SBC News Voice of the Sports Betting Industry
Gaming Innovation Group (GiG) has announced that the Rizk Casino brand has received approval to launch in Germany from the Federal Gambling Authority, Gluecksspiel (GGL).
This approval will see RIZK become the flagship casino property of Betsson AB, operating in Germany’s Fourth Interstate ‘GlüNeuRStv’ gambling marketplace.
Formerly a B2C brand of GiG, Rizk was acquired by Betsson in April 2020, following the divestment of its Zecure Gaming division. The deal was undertaken to refocus GiG on its B2B technology and media services.
GiG’s platform and systems continue to power RIZK, which, under Betsson management, has expanded into nine regulated markets across both Europe and Latin America.
“Our excellent relationship with Betsson and the continuing expansion of our original deal highlight the strength of our platform, technology, and managed services teams,” commented Marcel Elfersy, Chief Commercial Officer at GiG.
“We’ve positioned ourselves to be able to support our partners’ growth aspirations, understanding where those opportunities are and ensuring we not only meet but exceed their expectations.”
Rizk’s approval of a GlüNeuRStv licence will see Betsson take on the toughest European regulatory market for online casinos.
Since its inception in July 2021, GlüNeuRStv operators servicing casino games have been required to limit players to a €1,000 monthly deposit limit, a €1 stake limit on online casino slots, and a ban on all live gaming elements. Further hurdles include a 5.3% wagering tax that GlüNeuRStv has imposed on casino slots and game wagering.
Despite a challenging regulatory backdrop, Betsson maintains confidence that it can meet German market demands and that changes will provide a “secure footing for operators and providers to expand the German igaming market into the largest in Europe in the coming years.“
Andrew Valenzia, Commercial Director at Betsson, added, “This is a fantastic milestone for the Betsson Group, having such a legendary brand as RIZK return to the market. Our main focus is to provide our German customers with the best player experience in the industry, one that is safe and sustainable. The expansion into Germany reaffirms our excellent partnership with GiG, who continue to provide us with a service that exceeds our expectations.”
