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Brazil is not friendly to ‘amateurs’ warns Online IPS partner Witoldo Hendrich Junior ahead of attendance at ICE London

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Brazil is not friendly to 'amateurs' warns Online IPS partner Witoldo Hendrich Junior ahead of attendance at ICE London
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Veteran industry lawyer Witoldo Hendrich Junior, Chief Legal Officer (Brazil) and Partner at registered payment facilitator Online IPS has warned of the significant dangers of attempting to enter LatAm markets prematurely and without the necessary knowledge. Speaking ahead of the company’s appearance at ICE London (stand N10-585) the Online IPS partner, who has lectured in taxation as a University Professor in Rio for close to 20-years, stated: “Taking Brazil as an example, with a population of 220 million, the country is on course to become one of the most important sports betting markets in the world but one which requires specialist and expert support. Here in Brazil, we admit that Brazil is not friendly to ‘amateurs’. Taxation has historically been known for being very challenging and complex, and the recent political involvement from the Supreme Court into legislative and executive matters definitely compromised the confidence in legal certainty.

“We will be using our appearance at ICE London to explain our entry strategy for organizations wishing to operate in Brazil, as well as the special tax treatment enabling merchants to take funds out of the country in a legally compliant manner, using Central Bank regulations. Our goal is simple and that’s to allow Chief Compliance Officers to relax confidently and Chief Financial Officers to rest easy!”

Emphasizing the importance of taking a country-by-country approach to entering LatAm he stated: “Contrary to Europe, each country in LatAm works very differently, with varying legislation, processes, and standings on the igaming space. Entering multiple countries in LatAm involves starting from scratch in each one.

“Legislation regulating igaming is also very new in LatAm and there are various rules and specifications to abide by in each country that differ from the next. Not reviewing them thoroughly or understanding clearly can lead to obstacles, hindering the ability for potential merchants to do business in the region. These are important realities European companies must account for when considering entering LatAm.”

Hendrich, who has two decades of legal experience in Brazil with expertise in gambling regulation after spending eight-years in the industry, added: “Online IPS is a registered payment facilitator in the LatAm region with local offices in the countries we operate, with teams in each specializing in the operations and regulations of each country. We have offices in Brazil, Colombia, Peru and Mexico with Chile on the horizon for the end of 2022. The partners and management staff of Online IPS are seasoned professionals with decades of combined experience in the international payment industry. The best insight we can give into the LatAm market is that having a local strategy/approach is the best way to succeed in the region. This is exactly what we can offer our merchants, to aid in their success in the region and ease entry to market barriers.”

Welcoming the return of ICE London he said: “The industry has certainly missed the show. ICE is a critical component of the industry and with the sector going through so many changes and growth in the last couple of years, the industry is definitely ready to come together during ICE and immerse itself in all the new opportunities the space has to offer.

“In-person interactions create a sense of community, connection, and empathy that digital communications technology cannot match. As a merchant service provider, we not only place great value in the customer service we provide but the close relationships we build with partners and merchants. It’s the intangibles that count, such as a new connection formed over a drink or a degree of trust established from a friendly conversation and a handshake. These are what help us as a company, to build the trust needed to develop the tailored-made solutions merchants require to succeed. Ultimately attending ICE helps us keep our finger on the pulse of what is going on in the sector and allows us to do a more thorough analysis through conversations, discussions and the overall show environment. It’svitally important.”

Compliance Updates

CT Interactive Certifies 60 Games and Hot Luck Jackpot for Peru

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CT Interactive has successfully certified 60 of its most popular games, along with the Hot Luck Jackpot, in Peru. This certification aligns with recent legislative updates in the Peruvian market, aimed at enhancing the gaming environment.

In response to these regulatory updates, CT Interactive has proactively certified a diverse range of games to provide Peruvian operators with a wide array of engaging gaming options. The newly certified games cover a broad spectrum of themes and features, ensuring that there is something for every type of player.

The newly certified games are: Hit the Hot, Lord of Luck the Wheel, Wizard Blizzard, 20 Star Party, Celestial Dragon, 40 Mega Slot, Monkey Sevens, 40 Shining Jewels, Shining Treasures, 40 Treasures, Giraffe Wild, 50 Treasures, Rodeo Power, Alaska Wild, Lord of Luck, Amazons Spear, Ramesses the Great, Banana Party, Fortune Pig, Brilliants Hot, The Power of Ramesses, Brilliants on Fire, Treasure Chase, Chilli Fruits, The Oldest Oak, Coffee Magic, Banana Merge, Dancing Dragons, Fortune Pyramid, Duck of Luck, HOT 7’s X 2, Fire Dozen, Magic Crown, Fortune Fish, Pick the Pig, Great Queen Bee, Win Storm, Lucky 3 Penguins, 20 Clovers Hot, Lucky Clover, Full of Luck, Penguin Party, The Great Sevens, Pot’o Luck, Fire Egg, Purple Fruits, The Golden Duck, Purple Hot 2, 40 Fruitata Wins, Pyramid of Gold, Power Storm, Wild Clover, The Big Chilli, Wild Hills, Jester Jack, Big Joker, Lucky Kiwi, Dark woods, 20 Mega Slot and Fluffy Tails.

