Cherry AB (publ) (CHERb.ST) subsidiary Yggdrasil Gaming has agreed a deal with existing partner GVC Holdings PLC (LSE:GVC) that will see it enter the Spanish igaming market later this year. Already well represented in the country including its leading bwin brand, the multinational sports betting and gaming group will be the very first operator to offer Yggdrasil titles in the market, according to the press release.
GVC, which has a strong presence in Spain including its leading bwin brand that it launched in Russia in November last year, will be the first operator to offer Yggdrasil titles in the market. It is expected that Yggdrasil will be live in the market during Q2 2018, fully compliant with Spanish requirements.
In 2015, the Spanish online gaming market added slots to its offering and recently has enjoyed impressive growth. For Q3 2017, online gaming revenues saw a 37 percent spike to EUR 140.5 million, according to regulator Dirección General de Ordenación del Juego (DGOJ).
Fredrik Elmqvist, CEO for Yggdrasil, said: “Spain has quickly emerged as one of Europe’s fastest-growing and exciting jurisdictions, making it a perfect environment for Yggdrasil’s award-winning slots and promotional tools. To enter Spain with GVC, a long-time partner across multiple jurisdictions, will ensure our games are enjoyed by slots fans across the country. Following recent entries into Denmark and Italy, it also underlines Yggdrasil’s commitment to expanding its footprint in Europe’s regulated markets.”
Also commenting on the move, Head of Content and Commercial for GVC, Andy Whitworth, said: “Our aim is to offer content from our best suppliers in all of our markets. Yggdrasil’s slots have already proved to be hugely popular with our players elsewhere, so we are delighted to be the first operator to bring that award-winning content to Spain. ¡Vamos a jugar!”.
Yggdrasil’s move into Spain is the latest example of its regulated strategy, which during Q2 2017 saw it enter Italy and earlier this year, Denmark.
Last month, online casino games developer announced that it would be entering the table games vertical with the launch of what its very first blackjack title, and the first in a collection of table game products.