Gaming Innovation Group comments on KSA decision
In November 2017, Innovation Labs Ltd. (trading as GiG Media, part of Gaming Innovation Group Inc.) received two orders subject to a penalty from the KSA for an alleged violation of the promotion prohibition of gambling in the Netherlands.
Since December 2017, Innovation Labs Ltd. has taken all steps necessary to remove all advertising and affiliate links on its website and to comply with the order of the KSA. In March 2018, the KSA confirmed that the website, as amended, does not violate the Dutch Gaming and Betting Act and also confirmed compliant status of the site. The same applies to all other affiliate sites owned and operated by GiG Media which fully comply with the requirements of the KSA.
The Netherlands adopted the remote gambling bill in February this year, a development which GiG welcomes. GiG intends to be present in the regulated Dutch market through its operating entities and in the interim continues to comply with the requirements known as the prioritisation criteria. The orders subject to a penalty accepted by Innovation Labs Ltd. do not qualify as a fine and does not impact GiG’s eligibility to apply for a future Dutch licence.
GiG announced in its Q4 2017 report, its decision to remove all advertisement from Dutch facing affiliate websites. This decision was also commented on in its 2018 quarterly reports.
For further information, please contact:
Head of IR & Corporate Communications
[email protected] +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 our ecosystem of products and services, we are connecting operators, suppliers and users, to create the best iGaming experiences in the world. GiG operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG. www.gig.com