Gegidze, a leading business consulting and acceleration firm, has launched Georgia’s first-ever gaming license solution, establishing the country as a promising new destination for global iGaming operators. This innovative service introduces an attractive 5 percent tax rate on Gross Gaming Revenue (GGR), setting a new standard for the industry.
As the sole provider of this license in Georgia, Gegidze ensures a smooth, fully supported onboarding process, offering comprehensive assistance to businesses entering the market. This groundbreaking solution challenges traditional iGaming hubs and establishes Georgia as a key player in gaming innovation.
With the iGaming sector facing rising regulatory pressures and increasing costs in established markets, Gegidze’s solution takes advantage of Georgia’s business-friendly environment and progressive, digital-first regulatory framework. Located at the crossroads of Europe and Asia, and benefiting from pro-business policies, Georgia is positioning itself as the “Switzerland of the Caucasus,” a rising force in the global gaming industry.
Valerian Gegidze, CEO of Gegidze, said: “Our goal is to empower entrepreneurs and leaders to grow their businesses and cut costs, building long-lasting partnerships based on trust. We believe that Georgia will become a new home for global gaming and progressive companies, benefiting from the tax incentives and resources needed to streamline operations and cut costs by up to 70 percent compared to other licensing jurisdictions.”
Key features of Gegidze’s gaming license solution include:
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A comprehensive iGaming license covering online casino, sports betting, and poker
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An unparalleled 5 percent tax rate on GGR, significantly lower than other jurisdictions
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Rapid license acquisition process, with approvals possible within 30 days
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Flexible payment solutions supporting both fiat and cryptocurrency transactions
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Full spectrum of business support services, including company formation, banking, HR, infrastructure, legal, and technical setup.
Gegidze’s offering addresses critical pain points in the industry, such as high operational costs, regulatory complexities, and barriers to market entry, and with its solution in such an advantageous market, the company will enable both established players and innovative startups to focus on core business activities and market expansion.
Giorgi Tsamalaidze CLO at Random Systems Georgia, Georgia’s National iGaming regulator, said: “Georgia’s emergence as a premier iGaming hub is a testament to our commitment to fostering innovation and economic growth. Introducing opportunities to attract top tier international operators and expand the reach of our permit holders are the primary goals for us.”
The launch of this solution comes at a pivotal time for the iGaming industry, which has been forecast to reach $133.59 billion by 2029 (Statista Global online gambling industry market size 2017-2029, 01.11.2024). Gegidze’s approach is aiming to capture a significant share of this burgeoning market, offering a compelling value proposition for businesses looking to optimise their operations and accelerate growth.
Vakho Tchitava, CEO at Bitanica.com & Fastoo.com commented: “Through our work with Gegidze, it is exciting to help Georgia pave the way for a dynamic iGaming landscape, creating fertile ground for international growth and innovation while providing robust support for our local operators. I look forward to continuing this partnership and driving further growth opportunities for our partners and especially for the people here at home.”
Gegidze’s iGaming service leverages its near-shoring expertise, having supported 200+ companies in the US, UK, Europe, and the Middle East to set up cost-effective business hubs across Georgia, Armenia, Azerbaijan, Turkey, Egypt, Kazakhstan, and Uzbekistan. This currently provides access to skilled professionals in HR, development, crypto, web, and graphic design.
