Month: August 2021

GambleAware and Citizens Advice to tackle gambling harm

first_img The £1.5m initiative will focus on nine regions across England and Wales Regions: UK & Ireland GambleAware and Citizens Advice to tackle gambling harm GambleAware and Citizens Advice have committed £1.5m (€1.7m/$2m) to a joint initiative focused on educating debt advisers in the UK about gambling-related harm. The two-year project will be delivered across nine regions in England and Wales, with the aim of training debt advisers to identify and offer support to people who may be suffering gambling problems. GambleAware hopes to establish a network of regional support hubs as part of the initiative, with each facility able deliver training to “front-line” staff that are in other lines of work so that they can also recognise problem gambling. The partnership with Citizens Advices marks the latest step in GambleAware’s ongoing effort to tackle problem gambling, after the charity last month threw its support behind new Gambling Commission-backed research into the issue. GambleAware’s efforts are being recognised and it is gaining a greater presence in the UK, boosted by a spike in voluntary industry donations over the past year. Dr Jane Rigbye, director of education at GambleAware, said: “The debt advice workforce has an enormous role to play in supporting and reducing the likelihood of people experiencing gambling-related harm, as do many professions who come into contact with the general public on a daily basis. “Encouraging and enabling staff in all public-facing settings to be aware of the possibility that the presenting problems could be related to gambling is key in helping to tackle this issue.” Gillian Guy, chief executive of Citizens Advice, also spoke positively about the new initiative, saying its staff will be able to make a “real difference” to people struggling with gambling. Guy added: “Gambling can have life-changing effects, not just on the individual but also their families and friends. People seek our help to deal with the practical problems that come out of this – including increased debt and relationship breakdown.” The partnership comes following a six-year trial that GambleAware successfully ran with the Newport Citizens Advice regional office. Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games People Sports betting Strategy Bingo Poker Slots Tags: Card Rooms and Poker Mobile Online Gambling OTB and Betting Shops Slot Machines 24th September 2018 | By contenteditor Email Address Subscribe to the iGaming newsletterlast_img read more

