The payment operator and prepaid card issuer is also licensed by the United Kingdom’s financial watchdog; the Financial Conduct Authority. This means that PFS will continue to operate as usual throughout the European Economic Area post-Brexit, the company says.

“The future looks even brighter now for PFS with this announcement. It ensures that no matter what happens with regards to Brexit, our business is prepared for all scenarios and there will be no impact to our customers and partners. We look forward to enjoying an excellent working relationship with the Central Bank of Ireland in the years to come,” says Noel Moran, CEO at PFS.

The company operates from the Innovation Hub in Ireland and its Technology Centre in Malta.

The post Irish fintech PFS bags local licence prepping for Brexit first appeared on The Malta Business Weekly.

“We are now taking the next step on our global expansion journey and apply for our first license in a Spanish-speaking country, Spain,” says Gustaf Hagman, CEO of LeoVegas Group.

Mr Hagman tags Spain as one of the fastest-growing markets in Europe. The CEO believes that due to his group’s technology and experience; they will be able to effectively adapt their business to regulated markets regardless of language and regulations.

As more than 470 million people speak Spanish, the company sees entering Spain as a first step to get into several Spanish-speaking countries, the press release notes.

The Spanish casino market grew by more than 30% in Q3 2018 compared to 2017, and it is projected to be worth approximately €1bn in 2019, according to estimates provided by H2 Gambling Capital data, which is one of the gambling industry’s leading providers of figures and analyses. The Swedish market, in comparison, is worth approximately €1.4bn.

“Today only about 11% of all gaming in Spain is conducted online, compared with 52% in Sweden. Spain’s online gaming market is experiencing strong growth as more and more gaming is being conducted online. The most recent figures from the Spanish gambling authority show that the casino segment grew by 30% in Q3 2018 compared with the same period last year,” LeoVegas notes in the press release.

LeoVegas holds gaming licences in Malta, the United Kingdom, Denmark, Italy, Sweden, Ireland and now awaits for Spain.

LeoVegas’s announcement comes very shortly after a cut in gross gaming revenue from 25% to 20% has been approved by the Spanish government. LeoVegas appears to pop up as a fierce competitor of GiG in the market with a jumpstart, which announced similar plans very recently for the second half of the year.

The post LeoVegas to enter Spanish market in Q1 first appeared on The Malta Business Weekly.