Balkans
In Montenegro, a Controversial Law Challenging the Fintech Future Prompts Legal Experts to React
![In Montenegro, a Controversial Law Challenging the Fintech Future Prompts Legal Experts to React](https://europeangaming.eu/portal/wp-content/uploads/2024/03/fintech-e1711530055792.webp)
Montenegro’s evolving digital landscape has been facing a significant hurdle with the introduction of Article 68f of the Gambling Law since the beginning of 2024. Legal experts, spearheaded by the prestigious law firm Schoenherr, have also raised concerns over the provision’s controversial nature and reminded on the constant scrutiny of the market participants regarding the risks to of the Article 68f to stifle not only the gaming industry but also jeopardize the expansion of Montenegroâs fintech sector.
Schoenherr’s Legal Scrutiny of Article 68f
The amendment, aimed at regulating online betting transactions, restricts funding the online accounts payments to cash in physical premises or through traditional payment cards, excluding a wide array of digital banking – e-banking and mobile banking solutions.
Delving into the entire problematic of Montenegro’s subject legal landscape, Schoenherr has conducted a thorough examination of the recent amendments to the Gambling Law, with a keen focus on the widely debated Article 68f. They reminded on a significant concern from market participants as well as on their massive response, in light of petition with over 25,000 signatures gathered and various legal initiatives initiated aimed at its repeal and constitutional review. Schoenherr underscored the depth of the controversy surrounding the new legislative measures and their impact on the online gaming sector in Montenegro.
Industry and Public Backlash
The introduction of Article 68f has not gone unnoticed by the market’s stakeholders, eliciting a strong response from gaming organizers who view the measure as unjustified and potentially illegal. A significant mobilization effort led to the initiation of a petition that garnered over 25,000 signatures, demonstrating widespread opposition to the law. This public outcry resulted in formal initiatives being submitted to both the Montenegrin Parliament and the Constitutional Court to challenge the provision’s legality and constitutionality.
Awaiting a Resolution
As the legal and public spheres await the competent authorities’ decision on these initiatives, the uncertainty surrounding Article 68f raises pressing questions about the future of digital innovation and consumer rights in Montenegro. The law firm’s analysis highlights a pivotal moment for the country, as it grapples with balancing regulatory objectives with the need to foster a competitive and inclusive digital economy.
The Broader Implications for Montenegroâs Fintech Industry
Beyond the immediate concerns for the gaming sector, the law’s restrictions on digital payment methods signal a potential setback for Montenegro’s fintech ambitions. In an era where digital financial services play a critical role in economic development, restrictive measures like Article 68f could deter innovation and investment in this crucial sector. The legal analysis by Schoenherr serves as another alarm-bell-call for a reevaluation of the law, urging policymakers to consider the long-term impacts on the country’s digital and financial landscape.
Balkans
Vermantia Powers the BEGE Awards at itâs 15th Anniversary!
![Vermantia Powers the BEGE Awards at itâs 15th Anniversary!](https://europeangaming.eu/portal/wp-content/uploads/2024/07/bege-x-vermantia.png)
The 15th anniversary of the Balkan Entertainment and Gaming Expo Awards is just around the corner, set to illuminate club Black&White in Sofia, Bulgaria on November 26th.
The BEGE Awards have become a benchmark for excellence in the gaming industry, recognizing innovators, game-changers, and trailblazers who’ve made a significant impact on the gaming landscape. The ceremony brings together industry leaders to celebrate their outstanding achievements and contributions.
A distinguished panel of experts will meticulously evaluate nominees based on a range of criteria, with the esteemed jury casting their votes to select the winners who will be honored at the prestigious awards ceremony.
đThis year, we are thrilled to announce that Vermantia, a pioneering technology powerhouse that revolutionizes betting businesses with custom-made, exclusive data and picture content, has joined forces with us as a key sponsor. Their commitment to quality and innovation makes them a perfect partner for this celebration of excellence.Mark your đ and get ready to submit your nominations for the chance to recognize and reward the pioneers who are shaping the future of the gaming industry.