iGB Diary: Brexit, exit, axit, clerics, taxit

first_img Topics: iGB Diary Subscribe to the iGaming newsletter 14th December 2018 | By Hannah Gannage-Stewart iGB Diary: Brexit, exit, axit, clerics, taxit We talk Brexit shambles, Rich Alati’s bet, the ad ban, devine retribution and GamBan iGB Diarycenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Merry Friday igamers! In today’s missive we add to the collective eyeroll over the latest Brexit shambles, follow up on Rich Alati’s month-long solitary confinement bet, revisit the TV ad ban, follow a couple of nun’s on the run and review GamBan’s charging policy. Enjoy!Brexit: when the fun stops, backstop As you know the Diary likes to give its opinion on most things. Ok, it has to have a link to gambling, even if it’s more tenuous than Theresa May’s grip on her job. Why mention the PM? As you also know, Brexit – other countries have better names for it: clusterbuhach (Scotland), tohuwabohu (Germany) or for the original, ENGLISH way to say it: clusterf*** (or s***show, take your pick); is eating up the UK and will spit it out in God knows what form, when she returns from Brussels with whatever ‘legally binding declaration’ she can get on the Irish backstop. So when we read the Guardian’s write up of her postponement of the meaningful vote on the withdrawal agreement on Monday we had to smile, especially the last paragraph: “There was only one explanation that now made sense. The prime minister had taken a huge bet with Paddy Power on her still being in a job by Christmas. She just hadn’t read the small print. When the fun stops, stop.” As the man says Treeza: ‘when the fun stops, stop’.He’s out Talking of exits, last week the diary reported an unusual prop bet between poker pros Rich Alati and Rory Young. Alati just spent 20 days in an unlit bathroom with nothing for entertainment except paddleball and a Rubik’s cube – an infuriatingly illogical choice of toy to take into a lightless room! Back in November the pair wagered $100,000 on whether or not Alati could survive 30 days in isolation. However this week he negotiated his exit after 20, taking away $62,400 for his troubles. Alati is reported to have left his bathroom confinement ‘seemingly in good spirits’.With friends like these… The fact that the UK betting industry has agreed to the whistle to whistle ban on TV advertising is an admirable, and arguably necessary, step. Yet the move that may lead to the end of Ray Winstone’s disembodied head looming out of TV screens has quickly been followed by calls for further concessions. It’s clear the sector doesn’t have many friends these days. This made it all the more alarming for the Diary to hear one frustrated operator accusing a high-profile betting body of “running for the hills” whenever the going gets tough earlier this week. As the old cliché goes, with friends like these, who needs enemies?Mercy of the law? The two nuns accused of embezzling half a million dollars from a school to gamble in Vegas received the bad news from the Archdiocese of Los Angeles this week that this matter would no longer be handled internally and they would be forced to take “full responsibility for the choices they made and [be] subject to the law”.  Ex-principal Sister Kreuper and teacher Sister Chang, both recently retired, allegedly pilfered and spent the ill-gotten gains over a period of ten years, presumably making detection more difficult by the school or the casinos in Vegas (the Diary can’t help wondering whether they were wearing their habits at the time or gambling incognito). However, one parent at the school was heard telling a reporter on Radio 4 this week that they thought it strange that Kreuper and Change drove such flashy cars. A spokesman for the church said they intended to pay all the money back once they have worked out how much had gone missing. They also didn’t rule out having a whip round among the congregation to pay for their legal costs. If only the rest of us normals had that to fall back on in times like these…Profiting from peoples’ misery