services in the Spanish market.
GiG is announcing its entry into the local gambling space with its flagship brand Rizk. The recently obtained licenses also certify the online group’s gambling platform and bookmaker, and allow their services to be sold to third-party licensed operators.
GiG said in an official press release:
We plan to start our operations in the Spanish market sometime in the fourth quarter of the year and expand in the first quarter of 2020.
Commenting on the upcoming entry into the Spanish gambling and betting market, GiG CEO Robin Reed said:
We are delighted to have obtained Spanish licenses and look forward to serving the market with our high-performance operator Rizk and a full suite of B2C and B2B products and solutions.
Mr Reed also noted that with an annual growth of about 20%, Spain is the fastest growing regulated gambling market in Europe, although the online segment accounts for only 12% of the total market, compared to more than 50% in other European jurisdictions with regulated online gambling. … GiG considers this a “great opportunity” for their company.
Become an international operator
The expansion of GiG in Spain is fully in line with the company’s expansion strategy in regulated and rapidly growing global markets. In a press release on Monday, the gambling group said:
The issuance of DGOJ licenses represents another important step towards realizing our ambition to become a global operator and partner for strong brands in online gambling.
The company also said it is seeking to consolidate its leadership in “a select few markets with its B2C brands,” while expanding through B2B partnerships.
As reported yesterday at casinoz, rival gambling operator LeoVegas also announced that DGOJ has also granted it a license to provide online gambling and sports betting services.
GiG currently holds licenses or certifications from gambling regulators:
- Great Britain,
The company believes that obtaining Spanish licenses will serve as a gateway to Latin American markets, which is a “key priority” for GiG.
As previously mentioned, the gambling group is planning to enter the Spanish market with its flagship brand, Rizk.
Last month, GiG announced that it launched its own sportsbook with another major brand, Guts, as part of its strategy to transform Guts into a sports betting-focused brand while promoting Rizk as a casino-focused company. The GiG bookmaker first appeared in June 2018 together with Rizk.