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Compliance Updates

Sorare to Be Investigated Because of Unlicensed Gambling Platform

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Sorare to Be Investigated Because of Unlicensed Gambling Platform
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As a result of an unlicensed gambling platform, Sorare will be investigated.

Sorare is currently under investigation by the UK Gambling Commission because it does not have a gambling license to operate in the country. The Gambling Commission will look into whether Sorare needs a gambling license and whether the business is legal or not.

The Gambling Commission believes that Sorare may be operating outside of the required regulations, and as a result, they advise players to take this announcement into account when deciding whether or not to use the site and the gambling.

Furthermore, no more information will be released until after the investigation has been completed in its entirety. Aside from being an online gambling platform, Sorare is a step away from being one. The commission must verify that Sorare complies with all relevant regulations.

A Reaction from Sorare to the Situation: When Sorare was confronted with the allegations, they decided to come clean right away and claim that they don’t engage in any illegal gambling. Upon speaking with their legal team, it has been determined that this cannot be considered online gambling.

They claim that the platform is working on it and that the commission doesn’t think of them as “gambling” because they aren’t in the same category as gambling in general.

Any and all authorities and regulators should be aware that they are welcome to take part in an open discussion on this subject. The subject of the game’s operation and everything that surrounds it can also be discussed. Regulators’ interest in their technology is therefore not a surprise to Sorare.

 

Source: Audrey Peters’, ‘’Sorare Will Be Under Investigation Because of Unlicensed Gambling Platform’, ‘’casinovator.com’’, October 12, accessed October 12, 2021

 

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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