Stakelogic, SoftSwiss Add New Ground in Greece After Hellenic Gaming Approval

Posted on: December 24, 2021, 09:24h. 

Last updated on: December 29, 2021, 09:53h.

Erik Gibbs Read More
Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

Stakelogic and SoftSwiss are adding Greece to their list of recent accomplishments. The online gaming companies have been approved by the Hellenic Gaming Commission (HGC) to enter the Greek iGaming market.

Greece
The Acropolis and other sites in Greece provide a backdrop for a blooming gaming industry. iGaming, in particular, is gaining ground, with several new additions recently. (Image: iGaming Business)

Stakelogic has been busy this month. It recently gained access to Betsson’s Italian gaming market, as well as the Danish market through a deal with Danske Spil. Both were completed in the past couple of weeks. The company added Greece a few days ago, enabling it to offer its entire suite of games to the market.

In addition to being licensed by several regulators, including the Malta Gaming Authority and the UK Gambling Commission, Stakelogic is rapidly expanding across Europe. With the inclusion of Greece, the company is now licensed in five gaming jurisdictions.

Stakelogic is behind games such as Mystery Drop and Extreme Megaways. The company’s titles are popular for the common bonuses they offer.

SoftSwiss, Yggdrasil Join Greece, As Well

SoftSwiss expanded its presence in Greece’s iGaming market after it was granted a Manufacturer Suitability license from the HGC. The approval allows the Curacao-headquartered game aggregator to offer its B2B gambling content to Greek operators for seven years.

For its first partner project, the firm acquired a Greek B2C gambling license earlier in the year.

Following a major distribution agreement with Kaizen Group, which extends to other markets around Europe, Kaizen Group has increased its presence in Greece as well. The partnership will see Yggdrasil’s entire portfolio of games deployed, as well as content by third-party studios through the successful YG Masters program. The content will be offered through Kaizen’s Stoiximan brand.

Yggdrasil’s content will also soon be available in other key regulated markets, such as the Czech Republic, Germany, and Romania. Those will be offered through the Betano brand.

Greece Becoming Major iGaming Hub

In 2002, online gaming was banned in Greece. It stayed that way until the country had a change of heart nine years later. Some temporary licenses were issued in 2011, but no real progress was seen for 10 years.

This year has brought the majority of the market’s growth. After announcing new licenses would be issued last year, the HGC issued 15 licenses this past summer.

Although more licensed operators and suppliers will be added, Greece is taking a strict approach to iGaming. Like other countries, it has implemented limits, such as a €2 (US$2.26) maximum bet, a 3-second minimum spin time, and a €50,000 (US$56,555) jackpot limit.

Becoming a Greek operator isn’t cheap. The license can run as much as €3 million (US$3.4 million). Plus other costs and taxes are as much as 35%. However, the money is rolling in. The HGC reported that online gambling gross gaming revenue hit €540 million (US$610 million) last year, up from €437 million (US$494.3 million) a year earlier.