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Compliance Updates

Switzerland to Block Foreign-based Gambling Sites

Niji Narayan

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Switzerland to Block Foreign-based Gambling Sites
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Switzerland is going to block foreign-based companies from the Swiss market.

The federal commissions in charge of gambling, lotteries and betting said that they will soon publish a “blacklist” of online gambling sites that would be blocked as of July 1.

The new move will allow only casinos and gaming companies certified in Switzerland to operate in the country, including on the internet. The law will meanwhile for the first time enable Swiss companies to offer online gambling.

The law is meant to help combat gambling addiction, which according to Addiction Switzerland afflicts nearly 75,000 people in the small Alpine nation, costing society more than half a billion Swiss francs annually.

The law will enable Switzerland to tax revenues from online gambling activities, with the proceeds set to help fund anti-addiction measures.

As per the government, Swiss gamblers spend around 250 million Swiss francs annually on unregulated betting sites abroad that pay nothing into public coffers.

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.

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Compliance Updates

TOM HORN GAMING Content Available In Portugal

Zoltan Tundik

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The award-winning, Malta-based outfit is set to expand its business reach into the regulated Portuguese market after the supplier has secured a certification to supply its content to operators in this jurisdiction.

The supplier’s Portuguese offering includes its highly popular titles such as 243 Crystal Fruits, Frozen Queen, or one of the latest additions Sherlock. A Scandal in Bohemia among many others. Tom Horn Gaming will now be able to work with both its existing and new customers who are licensed in Portugal.

Ondrej Lapides, CEO at Tom Horn Gaming commented on yet another milestone in the company’s growth strategy: ‘We have been massively pushing into new regulated markets worldwide and the Portuguese certification ticks yet another box to set our foot firmly in a market with huge business potential. We want as many people as possible to enjoy our games and we look forward to exploring more new ground in Portugal going forward.’

Currently, Tom Horn is compliant to supply its gaming products to operators in the UK, Lithuania, Alderney, Serbia, Belgium, Gibraltar, Latvia, Estonia, Malta, with a multiple new jurisdictions to follow suit.

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Compliance Updates

Missouri Gaming Commission Considers Gaming Terminals as Illegal

Niji Narayan

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Missouri Gaming Commission Considers Gaming Terminals as Illegal
Photo Source: bmmagazine.co.uk
Reading Time: 1 minute

 

The Missouri Gaming Commission has deemed the gaming terminals illegal to slow the rapid-fire spread of untaxed and unregulated slot machines in Missouri.

The lead attorney for the Missouri Gaming Commission ruled that the terminals contain functions that make them “gambling devices,” which are prohibited outside of licensed casinos.

The ruling came in response to a question by the St. James Veterans of Foreign Wars Post 5608, which asked if having one of the terminals in their facility would jeopardise the organisation’s state-issued bingo license.

After testing the machine, the gaming commission said it would.

Although the gaming commission’s findings only apply to establishments that have bingo licenses, the decision comes as state and county officials are investigating what to do about the machines.

The terminals work like slot machines. A player inserts money, selects a game and decides how much to wager. Players who win money can cash out and get paid by the store cashier.

May Scheve Reardon, executive director of the Missouri Lottery told that she fears the terminals could divert money from the lottery’s games, which generate money for public schools.

Senate President Dave Schatz, R-Sullivan, also has pushed for legislation that would prohibit the machines and strip businesses of their liquor licenses if the terminals are present.

Dave Grothaus, executive director of the Gaming Commission said there have been discussions about whether state officials, like the commission, could use their licensing powers to strip businesses of their ability to sell lottery tickets or alcohol if they have the slot machines on their premises.

“Certainly that would be an administrative tool that the state could use to address the problem,” Grothaus said.

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Canada

Canada Amends the Criminal Code Offence of Money Laundering

Niji Narayan

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Canada Amends the Criminal Code Offence of Money Laundering
Photo Source: theguardian.pe.ca
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The Government of Canada has amended the Criminal Code offence of money laundering. The regulation changes criminalise moving money on behalf of someone despite money laundering suspicions.

“This change modernises Canada’s money laundering criminal offences to be consistent with key allies (e.g. U.K. and Australia) and provides an additional tool to disrupt and more effectively investigate and prosecute money laundering, particularly when dealing with sophisticated actors such as professional launderers,” Finance Department spokesman Greg Sommerville said.

Canada also considers other recommendations produced in the past 18 months. 120 recommendations were filed, but only 19 have been approved so far.

“Canada has fallen so far behind for so many years, we’re playing catch-up,” James Cohen, executive director of Transparency International Canada said.

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