Mediterranean Europe
Gaming Innovation Group celebrates grand opening of new Headquarters in St. Julian’s Malta
Malta’s Prime Minister Joseph Muscat inaugurated Gaming Innovation Group’s (GiG) new headquarters in the country. He and the many guests followed pledged full support to GiG’s CEO Robin Reed during the grand opening ceremony.
GiG hosted a number of further government officials and iGaming industry guests at @GiGBEACH, a state-of-the-art workspace overlooking St. George’s Bay.
Guests were offered a guided tour of the building and its exciting features extending over six floors. The following are the main characteristics of this ultra-modern work environment:
-A top-of-the-range commercial kitchen to provide healthy, well-balanced meals (breakfast and lunch) – free of charge for all employees. Where possible, food products are organic and sourced locally.
-Gym offering state of the art cardio and muscle equipment promoting fitness and wellbeing among employees.
-Two purpose-built slides in the building to echo the company’s sense of playfulness.
-30% of workstations allow employees to choose to stand at their desk, which can help to reduce back pain and can burn an extra 50 calories per hour.
-35% of the building used for staff leisure activities, such as the gym, dining area, the Skynet, ice-cream corner, balconies for gatherings and informal meetings.
-Fully equipped auditorium for 30+ people – ideal for presentations, training, and seminars
-In-house Barista on the ground floor, making artisan coffees.
-Free parking available for all employees at local car-parks to ease street parking pressure in the surrounding area.
-Highly secure/access control building, with biometric access.
At the event GiG CEO, Robin Reed, also revealed GiG’s plans to create their next inspirational work environment in Malta. This future move will create an additional workspace at near-by office premises in the St Julian’s Pendergardens development to accommodate the company’s planned growth.
Commenting on the extraordinary continuous growth for GiG – not least the iGaming hub Malta has contributed to – Reed said: “Our journey in Malta does not end here at GiG Beach. I am delighted to let you know that we have plans to open another four floors of offices in Pendergardens in 2019, creating an additional innovative workspace for the rest of our employees who are based in Malta.”
He added: “Malta has been good to us. Since the establishment of GiG in 2012, the company has grown to more than 650 people, reaching millions of end users and empowering dozens of companies with our products and services. GIG recently posted its 13th consecutive financial quarter with all time high revenues as our 4000 shareholders saw the market cap exceed 500 million EUR. An extraordinary growth having accelerated and benefited suppliers as much as people in both the industry and our community. ”
Compliance Updates
Cyprus National Betting Authority Launches National Self-Exclusion Platform
The Cyprus National Betting Authority during a press conference on February 20, 2024, announced the launch of the National Self-Exclusion Platform (NSEP). This strategic initiative is part of the Authority’s commitment of safeguarding players and the public, as outlined in its Safer Gambling Strategy 2022-25.
The NSEP facilitates players to control their betting activities and opt for self-exclusion, either temporarily or indefinitely, from all online bookmakers who are licensed in the Republic of Cyprus. The player acknowledges that their betting activity has brought gambling related harm on their life, hence, they may use the self-exclusion tool for a more effective control of their betting activity. During the self-exclusion period, the player has access to their current account only for the purpose of withdrawing their deposits and cannot create a new account in a licenced bookmaker’s website.
Registration on the platform is free, simple and straightforward, enabling the player to set their self-exclusion across all betting service providers by registering at https://www.exclusion.cy/. Specifically, players have the flexibility to choose between temporary self-exclusion, long period self-exclusion or for an indefinite time.
During the press conference, Ms. Ioanna Fiakkou, President of the NBA, expressed her satisfaction with the platform’s launch, underscoring its significance as “a robust tool for every player, designed to promote safer betting behaviour and safeguarding vulnerable groups of people.”
