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Compliance Updates

Gaming Innovation Group awarded two Swedish licences

George Miller

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Gaming Innovation Group awarded two Swedish licences
Reading Time: 3 minutes

 

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

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Central Europe

Poland to fight against tax crimes

Niji Ng

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Poland to fight against tax crimes
Photo Source: warsawpoint.com
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A law has been prepared by the Ministry of Justice, which allows effective counteracting organised crime, especially tax crime, illegal circulation of alcohol, cigarettes and electronics or illegal gambling. This is done by the amendment of the Penal Code prepared in the Ministry of Justice.

The new law aimed at criminals who are cheating on taxes, duties or excises.

Revenues from VAT to the state budget in 2017 increased by PLN 30 billion, which is by almost a quarter compared to the previous year. This is more than all year spending on the “Rodzina 500+” programme.

The next action is far-reaching changes in the Penal Fiscal Code. They are necessary because the obsolete law (the Penal Fiscal Code Act has not undergone a deeper amendment for 10 years) means that huge amounts instead of, for example, social purposes go to the pockets of criminals who cheat on taxes, duties or excises.

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Compliance Updates

New iGaming rules for Greece

Niji Ng

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New iGaming rules for Greece
Photo Source: qz.com
Reading Time: 2 minutes

 

The Hellenic Gaming Commission (EEEP) has publishing an updated list of rules on online gambling regulations. The new rule has amendments to the earlier set of regulations. In the new list of rules, EEEP proposes a range of player protection measures. The regulator is now inviting comments from the gaming industry and other interested parties regarding the new rules.

The regulations cover sports betting and table games, with random number generated casino games still controversially omitted. Licensees have to add responsible gambling information on all pages of their website, and offer the players the ability to set wagering limits. Operators will also be required to intervene by restricting players’ accounts, if displays the signs of problem gambling.

Players will also have the option to self-exclude online gambling either temporarily or permanently, with licensed operators required to check whether any new customers are listed on a national self-exclusion database before allowing them to gamble.

If the licensees have a valid reason, they can also exclude players from gambling, following the guidelines set by the EEEP. The EEEP has also set a number of rules related to advertising and online gambling. According to this, the licensees must avoid any malicious or offensive graphics and sounds in ads on their websites, while adverts should not block or overshadow the gaming area.

All adverts must be consistent with the terms and conditions of the game, and should not target players who have been excluded from gambling.

All licensees must seek permission to use the images of any sports players in their adverts.

Regarding the bonus features in games, the EEEP said that unless advertised differently, bonus games should subject to the same theoretical payable as all other games. Operators will also be required to clearly set out the rules of bonus games to players, displaying how much a player can win and the range of features that are included in the game.

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Asia

Patagonia Entertainment gears up for expansion in the Philippines

Niji Ng

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Patagonia Entertainment gears up for expansion in the Philippines
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Patagonia Entertainment gears up for expansion in the Philippines following a number of its popular Video Bingos have been certified for the iGaming market.

Patagonia’s in-house creative studio produces the best Video Bingo titles in the market. These have a fast-learning curve and perform equally well with players looking for some light entertainment and more adventurous high rollers. These games are particularly popular in the LATAM and Asian markets where Bingo has a strong historical and cultural presence. Each game is developed in HTML5 to enable players to access content from any mobile device.

Patagonia Entertainment’s Global Business Development Manager Victor Arias said: “The Philippines is an exciting opportunity for Patagonia as it represents a huge growth area for the business. Video Bingos are very popular in the region and the games will be a major asset for any iGaming companies expanding into this territory.”

 

About Patagonia Entertainment:

Patagonia Entertainment is a Video Bingo game development company known for creating innovative solutions for the e-gaming industry. Video Bingo is a hybrid between Bingo and Slot games. The company has managed to become one of the most popular game developers in the Latin American market and are rapidly growing into other markets. More information about Patagonia Entertainment can be found at www.patagonia-e.com.

 

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