The nominations are opening soon, and you won’t want to miss this opportunity to be part of this prestigious event!
Balkans
REEVO partners Slotino: Powering Up Bulgarian iGaming!
![REEVO partners Slotino: Powering Up Bulgarian iGaming!](https://europeangaming.eu/portal/wp-content/uploads/2024/07/REEVO-x-Slotino.jpg)
REEVO, is thrilled to announce its partnership with Slotino, a prominent online casino brand in the regulated Bulgarian market. This collaboration aims to bring an unparalleled gaming experience to Bulgarian players, leveraging the strengths and innovative approaches of both companies.
Vasil Stumbov, Slotino, commented:âWe are delighted to partner with REEVO and bring the high-quality casino games on offer to our Bulgarian audience. As both companies have a strong focus on innovation, Iâm sure we will establish a strong partnership, delivering even better player experiences and presenting the great content REEVO has to offer to our players.â
Petra Maria Poola, Head of Sales at REEVO, commented: âWe are incredibly excited to partner with Slotino and bring our diverse portfolio of high-quality casino games to the Bulgarian market. Slotinoâs commitment to localization and personalized player experiences aligns perfectly with our mission to innovate and enhance the iGaming industry. Together, we will provide an unparalleled gaming experience that will captivate and engage players, setting a new standard in the market.â
Partnership Highlights:
- Enhanced Player Experience:Â The integration of REEVOâs diverse portfolio of high-quality casino games into Slotinoâs platform will significantly enhance the player experience.
- Innovative Solutions:Â The partnership will drive the development of unique features and offerings tailored for the Bulgarian market.
- Localized Content:Â Slotinoâs expertise in localization combined with REEVOâs extensive game library ensures a customized and engaging gaming experience for Bulgarian players.
The collaboration between REEVO and Slotino marks a significant step forward in the Bulgarian iGaming market. By combining Slotinoâs detailed localization and unique product features with REEVOâs innovative game offerings and aggregation solutions, the partnership aims to deliver an unmatched gaming experience to players.
Balkans
Gaming Corps lands in Bulgaria with Kaizen Gaming deal
![Gaming Corps lands in Bulgaria with Kaizen Gaming deal](https://europeangaming.eu/portal/wp-content/uploads/2024/07/Gaming-Corps-in-Bulgaria-with-Kaizen-Gaming.png)
Gaming Corps, a publicly-listed game studio based in Sweden that has earned a reputation for developing market-leading casino games, has expanded its global reach into Bulgaria through a major content partnership with Kaizen Gaming.
The deal means that Kaizen Gaming will be able to offer Gaming Corpâs full suite of games to its players on an exclusive basis for the next six months before the studio can strike additional partnerships with other operators in the market.
Kaizen Gaming operates the hugely popular Betano and Stoiximan brands in Bulgaria, a market that has gone from strength to strength since regulating online gambling back in 2012 with high consumer demand for online casino and slot content from new and exciting providers.
The partnership between Gaming Corps and Kaizen Gaming brings the studioâs internationally acclaimed slots to the Bulgarian market for the first time. This includes proven player-favourite titles like 777 Jackpot Diamond Hold & Win, Bon Bon Bonanza and Samba Soccer.
Players will also gain access to Gaming Corps hit portfolio of Smash4Cash⢠titles, including both Piggy Smash and RAMPAGE! Smash4Cash⢠which were launched earlier this year.
Danielle Calafato, CCO at Gaming Corps, said: âWe could not ask for a better operator partner to make our debut in Bulgaria with. Kaizen Gaming operates two of the most popular brands in the market and we are thrilled to see of games land in its lobbies for the first time.
âBulgaria is a thriving market with plenty of growth potential for operators that bring new and exciting content to their players. Kaizen Gaming has done just that through this partnership, and we are especially excited to see players engage with our Smash4CashTM titles.
âWe are committed to expanding our reach into more regulated markets over the coming months as we continue to establish Gaming Corps as a major content provider.â
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