“The development of the National Self-Exclusion Platform underscores the NBA’s dedication to player protection and the establishment of a sustainable and fair betting sector. The platform at this point offers self-exclusion from online betting service providers, but its operation is dynamic and poised to integrate additional functionalities. Thus, we extend a public invitation to all stakeholders to join our efforts for safeguarding society and include specific groups such as athletes in the platform’s operations, in collaboration with relevant federations and governmental bodies, to join the platform. Through this collaborative effort, we aim to fortify the fight against match-fixing and enhance transparency in sports, aligning with key objectives outlined in the Authority’s strategic framework. We are particularly satisfied to witness the realization of another significant milestone, as we advance towards achieving the goals set forth in the Safer Gambling Strategy, reinforcing protective measures for the public and fostering the industry’s sustainability in the right direction,” Ms. Fiakkou said.
Latest News
Cyprus: National Betting Authority Reveals Strong Growth in Q3 2023
The National Betting Authority has released the financial outcomes for the third quarter of 2023, showcasing a continual surge in the revenue of the betting sector, underscoring its robust and consistent growth.
As per the disclosed financial results, the gross betting revenue for both Class A (land-based betting) and Class B (online betting) recipients reached €259,440,696. This signifies a noteworthy 9% surge in comparison to the third quarter of 2022 (€238,175,857) and an even more substantial 35% increase in contrast to the third quarter of 2021 (€192,087,098).
Breaking down the figures, Class A recipients contributed €70,941,349, while Class B recipients accounted for €188,499,347 of the total gross revenue. Class A recipients observed an 8% increase in gross revenue compared to the same period in 2022 and a substantial 21% surge in comparison to the third quarter of 2021. Meanwhile, Class B recipients experienced a 9% rise compared to the corresponding quarter of 2022 and an impressive 41% increase compared to the third quarter of 2021.
Profits for both Class A and B players continued their upward trajectory, reaching €232,011,110. This represents an 11% uptick compared to the same period in 2022 and a notable 38% increase from the third quarter of 2021. Notably, the lion’s share of profits, specifically €172,726,941, belonged to Class B players during this quarter.
However, Class A and B betting earnings totaled €27,429,585, reflecting an 8% decrease compared to the corresponding quarter of the previous year (€29,705,139). Specifically, Class A betting receipts amounted to €11,657,180, marking a 14% decrease compared to the third quarter of 2022, while Class B betting receipts totaled €15,772,406, presenting a 2% decrease compared to the same period.
Examining the landscape of Class A properties, their number decreased by 2% in the third quarter of 2023 compared to the corresponding period of the previous year. The licensed properties, predominantly concentrated in Nicosia (169), Limassol (140), Larnaca (88), Paphos (54), and Famagusta (39), amounted to a total of 490 Cypriots.
Despite the positive financial indicators, there was a 44% increase in license cancellations or application withdrawals compared to the corresponding quarter of 2022. The number of individuals employed in licensed premises reached 1472, showcasing a 3% increase compared to the same period in 2022.
Addressing the issue of illegal betting, the report highlighted a 2% increase in blocked websites compared to the second quarter of 2023, with a total of 339 illegal websites added to the list. The current roster of prohibited betting service websites now stands at 18,577.
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THE IBIZA CASINO WELCOMES MIGHTY HAMMER, THE NEW GAMING SENSATION ON THE ISLAND
The Ibiza Casino has added the thrilling multi-game by Zitro, Mighty Hammer, to its entertainment offerings. This innovative title, renowned for its global success, provides players with three levels of excitement and multiple possibilities, each connected to a different bonus link.
The management of the Ibiza Casino expressed, “The inclusion of Mighty Hammer in our gaming hall has generated great satisfaction among players, who enjoy this game due to its impeccable graphics and innovative mechanics.”
Jaime Aníbal-Álvarez, Director of Casinos in Spain for Zitro, has expressed gratitude to the Ibiza Casino for the opportunity to collaborate and bring Zitro’s products to their gaming hall. “With the inclusion of Mighty Hammer, we have no doubt that players will surrender to its highly entertaining gaming experience, featuring a dynamic gameplay.”
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