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NSoft’s overview on regulatory challenges in SEE

George Miller

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NSoft's overview on regulatory challenges in SEE
Reading Time: 3 minutes

 

Regulatory requirements strengthening the company’s know-how

 

In today’s business, the companies are being increasingly challenged with efforts to reach all set financial targets, and at the same time to comply with complex regulatory requirements. Gambling regulation is one of the most demanding areas for regulation in every legal system. If this fact is complemented by the fact that NSoft operates in over 35 countries (35 different legal systems) then it’s easily understandable that NSoft’s high regulatory challenges require continuous dedication.

However, with its expertise, NSoft is absolutely serious market player, playing a demanding regulatory “match” as well as complying with standards that regulators place in front of both, the company and its clients. Through the prism of NSoft, this match is to be perceived from two angles. The first one is where NSoft directly applies regulations in its field of activity, and the second one is when NSoft provides professional and advisory support to its clients. In both cases there is absolute commitment to comply with all regulatory standards in ensuring high quality business.

Dealing with the legal and regulatory risk

As said in the introduction, the regulatory requirements are becoming more and more complex, the intention is to regulate the market as much as possible. The special challenge are the growing sanctions for breach of the regulatory standards, which can expose each company both, financially and reputationally.

The question of how to deal with all of these challenges becomes legit. Many would say that it is enough to only know the rules and apply them consistently. However, NSoft approaches those problems much more comprehensively. Knowledge of regulations is something that is mandatory. Nevertheless, one should be aware that today’s regulations are so often ambiguous, leaving room for more interpretations and thus creating disagreements in deciding how to apply certain regulation and consequently leading to legal insecurity. In such situations it is not only crucial to know the regulation, but to manage legal and regulatory risk .

There is no uniform definition of these risks, but it is evident that the unexpected interpretation of the law or legal uncertainty could lead to financial, reputational or other damage for the company. This practically means that it is necessary to assess the risk, manage it, but in a way that does not cause any loss to the company or client, and that such a solution provides the basis for achieving previously agreed business objectives. Having this approach, in such an uncertain regulatory environment, allows us to provide additional security to our customers as we perceive these situations as a common challenge. New regulatory frameworks or modifications of the existent ones are approached from the aspect of rationality that is directly related to the aforementioned risk assessment.

This particularly implies on:

– establishing the sequence of activities of all participants

– defining the places and ways for cooperation and coordination of activities of different participants
– defining and managing tasks, both individual and team tasks

SEE region expecting changes to legal acts

If we take as an example the regulatory framework of the countries that geographically belong to South East Europe, then one basic common characteristics is easily identified – the need for a continuous improvement of improper legal solutions, completion of the process of harmonization with EU standards for non EU member states such as BiH, Serbia and Montenegro. Over the next period, from the aspect of regulation, both for clients and NSoft, the challenge will be to monitor the announced changes to legal acts within the gaming industry.

NSoft wants to be an active participant, whenever possible and when the procedures permit, in creation of regulations, making suggestions and objections, all with the aim of creating a better regulatory framework. We are aware that social responsibility in this segment is extremely important. As a company we are absolutely qualified for this kind of contribution to the community.

Don’t miss out on the chance to meet NSoft´s Team and find out more about NSoft’s products at upcoming ICE London. Book a meeting with our team or contact sales@nsoft .com .

 

Zlatan will be speaking during the 3rd edition of Prague Gaming Summit in the IMGL MasterClass and will share the insights of advertisement banning in the Balkans.
Do not miss this exciting opportunity to meet the team at Prague Gaming Summit 3 and discuss collaboration possibilities! You can Register here or View the Agenda.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Compliance Updates

Playson granted operational licence by Romanian Regulator

George Miller

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Playson granted operational licence by Romanian Regulator
Reading Time: 1 minute

 

Slot developer further enhances its Eastern European presence with Class II licence

 

Casino software developer Playson has been granted a Class II licence by the Romanian regulator (ONJN) allowing it to enter the country’s regulated market.

The new licence enables Romanian-facing operators to offer Playson games for the first time, including its popular Timeless Fruit Slots series, as well as its latest releases including Solar Queen, Wild Warriors, Mighty Africa and Book of Gold: Classic.

This expansion into the Romanian market extends the company’s presence across Europe and follows recent operator deals with TOPsport and SuprNation within the territory.