One of the most frequent accusations levelled against the industry is that it is profiting from peoples’ misery. The pressure group Fairer Gambling, the artist formerly known as the Campaign for…, is never one to pass up the opportunity to make this claim. So it was a bit of a surprise to see one of that body’s leading lights cc’ed into an email with a GamBan domain. GamBan, of course, being one of the latest gaming site-blocking solutions to hit the market in recent times. Kindred currently offer customers licences free of charge, but those who don’t have a Kindred account must fork out an annual fee of £9.99. Problem gambling figures’ upward trajectory suggests that more people will turn to technology to limit their gambling and The Diary is totally supportive of anything that helps make igaming safer for customers. But to charge for these solutions… isn’t that… profiting from peoples’ misery…?That’s all for this week folks – have an amazing weekend! Email Addresslast_img read more

Italy issues 70 new igaming licences

first_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Italy issues 70 new igaming licences Regions: Europe Southern Europe Italy Italian gaming regulator Agenzia delle Dogane e dei Monopoli (ADM) has finally completed the process to award a tranche of new online gaming licences to operators, with 70 companies approved following a number of delays to the process.Of the total number, 66 have been granted full permission to operate in the market. The final four, Scommettendo, Spati, Sogno di Tolosa and Universal Solutions, have been awarded licences with additional – unspecified conditions – attached.The other 66 licensees includes a number of high profile international operators including The Stars Group, William Hill, Paddy Power Betfair, GVC and bet365, local land-based and online businesses, and new Scandinavian entrants such as Casumo and Videoslots.Each licence required operators to pay a fee of €200,000 (£175,535/$226,379), with companies also required to have an existing Italian or European Union gaming licence, with turnover of at least €1.5m in the past two years. All licences are valid until December 31, 2022.However, the final total of 70 licences falls far below the 120 licences that the Italian government had made available. It also means that ten companies either had their applications rejected or pulled out of the process, after ADM revealed in April last year that it had received 80 applications in total.Originally scheduled to open in September 2017, the application window finally opened in January 2018, with ADM then saying in October last year that it expected to finalise the process in the coming weeks.It was carried out against a backdrop of wholesale change, with the government introducing its so-called Dignity Decree, effectively banning all gambling advertising from January 1, 2019, in July 2018.
This was followed by a tax hike in December last year, also effective from January 1. This sees the tax on online casino and bingo increased to 25% of gross gaming revenue, with fixed odds betting tax raised to 24% of GGR. Land-based sports betting operators are now taxed at 22% of GGR, while tax on virtual sports (22%), video lottery terminals (6.75%) and amusement with prizes (18.85%) were also increased.Despite these changes the market continues to perform well. iGamingBusiness.com’s Italy dashboard, compiled with figures provided by Ficom Leisure, revealed that regulated igaming revenue rose 16.8% in 2018 to €1.53bn. The majority of this revenue (46.4%) came from online betting, followed by casino, which accounted for 41.9% of the total. 13th February 2019 | By contenteditor Topics: Casino & games Legal & compliance Sports betting Slots Tags: Mobile Online Gambling Slot Machines Italian gaming regulator Agenzia delle Dogane e dei Monopoli (ADM) has finally completed the process to award a tranche of new online gaming licences to operators, with 70 companies approved following a number of delays to the process. Casino & games Email Addresslast_img read more

