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SKS365: Lara Falzon named new Chief Financial Officer

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SKS365: Lara Falzon named new Chief Financial Officer
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SKS365 the international betting and gaming company – operating in Italian market under Planetwin365 brand – appointed gaming industry expert Lara Falzon as Group Chief Financial Officer.

Ms. Falzon brings a wealth of industry experience, providing strategic financial leadership to some of the most respected brands in the international market including, most recently, the role of operational CFO at NetEnt, where she was instrumental to the acquisition process by Evolution Gaming. Prior to this, Lara was the CFO role of Red Tiger, where she oversaw the acquisition process by NetEnt in 2019. Ms. Falzon is a fellow member of the Association of Chartered Accountants and holds a Bachelor of Commerce from the University of Malta.

I am very pleased to welcome Lara to our talented executive team at SKS365 as CFO”, said Alexander Martin, CEO of SKS365. “Lara brings a wealth of experience in M&A activity and leading financial operations across international markets combined with in-depth industry experience from working at various gaming companies. Finance is a key function at SKS365 supporting actively our growth and profitability targets and I am delighted to have Lara leading our excellent finance team.

The new CFO comes in SKS365 at a time of intense growth for the company, both as a business of the Planetwin365 brand and as a development of corporate activities. Her appointment represents a new beginning in the name of trust and in optimism, due to the economic challenge the industry is currently facing.

SKS365 is among one of the leaders of the Italian betting and gaming industry and I am thrilled to contribute with my expertise to further drive the company’s growth and transformation plans. SKS365 operates in a very complex and challenging market both in terms of regulation and financial sustainability. I am delighted to join the company at this time and I am looking forward to working with the team to execute on the company’s priorities, accelerate growth and enhance value for shareholders and all stakeholders” commented Lara Falzon.

SKS365 ability to attract talent as the hire of Lara Falzon is a further testament to the significant progress the company has made in its transformation journey into an industry leading brand.

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MiFinity enable N1 Interactive’s payment expansion

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MiFinity, the secure iGaming eWallet, today announced a new partnership with online casino operator N1 Interactive Limited. The MiFinity eWallet will now be available as a payment method for customers in some of N1 Interactive’s European markets across 37 brands.

As one of the most popular casino brands on the market, N1 Interactive offers a wide range of payment methods for players in different regions. MiFinity will be working with N1 Interactive to help increase conversions by providing players with their preferred payment method via the MiFinity eWallet.

Paul Kavanagh, CEO at MiFinity, said: “We have considerable experience in N1 Interactive’s key European markets, providing customers with localised payment methods via our eWallet. With over 40 integrated payment methods, we can significantly reduce the risk of a player abandoning the cashier across all N1 Interactive’s live brands.”

N1 Interactive added: “We’ve onboarded MiFinity because they offer a wide range of local payment methods in our target markets, as well as having an in-depth understanding of these markets. With their support, we can provide better service to our players and streamline the payment journey, increasing conversions and removing transaction barriers.”

With the MiFinity iFrame, brands like Casino Universe, Slot Hunter Casino and N1 Casino can provide players with the option to use their MiFinity eWallet within the cashier experience. Once players have signed up for a MiFinity eWallet, they can choose their preferred local payment method to transfer funds. Then, players simply select the MiFinity option directly in the cashier for deposits and withdrawals when playing online.

Paul Kavanagh said: “Removing unnecessary steps in the payment journey, such as navigating to a 3rd party payment page, positively impacts conversion rates. Similarly, providing players with localised payment methods, multiple currencies, and multilingual options reduces the risk of cart abandonment. Our iFrame does all this within the brand’s cashier, providing a seamless customer experience.”

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ACMA Blocks Illegal Offshore Gambling and Affiliate Marketing Websites

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The ACMA has requested that Australian internet service providers (ISPs) block more illegal offshore gambling and affiliate marketing websites.

The sites include Casino Moons, Winnerama, Extra Vegas, Win Paradise, LegitGamblingSites and Gamblers Lab.

The ACMA investigated and found these services to be operating in breach of the Interactive Gambling Act 2001.

Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 568 illegal gambling and affiliate websites have been blocked.

Over 170 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal offshore gambling rules in 2017.

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Compliance Updates

Entain to Pay £17M Penalty for Online and Retail Failures

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Entain, the global sports betting, gaming and interactive entertainment Group, has confirmed that it has agreed a regulatory settlement with the UK Gambling Commission (UKGC) in respect of alleged historical licensing breaches. The regulatory settlement amounts to £14m in respect of Entain’s digital business and £3m in respect of its retail business.

Entain has entered into the regulatory settlement with the UKGC in order to bring the matter to a close and avoid further costly and protracted legal proceedings. Entain accepts that certain legacy systems and processes supporting the operations of its British business during 2019 and 2020 were not in line with the evolving regulatory expectations of the UKGC in respect to aspects of social responsibility and anti-money laundering (AML) safeguards. However, the Group also notes the UKGC’s statement that it found no evidence whatsoever of criminal spend within Entain’s operations.

The issues raised by the Commission relate to the period between December 2019 and October 2020, which predates the many changes in the area of safer gambling and AML that Entain has introduced. For instance, in 2021 Entain launched its Advanced Responsibility and Care (ARC) programme which, using revolutionary AI technology, operates in real-time and is individually tailored for each customer. The initial trials of ARC in the UK have shown a risk assessment accuracy of over 80%, a 120% uplift in the use of safer gambling tools by those most at risk and a 30% overall reduction in customers increasing their risk levels.

Furthermore, in May of this year, Entain was awarded the Advanced Safer Gambling Standard by GamCare, having evidenced the highest standards of player protection and social responsibility for its online and land-based gambling businesses in Great Britain.

As part of the settlement, Entain has also agreed to appoint a Board sponsor to oversee the implementation of any further improvements identified by the original 2020 compliance assessments and to undertake an independent audit of the relevant policies and procedures at a future date.

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