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Compliance Updates

GiG suspends sports betting on Rizk and Guts, challenging the Swedish regulator for clarification on the gambling law

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GiG suspends sports betting on Rizk and Guts, challenging the Swedish regulator for clarification on the gambling law
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Gaming Innovation Group Inc. (GiG) has proactively chosen to temporarily suspend its sportsbook on inhouse brands Rizk and Guts in Sweden pending clarification from the Swedish Gambling Authority (SGA) with respect to the interpretation of some elements of the Swedish gambling regulation. The sportsbook is only suspended in the Swedish market with its own brands, remaining live in other countries and will be open again in Sweden as soon as the necessary regulatory clarification is given. Any bets received but not yet settled will be honoured and therefore unaffected by this. The financial impact on GiG will be immaterial.

Robin Reed, CEO of GiG states: “We find ourselves in an impossible position due to the lack of clarity in the Swedish gambling regulation. We have to protect the Company and its shareholders from potential penalties from such vagueries. This action was taken because, ultimately, it is critically important for us to be compliant. So, we decided to temporarily suspend further bets until this can be clarified. We believe that the current rules for online sports betting are too open to interpretation, leaving uncertainty around whether an operator is in fact compliant or not. The recent fines issued by the Swedish regulator to GiG and multiple other peers demonstrate this overall uncertainty in the market. We encourage the SGA to amend the relevant rules so that they do not leave any room for misinterpretation and we would welcome the opportunity to collaborate on this. We have taken the lead on this and we also encourage the SGA to suspend all sportsbooks operating in Sweden until such clarification is provided.”

GiG intends to appeal its recent sanction by the Swedish regulator. The Company does not agree with the SGA’s assessment and conclusion and is seeking clarification.

 

 

About Gaming Innovation Group:

Gaming Innovation Group Inc. is a technology company providing 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 its ecosystem of products and services, it 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 in the Oslo Stock Exchange under the ticker symbol GiG. www.gig.com 

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Compliance Updates

IAGR confirms new Board members

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IAGR confirms new Board members
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The International Association of Gaming Regulators (IAGR) has announced the appointment of four new trustees to its Board, each bringing unique expertise and leadership to strengthen IAGR’s global regulatory efforts:

  • Anders Dorph, Danish Gambling Authority (Europe)
  • Peter Kesitilwe Emolemo, Gambling Authority of Botswana (Africa)
  • Kevin Mullally, General Commercial Gaming Regulatory Authority (Asia/Oceania)
  • Louis Rogacki, New Jersey Division of Gaming Enforcement (North America)

IAGR President Ben Haden said, ‘I’m delighted to welcome our four new trustees to the IAGR Board. Their diverse expertise and leadership across different jurisdictions will bring fresh perspectives to our work, further strengthening our global approach to gaming regulation.

‘I look forward to collaborating with Peter, Louis, Kevin and Anders as we continue to foster innovation and drive forward effective, responsible regulation for the benefit of the global gaming community.

‘We also extend a big thank you to Trude Høgseth Felde and Mabutho Zwane for their dedicated service as they complete their terms on the Board, and I’m pleased to announce that Jason Lane will continue for another term as a Trustee.’

As a leading forum for gaming regulators worldwide, IAGR enables members to meet, share information, discuss legislative developments, exchange views and learn best practices in gaming regulation.

In recent news, IAGR has also confirmed that its 2025 annual conference will be held in Toronto, Canada, from 20 to 23 October 2025, with registrations opening in early 2025.

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Compliance Updates

MGA Issues First ESG Code Approval Seals to Licensees

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The Malta Gaming Authority (MGA) has awarded its first-ever ESG (Environmental, Social and Governance) Code Approval Seals to licensees in the online gaming sector, marking a milestone in the Authority’s commitment to promoting responsible and sustainable industry practices.

This initiative follows the launch of the voluntary ESG Code of Good Practice last year, which invited licensees to submit their ESG disclosure returns. The Code, which covers 19 topics categorised under Environmental, Social and Governance pillars, offers a strategic roadmap for online gaming companies to streamline their reporting efforts.

Following the first annual reporting cycle, 14 gaming operators have been awarded the ESG Code Approval Seal. The Code supports two levels of reporting: Tier 1, which establishes foundational ESG standards, and Tier 2, which represents a more aspirational approach.

Seals are valid for one year, with flexibility for renewal in the subsequent reporting period, allowing operators to advance or adapt their reporting tier year by year.

“We believe this initiative will significantly enhance the industry’s reputation and sustainability credentials,” MGA CEO Charles Mizzi said.

“By integrating ESG considerations into their operations, gaming companies not only contribute to the wellbeing of society and the environment but also strengthen the trust and confidence that consumers, investors, and regulators have in the industry. This initiative sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the gaming sector.”

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Compliance Updates

Turkish Football Federation to Penalise Clubs Promoting Illegal Betting

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The Turkish Football Federation (TFF) has introduced new regulations to crack down on illegal betting advertisements in professional football.

According to the TFF, clubs found violating the new rules will face fines and, in case of repeated offenses, the deduction of points.

Under the updated guidelines, any club in the Turkish Super League involved in unauthorised betting promotions will face a tiered penalty system.

The first violation will result in a fine of 2 million Turkish Liras (around $58,000), and the second offense will incur a 5 million lira fine and a third violation will see the fine increased to 10 million liras. For subsequent breaches, clubs will be fined 10 million liras for each offense, along with a three-point deduction from their league standings.

“It is forbidden to promote or advertise betting organizations not licensed by competent authorities. This includes any media, billboards and other equipment used within stadium,” the TFF stated.

The TFF emphasised that the ban also applies to entities affiliated with these betting organisations, including those involved in promoting and advertising activities in a way that suggests endorsement of illegal betting.

The global scale of the illegal betting market is staggering, with the United Nations Office on Drugs and Crime estimating its worth at $1.8 trillion. In Türkiye alone, the sector is projected to exceed 100 billion liras, according to the Financial Crimes Investigation Board.

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