Playson CEO, Alexander Ivshin, said: “Here at Playson we’re delighted to announce we have been granted our Romanian licence and thrilled to give players access to our innovative slot catalogue.

“We’re always looking to expand our global footprint, and we look forward to working alongside the ONJN, and developing a long and fruitful partnerships in Romania.”

Approval by the ONJN brings total the number of Playson’s licences to three including those granted by the UKGC and MGA.

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Eastern Europe

BMM Testlabs Selected as the First Test Lab Partner by The Gambling Business Monitoring Center for the Belarus iGaming Market

George Miller

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BMM Testlabs Selected as the First Test Lab Partner by The Gambling Business Monitoring Center for the Belarus iGaming Market
Reading Time: 2 minutes

 

BMM Testlabs, the world’s best gaming testing laboratory and technical consultancy, is pleased to announce that The Gambling Business Monitoring Center (GBMC) chose BMM as its first international test lab partner in February 2019 to support the opening of the regulated iGaming market in Belarus. GBMC is the only authorized lab by Belarus law to certify iGaming products for the Belarus market

EVP, Europe and South America, Gene Chayevsky commented, “We are honored to have been the first international lab that partnered with GBMC at ICE 2019. It is our pleasure to be their certification partner as they work to open the regulated Belarus iGaming market, and we look forward to working with GBMC to bring many of our customers to this new market. BMM is thankful to GBMC for the opportunity.”

“The Gambling Business Monitoring Center is proud to have chosen BMM as its first international test lab partner in February 2019 to help support the opening of the regulated iGaming market in Belarus. We are grateful for BMM’s collaboration with our laboratory in introducing leading international iGaming operators and game suppliers to our jurisdiction and look forward to a productive long-term partnership in certifying products with BMM for our market,” stated Siarghei Trukhan, Manager of the Testing Department of the Gambling Business Monitoring Center.

 

About BMM:
BMM is the longest established and most experienced private independent gaming certification lab in the world, providing professional technical and regulatory compliance services to the gaming industry since 1981.

At its core, BMM is a systems-expert company that has provided consulting for and tested many of the largest gaming networks and systems over the last 37 years. In addition, BMM has been successfully testing and certifying the full scope of Class III casino products for over two decades.

BMM authored the first set of independent gaming standards in 1992 and the first set of online gaming standards in 2001.

BMM employs some 400 people in 14 global locations and serves over 460 jurisdictions.

BMM’s world headquarters are in Las Vegas (USA), with offices in Mexico City (Mexico), Lima (Peru), Melbourne and Sydney (Australia), Singapore, Macau (SAR, China), Moncton (Canada), Buenos Aires (Argentina), Barcelona (Spain), Vienna (Austria), Bologna (Italy), Midrand (South Africa) and Bucharest (Romania).

For more information on BMM Testlabs, please visit bmm.com

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Eastern Europe

Imperia Casinos In Bulgaria Launches Bryke Video Slots from Zitro

Niji Narayan

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Imperia Casinos In Bulgaria Launches Bryke Video Slots from Zitro
Photo Source: zitrogames.com
Reading Time: 1 minute

 

Imperia Casinos in Bulgaria has launched Zitro’s Video Slots brand Bryke, which is a sign of the latter’s growing popularity. This will allow players in Bulgaria to enjoy the world’s number one multigame progressive bank Link King. It has been made available on the cutting-edge Fusion Slant terminal, a cabinet that has proved to satisfy players and operators alike. As confirmed by Gavril Chetrafilov CEO of Imperia Casinos: “We have been watching Zitro’s video slots brand Bryke grow very fast and strong in the last couple of years and are very pleased that their products can now be played in our venues. Giving the success of Bryke in the global marketplace, and seeing the product roadmap of the company, we feel very confident investing in Zitro and look forward to a long-term partnership.”

Nadège Teyssedre, Sales Director of Zitro for EMEA comments: “We feel very proud as to how far we have come already with our products, especially in, for us, new markets where competition is very strong and only the best ones are allowed in. Link King and Link Me are both games that have outperformed the most established brands in venues across the globe and is putting Zitro on the must have list of suppliers for any operator. Being present at the Imperia Casinos in Bulgaria is yet another milestone we have accomplished in our ambitious expansion plans and we want to thank Gavril and his incredible team for their trust.”

 

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