Toronto-listed Global Daily Fantasy Sports (GDFS) has been granted approval to launch its daily fantasy sports (DFS) product with Italian platform provider Microgame.

The two companies had signed a two-year agreement in February for the roll out of GDFS' services across Microgame's network of licensed operators in Italy.

Following integration and testing work, GDFS has now obtained approval from gambling regulator Agenzia delle Dogane e dei Monopoli to go live in the Italian market. Microgame’s customers will join GDFS' existing network partners Lottomatica and Sisal.

"Strategically this is an important relationship for us," said GDFS chief executive Darcy Krogh. "Microgame is a top tier B2B provider in the Italian market and brings with it additional new partners to our Italian network.

"This will assist us greatly in growing the network. In addition, the Microgame team has vast experience marketing in a networked environment which will benefit all our network partners."

Microgame general manager Marco Castaldo added: "We are really excited to make DFS available to the operators in our network. With our market-leading liquidity, we intend to work with our customers and with our partners to deliver the tremendous potential of this game for Italian players."

Shares in Global Daily Fantasy Sports Inc (TSX:GDFS) closed up 3.03 per cent at CAD$0.17 per share in Toronto Thursday.