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New gambling law in Switzerland will come into effect from 2019

Niji Ng

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New gambling law in Switzerland will come into effect from 2019
Image Source: fineartamerica.com
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The newly passed gambling legislation in Switzerland, the Swiss Gaming Act, will come into force in the country on 1 January 2019. The law will regulate the licensed online gambling space and ban foreign operators altogether.

The new law legalises licensed iGaming companies.

The gaming act’s enforcement was confirmed by Switzerland’s Federal Council, which confirmed its implementation starting next January. It also explained it will consider licence applications during the first six months of 2019, in compliance with the new legislation, and the first ones are set to be issued before July 1, when the foreigner’s ban comes into effect as well.

Licensed operators can provide poker and roulette games to the customers, but need to stick with stringent constraints about the stakes.

The “concrete measures” of the new legislation were aimed to protect problem gamblers.

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Compliance Updates

Greenberg Traurig Forms Video Game and Esports Group: Team To Address Legal Needs of Clients in Billion-Dollar+ Industry

Zoltan Tundik

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Photo by energepic.com from Pexels
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Global law firm Greenberg Traurig, LLP has harnessed the collective competitive video gaming, or esports, experience of a core group of attorneys, to create a multi-office, cross-practice team that can serve the legal needs of clients involved in the billion-dollar-plus industry. Greenberg Traurig’s newly established  Video Game and Esports Group will be headed by Steve Walkowiak and P. William Stark, litigation shareholders in the firm’s Dallas office.

The new group, founded with approximately 20 attorneys from across the firm, will leverage the firm’s deep industry knowledge in several areas, including emerging technology, intellectual property, corporate and securities, stadium development, media rights, and litigation. The Video Game and Esports Group will also draw upon the experience of Greenberg Traurig’s Global Gaming and Sports Law Practices to address the industry’s many facets.

“This type of cross-pollination enables the firm to provide tailored solutions while proactively navigating opportunities or challenges that can arise,” Stark said.

The group currently represents esports teams and game developers across a multitude of legal needs, ranging from governmental regulation and antitrust to employment and policy initiatives.

Esports is estimated to be a billion-dollar industry and growing,” Walkowiak said. “As the business and legal landscape of this exciting industry continues to evolve, our goal is to expand on what we can offer clients with a broad range of experience and resources leveraging our expansive knowledge with this industry specific focus.”

Esports involves multiplayer video gaming played competitively for spectators, typically by professional gamers. According to published reports, the industry recently experienced a resurgence, thanks to faster online streaming capabilities, big-name investors, and a global audience that continues to grow into the hundreds of millions daily.

The relocation of world-famous esports teams to major cities across the United States is also reported to be spurring development of new startups and large-scale real estate projects. In November, the city of ArlingtonTexas opened a $10 million, 100,000-square-foot facility called Esports Stadium Arlington—making it one of the largest esports stadiums in the U.S.

Stark said that he believes “the legal needs of clients are dynamic, and it is important for the firm to be adaptive and strategic in how we solve those needs. Adding a video game and esports group allows us to draw from our existing expertise and develop viable solutions for clients involved in this sector.”

About Greenberg Traurig: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United StatesLatin AmericaEuropeAsia and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017 and is among the Top 20 on the 2018 Am Law Global 100. Web: www.gtlaw.com Twitter: @GT_Law.

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Compliance Updates

Greece to amend casino license law

Niji Ng

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Greece to amend casino license law
Photo Source: hurriyetdailynews.com
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The Greek Parliament has proposed an amendment to the casino license law. The amendment seeks changes in the terms and conditions required to operate a casino in the country. The country’s Finance Ministry is studying the proposed amendment.

The amendment aims to define new terms and conditions for sanctioning casino licenses. It is said that US investors who are interested to fund casinos in the country want clear framework and the modifications are being done at their behest. The new amendment also touches on a number of important issues, such as minimum standards for serving up each type of casino and regulations for small-scale and large-scale casino operations. Smaller-scale casinos, for whom 15-year licenses would be issued, can feature four-star hotels, shops, restaurants, and entertainment options, and the licences could last up to 15 years.

Large-scale facilities, which will get licenses up to 30 years, can feature at least five-star hotels, a golf course, a conference centre, and a spa, among other things.

