Compliance Updates – Page 6

Continent 8 Technologies Launches Regulatory Division C8 Comply with Appointment of Jeremie Kanter

October 7, 2023 Published by EuropeanGaming.eu

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Regulatory and compliance expert brings a wealth of experience to leading global technology solutions provider as Director of Regulatory Affairs

Continent 8 Technologies, an award-winning provider of managed hosting, connectivity, cloud and security solutions, welcomes one of the gaming sector’s most skilled regulatory and compliance specialists to its team.

Jeremie Kanter (pictured) has joined Continent 8 Technologies as Director of Regulatory Affairs and will oversee its new C8 Comply division. Jeremie will be responsible for leading Continent 8 Technologies’ new advisory practice, supporting customers as they navigate the continuously evolving global online sports betting and gambling regulatory landscape.

This appointment comes at an important time as Continent 8 Technologies continues its global expansion to new regulated markets across the globe, coupled with the launch of numerous new solutions including regulated cloud environments, critical cybersecurity solutions and more. Continent 8 Technologies will be able to leverage this unrivalled knowledge to strengthen its position as the go-to infrastructure provider of choice for operators and suppliers targeting regulated markets right around the globe.

Jeremie brings a wealth of experience to his role, having held senior management and consulting positions at some of the biggest companies in the industry including William Hill, PokerStars, SBTech, Playtech, Stations Casino and more.

“Jeremie is one of the most experienced and skilled regulatory and compliance specialists in the industry and this makes him an incredibly valuable asset to Continent 8 Technologies,” the founder and Chief Executive Officer for Continent 8 Technologies, Michael Tobin, said. “I’m very pleased to welcome him to our team.

“Regulation and compliance are the foundation of Continent 8 Technologies’ business and bringing Jeremie on board as we continue to grow aggressively across regulated markets will be fundamental to our success in these jurisdictions as well as those where we currently support our customers.”

“Continent 8 Technologies is one of the most established and reputable companies in the sector and has been supporting its customers in regulated markets for 25 years now,” Kanter said. “I know the team well and I am excited to be joining such a reputed company and looking forward to leveraging my industry experience and skillset to help Continent 8 Technologies achieve its ambitious goals.”

Spillemyndigheden: The Player ID’s Impact on Land-based Betting Operators and Their AML Obligations

October 4, 2023 Published by EuropeanGaming.eu

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On 1 October 2023, Spillemyndigheden made it a requirement for land-based operators to identify all customers before bets can be purchased, with customers also issued a Player ID to which their account is linked.

The regulator said the new rule “impacts the gambling operators’ business model” and has subsequently called on such companies to assess whether their risk of being misused for money laundering and terrorist financing has changed.

“As a rule, a risk assessment must be reassessed at least once a year or otherwise in connection with significant changes in the business model,” the regulator said.

“The introduction of the Player ID may therefore cause the gambling operators to update their risk assessment and, on that basis, update their policies, business procedures and controls.”

Gambling operators must also consider “which limiting measures must be implemented in order to limit the risk of, for example, misuse of the Player ID.”

LEC Introduces Sporting Financial Regulations

September 30, 2023 Published by EuropeanGaming.eu

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To support the long-term financial stability and competitive balance of the LEC, the league is going to introduce new financial regulations – known as Sporting Financial Regulations (SFR) – for the start of the 2024 LoL Esports Season.

The LEC SFR will encourage teams to maintain the total sum of its five highest-paid player salaries below a certain threshold, with teams exceeding the threshold having to pay an excess fee (SFR Fee).

In doing so, the LEC seeks to create a financially sustainable environment for its pro players, partnered teams, and the league itself, allowing all parties to grow at a healthy and scalable pace, and protect the ecosystem from unsustainable spending practices. In addition, the framework will support the league by creating a better competitive balance and more engaging competition, further enhancing the experience for players and fans.

“In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole. The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come,” said Maximilian Peter Schmidt, Director of League of Legends Esports EMEA.

SFR will encourage each team to maintain the total sum of salaries (known as SFR Spend) paid to the top five highest-paid players in a team within a certain range. The range includes both an upper spending threshold (SFR Threshold) and a lower spending threshold (SFR Floor), with the lower spending threshold amounting to 50% of the SFR Threshold. Meanwhile, the SFR Threshold is calculated based on a number of considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee.