The igaming industry’s 2019 predictions: part one

first_imgOPERATORS AND SUPPLIERSHenrik Tjärnström, CEO, Kindred Joe Saumarez Smith, chairman, Bede Gaming Irina Cornides, CMO, Jackpotjoy Nick Garner, founder, Oshi.ioWhat were the defining developments or events of 2018? Henrik Tjärnström: For Kindred the key events for 2018 include stepping into the US market and re-regulation in Sweden. These are, of course, completely different challenges for us as a company but we are glad to see a general trend for more markets adopting local licence models and thereby increasing the level of market control. For the industry as such, I would point to the World Cup in the summer, which once again saw record-breaking activity and engagement for sports betting.Joe Saumarez Smith: The two themes that dominated the industry in 2018 were increased regulatory pressure and a further shift in public perception of gambling. This was especially marked in the UK but it applies in many countries. Operators spent a large part of the year making sure they were 100% compliant with the Gambling Commission’s tougher stance on responsible gaming, source of funds, KYC and other consumer protections, which meant their suppliers did so too. Regulators around the world are increasingly taking their lead from the Gambling Commission, as we can see, for example, in the new Swedish regulations.Irina Cornides: Sweeping regulation roll-outs and reform dominated boardrooms this year. To name but a few examples, the US repealing PASPA, new bonus regulation and proposed tax increases in the UK, Italy banning advertising and raising taxes, Spain lowering taxes and extending new licences, and Sweden moving to fully regulate. Some key focuses for us were adapting to the new regulatory landscape in the UK, ensuring that we are at the forefront of player protection and taking advantage of new licensing opportunities in other markets, such as Sweden.Nick Garner: As a crypto casino person, it was the fall of bitcoin values; all that price volatility scared away a lot of customers. Fortunately, after April 2018 bitcoin stabilised enough for crypto players to come back.How do you see these continuing to shape the igaming space in 2019? HT: The re-regulation trend will continue to raise the barriers for the industry and I’m expecting to see more consolidation across markets. We have already seen movements in this direction and 2019 will see a lot of operators struggling to manage the increased burden of regulation. For larger operators like Kindred this will not be a major issue and we are, of course, prepared to fill any void.JSS: Gambling liberalisation and crackdowns historically go in cycles and I fear that 2019 will be more of the same. The industry is on the back foot and there are still some substantial fines and poor conduct by some big operators that have not yet been made public. UK politicians may be a little bit busy with Brexit but cracking down on gambling is an easy headline.IC: I expect regulators will fully regulate new markets, further change taxation structures and increasingly champion measures ensuring a fair and safe experience for consumers. This is likely to include further directives on advertising, bonusing and, potentially, betting limits. These trends will undoubtedly lead to further consolidation, an increased appetite to explore emerging markets and will shift the focus from competing on bonus pricing to product differentiation.NG: Crypto for gambling has gone from a curiosity to a heavyweight, growing thing. Big new players are entering the market with very strong offers, for example, stake.com, and strong, existing brands such as Bodog have adopted crypto as a payment method. These milestones help cement crypto as an enduring force in igaming.What do you see as the biggest challenges ahead for the sector in 2019? HT: The reputation of the industry and further regulation. The larger operators will manage the regulatory burden – it may even be good for us, as it consolidates a very fragmented market – but the reputational challenge we see in most markets is damaging for all of us. As an industry, we have to get to grips with this.JSS: Changing the public’s perception of gambling is not something that can be done overnight. The industry needs to make the case that a very high percentage of people who gamble derive a great deal of enjoyment from it and do not suffer harm. At the same time we need to accept that those who do experience harm need to be much better looked after and protected.IC: A rapidly changing political and regulatory landscape, margin pressures, increased operational complexity and shifts in consumer behaviour will continue to present challenges as well as opportunities. Executive leadership needs to operate with foresight, creativity and efficiency to deliver more value to consumers and remain competitive. Success will depend on businesses being at the top of their game.NG: Overzealous gambling legislation from various governments, leading to big operators consolidating their positions and smaller operators having a tough time accessing regulated markets. One side benefit of this will be much more focus on responsible gambling.REGULATORYSimon Bernholt, partner, Wiggin LLP Christina Thakor-Rankin, principal consultant, 1710 GamingWhat were the defining developments or events of 2018? Simon Bernholt: It was a very challenging year for operators licensed by the British Gambling Commission. The number of public statements from operators, combined with fines and payments in lieu of financial penalties, increased markedly as the Commission took action against breaches of its licence conditions and codes of practice, particularly in relation to AML and social responsibility. When combined with the substantial reduction in stakes for FOBTs – the initial timing of which even prompted a non-Brexit-related ministerial resignation – plus an increasing focus on gambling advertising, last year was a perfect storm for the gambling sector.Christina Thakor-Rankin: Political polarisation and a global shift in attitudes to gambling. One of the biggest impacts has been on advertising – in Australia, Italy and the UK. Other big events continue to be Brexit and the Supreme Court ruling on PASPA in the US, which opened the door for regulated sports betting. The dark horse, the impact of which is as not yet known, is 15 regulators signing up to explore the links between gambling and gaming.How do you see these continuing to shape the igaming space in 2019? SB: Operators are hoping that things can only get better. Unfortunately, that’s likely to be wishful thinking. The reverberations from 2018 will continue to be felt during this year, not just by those operators still under investigation by the Commission, but also those furiously updating their processes to reflect the ‘lessons’ from the public statements.CT: In 2019, sports betting will continue to open up across the US but could be stalled by Senator Hatch’s draft bill, which looks at regulating sports betting at a federal level. As for Brexit? This could end up being something or nothing.What do you see as the biggest challenges ahead for the sector in 2019? SB: Anti-gambling campaigners, not satiated by the FOBT changes and the voluntary ‘whistle-to-whistle’ ban proposed by the industry late in 2018, will continue to push for greater restrictions on not only gambling advertising but also the other activities of gambling operators. This may be the year in which the gambling industry starts to push back but without a change in public sentiment it looks like the challenging times will continue.CT: The biggest will continue to be around gambling and social responsibility. Advertising and sponsorship restrictions will start to kick in, there may be greater payment blocking and for sure increased operator responsibility. The debate around gambling, children and harm will intensify as esports continues to evolve and fuels discussion about gambling and gaming. The other challenges impacting on both reputation and revenue will relate to the trends of 2019: the iGeneration, diversity and the rise of women’s sport.MARKETERSMartin Calvert, marketing director, Blueclaw Harry Lang, founder, Brand ArchitectsWhat were the defining developments or events of 2018? Martin Calvert: It was a big year with huge mergers, FOBT legislation and the opening of markets in the Americas. As a marketing agency that works with both operators and affiliates, the defining development we see is the continuing scope for opportunistic approaches to digital strategy to deliver results amid intense competition and uncertainty.Harry Lang: The progression of US states and their toe-tipping efforts towards regulation. However, the big development in terms of the long-term wellbeing and prosperity of the industry must be Sky Bet’s impressive efforts as the frontrunner in responsible gaming.How do you see these continuing to shape the igaming space in 2019? MC: New markets are opening but there will be bumps along the way. Igaming companies must protect progress by ensuring that digital strategies – particularly in SEO – are quality-focused, without the risk of Google penalties or regulatory challenges. From there, they must evaluate opportunities and be ready to move to take advantage across SEO, advertising and other disciplines.HL: The ‘When the fun stops, stop’ campaign is great but still has the feel of lip service, while Sky Bet has made player protection a core strategy and invested accordingly. In 100 years, whatever form of digital gaming exists will be in a better place as a result.What do you see as the biggest challenges ahead for the sector in 2019? MC: The biggest challenge commercially is represented by industry leaders who can literally afford to waste money. Regulatory challenges and the ability of search engines to identify and punish spammy SEO tactics remains, and gaming – an industry that has its fair share of risk takers – will continue to see volatility in SEO results. Agile companies will have many opportunities but only if they have the discipline to focus on a high-quality, data-driven strategy.HL: The consolidation in the affiliate sector is great for some hardworking affiliates who have sold up to the networks but, as a channel, affiliation has been pricing itself out of the market and needs some adjustment to get back some of the entrepreneurial spirit that made it so attractive in the first place. Hearty competition in regulated markets is making it harder to make a quick dollar in gaming, which may not be a bad thing. But we still lack true innovation at a product level – hopefully the squeeze of hundreds of competitors will be the mother of invention in 2019. Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Subscribe to the iGaming newsletter Tags: Card Rooms and Poker Mobile Online Gambling 2018 was packed with significant moments in the industry, from the repeal of PASPA to the rise of crypto. As 2019 begins, we talk to the sector’s leading founders, experts and opinion formers about the opportunities and challenges set to define igaming this year.In part one we hear from operators and suppliers, regulatory experts and marketers. Tomorrow we’ll cover analysts, technology and innovation and people.center_img The igaming industry’s 2019 predictions: part one Topics: Casino & games Legal & compliance Marketing & affiliates People Sports betting Strategy Bingo Poker Social gaming 14th February 2019 | By Joanne Christie Regions: Africa Asia Europe LATAM US As 2019 begins, we talk to the sector’s leading founders, experts and opinion formers about the opportunities and challenges set to define igaming this year. In part one we hear from operators and suppliers, regulatory experts and marketerslast_img read more

