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It is with great pleasure and pride that I am able today to congratulate the team of Flexi Group for their hard work, dedication, valuable time and effort put into acquiring a Class B license for online betting by the National Betting Authority for one of our clients.
This could not have been achieved without the vision and leadership of top management combined with the skill and expertise of all employees involved on this project.
Furthermore, it is important to convey our gratitude to the National Betting Authority (NBA) for their top-level professionalism and valuable assistance throughout this process. A very commendable Authority with high standards, transparency and proper understanding of the industry.
Online betting and online gaming as a whole is a rapidly expanding industry reporting huge growth figures (up to 10%) year by year. According to the European Gaming & Betting Association, “In 2018, the total EU-28 online gambling market generated €22.2bn in Gross Gaming Revenue, accounting for 49.2% of the total global online gambling market”. Not even Covid-19, which has been detrimental to traditional gambling, has been severely impactful on the online gambling industry.
Through the right regulations and proper mechanisms, which the National Betting Authority adheres to, online betting can be the right investment for investors with experience in the gambling industry. Now the NBA is in the process of innovating and providing even further licenses that could accommodate gaming software developers and gambling machine developers. Additionally, the law is expanding to include virtual and skill games as part of the offers of class B holders.
Flexi Group and its team is in the privileged position of having a multiyear and multinational expertise in the gaming industry. This fact along with its local success makes our group the right partner for any investor keen on operating a betting/gaming company in the EU and the Republic of Cyprus.
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