The amendment clearly states that the minimum capital for a small-scale casino licence is set at €500k, and times to €5 million after five years of operations. Large-scale casino licences’ minimum capital rises to €1 million and €10 million after five years.

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Compliance Updates

Nektan Enhances Its Regulatory Compliance Through Partnership With SMP Compliance Academy

George Miller

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Nektan Enhances Its Regulatory Compliance Through Partnership With SMP Compliance Academy
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SMP Compliance Academy has today announced a partnership with Nektan PLC, the fast-growing international gaming technology platform and casino services provider, to further strengthen its compliance and regulatory training programme.

The Compliance Academy, developed by Isle of Man-based SMP eGaming, provides CPD accredited multi-jurisdictional compliance and regulatory training content to gaming professionals and operators. It has quickly established itself as one of the most trusted compliance training portals within the industry.

Founded in 2014 and headquartered in Gibraltar, Nektan has a thriving global network of more than 145 white label online casinos and a growing list of large, tier one B2B operator partners. It has a diverse portfolio of content across its proprietary casino platforms, including more than 700 games on its white label platform, Evolve, and 536 games on E-Lite, its content distribution platform.

Malcolm Campbell, Head of Compliance at Nektan, said: ‘Every aspect of compliance, including security, social responsibility and customer care, is at the heart of our business model. The SMP Compliance Academy is fast becoming an essential tool for gaming professionals to stay on top of regulatory requirements, so choosing to partner with them, was an easy decision for us.

‘Its online training platform offers bespoke, continually updated and engaging content that meets the diverse needs of our ever-growing global casino networks. The partnership with SMP will reinforce our compliance and regulatory efforts as we strive to become the global leader in providing the richest, most robust and socially responsible casino platforms and services within the igaming industry.’

Ted Pepper, Director at SMP eGaming, said: ‘This partnership is another great endorsement of the Academy. It’s encouraging to see another highly reputable industry specialist recognise our expertise and the quality of the regulatory and compliance content that we provide through the platform.

‘We’re looking forward to working closely with Nektan to provide a bespoke compliance and regulatory training solution that compliments its pre-existing cohesive culture of compliance that runs throughout the organisation.’

SMP Compliance Academy is training partners with many of the industry’s largest players including Betfred, Microgaming, William Hill, FSB Tech, Colossusbets and Betcris.

 

 

About SMP eGaming:

SMP eGaming Limited is the e-gaming division of leading corporate and trust services provider, the SMP Partners Group of Companies. It provides objective and unbiased, multi-jurisdictional licensing, regulatory and compliance advice and support to established and early stage e-gaming operators, platform and software providers. Internationally recognised, SMP eGaming is headquartered in the Isle of Man with offices in Malta and Jersey, and comprises of a team of over 30 multi-disciplined gaming professionals. Having successfully advised and guided over 75 gaming operators and software providers through the licensing process across multiple-jurisdictions – Isle of Man, UK, Jersey, Malta, and Curacao, SMP eGaming have acquired a unique insight into the international online gaming sector. For more information please visit our website: www.smpegaming.com

 

About Nektan:

Nektan is an international B2B and white label gaming software and services provider, operating in the regulated, interactive real money gaming (RMG) space, delivering original and innovative solutions to commercial organisations that have established online audiences.

Nektan’s full end-to-end technology platform, Evolve, simplifies and supports the route to mobile and desktop gaming revenues, managing the full customer experience and back-office operations, allowing commercial partners to focus on marketing the product to their consumers.

Nektan’s US operating subsidiary, provides US land-based casinos with in-venue mobile gaming solutions which allow operators to add mobile technology and content to their existing offerings, with products accessible to players across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games™ (on-property mobile entertainment), and other captivating concepts and brands.

Nektan is headquartered in Gibraltar, regulated by the Gibraltar Licensing Authority and the UK Gambling Commission, as well as in the Irish market and maintains sales and customer support operations in its two primary geographical targets, Europe and North America.  The proprietary Evolve technology is developed and maintained by a talented and experienced team of employees from Nektan’s Indian office.

Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014. Further information on Nektan can be found on the Group’s website at: www.nektan.com

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