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Compliance Updates

LEC Introduces Sporting Financial Regulations

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To support the long-term financial stability and competitive balance of the LEC, the league is going to introduce new financial regulations – known as Sporting Financial Regulations (SFR) – for the start of the 2024 LoL Esports Season.

The LEC SFR will encourage teams to maintain the total sum of its five highest-paid player salaries below a certain threshold, with teams exceeding the threshold having to pay an excess fee (SFR Fee).

In doing so, the LEC seeks to create a financially sustainable environment for its pro players, partnered teams, and the league itself, allowing all parties to grow at a healthy and scalable pace, and protect the ecosystem from unsustainable spending practices. In addition, the framework will support the league by creating a better competitive balance and more engaging competition, further enhancing the experience for players and fans.

“In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole. The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come,” said Maximilian Peter Schmidt, Director of League of Legends Esports EMEA.

SFR will encourage each team to maintain the total sum of salaries (known as SFR Spend) paid to the top five highest-paid players in a team within a certain range. The range includes both an upper spending threshold (SFR Threshold) and a lower spending threshold (SFR Floor), with the lower spending threshold amounting to 50% of the SFR Threshold. Meanwhile, the SFR Threshold is calculated based on a number of considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee.

An exception will be made to teams if a player enters into a contract with the team either during or before the end of the 2023 LEC Season Finals. In this instance, the SFR Spend will be reduced by one-fifth of the SFR Threshold or the actual salary amount; whichever is lower.

The policy will be introduced starting from the 2024 LEC Global Contract Start Date (21 November 2023), with the first cycle running until the 2024 LEC Global Contract End Date (18 November 2024).

Compliance Updates

Jelly Entertainment Awarded Game Host Licence by Gambling Commission and Recognition Notice by MGA

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Jelly Entertainment has received regulatory approval for its proprietary platform from both the Gambling Commission and the Malta Gaming Authority (MGA).

With a Game Host licence in the UK and a Recognition Notice in Malta, the supplier will now have full control of its proprietary technology development and delivery schedule.

These licences pave the way for fostering innovation in platform features and new in-game mechanics as well as bolstering tailored support for operators. It additionally ensures system reliability and security as the business transitions to the next stage in its journey.

Its platform and game content is already certified in accordance with the technical requirements of the Gambling Commission and MGA, and also supports the regulatory requirements of regulators in Sweden, Denmark, Italy and Portugal, as well as multiple other markets.

Having already forged a reputation for successful gaming content, its soon-to-launch titles include CleoPatrick, Midas Riches and Wicked Riches of Oz. Operating since 2020, Jelly is driven to create immersive, supercharged, omni-channel entertainment. In this way it can reach players wherever they are, whenever they want to play, and in any channel they choose – casino, retail or digital. Its manifesto is built on its restless spirit of entrepreneurship; a strategy to differentiate its slot design and delivery by adopting a balanced mix of evolution and revolution.

David Newstead, CEO at Jelly, said: “We are really pleased to see our efforts recognised by another leading authority, and our Notice of Recognition by the MGA is an exciting step forward as we continue to propel ourselves from challenger brand to the ranks of full-service B2B supplier.

Our thanks to the Gambling Commission and Malta Gaming Authority for helping us to achieve another important step on our journey, and we’re looking forward to seeing our titles land in a number of lobbies across Europe and beyond soon.”

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Compliance Updates

Videoslots awarded Swedish licence extension

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Videoslots awarded Swedish licence extension
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Leading operator granted five-year renewal from SGA

The Swedish Gambling Authority (SGA) has awarded a five-year renewal to Videoslots for its licence.

Valid until the end of 2028, the renewal is the maximum possible extension that the SGA can give to operators.

Videoslots has operated in Sweden since the first day the regulated market opened in 2019 with the flagship brand of the group, and most recently alongside its rising star Mr Vegas.

This news confirms Videoslots’ footprint within Europe and the Nordics, following a successful 2023, which saw the release of its 10,000th slot and the launch in Ontario.

Ulle Skottling, Deputy CEO at Videoslots said the news strengthened the company’s position and validated its player-centric approach.

He added: “We remain strong in business and compliance, and we welcome the SGA’s recognition and ongoing confidence in our practices. The decision supports our plans for 2024.”

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PopOK Gaming games are now certified for Lithuania

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PopOK Gaming games are now certified for Lithuania
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18 PopOK Gaming slots are now ready to be enjoyed in Lithuania.

Renowned for crafting top-tier slot games, PopOK Gaming celebrates the certification of 18 of its games alongside the validation of its 4-level progressive jackpot, meeting the regulations set forth by the Lithuania iGaming jurisdiction.

The acquisition of this certification marks a significant milestone for PopOK Gaming, expanding their game distribution across the Lithuanian region while solidifying their position in the regulated market. This breakthrough represents a pivotal step towards offering players top-notch gaming experiences within a secure environment, contributing substantially to the company’s partners’ business ventures.

Product Manager, Tsovinar Elchyan, said: “It is extremely encouraging to gain game certification also for Lithuania. It paves the way for local players to savor a diverse array of our games, including beloved titles such as Yummy, Diamond Flash, Lost Treasure, 20 Hot Bar, Los Apaches, Lucky Jungle, and many more! Quality is of utmost importance at PopOK Gamings, and meeting local regulations helps us to achieve the quality we are so proud of.”

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