Gaming Innovation Group awarded two Swedish licenses

21 December 2018

(PRESS RELEASE) -- Gaming Innovation Group Inc. (GiG) has been awarded two licenses in the Swedish market. One license will be used for its in-house brands (RIZK, GUTS Casino, Highroller, Thrills Casino, Kaboo and Betspin) and the other license will be offered to its external customers.

The new Chairman of the Board, Petter Nylander, is one of the pioneers and driving forces behind the Swedish re-regulation of the gaming and gambling market. He also has significant experience from the iGaming industry as the former CEO of Unibet (now Kindred Group plc).

Petter Nylander, Chairman of the Board at GiG, says, “I am very excited in joining GiG in this dynamic market at this point in time, the company is 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.”

“There is an enormous potential for growth in regulated and soon-to-be regulated markets globally, such as in the U.S., which state by state we see swiftly opening up for online casino and sports betting. I am looking forward to driving the success of GiG to the next level. 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.”

Robin Reed, CEO at GiG, says, “I am delighted GiG is now ready for further growth in the regulated Swedish market where we have offered our online gaming entertainment since 2013. Sweden is a very important market, both to us and to many of our customers. We are looking forward to delivering our fair and fun offering to Swedish end users in the new regulated environment. GiG embraces a safe and trusted iGaming environment and has been and will continue investing in technology and people to be at the forefront of responsible gaming. Examples of our innovative player safety services include a leading marketing compliance tool "GiG Comply," machine learning and artificial intelligence to manage responsible gaming and a hands-on, in-house Player Safety Team which directly supports the end users.”

“We are excited about the potential for accelerated growth as we expand in regulated markets globally. The new Board of Directors brings all the knowledge and experience we need to further accelerate the Company in an increasingly regulated environment and to drive towards rapidly becoming the leading iGaming partner supporting our customers in building strong brands.”

The Swedish market will be regulated from 1 January 2019 with a betting duty of 18%, the licenses are awarded by The Swedish Gambling Authority, Lotteriinspektionen. GiG currently holds licenses in Malta, the U.K., New Jersey, Germany (Schleswig-Holstein), Sweden and has a pending license in Spain.

On 11 December, a new Board of Directors was elected by GiG’s shareholders at a Special Meeting in Oslo. Petter Nylander was elected new Chairman of the Board. Five Directors of the Board were elected: Helge Nielsen (former GiG Chairman of the Board), Henrik Persson Ekdahl (re-elected Director of the Board), Robert Burén (new Director of the Board), Frode Fagerli (new Director of the Board) and Paul Fischbein (new Director of the Board).

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