Compliance Updates
Gaming Innovation Group awarded two Swedish licences
Gaming Innovation Group Inc. (GiG) has been awarded two licences in the Swedish market. One licence will be used for its inhouse brands (Rizk, Guts, Highroller, Thrills, Kaboo and Betspin) and the other licence will be offered to its external customers.
The new Chairman of the Board, Petter Nylander, is one of the pioneers and driving forces behind the Swedish re-regulation of the gaming and gambling market. He also has significant experience from the iGaming industry as the former CEO of Unibet (now Kindred Group plc).
Petter Nylander, Chairman of the Board at GiG says: “I am very excited in joining GiG in this dynamic market at this point in time, the Company is ready for its next phase of expansion with an accelerated need for compliance and end user safety. GiG will shortly be moving its listing to Sweden and it is a pleasure to see the Swedish market re-regulate, which is something I have personally been fighting for over a significant period.”
“There is an enormous potential for growth in regulated and soon-to-be regulated markets globally, such as in the US, which state by state we see swiftly opening up for online casino and sports betting. I am looking forward to driving the success of GiG to the next level. GiG is uniquely positioned with its B2B solutions and B2C offering covering the whole value chain in iGaming and is supported by a strong Board in its further growth and opportunities.”
Robin Reed, CEO at GiG says: “I am delighted GiG is now ready for further growth in the regulated Swedish market where we have offered our online gaming entertainment since 2013. Sweden is a very important market, both to us and to many of our customers. We are looking forward to delivering our fair and fun offering to Swedish end users in the new regulated environment. GiG embraces a safe and trusted iGaming environment and has been and will continue investing in technology and people to be at the forefront of responsible gaming. Examples of our innovative player safety services include a leading marketing compliance tool ‘GiG Comply’, machine learning and artificial intelligence to manage responsible gaming and a hands-on, inhouse Player Safety Team which directly supports the end users.”
“We are excited about the potential for accelerated growth as we expand in regulated markets globally. The new Board of Directors brings all the knowledge and experience we need to further accelerate the Company in an increasingly regulated environment and to drive towards rapidly becoming the leading iGaming partner supporting our customers in building strong brands.”
The Swedish market will be regulated from 1 January 2019 with a betting duty of 18%, the licences are awarded by The Swedish Gambling Authority, Lotteriinspektionen. GiG currently holds licences in Malta, UK, New Jersey, Germany (Schleswig-Holstein), Sweden and has a pending licence in Spain.
On 11 December, a new Board of Directors was elected by GiG’s shareholders at a Special Meeting in Oslo. Petter Nylander was elected new Chairman of the Board. Five Directors of the Board were elected: Helge Nielsen (former GiG Chairman of the Board), Henrik Persson Ekdahl (re-elected Director of the Board), Robert Burén (new Director of the Board), Frode Fagerli (new Director of the Board) and Paul Fischbein (new Director of the Board).
About Gaming Innovation Group (GiG):
Gaming Innovation Group Inc. is a technology company providing solutions, products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group’s vision is ‘To open up iGaming and make it fair and fun for all’. Through the ecosystem of products and services, GiG is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.
For more information about GiG also see: www.gig.com
Compliance Updates
Veikkaus Fined €2.9M for Advertising to Minors
In May 2024, Finnish Operator Veikkaus received a request for clarification from the Police Board about its advertising in connection with television programmes that are also watched by minors. The company responded to the clarification request and adjusted its operations in cooperation with the authority. As a result, Veikkaus’ advertising will no longer appear in certain programme environments.
Veikkaus has received a marketing ban from the Police Board dated 12 November 2024 enhanced by a fine. It refers to the clarification request from May and highlights the wrongly placed advertisement that happened in July as a violation. In addition to this, it brings out new perspectives on the placement of advertisements in connection with television programmes. They have now included new programmes aimed at adults, but may also be of interest to minors. Examples include popular Saturday night entertainment programmes.
“It seems that the Police Board may interpret the matter in a new and broader way. We have been in contact with the Police Board as soon as the decision was made and we are going through this issue with them. We need clarity so that we know how to act correctly,” Anu Kytö, sales and marketing director at Veikkaus, said.
“We are very sorry that, despite our joint development measures, our advertising has been seen in the advertising breaks of programs aimed at minors due to human error,” Kytö added.
Veikkaus’ advertising is bought in such a way that the target group is people aged 25 and over. The media office books and the television channel places the ads based on viewer profiles. The instructions have been reviewed together with the Police Board.
“Veikkaus has been buying TV advertising from us for years, with an age distribution set for the purchase: more than 70% of the program’s viewers must be adults. This is a jointly agreed model that has been valid for years and is known to the authorities. Now we are waiting for possible new instructions,” MTV’s commercial director Sauli Asikainen said.
The ban is valid for three months and its validity begins 30 days after notification. The Police Board imposed a fine of 2.9 million euros as an effect of the marketing ban.
Compliance Updates
Snooker Player Mark King Banned for 5 Years for Fixing Match and Providing Inside Information
English snooker player Mark King was handed a five-year ban on Friday after being found guilty of match-fixing and providing inside information in the latest corruption scandal to blight the sport.
The punishment for the 50-year-old King, who reached a career-high ranking of No. 11 in 2003, related to a match against Joe Perry at the Welsh Open played on Feb. 13 last year that was flagged following suspicious betting patterns.
King was suspended by snooker’s world governing body a month later and an independent disciplinary commission has ruled that he fixed the result of the match, while giving information to others about that match for betting purposes. He had denied the charges.
His ban ends after March 17, 2028, and King was also ordered to pay more than 68,000 pounds ($86,000) in costs.
“I have known Mark King since he was very young, he is a very experienced player who has enjoyed great success, and I am deeply saddened to read the finding in this case,” said Jason Ferguson, a former player who is now chairman of the World Professional Billiards and Snooker Association. “However, the integrity of this sport will always be our No. 1 priority.”
King had also been charged with fixing the outcome of a match against John Higgins played on Dec. 13, 2022, and for providing inside information on it. Those charges were dismissed.
The governing body said Perry and Higgins were not accused of any misconduct related to the case.
Compliance Updates
Spillemyndigheden Calls Attention to FATF’s Updated Lists of High-risk Jurisdictions
The Danish Gambling Authority has called attention to FATF’s (Financial Action Task Force) updated lists of high-risk jurisdictions: the Grey List (jurisdictions under increased monitoring) and Black List (call for actions). Among other things, gambling operators must include FATF’s lists of high-risk jurisdictions when risk assessing players.
Jurisdictions listed on the Grey List are Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, the Ivory Coast, Croatia, DR Congo, Haiti, Kenya, Lebanon, Mali, Monaco, Mozambique, Namibia, Nigeria, the Philippines, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen.
Jurisdictions listed on the Black List are Democratic People’s Republic of Korea, Iran and Myanmar.
Gambling operators are required to conduct enhanced customer due diligence (EDD) pursuant to section 17(1) of the Danish AML Act, if a player is assessed to impose a higher risk of the gambling operator being misused for money laundering or terrorist financing.
Gambling operators shall conduct this risk assessment based on Annex 3 to the AML Act (high-risk factors) which includes the FATF high-risk country lists (the so called black list and grey list).
It is not required that gambling operators perform EDD if a country is listed on the FATF’s list. EDD are only a requirement for players from jurisdictions listed in the EU Regulation of High Risk Third Country list pursuant to 17(2) of the AML Act.
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