Gaming Innovation Group secures UK sports betting licence

Gaming Innovation Group’s (GIG) Guts.com and SuperLenny.com have become the company’s first brands to launch UK-facing sportsbook products following its licensure in the market.

GIG recently obtained a sports betting licence from the Gambling Commission, enabling its B2C brands, third-party operator clients and white label partners to launch sports betting in the UK.

The Malta-headquartered firm was already live in the market with online casino.

“Being awarded the licence is a great achievement which will benefit both our internal B2C brands and our white label customers who can now offer their sports betting services to end-users,” Robin Reed, GIG chief executive, said.

“The UK is amongst the most competitive markets for sports betting worldwide and entering the market is a bold statement of our intentions within sports betting and within our regulated market strategy.”

In other GIG news, the company also announced today it had issued an SEK 400m (£36m) senior secured bond in the Nordic bond market to fund its acquisition strategy.

According to the firm, the net proceeds will primarily be used to acquire new assets within the affiliate marketing space, as well as being used to refinance existing debt of €6m.

“Our vision is to interconnect the operators and suppliers of the iGaming industry in an eco-system,” Reed said.

“The proceeds from this bond placement will allows us to acquire and invest into marketing businesses and distribution channels.

“This will greatly increase our traffic driving capability to our rapidly expanding eco-system.”