Pennsylvania sports betting revenue slumps in February

first_img Sports betting revenue in Pennsylvania fell by 25.4% month-on-month in February despite the state’s handle only falling slightly, according to the latest figures released by the Pennsylvania Gaming Control Board (PGCB).Pennsylvania’s sports wagering handle totalled $31.5m (£23.7m/€27.7m) last month, compared to January’s record figure of $32m and almost double the $16.2m posted in December.However, sports betting revenue slumped from $2.61m in January to $1.95m in February as a result of player winnings. Pennsylvania was able to take $700,850 in tax from sports wagering activities during the month.The decline in both revenue and handle, albeit the latter only being a slight drop on the previous month, comes despite the NFL’s showpiece Super Bowl event taking place in February.Rivers Casino claimed top spot in the state’s market in terms of both handle and revenue. Sports betting handle hit $8.15m, down from $9.54m in January, while revenue dipped from $641,000 to $627,520.SugarHouse Casino, active in the market since December 2018, saw its handle drop from $10.8m in January to $7.09m, but revenue rocketed from $104,000 to $522,300.Elsewhere, Parx Casino, which only began sports betting operations in January, reported an improved handle of $6.97m, compared to $5.38m in the previous month, but revenue plummeted from $1.17m to $370,000.Hollywood Casino, supported by a William Hill-powered sportsbook, posted the lowest revenue of the six venues that were fully operational during February. The operator reported revenue of just $13,900 off a handle of $3.74m, a stark contrast to January’s figures of $641,000 off $5.54m.Meanwhile, Greenwood Gaming and Entertainment’s Parx South Philadelphia Turf and Harrah’s Philadelphia in Delaware County, both enjoyed growth in their first month of full operations in the state.Parx South posted revenue of $275,900 from a handle of $2.60m, compared to $92,000 on handle of $858,000 in January. Harrah’s Philadelphia generated revenue of $137,200 from $2.95m, up from $104,000 on a handle of $616,000 in the previous month.However, despite the overall decline in both revenue and handle in February, Pennsylvania can expect a boost in March after Paddy Power Betfair’s FanDuel opened a sportsbook at Boyd Gaming’s Valley Forge Casino Resort near Philadelphia on March 13.The 1,800sq ft sportsbook will feature seven teller windows, 29 video displays, two sports tickers and a seating area, with customers able to bet on major US sporting events and collegiate sports.Image: formulanone Topics: Finance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Address Regions: US Pennsylvaniacenter_img Finance Sports betting revenue in Pennsylvania fell by 25.4% month-on-month in February despite the state’s handle only falling slightly, according to the latest figures released by the Pennsylvania Gaming Control Board (PGCB). Pennsylvania sports betting revenue slumps in February 19th March 2019 | By contenteditorlast_img read more

Global Gaming to appeal Swedish licence revocation

first_img Email Address Global Gaming to appeal Swedish licence revocation Casino & games Following the news that its Swedish operating licence had been revoked, Global Gaming has pledged to fight the decision.The operator’s SafeEnt Ltd subsidiary was stripped of its licence by the country’s gambling regulator Spelinspektionen, which highlighted a series of failings throughout the business.The Ninja Casino operator was found to have failed to introduce effective player protection controls and anti-money laundering processes, amounting to significant breaches of the country’s gambling regulations.While Global Gaming has opted to comply with the ruling and withdraw its services from the market, it disputes Spelinspektionen’s decision.The operator said it was in dialogue with the regulator concerning its operational shortcomings, and had taken action to ensure it was complying with Swedish regulations.“The information this morning from [Spelinspektionen] was unexpected as the company was under the impression that we are compliant with the regulations which the new legislation has set for gaming operators in Sweden,” the company’s acting chief executive Tobias Fagerlund, who took charge in April, replacing Joacim Möller in the role.“That they have come to this decision is odd,” he added.Global Gaming noted that it – and its legal advisors – was under the impression that it now fulfilled all necessary criteria for securing a licence. It noted that its lawyers believed the licence revocation was unjustified, and that it had grounds to dispute the decision.“We will of course appeal the decision and have good reasons to believe that we will be successful,” Fagerlund said. “That the license now have been revoked lacks legal grounds and comprises disproportionate action which will cause the company significant damage.” 17th June 2019 | By contenteditor Topics: Casino & games Legal & compliance Strategy Slots Table games Tags: Mobile Online Gambling Slot Machines Following the news that its Swedish operating licence had been revoked, Global Gaming has pledged to fight the decision. Earlier today Swedish regulator Spelinspektionen cited significant failings in the operator’s social responsiblity and anti-money laundering controls as grounds for removing the certification. Subscribe to the iGaming newsletter Regions: Europe Nordics Sweden AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Australian regulator proposes binary options ban

