The Directorate General for the Regulation of Gambling in Spain (DGOJ) has approved two licenses for Gaming Innovation Group Inc. (GiG) to offer online casino and sports betting. The licenses would allow GIG to further expand in the regulated and growing casino market.
GIG is planning to launch its operations in Spain with its flagship brand Rizk. The company is expecting to launch sports betting and online casino in the last quarter of 2019.
Robin Reed, CEO of GiG, says: “We are delighted to be awarded the Spanish licenses and are looking forward to serving the market with our top performing operator Rizk and our full suite of B2C and B2B products and solutions.”
“The approximately €1bn market is the strongest growing market in Europe, at a rate of approximately 20%* per year, yet only 12% of the gambling is happening online, compared to more than 50% in mature digital markets in Europe, this represents a great opportunity for GiG.”
Online gambling market in Spain has been expanding consistently. Total Gross Gaming Revenue in Spain in 2018 was approximately $10bn, of which online gambling was 12%. Forecasts estimate the online gambling share in Spain to rise to more than 18% by 2024.
Earlier in June, it was revealed that the first quarter online gambling revenue in Spain was up 20 percent year-on-year.
GiG currently has licenses and platform certifications in Malta, United Kingdom, the German State of Schleswig-Holstein, Sweden, Latvia, and Spain.