London-listed online gaming operator Gaming Realms said Monday that its wholly owned subsidiary Bear Group Ltd has been awarded Category 1 and Category 2 licences by the Alderney Gambling Control Commission (AGCC).

The licence will allow Gaming Realms to target jurisdictions outside of its core UK market, and look to leverage its technology and marketing capabilities to explore opportunities to expand into the B2B space.

The company’s chief executive Patrick Southon said that obtaining a licence from the AGCC was “an acknowledgement of the high standard of [his company’s] eGambling systems and processes.”

“It importantly also gives Gaming Realms the platform to target the UK market with a new range of excitingly innovative gambling products and expand into other regulated jurisdictions internationally,” Southon explained.

The company had explored the possibility of obtaining a licence in a number of jurisdictions including Gibraltar, before ultimately selecting Alderney. A company insider noted that Alderney provided a good solution for the operator’s needs.

In particular they highlighted the AGCC’s focus on player protection, and their working relationship with the UK Gambling Commission.

The Alderney licence is the first step in developing and expanding the company’s business, with a number of updates to its offering expected to be rolled out later in the year. It is also due to launch a proprietary gaming platform later in the year, onto which its B2C mobile offering PocketFruity will be integrated.

The company is also set to launch a further two new brands, Lucky Charm and Total Gold, which will combine real-money gameplay with social features.

Shares in Gaming Realms plc (Co.Data) (AIM:GMR) were trading down 0.66 per cent at 37.75 pence per share in London earlier this morning.

Related