Compliance Updates
Soft2Bet’s Frumzi gains MGA licence
Popular operator brand receives one of Europe’s most prestigious accreditations
Frumzi, the innovative casino brand launched by leading platform provider Soft2Bet, has been accredited with a certification from the Malta Gaming Authority (MGA).
The online casino’s newly acquired licence allows it to entertain players across MGA markets, offering an enthralling selection of slots, live casino games and world-class jackpot options appealing to a wide variety of audiences.
The site’s state-of-the-art Pay’n’Play registration option provides instant deposits and withdrawals via Trustly, in a cutting-edge functionality that significantly enhances the safety and convenience of the end-user.
Soft2Bet’s award-winning portfolio of more than 30 digital brands has continued to impress in recent months, integrating content from a raft of top suppliers as well as a range of innovative additions, including the travel-themed sportsbook Betinia.
Boris Chaikin, CEO at Soft2Bet, said: “We are thrilled to announce that Frumzi has become the latest world-class addition to our MGA-licensed operator portfolio, joining a hugely popular selection of premium quality brands.
“Recent weeks have demonstrated the strength of our compliance credentials, having netted a prestigious PCI DSS certification, and there will be plenty more to come throughout the rest of the year.”
Compliance Updates
BetComply, RiskCherry and White Coral team up to offer go-to-market service
Compliance consultancy BetComply, independent test lab RiskCherry and legal advisory White Coral have agreed a strategic alliance, meaning the trio can now offer a complete, go-to-market service to igaming suppliers looking to launch their products in new jurisdictions.
The new service was born out of direct feedback from games studios who were struggling with the need to engage multiple advisories and consultancies ahead of new market launches.
By combining forces, BetComply, RiskCherry and White Coral are together able to provide an efficient and seamless experience, as well as a unified conclusion to each project: the relevant licence or certification for the supplier.
BetComply will cover pre-compliance testing, understanding technical requirements and policy drafting; RiskCherry will handle testing, inspection and certification; and White Coral will provide legal coverage across software agreements, sales contracts and more.
Daniel Brookes, CEO at BetComply, said: “For too long, launching content in new markets was a fragmented and frustrating process for games studios. By teaming up with RiskCherry and White Coral, we’re able to eliminate the guesswork, opacity and many of the hidden costs. This isn’t just streamlining a process; we’re setting a new standard for the industry.”
Mihael Mladenov, COO at RiskCherry, said: “We’re really excited to work alongside BetComply and White Coral on this game-changing service. It brings together three of the most forward-thinking companies in their respective fields, and provides a one-stop-shop for games suppliers.”
Steven Matsell, Managing Partner and Founder at White Coral, said: “White Coral has always been focused on cutting through legal complexity, and alongside BetComply and RiskCherry, we’re now able to offer our services in a way that further simplifies the process for suppliers. This is a major win for any business wanting to complete agreements faster and more cost effectively.”
Compliance Updates
ITIA Bans Two Players for Corruption Linked to Belgian Syndicate
The International Tennis Integrity Agency (ITIA) has banned two tennis players for corruption linked to a syndicate in Belgium.
The ITIA has issued Alejandro Mendoza Crespo with the maximum penalty of a lifetime ban from tennis for 20 offences. Meanwhile, Jorge Panta Herreros has been suspended for three years for four infringements.
The sanctions were handed down by independent anti-corruption hearing officer Professor Richard McLaren. This came after a formal hearing in early March, with the suspensions effective from 4 April onwards.
Mendoza and Panta were also issued with fines of $250,000 (£199,619/€231,942) and $10,000 respectively. The pair will be banned from playing, coaching or attending any event sanctioned by ITIA members, including the ATP and WTA.
The ITIA is an independent body established by its tennis members to promote, encourage, enhance and safeguard the integrity of professional tennis worldwide.
Compliance Updates
BOS: “Of course the minister is right when stating that the state should not operate casinos”
The Swedish Trade Association for Online Gambling (BOS) expresses itself in an op-ed, published today in Sweden’s largest newspaper Aftonbladet, about financial market minister Niklas Wykman’s statement that “It should not be a politically ordered task for a state company to operate casinos”. The minister made the statement in an op-ed in Aftonbladet due to his announcement that the government intends to close Sweden’s last land-based casino, located in central Stockholm.
In a response from BOS, Secretary General Gustaf Hoffstedt welcomes the minister’s principled statement about the inappropriateness of running state casinos. Hoffstedt also reminds the minister that the state continues to do exactly that online and that the same principled stance should also apply online.
-We welcome this principled firm stance on the part of the minister and foresee that a winding down of the state as a commercial operator in the casino market can take place during the mandate period, which extends until 2026, says Gustaf Hoffstedt.
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