In keeping with its strategy to obtain certifications in regulated markets worldwide, UK-based independent software company 1X2 Network has been awarded a license by the Hellenic Gaming Commission (HGC) that will allow operators in Greece to access its full games portfolio from its Iron Dog Studios and 1X2gaming subsidiaries.
Receipt of the A2 Greece license means that for the very first time players in the southeastern European country will be able to enjoy titles from the two brands including Battle Maidens Cleopatra, Smoking Hot Fruits, Megaways Jack, 1 Million Megaways BC, and the recently launched Rock the Reels Megaways hit.
Branded Megaways:
The newly secured license also enables the award-winning casino content provider and aggregator to provide operators in Greece with access to its Branded Megaways innovation, which was voted Game of the Year at the 2020 EGR awards.
Launched by Iron Dog Studios in July 2020, Branded Megaways is a customizable slot, which is powered by the popular?Megaways game engine licensed from Australian online casino games developer Big Time Gaming (BTG),?that allows operators to bring their own Megaways powered slots based on their company brands to market quickly and cost-effectively. The concept has proven wildly popular, and to date, over 60 Branded Megaways slots have gone live, with more operators expected to develop their own in the near future.
Commenting on the company’s debut in the newly re-regulated Greek online gambling market, Chief Commercial Officer for 1X2 Network, Kevin Reid said via company press release…
….they are “honored” to have been awarded a license by the HGC, which enables them to offer operators in the recently reorganized Greek market their full suite of games from their two brands.
The COO went on to explain that expansion into Greece is part of their “wider plans” to obtain certification in other regulated iGaming markets around the globe and bring their award-winning content to an even greater number of operators and players.
Declaring that they are “really on a role” with their latest titles, having become player favorites, Reid added that they are also excited to be able to bring the Branded Megaways concept to Greece’s regulated market, having “taken the sector by storm,” and they are looking forward to collaborating with more operators “to develop their own unique Megaways titles.”
1X2 Network, which is the corporate name for the 1X2gaming group of companies, has been around since 2002 and since then the UK-based independent software company’s titles have gone live with over 300 casino brands in other regulated markets globally courtesy of certifications obtained in key jurisdictions including Italy, Colombia, Spain, Sweden, Gibraltar, Malta, Isle of Man and the UK.
Greece re-regulates:
On July 5, 2021, the HGC announced it had issued 15 online gambling licenses. They were the first permanent licenses issued since all forms of online gambling were banned by Greek authorities in 2002. Two types of licenses are offered by the commission; one for online betting and the other for all other iGaming activities.
In October 2020, the HGC opened the application process for?Greece’s new online gaming licenses after the authorities passed new regulations the year prior. Priced at…
…€3m (￡2.5m/$3.4m) for sports betting and €2m for games, the licenses run for an initial period of seven years while license holders are required t0 pay a gross gaming revenue tax rate of 35 percent.
After?the bill passed in October 2019, the 24 operators granted temporary licenses in 2011 were permitted to continue their operations until March 31, 2020, at which time they were required to reapply. Among the regulations, players must be 21 and older while conditions for?online casino?include a max €2 slot stake, with prizes capped at €5,000, and a jackpot games limit of €50,000.
While originally announced in 2019, the system debut was postponed multiple times, with the most recent launch expected in February 2021.