Compliance Updates

GVC Secures Gaming License in Nevada

Published

3 weeks ago

May 27, 2019

Reading Time: 1 minute

GVC has secured gaming license in Nevada through a partnership with MGM Resorts International. The license approval came with an important condition attached to it. GVC will have to return to Nevada’s regulator after two years and brief its four members on how it has re-assessed its operations. The condition had to do with GVC and Ladbrokes Coral’s presence in Turkey, a jurisdiction where gambling is illegal.

Last year, GVC acquired major British bookmaker Ladbrokes Coral in a £3-billion-plus deal that created one of the world’s largest gambling powerhouses.

GVC have to contribute $100,000 to the Nevada Gaming Control Board for future compliance investigations. The company’s Chairman Lee Feldman told gaming commissioners that they are committed to legal and regulatory compliance and that they have adopted the necessary approach to secure that they are compliant in all jurisdictions they do or do not operate.

Up Next

Bet365 to Expand its Operations in Malta

Don't Miss

Authorities to Crack Down on Illegal Gambling Ads in Finland

Niji Narayan

Niji Narayan 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. He reports gaming industry headlines from all around the globe.

Comments

Compliance Updates

MGA Cancels the Gaming Licence of ASAP Italia SRL

Published

3 hours ago

June 19, 2019

Niji Narayan

MGA Cancels the Gaming Licence of ASAP Italia SRL

Reading Time: 1 minute

The Malta Gaming Authority has cancelled the gaming licence of ASAP Italia SRL. ASAP Italia SRL has thus been directed to proceed with the cancellation process of the authorisation, and to suspend all gaming operations with immediate effect.

In addition, a notice on the Authorised Person’s website is to be displayed informing all players that the Authorisation has been cancelled.

Due to the cancellation of the licence, ASAP Italia SRL is, therefore, not authorised to continue conducting gaming by means of distance communications under an Authority licence.

Compliance Updates

Global Gaming to Appeal Swedish License Revocation

Published

4 hours ago

June 19, 2019

Niji Narayan

Global Gaming to Appeal Swedish License Revocation

Reading Time: 1 minute

Global Gaming is going to appeal Spelinspektionen’s decision to revoke its license in Sweden.

The Swedish gambling regulator has revoked the license of Global Gaming’s subsidiary SafeEnt Ltd, after conducting a thorough review of its operations in Sweden. The regulator’s review detected “serious deficiencies” in its anti-money laundering, know your customer, and social responsibility policies. The company was also found to have breached Sweden’s rules for bonus offers.

Tobias Fagerlund, the acting CEO of Global Gaming 555 AB, said that Spelinspektionen’s decision was odd as his company and its legal advisers were under impression that all obligations it had as a licensee were complied with.

The gaming authority said in a statement that SafeEnt lacked effective anti-money laundering and terrorist financing tools and that the review conducted showed “serious and systematic shortcomings” in the operator’s risk assessment and KYC.

Australia

Have Your Say On NSW Gaming Machine And Casino Regulations

Published

7 hours ago

June 19, 2019

George Miller

Have Your Say On NSW Gaming Machine And Casino Regulations

Photo Source: abc.net.au

Reading Time: 1 minute

The NSW Government is inviting community and industry feedback on a number of minor administrative changes being proposed as part of a mandatory remake of the Gaming Machines Regulation 2010 and Casino Control Regulation 2009, which are due to expire on 1 September.

The proposals seek to align the regulations with modern practice by updating descriptions of compliance processes and general terminology.

There are also plans to update harm minimisation measures to help prevent and reduce gambling harms.

Casinos and venues with gaming machines need clear and effective regulations to ensure they operate with the highest standards of integrity and compliance, and practise responsible conduct of gambling.

The proposed regulations and Regulatory Impact Statements explaining their effects, costs and benefits are available on the Liquor & Gaming NSW website.

Feedback is welcome and will be considered before the proposed regulations are finalised.

Submissions close on Wednesday 17 July. To find out more about the proposed regulations and how to submit your feedback, visit https://www.liquorandgaming.nsw.gov.au/community-and-stakeholders/have-your-say/community-consultations/current-consultations