An exception will be made to teams if a player enters into a contract with the team either during or before the end of the 2023 LEC Season Finals. In this instance, the SFR Spend will be reduced by one-fifth of the SFR Threshold or the actual salary amount; whichever is lower.

The policy will be introduced starting from the 2024 LEC Global Contract Start Date (21 November 2023), with the first cycle running until the 2024 LEC Global Contract End Date (18 November 2024).

Condor Gaming Group Secures Remote Bookmakers License from The Gambling Regulatory Authority of Ireland

September 22, 2023 Published by EuropeanGaming.eu

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Condor Gaming Group is thrilled to announce a significant milestone in its journey as a leading player in the iGaming industry. We are delighted to share the news that Condor Gaming Group has successfully secured a coveted Remote Bookmakers License from The Gambling Regulatory Authority of Ireland (THE GRAI), solidifying our commitment to providing exceptional gaming experiences in the Irish market.

This achievement marks a momentous occasion for Condor Gaming Group, as we expand our footprint and continue to deliver top-tier gaming services to our ever-growing customer base. The newly acquired Remote Bookmakers License from the GRAI underscores our dedication to regulatory compliance, fair play, and responsible gambling practices.

Condor Gaming Group’s CMO, Prash Patel expressed his enthusiasm, stating, “We are proud of this accomplishment and excited about the opportunities it opens up for us in the Irish market. This achievement reflects our unwavering commitment to growth whilst delivering the highest standards of gaming entertainment and ensuring the safety and well-being of our players.”

The Irish Remote Bookmakers License represents a significant addition to Condor Gaming Group’s portfolio of existing licenses, further reinforcing the company’s position as a trustworthy and reputable operator in the iGaming industry.

Key Highlights of Condor Gaming Group’s Remote Bookmakers License:

Regulatory Compliance: The license is a testament to Condor Gaming Group’s commitment to adhering to the strictest regulatory standards, ensuring a safe and secure gaming environment for Irish players.

Expansion: With this license, Condor Gaming Group is well-positioned to expand its presence in the Irish market and offer a comprehensive sports betting experience to Irish players.

Responsible Gaming: Condor Gaming Group is dedicated to promoting responsible gaming practices and will continue to implement measures to safeguard players’ well-being.

Innovation: The company will leverage its extensive expertise to provide cutting-edge sports betting services, combining innovation with a user-friendly experience.

Condor Gaming Group is excited to embark on this new chapter in its journey and looks forward to delivering an unparalleled sports betting experience to the Irish gaming community. Our team is committed to providing top-quality services while ensuring the highest standards of integrity and fairness.

You Win Some, You Lose Some; Lindar Media and the Gambling Commission Agree to a Regulatory Settlement

September 20, 2023 Published by EuropeanGaming.eu

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In September of 2022, the Gambling Commission conducted a compliance assessment and initiated a licence review into Lindar Media’s operations. After acknowledging the shortcomings and proactively presenting an action plan to the Commission, the operator has agreed to pay a regulatory settlement.

The Gambling Commission acknowledged Lindar Media’s transparency, cooperation and proactive approach to rectifying the failings; noting the shortcomings predate the many changes made to the safer gambling and anti-money laundering (AML) processes that have been introduced since the audit period. Lindar Media was also noted to be making significant efforts towards addressing some of the failings before the investigations were finalised. None of the failings showcased evidence of criminal spending within Lindar Media or that there was any financial upside for the business as a result.

The Chief Executive Officer for Lindar Media, Savvas Fellas, commented on the evolution of Lindar Media since 2022 by saying: “My focus since 2022 has been centred around maturing the day-to-day operations through the development of the senior leadership team. We’ve implemented scalable processes that provide consistency as we grow andbuilt technology-driven models that underpin compliance and safer gambling promises to our players; all of which are aligned with our mission of offering progressive, value entertainment with delight and transparency.”

Since 2018, MrQ.com has strived to push boundaries and redefine what it means to be a casino brand. Growing from a small team of professionals with ambitious visions, the brand has been working meticulously to keep up with the demands of the industry. The failings listed by the Gambling Commission took place during a period of exponential growth with the investigations being conducted prior to the organisation’s implementation of its core senior leadership team. Significant investments were allocated to AML and safer gambling to raise the standards of the policies and procedures that guarantee MrQ continues to be a reference of excellent practice within the industry.