first_img Australian regulator proposes binary options ban Subscribe to the iGaming newsletter Binary options could be banned in Australia under proposals unveiled by the nation’s corporate regulator.Australian Securities and Investments Commission (ASIC) has published a consultation paper in which it outlines its concerns about over-the-counter (OTC) binary options as well as contracts for difference (CFD) investments, such as foreign exchange trading.In documents published alongside the paper, ASIC said licensed issuers received gross trading revenue of $490m from binary options and $1.5bn from CFDs last year “which can largely be attributed to a combination of net client losses and fees and costs charged to clients”.ASIC said 80% of clients who trade binary options lose money while 72% of clients who trade CFDs lose money.Citing its concerns about the amount of money being lost by consumers, ASIC has proposed banning all Australian-based brokers from having Australian binary options clients. It would also impose stricter conditions on the issue and distribution of OTC CFDs to retail clients.“For many years ASIC has taken strong action to protect consumers of binary options and CFDs, using the range of regulatory tools available to us. However, we are concerned that consumers continue to suffer significant harm from trading these products,” said ASIC commissioner Cathie Armour.“A complete ban would prevent retail clients from losing money trading binary options. We believe binary options provide no meaningful investment or economic use, and have product characteristics similar to gambling products.”New restrictions to CFD trading would include the imposition of leverage limits, and the implementation of a standardised approach to automatic close-outs of client’s CFD positions in margin call.ASIC said it is seeking to take draconian action after a series of interventions have failed to have the desired impact on the sector and consumer losses.It has in recent years taken enforcement action to address instances of misconduct and last year introduced the ASIC Client Money Reporting Rules.The Australian market for binary options and CFDs is growing rapidly, with the number of clients more than doubling in the past two years to one million people. Regions: Oceania Australia AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Binary Options and Forex Topics: Legal & compliance Binary options could be banned in Australia under proposals unveiled by the nation’s corporate regulator. ASIC is also looking to impose stricter conditions on the issue and distribution of CFDs after expressing concerns about the amount consumers are losing. Legal & compliance 27th August 2019 | By contenteditor Email Addresslast_img read more

Webinar: PSD2 and strong customer authentication: What’s the cost?

first_img Email Address Payment Services Directive 2 (PSD2) is a major upgrade to European payments regulation, and it is bringing big changes to the way payments work across Europe. One of the biggest changes is coming in September 2019, with the introduction of mandatory Strong Customer Authentication (SCA) for electronic transactions across Europe. This change will bring some great benefits, especially in helping to reduce fraud – but it also has the potential to increase friction in the shopper journey. In addition, if merchants and the partners who support them are not ready for SCA they risk a material increase in declines after the September deadline. This session covers: Webinar: PSD2 and strong customer authentication: What’s the cost? 23rd October 2019 | By Topics: Uncategorized This webinar webinar sponsored by Worldpay discusses PSD2 and the changes it will bring to the gaming industry. The webinar was recorded on Tuesday 29th October 2019.center_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter An introduction to PSD2 SCA What merchants, PSPs, and other partners need to do to comply with SCA and keep payments flowing seamlessly What options are available to avoid performing SCA on some European transactionsThis webinar is sponsored by Worldpay Uncategorizedlast_img read more

