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Compliance Updates

Slovakian government is set to revamp the existing gambling laws

Zoltan Tundik

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Slovakia is set to open its online casino market to internationally licensed operators by revamping its already existing gambling laws.

Just recently, Slovakia’s Ministry of Finance unveiled a draft legislation which could take affect by March 2019 and it would rearrange the country’s gambling legal framework completely.

After much anticipation coming from the industry experts, the Slovak government is taking first steps which would allow international companies to seek online casino licenses and would erase the monopoly currently held by state-run operator Tipos.

The new law responds to the latest trends in digitization which are also affect the gaming industry and among the goals the legislations is also seeking to increase consumer protection.

Sources claim(CalvinAyre.com) that online casino revenue would be taxed at a rate of 23% (locally licensed online sportsbook operators currently pay 27%).

Land based

The bill reinforces the conditions for the exercise of gambling operation within the Slovakian territory and the availability of gambling will be reduced. As of March 2019, this limit will be set to a minimum of 15 units. After increasing the minimum number of devices in the gaming halls from 5 to 12 units, there has been a decrease in the number of operations since January this year.

The law will also impose the presence of only one gaming operator per room. Also the time of limited play and to the municipal administrations will be allowed to prohibit certain types of games of chance during the established days, but in any case no more than twelve in a year.

All the measures adopted in the previous amendment to the law remain in force, for example a ban on installing gaming machines in pubs or bars. The law also provides for the introduction of the register of excluded persons who will not be allowed to play with certain types of games of chance.

Online

Among the most important changes brought by the new legislation are the measures for online gambling, an activity that involves which is rapidly growing. The Ministry of Finance was inspired by European countries, such as Denmark, Sweden, Romania or the Czech Republic, with particular attention to strengthening the protection of players. The bill creates a new licensing structure which would regulate online operators to strict rules and those who will not comply or do not have a license will have to answer before a judge.

Upcoming briefings about the Slovakian gambling market will be during CEEGC Budapest, where Štefan Švec (Playtech) will share more insights. Visit www.ceegc.eu for more details.

 

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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Compliance Updates

Swedish Court Reduces Casino Cosmopol’s AML Penalty

Niji Narayan

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Swedish Court Reduces Casino Cosmopol’s AML Penalty
Photo Source: casinocosmopol.se
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Sweden’s Administrative Court has reduced the penalty issued to Casino Cosmopol in 2018 from SEK8m to SEK3m.

The fine was issued by Lotteriinspektionen in relation to systematic deficiencies in Casino Cosmopol’s policies related to money laundering and terrorist financing in November 2018.

Casino Cosmopol submitted an appeal against this in December 2018, which was heard in Sweden’s Administrative Court last week. The hearing found that while the court agreed that the casino had breached its licence conditions, there should be a reduction in the penalty fee paid.

In response to the ruling, Lotteriinspektionen has said it will consider launching an appeal of its own against the Administrative Court decision.

“Casino Cosmopol AB has applied for a license to operate games when the new Gaming Act comes into force at the turn of the year. The Lottery Inspectorate has now informed Casino Cosmopol that they need to supplement their application with a description of the measures planned to comply with the money laundering regulations,” the regulator said.

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Compliance Updates

MGA publishes Guidelines on the Impact of the UK’s Exit from the European Union

George Miller

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MGA publishes Guidelines on the Impact of the UK’s Exit from the European Union
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The Malta Gaming Authority is publishing a guidance note on the impact of the UK’s Exit from the European Union in consideration of the United Kingdom’s exit from the European Union. The contents of the guidance note relate solely to regulatory affairs within the remit of the MGA, and operators should also be aware of ulterior consequences resulting from Brexit, including but not limited to data protection, immigration, employment, duty, and copyright considerations.

The contents of this guidance note are of particular importance to entities established in Malta and operating in the United Kingdom, or entities established in the United Kingdom providing services and supplies within Malta, and it also details transitory measures in place for operators to ensure readiness and avoid regulatory disruption.

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Compliance Updates

iSoftBet awarded Malta B2B supplier licence

George Miller

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iSoftBet awarded Malta B2B supplier licence
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More than 100 proprietary games certified – all new titles to be offered to tier one brands in rapidly growing jurisdiction

 iSoftBet, the leading online and mobile casino content provider, has been awarded a B2B software licence from the Malta Gaming Authority (MGA) enabling it to offer more than 100 of its best performing games to a host of tier one brands.

iSoftbet is certified in 16 of the world’s largest regulated and emerging territories and provides brands with the highest quality casino games and maximum speed to market.

The supplier’s MGA B2B licence is a key regulatory landmark for the business with a host of well-known brands investing heavily in the rapidly growing jurisdiction, looking for a combination of proven and fresh content during the busiest period of the year for the iGaming industry.

Among the 100 iSoftBet games certified for Malta include classic titles such as Hot Spin, Vegas High Roller, and Wild Ape.

iSoftBet has a reputation for being at the forefront of slot development, performance, product diversity and innovation with a portfolio of more than 150 proprietary titles and more than 4,500 games on its Game Aggregation Platform (GAP). The software providers available on iSoftBet’s GAP will continue to supply their content if they hold a MGA Gaming Licence or letter of recognition.

Mark Halstead, Compliance Manager at iSoftBet, said: “We are one of the most certified and compliant suppliers in the iGaming industry. Malta is a key milestone for iSoftBet, and we’re delighted to have gone through the licensing process with flying colours.

“This enables us to both extend our relationships with existing tier one customers as well as gain access to a wealth of potential new clients. Malta is attracting an increasing number of well-known operators and we’re excited about what the future holds there.”

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