Gaming Innovation Group Inc. (GiG) subsidiary Zecure Gaming Ltd, which operates its inhouse brands in Sweden, has been given a warning with a penalty of SEK3,500,000, equivalent to approximately EUR330,000, by the Swedish Gambling Authority Spelinspektionen (SGA) due to an alleged non-compliance related to an event offered to end users.
Zecure Gaming Limited has been given a warning and a penalty for displaying an U17 game between Georgia vs. Slovakia on 28 January 2019 on its Swedish site. This event was incorrectly offered online and no bets were taken from end users based in Sweden.
GiG intends to appeal the sanction. The Company does not agree with SGA's assessment and conclusion as the presentation of an event cannot be considered the same as accepting bets on U18 games for the purposes of both determining the infringement and the quantum.
GiG has taken the necessary measures to ensure that all games presented on the sites to end users in Sweden are in line with SGA's requirements and interpretation.
Sweden implemented gambling regulation from 1 January 2019, a development which GiG welcomes as the regulation promotes fair and safe play and offers a better protection for the end users. GiG has prioritised investments in building systems to adhere to the requirements of the Swedish gambling laws.
For further information, please contact:
Robin Reed, CEO of GIG, firstname.lastname@example.org
Anna-Lena Åström, GiG Head of IR & Corporate Communications, email@example.com
+356 796 998 48
About Gaming Innovation Group (GiG)
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is `To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. GiG operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
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