Tag Archives: GIG

Gustaf Hoffstedt: BOS – Swedish market requires clear guidance on under-18 wagering criteria

Gustaf Hoffstedt, Secretary-General of Swedish online gambling trade association BOS, has requested that gambling inspectorate Spelinspektionen offer clarity on recent fines related to ‘betting on sports events’ sanctioned under Chapter 8 of Sweden’s revamped Gambling Act. Requesting an ‘urgent meeting’, the BOS leader urges Spelinspektionen to offer ‘clear and detailed guidance’ on Chapter 8 and its board definition, related to …

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GiG expands Euro profile with upcoming Spain & Romania launches

Stockholm-listed Gaming Innovation Group (GiG) has expanded its European footprint by securing new licensing provisions for the markets of Spain and Romania. Updating investors, GiG governance confirms that Spanish gambling regulator DGOJ has granted GiG B2C online sportsbook and casino licences. The company has also disclosed that it will move to launch its flagship RIZK brand for the Spanish market, …

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Norway’s KLP fund terminates all gambling investments

Kommunal Landspensjonskasse (KLP) Norway’s €70 billion public pension fund has confirmed that it will no longer invest in gambling or alcohol-related enterprises. Business news sources have reported that KLP governance has sanctioned a complete sale of its holdings in gambling and alcohol businesses, impacting around 90 firms. Moving forward, KLP states that it will no longer invest in companies that …

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UKGC cracks AML whip issuing £4.5m penalty packages for ‘weak controls’

The UK Gambling Commission (UKGC) has imposed £4.5 million in penalty packages on four online casino operators in relation to failed AML procedures and maintaining inadequate consumer safeguards. The penalty packages form part of the Commission’s ongoing investigation into the UK online casino sector. In its update, the UKGC confirms that InTouch Games will pay £2.2 million in lieu of financial penalties for …

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Swedish adjustment sees GiG report Q1 2019 revenue dip

Issuing its first trading statement as a Nasdaq Stockholm-listed enterprise, Gaming Innovation Group (GiG) details a tough opening to 2019 trading, as the company undertakes Swedish market adjustments. Updating investors, GiG records a 13% group revenue decline to €32 million (Q12018: €37m), attributed to anticipated Swedish market costs following the re-regulation of the market. Swedish adjustments impacted GIG’s revenue segments …

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Kindred integrates new GiG Comply technology to monitor affiliate activity

Gaming Innovation Group (GiG) has penned a new deal with Kindred Group which will see them integrate its new B2B marketing compliance technology, GiG Comply, across its business model. The new technology will allow Kindred to track affiliate activity and content across its online betting and gaming brands, ensuring that compliance is upheld. It will also offer the chance to …

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GIG begins new journey on Stockholm Nasdaq

Marked as a major corporate milestone, Gaming Innovation Group (GIG) will begin trading as a Stockholm Nasdaq enterprise today (Tuesday 26 March), having secured main market listings approval. Moving forward, GIG will now operate as a dual-listed enterprise, with its shareholding maintained on the Stockholm Nasdaq (ticker – GIGSEK) and Oslo Børs (ticker – GIG). GIG’s Stockholm IPO has been assisted …

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Lotteritilsynet deepens Norway payment blackout

Norway’s gambling authority Lotteri-og Stiftelsestilsynet (Lotteritilsynet), continues its hardened stance against remote gambling operators, deemed to be illegally targeting national consumers. Upping its command on restricting remote gambling services, this weekend Lotteritilsynet revealed that it had ordered all Norwegian licensed banks to block payment transactions which could be identified for the purposes of online gambling. The Times of Malta reports …

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GiG hits 2018 guidance despite difficult year-end landing

Publishing its final trading statement as an Oslo Bors listed enterprise, Gaming Innovation Group (GiG) details that it has fulfilled on expectations set-out in its 2018 corporate guidance, despite facing a turbulent Q4 2018 closing period. Updating investors, GiG informs that during Q4 2018 trading the company would move to write-down four of its ‘in-house brands’ restructuring its B2C division. …

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Robin Reed: GiG – Stockholm new boy will match the sector’s active opportunities

Robin Reed Chief Executive and Co-Founder of Gaming Innovation Group (GiG) has detailed his firm’s strategic vision and future strategy to new investors, as GIG prepares to end 2019 by listing as a new Stockholm Nasdaq enterprise. Founded six years ago in Oslo, Reed details that GiG’s enterprise founding team have been led by the mission of delivering ‘digital transformation’ …

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