Enlabs’ Global Gaming deal cleared by Estonian competition watchdog

first_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Enlabs’ Global Gaming deal cleared by Estonian competition watchdog 9th October 2020 | By Robin Harrison Regions: Europe Baltics Nordics Enlabs noted that the only condition attached to its non-negotiable offer was that it receive all necessary approvals, permits and clearance from regulatory bodies, including competition authorities.  Shares in Enlabs are trading down 0.16% at SEK31.40 per share in Stockholm Friday (9 October) morning, while shares in Global Gaming are down 0.18% at SEK11.10 per share. Optibet operator Enlabs has received approval from the Estonian Competition Authority to proceed with its acquisition of Global Gaming. Enlabs’ bid, published in late September, values Global Gaming at SEK450m (€43.2m/$50.8m). It currently holds a stake of approximately 66.70% in the Ninja Casino operator, and will pay a maximum of SEK150m for the operator’s remaining 13.6m shares, and issue up to 4.9m in Enlabs. Strategycenter_img While the committee said the offer was “moderate” compared to other recent takeover bids for First North or Nasdaq Stockholm-listed businesses, it said the deal was a good strategic fit. In particular it noted that the acquisition would allow Global to expand activities in core Enlabs markets, and vice-versa, as well as targeting newly regulated territories such as Ukraine. Email Address The Estonian Competition Authority’s approval, the operator said, meant that the only condition for completion has now been met, meaning it can proceed with buying up all remaining shares in Global.  Topics: Strategy M&A Global’s investors have the option to sell each share they hold priced at SEK11 apiece, or exchange them for 0.36 shares in Enlabs. They may also take a payment comprising 50% cash, and 50% shares.  The bid has backing from an independent board committee formed by Global to evaluate the offer. This was necessary as Niklas Braathen chairs both businesses, with the committee comprising Jonas Bertilsson, who serves as its chair, Michael Niklasson and Arne Reinemo, as well as acting chief executive Christian Rasmussen. Tags: Global Gaming Enlabs Optibet Ninja Casino Global shareholders will now have until 2 November to accept Enlabs’ offer. Should its stake be raised to more than 90% of the operator’s shares, Enlabs will delist Global from the Nasdaq First North Exchange.last_img read more

ICE Africa keynote Q&A: Nkoatse Mashamaite

first_imgthe dtic is working with law enforcement and regulators to ensure that illegal online gambling is deterred in the country. It is our major concern because the continued operation of illegal online gambling undermines the regulation of gambling in the country. Especially licensed operators.  AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter At a time when online gambling is expanding across Africa, do you see South Africa as an example for other markets to follow, in terms of regulation? What sort of progress do you hope to see on the National Gaming Amendment bill in the short-term, considering it is still yet to be enacted?  But it gets worse as it remains the unchecked source of irresponsible gambling which comes with severe socio-economic problems the country has to deal with. Topics: Legal & compliance Compliance Regulation The public hearings were considered and the Select Committee is yet to make a decision on voting mandates from Provinces. It is difficult for me to advise on how long that process will take. Do you feel that the recent support for legal igaming from the likes of Tsogo Sun and Sun International will prompt lawmakers to make the bill a priority? The National Gambling Amendment Bill has been adopted by the Portfolio Committee under the National Assembly. As a Bill that falls within the concurrent competence of national and provincial government, it has been sent to the Select Committee under the National Council of Provinces to also consider and vote on it. How much of a concern is illegal gambling – online or offline – in the wake of the national lockdown? ICE Africa keynote Q&A: Nkoatse Mashamaite ICE Africa Digital begins tomorrow (27 October) and runs until 29 October. Register here for the opportunity to hear from some of the leading regulators, operators and suppliers on the continent. Ahead of his keynote address at ICE Africa Digital later this week, the South African Department of Trade, Industry and Competition’s (dtic) director of gambling law and policy Nkoatse Mashamaite shares his thoughts on recent regulatory developments in the country.center_img Subscribe to the iGaming newsletter The current government position is that igaming is illegal in the country and there is currently no policy to allow it.  Regions: Africa South Africa Once government resolve to allow igaming, that will be done through a policy development process and all stakeholders will be consulted during that process. Other African countries have the sovereignty to decide on what policy position to adopt in their respective jurisdictions.  Even during the day such policy will be adopted in South Africa it will be on how to best legislate for South Africans. Is dtic taking an active interest in Phumelela’s business rescue deal? Do you see it as a concern that the business may be broken up, or as an opportunity to expand the South African horse racing industry? Regulation 26th October 2020 | By contenteditor We are monitoring how the process unfolds as we believe that the survival of Phumelela has an impact on the entire value chain of horseracing wherever Phumelela has a footprint. But the dtic is not actively involved as you will remember that the industry is self-regulated. Tags: Nkoatse Mashamaite ICE Africa Email Addresslast_img read more