Yggdrasil, a leading platform and games developer, is set to make an entry into the heavily-regulated online casino market of the Czech Republic. It is set to supply contents to the Tipsport licensed operator.
At the moment, the company services around 1,000 retail points of the Tipsport bookmarker. It anticipates growing its online footprint after entering the online market of the Czech Republic.
After its grand entry into the market, the company expects to unleash its full array of online games. This development is anticipated to improve the fortunes of Tipsport online casino. It plans to use the BOOST promotional tool to achieve this noble objective. It also plans to drive engagements through the in-game tournaments, missions, and cash races, among other intervention measures.
While revealing these strategies, Fredrik Elmqvist, the Chief Executive Officer of Yggdrasil had the following to say:
“In February this year, we entered into an agreement to enter the Spanish market. This is one of the fastest-growing markets of the European Union. It is also one of its most exciting jurisdictions. This day, we are officially declaring our official partnership with the Czech Republic’s Tipsport leading brand.”
He further went to state: “As part and parcel of our overall strategy, we are devoted to the expansion of our regulated market footprint. In case we have a feeling that an environment suits the goals and aspirations of our promotional tools and leading games, we shall gladly enter it in partnership with other like-minded stakeholders. We are hereby pretty excited to be nurturing a long-term partnership with Tipsport from now henceforth.”
Jakob Lorentzon, the Head of Online Casino for Tipsport, had these to say: “We are greatly pleased to be entering an alliance with a very innovative and dynamic business entity of Yggdrasil’s caliber. The games it deals in perform very well, on average, in the heavily-regulated markets. We are subsequently looking forward to providing our expanding customer base those games and other products.”
He further went on to add: “We have had a very busy first half of the year. We have signed deals with Intralot, a global gaming operator as well as lottery solutions innovator. The content platform of the company has been certified to operate in Spain. The agreement allows the company to supply deals with other like-minded online operators like the 888 Holdings Plc, Global Gaming, Lottomatica, and Stanleybet, among others.”
The new gambling legislation which was approved by the Czech Republic in 2016 and which took effect from January 1st, 2017 is likely to impact the gambling business considerably. This new piece of legislation grants foreign-based operators the leeway to obtain gambling licenses in the republic for the first time.
Some tangible fruits have already started showing up in response to this move. For instance, the online regulated gambling market brought in some €1.58 billion in gross revenue in the trading period ended December 2017. In the same duration of time, the online market contributed a whopping €380 million to the Czech economy. It would be interesting to see how far these positive impacts are likely to last.