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The company has completed its integration and testing work with Microgame and has received final certification from the Italian gaming authority, Agenzia delle Dogane e dei Monopoli.
Global Daily Fantasy Sports (TSXV:DFS) on Monday (June 18) announced its entry into the Italian market through Microgame.
The company, which is a business-to-business (B2B) daily fantasy sports software provider, said in the release it has completed its integration and testing work with Microgame and has received final certification from the Italian gaming authority, Agenzia delle Dogane e dei Monopoli (ADM) to officially launch onto the existing Italian network.
The approval of Microgame commences Global’s two year exclusive agreement that was initially announced in early February.
“Strategically this is an important relationship for us. 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,” Darcy Krogh, CEO of Global Daily Fantasy Sports said in the announcement. “In addition the Microgame team has vast experience marketing in a networked environment which will benefit all our network partners.”
With the approval from ADM, Microgame is in a position to deliver Global’s Daily Fantasy Sports product to all of its ADM licensed operators in Italy.
Microgame, established in 1999, is a gaming service provider in Italy and serves more than 30 ADM-licensed operators and over 700,000 registered players, generating over €2.5 billion euro.
“We are really excited to make DFS available to the operators in our network,” Marco Castaldo, general manager of Microgame said. “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.”
The company in the release said that Microgame joins Global’s previously announced network partners in time for the 2018 FIFA world cup in Russia as the company steps up its European presence for the most widely viewed and followed sporting event in the world.
In May, Global Daily Fantasy Sports announced the signing of three year agreement with Sportingtech to be its exclusive provider of the company’s products and platform to Sportingtech’s group of clients. Sportingtech is based in Portugal and Malta with regional offices in UK and Uruguay.
Following Monday’s announcement, shares of Global Daily Fantasy Sports were down 2.78 percent over the one day trading period and closed the trading session on Monday at C$0.175. The stock has a strong sell ranking on TradingView with 16 verticals against the stock and 10 in neutral.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.