Compliance Updates
Pinnacle re-launches in Sweden as fully licensed operator
Pinnacle has re-opened its Swedish site after a two-year absence in which it applied for a licence under the new regulatory regime.
The company received approval from the Swedish regulator in December 2019 but has waited for the right moment to launch. When Swedish football, the Allsvenskan, was given the green light to start this weekend, Pinnacle decided to open its doors once more with a full array of markets in time for the new season.
Pinnacle will offer a wide-range of sports and eSports betting in Sweden, covering all major sports and including Allsvenskan Women. Pinnacle is already a market leader in eSports betting and with Sweden being one of the biggest eSports markets in the world, there is significant room for growth. Before leaving the market in 2018 Pinnacle saw consistent double-digit annual growth in eSports betting in Sweden.
Pinnacle will bring its well-known high-volume, low-margin model to Swedes betting online. With an average margin of just 3.7% compared to an industry average of 7.2%, Pinnacle offers some of the best value and fairest pricing available. The company operates a responsible, fair and transparent model for customers, which is evidenced by the fact that the business has been granted a licence to operate in Sweden, which has one of the most stringent regulatory regimes globally.
Paris Smith, CEO of Pinnacle, said: âThis re-launch is a proud moment as Sweden is a key market for us, with many loyal customers having used Pinnacle over many years. The Swedish regulator is one of the most respected in the world and we are proud to meet the incredibly high standards they require to be recognised as a licensed operator. We believe that satisfying the requirements in Sweden means we can do it anywhere.
âWe left the market on good terms and are returning as a fully licensed, regulated operator. We fully embrace the Swedish regulations and wanted to do things in the right way. Having done so, we now see this as an opportunity to contribute to a serious gaming environment in Sweden long-term and to be a key part in the development of the market.â
Pinnacle believes the long-term economic impact of a well-regulated online betting regime in Sweden could be notable, with a significant increase in the volume of bets in the coming years.
Compliance Updates
Aviatrix flying in Italy following certificate approval
Aviatrix, the groundbreaking crash game renowned for its unique engagement mechanics, is building new partnerships in Italy following the granting of a certificate in the country.
The Italian certificate enables Aviatrix to collaborate with operators regulated by the Agenzia delle Dogane e dei Monopoli, introducing casinos fans in Italy to the award-winning game for the first time.
Players at many of the biggest brands in Italy will soon be enjoying Aviatrix.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: âWe are excited to be bringing Aviatrix to players in Italy for the first time. This is a market where innovation and player engagement are highly valued, so weâre certain our product will be a great fit. And more than that, we have an opportunity to play a central role in one of Europeâs most vibrant online gaming cultures. We canât wait to get started with operators in the country.â
Aviatrix is fast establishing itself as an important game in regulated jurisdictions, as it already is in emerging ones.
Australia
NSW Govt Appoints New Board Members to ILGA
The NSW Government has made appointments to the board of the Independent Liquor and Gaming Authority (ILGA), including a deputy chairperson and two new members.
Associate Professor Amelia Thorpe and Nicholas Nichles have been appointed following a rigorous public expression of interest selection process. Additionally, existing member Chris Honey has been appointed deputy chairperson.
ILGA is a statutory decision-maker responsible for a range of liquor, registered club and gaming machine regulatory functions including determining licensing and disciplinary matters.
The appointments follow the end of the term of appointment for outgoing deputy chairperson Sarah Dinning, and also fill vacancies that existed on the board.
Mr Honey, who was appointed a member of ILGA earlier in 2024, has been named deputy chairperson until the end of his current appointment term (11 February 2027).
Mr Honey has extensive experience in the advisory and restructuring field, including working extensively in highly regulated sectors.
Associate Professor Thorpe and Mr Nichles have both been appointed for four years commencing 6 November 2024.
Associate Prof Thorpe is with the Faculty of Law & Justice at the University of New South Wales and an Acting Commissioner of the NSW Land and Environment Court.
Mr Nichles was previously a Consul General and Senior Trade and Investment Commissioner for Australian Government agency Austrade, based in the US.
The new appointments bring the ILGA board membership to seven. The new appointments will join chairperson Caroline Lamb, new deputy chairperson Mr Honey and current members Cathie Armour, Jeffrey Loy APM and Dr Suzanne Craig.
Compliance Updates
Irelandâs New Gambling Regulator to Begin Work on Phased Basis Next Year
Irelandâs new gambling regulator is likely to begin overseeing betting businesses in the Republic midway through next year, industry figures predict.
President Micheal D Higgins recently signed the new Gambling Regulation Act, which overhauls licensing and creates a new authority to govern betting firms, into law. Industry figures forecast that the new regime should begin operating midway through next year, a key point for many businesses as they will have to renew online betting licences by that time.
Government also has to pass several milestones before the new Gambling Regulatory Authority of Ireland can start functioning, including appointing the seven people the body requires.
Minister for Justice Helen McEntee appointed senior civil servant Anne Marie Caulfield as chief executive designate of the authority in summer 2022. Her office has 11 staff. According to the Department of Justice, the Stateâs Public Appointments Service will shortly begin recruiting the authorityâs seven members.
The Minister will appoint the candidates the service recommends.
The department could not say when the authority would start regulating but noted this would happen in a phased âtimely mannerâ after its establishment.
Jack Chambers, Minister for Finance, earmarked âŹ9.1 million for the authority next year in this monthâs budget. That includes âŹ4 million for technology.
Ms Caulfield wrote to industry organisations last week confirming that her organisation would begin its work on a âphased basisâ but pointing out that it has already completed many preparations. In a statement she said that the authority was committed to keeping the industry fully informed so businesses can âplan for the new regulatory regimeâ.
Meanwhile, the Public Service Appointments Service last week advertised for someone to head the authorityâs social fund. Under the new lawâs provisions, betting businesses will contribute to this fund which the authority will use to tackle problem gambling.
Betting businesses regard the fundâs establishment as one of the key steps towards establishing the new regime.
Alongside that, they say that the authority will also have to set up its new licensing system. The law demands that all gambling businesses operating in the Republic be licensed and makes it a criminal offence to operate without a proper permit.
Lawyers at Arthur Cox recently noted that current permits are preserved until licensing sections of the act come into force. Existing high street and online bookiesâ licences will have a run-off period, but lawyers said that how this would work in practice depended on how the regulator developed the new system.
Betting businesses are keen that the authority works on a national self-exclusion register for customers who voluntarily ask bookmakers not to take their bets. Currently, most individual bookies have systems where customers who fear they have a problem, or are at risk, can exclude themselves in this way.
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