Compliance Updates

Kester Capital backs management buy-out of ComplianceOnline

Published

5 years ago

August 2, 2019

Reading Time: 2 minutes

ComplianceOnline, a leading provider of global regulatory intelligence to the gambling and payment sectors, has been acquired in a management buy-out, backed by the primary buyout specialist Kester Capital (“Kester”).

The investment comes at a time of significant momentum for Kester, which recently expanded its investment team and completed its third portfolio bolt-on acquisition in twelve months.

Through its Gambling Compliance, Payments Compliance and RegData products, ComplianceOnline enables compliance and legal teams around the world to manage risk confidently and discover new market opportunities by providing in-depth insight, analysis, commentary and research. As the volume and pace of regulation increases globally, ComplianceOnline is well positioned to take advantage of this growing market. Since inception in 2007, the Company has been at the forefront of the gambling regulatory landscape, growing its subscription-based information services at an exceptional rate, and, in 2015, launched a similar offering for the payments industry. This new deal with Kester Capital means that ComplianceOnline is able to fuel its ambitious growth plans, continuing to help industry professionals make timely and informed strategic business decisions.

Following the acquisition, founder David Morgan will step down. Mike Woolfrey, who has been CEO since 2018, will continue to lead the business. Prior to joining ComplianceOnline, Mike held numerous senior executive roles within B2B media and information services.

Mike Woolfrey, CEO, ComplianceOnline, said: “This deal is an important and significant milestone for ComplianceOnline, and we are delighted to be partnering with Kester Capital. We have huge potential for growth, and I am looking forward to leading the organisation as we move into this next phase”.

David Morgan, owner and outgoing Executive Chair, said: “I have been proud to have led ComplianceOnline to this point and am delighted to be handing over to Mike. His experience and expertise will take ComplianceOnline to the next chapter of growth.”

Adam Maidment, Managing Partner of Kester Capital, said: “We are delighted to be investing in ComplianceOnline and look forward to partnering with Mike and the management team. Its ambition, management talent and potential for continued strong growth make ComplianceOnline a great example of the type of business that we are looking to back with first time institutional capital and support.”

Kester Capital is a primary buy-out specialist, led by an entrepreneurial and experienced team, and focused on UK businesses that require capital in order to unlock their potential.

For more information, visit www.complianceonline.media

Compliance Updates

IAGR confirms new Board members

Published

3 days ago

November 14, 2024

George Miller

Reading Time: < 1 minute

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.

Compliance Updates

MGA Issues First ESG Code Approval Seals to Licensees

Published

6 days ago

November 11, 2024

Niji Narayan

Reading Time: < 1 minute

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.”

Compliance Updates

Turkish Football Federation to Penalise Clubs Promoting Illegal Betting

Published

6 days ago

November 11, 2024

Niji Narayan

Reading Time: < 1 minute

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.