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Compliance Updates

OKTO.WALLET Gets Approval in Spain in Association with Jackpot Systems

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OKTO.WALLET Gets Approval in Spain in Association with Jackpot Systems
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OKTO, a Greece-based fintech company, has joined hands with gambling technology and hardware provider Jackpot Systems to launch its OKTO.WALLET in Spain. The seamless and secure mobile wallet will now be available on all gaming machines linked with Jackpot’s Casino Management System (CMS).

The wallet will first make its entry in Murcia and Galicia, where players can first hand experience the fast and easy transaction service.

Nacho Frade,OKTO’s  Country Manager of Spain, said:

“We are extremely proud to be now ready to offer our powerful cashless solution on gaming machines in Spain, one of the biggest regulated markets in Europe.

Our partnership with Jackpot System is entirely aligned with our operators’ quest for digitalization, and we are now able to help them with the transition to cashless operations. The driver is always the same – the ability to provide safe, socially responsible and fast transactions to their users, but also to attract younger demographics, reduce cost and risk of cash, and that is what we can now deliver.”

Alejandro Jimenez, CEO at Jackpot Systems, added:

“These approvals validate and authorize, for the first time in land-based gaming in Spain, a digital system without cash and without any other physical support than the user’s mobile phone, and this is a great achievement in the sector that makes all of us who have been proud endeavoured to achieve it.

Galicia and Murcia are the first communities to benefit from this solution, but the others will soon arrive and it can be used in the rest of Spain. With this, we enrich our already powerful management and control system and advance in the complete digitization of gaming companies, which are the great beneficiaries of these technological advances.”

Compliance Updates

Lady Luck Games awarded multiple market certification

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Games from Swedish slots specialist Lady Luck Games have been certified in five of Europe’s most important regulated markets.

Players favourites like Valhöll: Hall of the Slain, Valley of the Muses and Alchemister will join new release Rooftop Fight on the roster of online casinos in Sweden, Denmark, Germany, Italy and the Netherlands.

The certification, via iTech Labs, will now allow their high-quality artwork and engaging maths models to be enjoyed by millions of new customers at some of the industry’s leading operators.

Lady Luck Games co-founder and CEO Mads Jorgensen said the regulatory approval would provide a significant commercial boost to the studio in its quest for international expansion.

He added: “We are very confident that our games portfolio has universal appeal and having this certification is an important step in proving that. Access to market is hugely important for any company in any industry and we now have a real opportunity to take great strides as a business.”

Lady Luck Games recent acquired fellow provider Spigo ApS’s operations in Denmark, including the studio’s casino games, eight customer integrations and Spigo Station, the supplier’s Denmark-certified platform.

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Compliance Updates

UKGC Receives Four Applications for National Lottery Licence

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The UK Gambling Commission (UKGC) has received four final applications for the Fourth National Lottery licence competition.

The competition for the fourth licence was launched in August 2020 and now moves into the final stage with four applicants submitting their applications for final evaluation. This is the highest number of final applications received since the first licence was awarded in 1994.

“We are delighted by the final number of applications we have received, which is unprecedented since the start of the National Lottery. The Commission will now evaluate these applications in a clear and robust process. Our job is to run the best competition we possibly can – one that is open and fair and results in the best outcome for players and good causes. We look forward to appointing a licensee that will build on the National Lottery’s legacy and maximise the opportunities for innovation and creativity whilst protecting the special status of the National Lottery,” Fourth National Lottery Licence Competition (4NLC) executive director John Tanner said.

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Compliance Updates

MGA | Updates to the Gaming Authorisations and Compliance Directive & Key Function Eligibility Criteria Policy

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MGA | Updates to the Gaming Authorisations and Compliance Directive & Key Function Eligibility Criteria Policy
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The Malta Gaming Authority is hereby publishing a series of amendments to the Gaming Authorisations and Compliance Directive (Directive 3 of 2018). The amendments mainly relate to the following:

  • The overall number of key function roles and their underlying responsibilities;
  • The deadlines by when certain key function requirements are to be observed;
  • The persons who shall shoulder responsibility in the absence of duly appointed key function holders;
  • The manner and form in which declarations and assurances are to be made by auditors on behalf of licensees during submission of audited financial statements; and
  • The applicability of suspicious betting reporting requirements.

These amendments are being published together with a Policy on the Eligibility and Ongoing Competency Criteria for Key Persons. This Policy is intended to revise and collate the existing eligibility criteria while also introducing authorisation renewal requirements related to continuous professional development for existing key persons. Moreover, the Policy clarifies the MGA’s position regarding the compatibility of key function roles with each other in light of the amendments to the Directive.

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