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Stride Gaming accepts UKGC’s £7m fine

Niji Narayan

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UKGC: £1.8m fine for Silverbond Enterprises
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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.

Industry News

Net Gaming in Preparations to Enter Dutch Market

Niji Narayan

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Net Gaming in Preparations to Enter Dutch Market
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Gaming solutions provider Net Gaming has begun preparations for the regulation of online gambling in the Netherlands, with a view to entering the market as early as possible.

The Dutch parliament had a final saying regarding the secondary legislation related to the Remote Gambling Act. The implementation of the Act will end the long overdue wait for a modern gaming legislation in the Netherlands. The new law is expected to enter into force in Q1 of 2021, which is also when license applications will be accepted for operators.

Net Gaming has chosen to take swift measures to be in the best position to capitalise on the Dutch market at the earliest possible time. The measures include adjustments to the product offering to be compliant on the Dutch market until the new law is entered into force.

The implementation of the Remote Gambling Act in the Netherlands is a step forward for the Dutch market and consumers, as well as a positive development towards locally regulated revenues for Net Gaming.

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Compliance Updates

Pariplay Receives ISO/IEC 27001 Certification for Information Security Management

Niji Narayan

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Pariplay Receives ISO/IEC 27001 Certification for Information Security Management
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Online casino games provider Pariplay Ltd has received ISO/IEC 27001 certification for its Information Security Management System (ISMS). ISO/IEC 27001 is an information security standard published by the International Organisation for Standardisation (ISO) and the International Electrotechnical Commission (IEC).

This latest company milestone will enable Pariplay to continue their global expansion into regulated markets and to provide their extensive portfolio of engaging games to more operators. One such region where Pariplay will be making its debut is in Switzerland, a highly lucrative and prestigious market that uses the ISO certification as their regulation benchmark.

Establishing partnerships with a new base of operators in Switzerland will allow Pariplay to provide access to a repertoire of over 100 inhouse developed casino games, including its latest Spin N’Hit and Stallion Fortunes, as well as extremely popular titles like Wolf Riches and Dragons of the North.

“This accreditation acknowledges our unwavering commitment to compliance and security across our global operations, while also allowing us to continue to expand our reach into newly regulated markets, including Switzerland. We’re very excited at the possibilities this presents as more players get to experience our thrilling games and cutting-edge services, furthering our 2020 strategy of branching out into newly regulated markets on a truly global scale,” Adrian Bailey, MD of Pariplay, said.

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Industry News

BetConstruct Releases its New Game Virtual Drag Racing

Niji Narayan

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BetConstruct Releases its New Game Virtual Drag Racing
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BetConstruct has released a new racing game named Virtual Drag Racing. This is the latest addition to BetConstruct’s Virtual Sports offering that now includes ten games. The game features a short racing court and two vehicles competing with one another to be the first at the finishing line.

BetConstruct has accurately built the audio-visual components of the game to deliver outstanding entertainment to its partners’ players. With realistic cars and race animation accompanied by the sound design of roaring engines and road drifting, the 20-second gaming sessions capture and convey the true feel of street racing.

The betting markets include fixtures like winner and individual total time, while offering 500 games a day with two-minute intervals. The combination of a fast-paced game and next-level 3D visualisation allows the operators to target players who are in for a fast and emotional betting experience.

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