Relax Gaming has received a B2B licence from the Gibraltar Gaming Authority, enabling the igaming aggregator and content supplier to focus on growth and new opportunities in key markets around the world.
The Malta-based firm has already received regulatory approval from the UK Gambling Commission, Malta Gaming Authority, and Romanian National Gaming Office, and provides a wide range of content to partners in regulated markets in Denmark, Sweden, Estonia, and Latvia. However, the Gibraltar B2B license will open further doors to expansion and provide a number of new partnership opportunities for its casino, poker, and bingo products across Europe.
Commenting on the certification, Relax Gaming chief executive Tommi Maijala commented: “Securing approval from the Gibraltar Licensing Authority is a key pillar in our growth strategy and we are delighted that all our products and services have been fully certified by the regulator, providing us with new avenues to extend our reach and add significant value to our third-party suppliers.
“The licence will allow us to push ahead at full speed in our core focus markets and progress deals with the industry’s biggest names. With the landmark partnerships that are already in the pipeline, this next growth phase promises to rapidly expand our market reach.”
2020 has already proved a bumper year for the firm, which has signed a number of new partnerships including a deal with online casino EnergyCasino back in May, before later securing deals with other household name igaming firms over the summer. And with regulatory licences from the UK, Malta, and Gibraltar now secured, the company has big plans for the next year.
The last 12 months have seen strong growth for the online gambling sector in general, with the global online gambling market is expected to grow from $58.9 billion (£44.2bn) in 2019 to $66.7 billion (£50bn) in by the end of 2020 at a growth rate of 13.2 per cent. The pandemic had a significant impact on the traditional offline casino business, but the application of technologies like virtual reality, live streaming and live casino games emerged as a profitable and sustainable alternative amidst the economic setbacks in the industry.
Whilst the summer was more difficult for sports betting, with only a handful of professional sports tournaments taking place, the latter half of the year has seen strong growth in the sector has given the industry significant opportunities to regain much of the earlier lost ground. Indeed, due to the NBA and NHL playoffs being delayed in the US, for the first time in history there was the possibility of the public betting on live action from all major US sports simultaneously – baseball, basketball, hockey and American football, which has been a lucrative period for the industry. It remains unclear whether such strong growth can be maintained as the world starts to return to normal in 2021, and other real world entertainment venues reopen, but the pivot to digital that many gambling firms have made this year will likely become permanent shifts.