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Stride Gaming accepts UKGC’s £7m fine

Niji Ng

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Stride Gaming accepts UKGC’s £7m fine
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UK-based gaming operator Stride Gaming has decided to accept £7m penalty slapped by the UK Gambling Commission (UKGC). Daub Alderney, part of Stride Gaming Group, will not appeal the penalty issued for its failure to prevent money laundering.

The Gambling Commission conducted an investigation about the activities of Stride Gaming and found that its mode of operation had lapses in monitoring of players, keeping full records of customer transactions and staff training in recognising transactions which could relate to money laundering.

Nigel Payne, Non-Executive Chairman of Stride Gaming, said: “Stride Gaming considers that robust anti-money laundering and social responsibility controls are extremely important.”

“We remain disappointed with the particular circumstances of this case and with certain factual inaccuracies which were presented by the Gambling Commission to the regulatory panel in the course of the proceedings, which we believe coloured the size of the fine that has been imposed.”

“This is an astonishing penalty imposed by the Gambling Commission’s Regulatory Panel on Daub Alderney Limited. The fine is almost double that of the original £4m set aside by the board of Stride Gaming to cover this outcome, and comes alongside a warning and additional conditions imposed on the operating licence. This penalty will send shock waves throughout the gaming industry, as the amounts involved are now so high that they are materially significant for some operators.” – commented Richard Williams, Licensing Partner at law firm Joelson.

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Industry News

Move to privatise Holland Casino extended

Niji Ng

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Move to privatise Holland Casino extended
Photo Source: hollandcasino.nl
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The move to privatise state-owned Holland Casino in the Netherlands has been postponed to 2020. The country’s justice minister Sander Dekker cancelled the vote for privatisation because of many objections that the measure suffered in the Senate.

The Financieele Dagblad said that senators are concerned about the fact that privatised casinos may encourage gambling and are worried about the way that the government was planning to proceed with the privatisation process, Dutch News informed.

The original plan included the selling of 10 of the 14 branches under the Holland Casino name, while the other four locations would be sold as a group. The cabinet from the Netherlands is also considering opening up the casino market to new providers and offer two licences.

Justice minister Dekker has until June to come up with a new proposal, present it to the senate and gain backing. “We may adapt the law, withdraw it altogether or go for a vote after all,” Dekker said in a note to senators.

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888 appoints Andrew Anthony as Responsible Gaming Director puts responsible gambling at forefront with appointment

Niji Ng

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888 appoints Andrew Anthony as Responsible Gaming Director puts responsible gambling at forefront with appointment
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The Gibraltar based gaming solutions developer, 888 Holdings, has appointed Andrew Anthony as its Responsible Gaming Director. He will be overseeing the company’s player protection efforts through the improvement of responsible gaming operations, systems and processes.

He will report to Yaniv Schwartz, SVP Customer Risk Management, who said about the appointment: “During the course of his career at 888, Andrew has gained numerous insights into the behaviour of the Company’s player base.”

“In addition to this, he brings a wealth of quantitative experience and methodology to his new role heading up our Responsible Gaming team.

“888 strives to ensure that those for whom our games are not intended will not be drawn into the gaming environment and that those customers who develop a gambling problem are quickly identified and helped.

“I am looking forward to the successful delivery of the responsible gaming initiatives we have planned and continuing to drive Responsible Gaming culture throughout the organisation.”

Anthony said he is thrilled about the new role: “I am thrilled to take on this role which is at the centre of how 888 operates. In particular, I am looking forward to working together with my industry peers and stakeholders so we can share ideas and promote best practice initiatives.”

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Online gambling sector posts record growth in France

Niji Ng

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Online gambling sector posts record growth in France
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The online gaming sector in France has maintained its solid growth trajectory as it posted record growth in the fourth quarter of 2018.

ARJEL, the gambling authority of France, has recently results the fourth quarter financial results.

As per the figures, betting companies in France posted a betting turnover of €3.9 billion, representing 56 per cent rise year on year. This is the highest betting revenue recorded in the country since online betting was legalised in 2010.

During the last quarter the value of wagers placed on sporting events was €1.06 billion, which is also a record for quarterly turnovers. The overall revenue generated for the quarter was €215 million, a jump of 32 per cent. The number of active punters also increased by 39 per cent to an average of 546,000 each week.

Volleyball posted the biggest gain percentage of all sports, with an impressive €18.8 million in bet values, registering a robust growth of more than 100 per cent from Q4 of 2017.

Football remained the most popular game for betting, as it generated a turnover of €663 million. The figure marked an increase of 54 per cent. It was followed by Basketball which came a distant second with €162.7 million in bets value. The third most popular market among punters was tennis which realised a turnover of €111.4 million, marking a 70 per cent improvement.

Online poker and horse racing did not record high turnovers as the other markets. The revenue from poker dropped by 1 per cent to €65 million, and tournaments seemed to rake in more profits than cash games. However, the number of active players per week increased by 2 per cent to 256,000.

In horse racing, the value of bets collected by operators in Q4 rose by 2 per cent to €275 million, while the increase in revenue was a meagre 1 per cent to €67 million.

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