Playgon Receives Type One Malta Gaming Authority License
Playgon Games Inc. (TSXV: DEAL) (OTCQB: PLGNF) ( Frankfurt : 7CR) andor its subsidiaries (“Playgon” or the “Company”), a technology company focused on delivering mobile live dealer solutions to online gaming operators, is pleased to announce that it has received approval from the Malta Gaming Authority (“MGA”) for its Type 1 Gaming Service License. This marks a significant milestone for the Company as it is now able to begin generating revenue through previously announced agreements with Malta licensed entities.
The MGA is a gambling regulatory authority that provides top-tier, globally recognized, gaming licenses through a stringent review process. With the MGA license, Playgon will receive additional credibility as a trusted betting technology supplier in Europe and other regulated markets globally.
Playgon will now officially launch its Live Dealer technology solutions throughout Europe and other regulated markets. Playgon’s core live dealer games include Baccarat, Roulette, Blackjack and the Company’s proprietary game Tiger Baccarat™. The Company’s previously announced agreement with SWINTT Malta Ltd., (see NR 12/17/2020) one of the fastest growing content suppliers in the iGaming industry, can now begin to offer Playgon’s technology to their roster of online gaming operators.
“With our additional Type 1 license secured from the MGA, we are cleared to go live and begin generating revenue,” said Darcy Krogh , CEO of Playgon Games. “We have already secured several commitments from both operators and aggregators that see the tremendous value in our technology and have patiently been waiting for us to get our Type 1 license. We anticipate going live in the coming days with some of these groups allowing access to what we believe is the most innovative and exciting mobile live dealer technology available in the market.”
Mr. Krogh added, “As we continue to market our technology to operators, we are seeing overwhelming demand and excitement that confirms our product is one of the most unique solutions to hit the market in years.”
The global online gambling market is projected to grow 58% by 2023 to over $92B . 1 In the United States forecasts of growth of online Sportsbetting and iGaming market is anticipated to reach between $10.9B to $12.9B by 2025. 2 The fastest growing segment within the regulated online casino market is live dealer technology and is anticipated to grow 60% to $8B by 2023.