Gaming Innovation Group Begins Trading On Nasdaq Stockholm To Increase Visibility

Malta-based company, Gaming Innovation Group (GiG), has announced that they have begun trading shares on the Nasdaq Stockholm exchange on Tuesday, March 26th. The operator will trade under the ‘GIGSEK’ ticker code, with its dual-listing symbol on Oslo Bors in Norway to remain, ‘GIG.’ These plans were set earlier this month and have now come to fruition.

Stockholm As The Center Of iGaming Excellence

Robin Reed, GiG’s CEO sees this as an opportunity to increase the brand’s visibility on the market. Moreover, it should put the company closer to its peer group.

“We have many shareholders in Sweden and look forward to welcoming existing and new shareholders to us on Nasdaq Stockholm.”

GiG already secured two gaming licenses for the newly regulated Swedish market. One covers in-house brands such as Rizk, Guts, Highroller, Thrills, Kaboo and Betspin. The other applies to white label customers.

As for Sweden, the market was officially regulated at the beginning of the year. The regulatory body, rebranded as Spelinspektionen approved online gaming in Sweden. Though the rules are strict and point out the importance of legality, safety, and reliability of the market…

…still plenty of operators received a license to distribute their content in Sweden.

In addition to this, there will be neither temporary licenses nor a trial period. This means that operators will have to wait for definite approval. To minimize the chance of being rejected, they will have to fulfill all the conditions and act in accordance with the law.

ABG To Operate With GiG’s Shares

The growing provider also inked an agreement with financial advisor, ABG Sundal Collier ASA. ABG will provide their shares on Nasdaq Stockholm with a maximum spread of 4% between the bid and the offer price. The calculations will be based on bid quotation, with…

…Swedish kronor (SEK) as the official trading currency.

On each trading day, ABG will submit bids and offers in GiG shares for a minimum of 85% of trading hours, inclusive of the auction procedures applicable to shares.

GiG Expands Its Presence In Multiple Ways

This move is just one in the line of many decisions with the potential to further the company’s financial stability made recently. The first one was the deal with Betting Startup. Though this is a project in its developing phase…

… it bears a lot of promises, which will be made apparent when the whole thing officially goes live. For the time being, it doesn’t have a significant impact on GiG’s revenue, but the firm seems to be on a good path in that regard already.

The last one in the line of successful partnerships was iSoftBet, which also includes GAP platform. Consumers will also benefit from this deal, as the united platform will feature over 3,000 titles.

Source:

“GiG beging trading on Nasdaq Stockholm”, igamingbusiness.com, March 26, 2019.