Compliance Updates
Norway warns six Malta-based gambling companies
Norway has warned six Malta-based online gambling companies for illegally targeting Norwegian players. According to news reports, the Norwegian government also blocked the transactions of these companies. As per the existing law in Norway, only two state-run companies – Norsk Tipping, which operates sports betting and casino games, and Norsk Rikstoto, which provides race betting services – can provide gambling services in the country.
But it is known truth that gambling websites located and licensed in other countries are offering their services in the country. Norwegian legislators are trying to remove such unlicensed operations for years, but their efforts have seen almost no success.
The Norwegian Gaming Authority (Lotteri-og stiftelsestilsynet) has ordered local banks to block all payments to and from accounts that have been discovered to be used for processing gambling-related transactions.
It has also emerged that the regulator sent last November warning letters to four Malta-based gambling companies, urging them to stop targeting Norwegian players. The four companies were Betsson Group, Co-Gaming Ltd. (a subsidiary of Swedish gambling group Cherry AB), L&L Europe Players Ltd, and Gaming Innovation Group. Kindred Group and Lucky Dino Gaming Ltd. received similar warning letters earlier this month.
A spokesperson for the Gaming Authority said that all six operators were found to have been marketing their operations and servicing Norwegian customers without being permitted to do so. The spokesperson also pointed out that the letters were sent both to the companies and the Malta Gaming Authority, from which all six operators hold licenses for the provision of online gambling services.
Balkans
Expanse Studios Launches in Bulgaria with Inbet
Expanse Studios, a leader in online gaming innovation, has secured a Bulgarian iGaming license and is now live on Inbet’s website. This expansion brings Expanse Studios’ popular game offerings including turn-based strategies gamified for iGaming, classic slots, traditional card games and the highly-acclaimed ones like Titan Roulette, Clown Fever Deluxe, Wild Icy Fruits, White Wild Whale and Joker Poker to Bulgarian players.
Diverse Gaming Portfolio Now Available to Bulgarian Players
With the Bulgarian market entry, Expanse Studios introduces a versatile gaming experience to Inbet’s platform. The offerings include a dynamic range of games tailored to diverse player preferences:
- Turn-based strategy games: Leveraging gamification, these games transform traditional strategy gameplay into engaging iGaming experiences, suitable for both novice and experienced players.
- Classic slots: Players will enjoy a variety of themed slots that combine traditional gameplay with modern graphics and sound.
- Traditional card games: A selection of popular card games offer something for every card game enthusiast.
- Titan Roulette: This standout feature, known for its immersive experience and innovative design, continues to be a favorite among roulette players.
Commitment to Quality and Compliance
Expanse Studios not only cultivates a diverse gaming library but also adheres to stringent regulatory standards to ensure a secure and fair gaming environment. The acquisition of the Bulgarian iGaming license is a testament to Expanse Studios’ commitment to compliance and excellence in the gaming industry.
The partnership between Expanse Studios and Inbet marks a significant milestone in Expanse Studios’ expansion efforts. By combining Expanse Studios’ innovative gaming solutions with Inbet’s established market presence, both entities are set to offer a superior gaming experience to players in Bulgaria and potentially beyond. As Expanse Studios continues to develop and release new games monthly, Bulgarian players can look forward to a continually evolving and enriching gaming landscape.
Compliance Updates
EGBA Welcomes European Parliament’s Approval Of New EU Anti-Money Laundering Framework
The EU’s new anti-money laundering package aims to create a more consistent regulatory framework and will benefit online gambling operators by standardising AML rules and reporting requirements across member states.
Brussels, 24 April 2024 – The European Parliament has approved the EU’s new anti-money laundering (AML) package at its plenary sitting today, marking a significant milestone towards a new EU framework for combatting financial crime. The European Gaming and Betting Association (EGBA), representing Europe’s leading online gambling operators, welcomes the Parliament’s approval of the new AML package and believes the incoming rule changes will strengthen the EU’s approach to tackling money laundering.