Lindar Media shares the Commission’s commitment to improve compliance standards across the industry and continues to work proactively with the Gambling Commission to ensure these oversights are not repeated.

RiskCherry further solidifies global certification presence upon receiving UKGC approval

September 18, 2023 Published by EuropeanGaming.eu

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RiskCherry, a Malta-based independent test lab specialising in online casino games, has announced that it has been granted a UK licence by the UK Gambling Commission (UKGC).

This approval allows RiskCherry to inspect and certify video slots and associated gaming content for UK studios that have a licence, facilitating both established and emerging brands in the market.

The UKGC approval is a significant milestone in RiskCherry’s swift global expansion, following recent authorisations in the Spanish and Ontario markets, among others such as Malta, Gibraltar, Sweden, and Denmark. To date, RiskCherry has secured approvals in 12 major regulated markets worldwide.

Mihael Mladenov, COO of RiskCherry, said: “Our UKGC approval marks a pivotal moment for RiskCherry as we continually expand our footprint in critical regulated markets.

“By simplifying the certification process, we are uniquely positioned to help our clients scale their operations efficiently.”

RiskCherry’s streamlined certification process enables game studios to focus exclusively on content creation, alleviating the challenges and delays often associated with obtaining certifications. The company offers a seamless experience through its Client Portal, featuring high levels of automation and unique functionalities.

Accredited to industry standards including ISOs 9001:2015, 17020:2012, 17025:2017, and 27001:2013, RiskCherry is also actively pursuing additional ISO and local regulatory accreditations in the coming months.

RiskCherry has already entered into partnerships with multiple game studios, receiving high praise for its efficient, quality certification process. As part of its strategic focus, RiskCherry is targeting rapid expansion into the US, Canadian provinces, and LATAM markets, with the aim to become the world’s leading and most reliable iGaming independent test lab.

Air Dice Group Awarded B2B Greek License

September 16, 2023 Published by EuropeanGaming.eu

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Air Dice Group, a game developer for the iGaming industry specializing in strategy-influenced money games, has announced that it has been awarded with a B2B license from the Hellenic Gaming Commission.

“We are delighted as a company to have attained our Hellenic Gaming Commission B2B license,” the Partner and Chief Business Development Officer for Air Dice, Erkki Nikunen, said. “Our business continues to expand across multiple regulated jurisdictions and the Greek license is a further example of our teams’ commitment to regulatory compliance and the exemplary standards of our game technology and focus as a company. We look forward to having our games portfolio including Wandering Devourer, Neon Shifter and much more available within Greece as one of continental Europe’s largest regulated markets.”

Vixio announces the finalists for the 2023 Global Regulatory Awards

September 7, 2023 Published by EuropeanGaming.eu

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Now in its seventh year, the GRAs recognise and celebrate the achievements of individuals, teams and organisations across the gambling industry who have excelled in compliance, corporate social responsibility and safer gambling.

This year, the shortlist comprises 150 finalists from over 85 organisations across 21 categories, including Compliance Team of the Year, Outstanding Contribution to Sports Betting Integrity Award and the prestigious Compliance Lifetime Achievement Special Award.

“We received a record number of submissions, making this year’s awards the most competitive since inception. The quality of nominations demonstrates how the industry views the importance of compliance and the ongoing requirement to maintain compliance excellence,” stated Mike Woolfrey, CEO of Vixio. “Thank you to the judging panel for your hard work and rigorous and independent judging to ensure the awards are hotly contested. Those who made the shortlist should consider this a significant achievement.” Woolfrey further stated.

The 2023 Global Regulatory Awards presentation will take place on November 29th at the De Vere Grand Connaught Rooms in London. Due to the popularity of the awards, tables will sell out fast. Vixio advises booking now to ensure you don’t miss out.

St8.io Continues Expansion with Entry into Romania

September 6, 2023 Published by EuropeanGaming.eu

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St8.io, the casino games aggregation platform that empowers operators to integrate new games providers in a matter of days, has received a license from Romania’s National Gambling Office (ONJN).

