Gamingtec has secured a Gaming-Related Vendor licence from the General Commercial Gaming Regulatory Authority (GCGRA) in the United Arab Emirates (UAE).
The United Kingdom-headquartered company can now offer its iGaming platform and associated products to licensed operators in the UAE.
The firm has relationships with some of the operators featured on comparison platform haztayeb1-uae.com/en/, so is already familiar with the local market.
UAE Moves from Regulation to Real Commercial Activity
The Gamingtec license comes at a crucial juncture for the UAE’s commercial gaming industry.
The GCGRA’s public directory has more than 20 Gaming-Related vendor licences, as the technology and services infrastructure develops alongside the licensed operator market.
It is three years since the regulator was established, but the UAE has already graduated from building the legal framework to licensing operators, suppliers and online gaming products.
The UAE established order first, making operators more accountable, while leaving room for tech companies to showcase the infrastructure, controls and reliability that regulators demand.
Compliance is Central to Market Entry
The UAE’s model means that having a casino or sportsbook product ready to launch is not enough.
Operators need technology to meet regulatory requirements, and suppliers must understand the controls required in a newly regulated environment. The GCGRA introduced anti-money-laundering measures for the gaming sector as part of its framework last year.
Those requirements show the importance of customer due diligence, transaction monitoring and suspicious activity monitoring as part of the operation.
The ability to comply and adapt to changes is essential for technology companies. Having a diverse range of exciting casino games and betting market is not be enough for this new-age regulatory system in which oversight is embedded into the commercial model.
This is where Gamingtec’s latest approval could become extremely valuable.
A Decade of Platform Experience
Gamingtec was founded in London in 2013 to develop flexible and scalable technologies for the iGaming industry.
They have since grown from a platform development business into a B2B tech provider that combines platform infrastructure with product development and operational expertise.
Gamingtec has over 400 professionals with more than 13 years of experience. They have an in-house sportsbook, affiliate management tools, payment infrastructure and other components.
The company has expanded into other several other lucrative gaming markets, including Mexico, Brazil, Colombia and Argentina.
That kind of reach will look especially attractive to the UAE as operators need tech partners that can adapt on the fly to local requirements.
Turnkey Technology Could Be Key in the UAE
Gamingtec’s modular Turnkey platform features several components under a single tech umbrella.
The platform includes player account management, casino, sportsbook, affiliate tool, back-office functionality and third-party integrations.
This approach is crucial in developing markets such as the UAE. Operators may not all have the same commercial gaming strategies, and the market will evolve as more businesses enter the sector.
Having a flexible platform that allows operators to introduce products they need while adapting their operations to regulatory changes is important.
Gamingtec aims to help operators launch faster while avoiding technical limitations and vendor issues. They can now propose that objective to businesses seeking access to the UAE’s regulated market.
The new licence gives Gamingtec access to one of the most highly coordinated regulatory environments.
They can potentially position themselves at the front line in a market that could become a major player in the global gaming industry over the next few years.
