Legal & Regulatory News

Danish online gaming supplier Magnet Gaming has been awarded a licence by the UK Gambling Commission, giving the company access to UK-facing operators and their players for the first time.

Magnet has been granted a Remote Gambling Software Operating Licence by the regulator and claims to be “one of the few overseas suppliers which has the required licensing in place to comply with the Gambling (Licensing and Advertising) Act.”

The act was passed into law in October 2014, requiring that companies providing iGaming services to UK players secure a licence from the Gambling Commission.

The supplier’s head of game licensing Thomas Nielsen described the licence as strategically important for his company as it looks to move beyond its native market.

“The UK market is one of the biggest and longest-established anywhere in the world,” Nielsen said. “As a result, its regulatory standards are extremely high and we are very proud to have been trusted with a licence.

“We believe this will be a significant stepping stone for us as we’re confident our games will appeal to a new generation of British slots players and their excellent retention rates will have an impact on the revenue streams of UK-facing operators.”