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Compliance Updates

UKGC Responds to Independent Inquiry into BetIndex

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romaniajournal.ro
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The UK Gambling Commission (UKGC) has announced that it will make changes to the way it regulates innovative digital gambling products.

The announcement follows publication of the Independent Review of the Regulation of BetIndex Limited. The Review highlighted areas where the approach of both the Commission and the Financial Conduct Authority (FCA) could be improved.

Andrew Rhodes, CEO of UKGC, said: “No amount of explanation of what happened to Football Index will take away the justifiable hurt and anger its customers are experiencing having lost, in some cases, life-changing amounts of money when the gambling company collapsed.

“We accept and agree that we should have drawn a line under our efforts sooner, but this does not mean those customers would not have lost money in the event of the BetIndex company collapsing. Throughout this case we sought the best outcome for consumers within the scope of our regulatory powers.

“The review provides a number of helpful recommendations for how both regulators can work better together and for how our regulatory approach deals with novel products.”

He continued: “In recent years we have seen an increase in the complexity of business models and product offerings. The lines between what is gambling and other types of products, such as financial services or computer games, has become increasingly blurred and no longer neatly fit into existing statutory definitions of gambling.

“We have already acted on a number of the recommendations in the report. This has included more explicitly including novel products as one of the factors we consider as part of our assessment of a gambling company’s risk. We have also further strengthened the Memorandum of Understanding we have with the FCA so that issues that blur the lines between financial services and gambling are escalated and actioned more rapidly.

“Our actions were always focused on trying to protect consumers while we sought to bring the operator into compliance with regulations. This does not mean however that those customers would not have lost money in the event of the BetIndex company collapsing.”

Compliance Updates

BGaming expands market via Greek licence

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BGaming expands market via Greek licence
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BGaming is delighted to announce that the studio has been granted a Type A1 Supplier Greek licence from the Hellenic Gaming Commission. It is a significant decision for BGaming allowing to boost its international reach and deliver its products to the Greek market under the new regulations.

Obtaining the Greek licence for BGaming means opening access for 70+ studio products, including hits such as Elvis Frog in Vegas, Fruit Million, Aloha King Elvis, and the Brand Exclusive titles to Greek operators and thousands of players.

Marina Ostrovtsova, Executive Director at BGaming, noted: “We’re delighted to be awarded a licence by the Hellenic Gaming Commission and be able to provide our content to this regulated market. It is a great step for the studio, and for sure BGaming will continue to ride for our regulatory market journey”.

Earlier this year, BGaming received a Critical Supply Licence from the Maltese Gaming Authority.

The studio has released more than ten new games over the past ten months, including the first BGaming cascade slot called Bonanza Billion. At the beginning of 2022, the provider will launch its first crash-style game, Space XY.

 

BGaming is a fast-growing game provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 550+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 70+ products with HD graphics and a clear user interface for every device.

 

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Compliance Updates

Push Gaming rolls out in Romania

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Push Gaming rolls out in Romania
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Push Gaming has launched its growing range of player-first games in Romania as the provider continues to grow its European footprint.

The announcement will see Push Gaming bring its award-winning games to the Romanian market, following its full certification to the standards set by Romania’s national regulator, the ONJN.

The highly respected accreditation and Push’s recent growth will allow it to partner with multiple leading operators as the supplier prepares to announce a series of multiple high-profile deals in the next few months.

Established as one of Europe’s most exciting tier-one game providers, Push’s content provision to new operators includes the SiGMA Europe Game of the Year, Jammin’ Jars 2, as well as winner at the CasinoBeats Developer Awards – Dinopolis, proving hugely popular with players with a one-of-a-kind dinosaur-based theme.

Led by Fiona Hickey, Head of Sales, the highly popular studio aims to continue its record-breaking 18 months of commercial success – with a mission to keep players at the heart of its highly engaging and immersive content.

Commenting on the supplier’s expansion plans, Fiona Hickey, Head of Sales at Push Gaming said: While already well-established in a relatively short space of time, the Romanian market has great potential to become even bigger and our innovative portfolio of games sets us up perfectly to make the most of the opportunity.

“These are exciting times for Push, we’re growing at a remarkable pace and with new key hires in place behind the scenes to support our accelerating expansion we’re in fantastic shape to make our mark in several new regions.”

The announcement comes on the back of a hugely successful year for Push Gaming, having picked up the Game of the Year crown at the 2021 SiGMA Europe Awards.

Established as one of the industry’s most entertaining suppliers, Push Gaming is live across the majority of Europe’s key regulated markets with the likes of Casumo, LeoVegas, Entain, The Rank Group, Betsson and PaddyPowerBetfair. Its growth roadmap is set to see entry into more global jurisdictions with further top-tier partners throughout 2022.

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Compliance Updates

UKGC: Regulatory action against Greentube Alderney Limited

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UKGC: Regulatory action against Greentube Alderney Limited
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An online gambling business must pay £685,000 after a Commission investigation revealed social responsibility and money laundering failures.

Greentube Alderney – which operates admiralcasino.co.uk and bellfruitcasino – will also undergo extensive independent auditing for the failures which occurred between December 2019 and November 2020.

The Commission investigation revealed that the operator failed to:

  • interact with customers in a way which minimises the risk of customers experiencing gambling harms
  • conduct adequate assessments of the risk of money laundering
  • have in place and implement appropriate policies, procedures and controls to prevent money laundering
  • to alert the Commission to an event that could have a significant impact on the nature or structure of a licensee’s business

Helen Venn, Commission Executive Director, said: “Compliance with Commission rules aimed at keeping people safe and gambling crime free is not optional. We will always take firm action against those operators who fail to meet the high standards we expect for consumers in Britain.”

A public statement reveals more details of the failings.

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