The new package will contain:
- A single rulebook regulation – with provisions on conducting due diligence on customers, transparency of beneficial owners and the use of crypto-assets.
- The 6th Anti-Money Laundering Directive – containing national provisions on supervision and national AML authorities, as well as on the access of authorities to necessary and reliable information, e.g. beneficial ownership registers.
- The establishment of the European Anti-Money Laundering Authority (AMLA) – which have supervisory and investigative powers to ensure compliance with AML requirements, operating in conjunction with national AML authorities.
EGBA believes the new rules will benefit Europe’s online gambling operators by ensuring a consistent regulatory approach across EU member states. Another important feature, under the competence of AMLA, will be the creation of a harmonised reporting format for Suspicious Transaction Reports (STRs). This will ensure that Europe’s online gambling operators encounter the same STR requirements across all EU member states, thereby setting clear and consistent expectations that will reduce administrative burdens and costs.
To assist online gambling operators in complying with the EU’s new AML rules, EGBA has developed industry-specific guidelines on anti-money laundering which apply a risk-based approach and include practical measures that operators can take – on customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, and record keeping. EGBA members already apply the guidelines and submit annual reports to EGBA that summarise their progress in implementing its measures. The guidelines are also open to all operators based in the EU and EGBA encourages operators to sign up to them.
The AML package now awaits formal adoption by the Council of the EU, expected in May, before being published in the EU’s Official Journal.
“We welcome the European Parliament’s approval of the new anti-money laundering package. The new framework will set high standards and ensure greater consistency in the application of AML rules across the EU. Online gambling operators, especially those operating in multiple countries, will benefit from a single rulebook and harmonised reporting requirements that will unravel national complexities. We will look to review our industry guidelines on AML to ensure their alignment with the new EU rules. By signing up to the guidelines, operators can already prepare themselves for the incoming changes in the EU rules and join our members in their efforts to proactively and positively contribute to the EU’s fight against money laundering.” – Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs, EGBA.
Source: EGBA
Australia
Crown Reinstated at Sydney Casino
The NSW Independent Casino Commission has found Crown Sydney suitable to retain its casino licence after nearly three years of intensive remediation.
Chief Commissioner, Philip Crawford, said Crown has come a long way and must now demonstrate its long-term commitment to maintaining suitability.
“The NICC is confident the Crown we deemed suitable today has a strong model to keep operating into the future,” Mr Crawford said.
The NICC’s suitability assessment established that Crown Sydney has fundamentally reformed its business and is operating the casino within the objects of the Act, the requirements of the suitability deed, and in compliance with its regulatory obligations.
In addition to proving it can run the casino lawfully, Crown has remediated its business in other meaningful ways such as building a culture of transparency and accountability across its integrated resort.
“Hard work and transformation aside, the NICC has not forgotten the level of misconduct exposed in 2021 when Crown was found unsuitable,” said Mr Crawford.
“Crown Sydney has ongoing work to reach steady state and it must continue to lift standards and maintain its cultural transformation.
“There is and will always be room for improvement, but Crown is a changed business that is looking toward the future.
“Likewise, the NICC is a changed regulator with enhanced powers, a singular focus on casinos, and a mandate to address the risks of harm.
“This decision is a positive outcome for Crown Sydney, its staff, and the community – who can be sure the NICC will use all of its powers to keep the casino in check.”
In addition to the implementation of hundreds of new internal controls, the Bergin-based reforms have been reflected in a new licence and new regulatory agreement between Crown Sydney, the NSW Government and the NICC.
These agreements include updated settings, such as the removal of fetters to the NICC’s powers, as well as previous compensation trigger clauses that are no longer part of the casino legislation.
Mr Crawford said: “Crown cannot disregard the responsibility and privilege that comes with holding a casino licence. Crown Sydney’s ability to provide a destination hospitality and entertainment venue underpinned by the restricted gaming facility is contingent on its steadfast commitment to continuing suitability, accountability and compliance.”
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