The Class II license will allow St8.io to supply its platform to approved operators in the fast-growing market.

“Romania has been on our radar for some time and we’re really excited to get to work in the country,” the Chief Executive Officer for St8.io, Vladimir Negine, said. “We see significant growth potential but at the same time operators are telling us they need a content pipeline to deliver the truly exceptional experience players are demanding. We’re confident we can give our operator partners in Romania a competitive edge via deep integrations that provide the type of functionality not usually associated with an aggregator.”

St8.io will be supporting operators in Romania with a platform that makes integration look easy via a seamless API, removing manual work and replacing it with cutting-edge technology.

Created by a team boasting decades of experience across both B2C and B2B gaming, St8.io was built to give control back to casino managers. As well as the content, it comes packaged with a powerhouse back office, real-time data and instant support.

St8.io partners also gain access to all marketing and bonus tools provided by games studios, meaning your players don’t have to miss out.

St8.io has been rapidly onboarding content from many of the industry’s most exciting content studios in recent months including Slotmill, Peter & Sons and BGaming.

To find out more, please visit: https: //St8.io.

SOFTSWISS Receives GLI-19 and GLI-33 Certifications

August 26, 2023 Published by EuropeanGaming.eu

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Bolstering its commitment to innovation and excellence, SOFTSWISS, a cutting-edge software provider for the iGaming industry, obtains two certifications from Gaming Laboratories International (GLI). The SOFTSWISS Casino Platform clinches the GLI-19 certification for Interactive Gaming Systems, while the SOFTSWISS Sportsbook secures the GLI-33 certification for Event Wagering Systems.

Since its launch in 1989, Gaming Laboratories International, a leading gaming equipment testing company, has been setting vital technical standards for global gaming jurisdictions. GLI-19 and GLI-33 are paramount benchmarks for the technical regulation of iGaming markets. The requirements were developed by scrutinising and incorporating insights from guidelines, regulations, and policies provided by regulators and other industry stakeholders, such as the Nevada Gaming Commission and Gaming Control Board, the United Kingdom Gambling Commission, the British Columbia Gaming Policy and Enforcement Branch, and others.

GLI-19 and GLI-33 impose rigorous standards that iGaming companies must meet for security, fairness, and player protection. Their specifications cover all aspects of the gaming process, spanning game development to payout mechanisms. Attaining such prestigious certifications marks a huge advancement for SOFTSWISS in its journey to secure country licences, given that these standards cover a significant portion of most local software requirements.

Vitali Matsukevich, COO at SOFTSWISS, comments: “Achieving the highest standards of technical compliance set by GLI for both the SOFTSWISS Casino Platform and Sportsbook is a strategic leap forward for us. This accomplishment not only paves the way for us to enter new regulated markets but also reaffirms the exceptional quality of our software. I would like to thank all the teams involved for reaching another significant milestone for SOFTSWISS.”

At the upcoming SBC Summit Barcelona 2023 in September, SOFTSWISS will be showcasing the ecosystem of its innovative products at stand CG58. Attendees will have the opportunity to meet with SOFTSWISS representatives and gain valuable insights for their iGaming businesses.

About SOFTSWISS

SOFTSWISS is an international tech company supplying ISO 27001-certified software solutions for managing iGaming projects. The expert team, which counts more than 1,400 employees, is based in Malta, Poland, Georgia, and Belarus. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013 SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.

Tag: Compliance Updates

Continent 8 Technologies Launches Regulatory Division C8 Comply with Appointment of Jeremie Kanter

Spillemyndigheden: The Player ID’s Impact on Land-based Betting Operators and Their AML Obligations

LEC Introduces Sporting Financial Regulations

Condor Gaming Group Secures Remote Bookmakers License from The Gambling Regulatory Authority of Ireland

You Win Some, You Lose Some; Lindar Media and the Gambling Commission Agree to a Regulatory Settlement

RiskCherry further solidifies global certification presence upon receiving UKGC approval

Air Dice Group Awarded B2B Greek License

Vixio announces the finalists for the 2023 Global Regulatory Awards

St8.io Continues Expansion with Entry into Romania

SOFTSWISS Receives GLI-19 and GLI-33 Certifications

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