Each of these games has been meticulously tested and certified to meet the stringent new standards set forth by Peruvian regulators.

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Golden Matrix Group Joins Rio Grande do Sul Flood Relief Program

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Golden Matrix Group (NASDAQ: GMGI), a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across 17 regulated markets, today announced its participation in the global coalition initiative for flood relief efforts in Rio Grande do Sul, Brazil.

This partnership aims to provide substantial support to the communities in this Brazilian state that have been most devastated by the recent severe flooding.

This initiative is part of the gaming industry’s larger collaboration with local NGOs and humanitarian organizations, marking a significant expansion of our intensive CSR efforts, which saw over 225 community impact campaigns last year alone, primarily through the actions of its subsidiary Meridianbet.

The past week has witnessed unprecedented rainfall in Rio Grande do Sul, turning streets into rivers and isolating entire towns. The current situation remains dire, with hundreds of individuals still unaccounted for, while rescue operations have successfully evacuated over 200,000 residents using boats and helicopters.

The floods have wreaked havoc on infrastructure, with numerous bridges destroyed, severely disrupting access to Porto Alegre. The aftermath of the disaster has also led to looting in supermarkets during the night, adding to the urgency of the relief efforts.

Golden Matrix Group invites its stakeholders and the global community to contribute to this cause.

About Golden Matrix Group

Golden Matrix Group, based in Las Vegas, Nevada, is a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across 17 regulated markets. The B2B division of Golden Matrix develops and licenses branded gaming platforms for its extensive list of clients, and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The Company also owns and operates MEXPLAY, a regulated online casino in Mexico. In 2024, Golden Matrix completed the acquisition of MeridianBet, a well-established and B2B and B2C sports betting and gaming platform operating and regulated in multiple markets in Europe, Africa and LatAm, providing the combined entity with additional international operations.

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F1 Star Joins SOFTSWISS as LatAm Non-Executive Director: Key Highlights

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F1 Star Joins SOFTSWISS as LatAm Non-Executive Director: Key Highlights
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On the eve of SiGMA Americas, the largest iGaming show in the region, SOFTSWISS, a leading global software supplier with 15 years of experience, introduced the racing legend Rubens Barrichello as its Non-Executive Director in Latin America. Local press, influencers, and industry representatives attended the unveiling event, expressing broad interest in SOFTSWISS as the company actively expands its presence in the region.

During the official introduction, Ivan Montik, Founder of SOFTSWISS, and Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS, shared the company’s plans for the Brazilian market, commented on the local gambling regulations, and answered questions about Barrichello’s role within SOFTSWISS.

Ivan Montik, Founder of SOFTSWISS, expressed his excitement about the significant milestone, saying: “This marks a thrilling chapter for us. It’s an extraordinary day for me personally as I’ve been a Formula 1 fan since 1994, my teenage years. Welcoming Rubens to our team feels like a dream come true.”

Rubens Barrichello, now serving as SOFTSWISS’ Non-Executive Director in Latin America, highlighted his deep connection to the company’s values. “I am new to this role but no stranger to challenges. In racing, the goal is always to win, but knowing when to step back and why things didn’t go as planned is important. I see responsible gaming in a similar manner. It is about knowing your limits and pushing forward to improve. I’m here to bring that mindset to our team.”

In light of the ever-evolving news about gambling regulation, Montik commented: “We are looking forward to the final version of the Brazilian law, expected to be unveiled this July. Understanding the regulatory landscape will guide our efforts to adapt to software requirements and bring solutions to the market. We aim to collaborate closely with local operators and businesses, empowering them with robust software tools tailored to their needs.”

Addressing security concerns, Ivan Montik emphasised: “Ensuring the security of our software solution has always been paramount. It’s been a core strength for us since the beginning. Throughout our journey in the industry, we have maintained a clean record with no cases of software hacks, of which I am proud. Our software undergoes rigorous testing by international laboratories like GLI, meeting many cybersecurity standards. We not only meet but exceed these requirements because fraudulent activities and hacker attacks constantly target the gaming industry.”

Rubens Barrichello’s appointment as Non-Executive Director in Latin America signifies a pivotal strategic step for SOFTSWISS, particularly in Brazil’s rapidly expanding market. With projections from TGM Research indicating that by 2026, Brazil’s iGaming industry could yield gross revenues of 2.3 billion euro, potentially accounting for 1% of Brazil’s GDP, which stands at 1.5 trillion euro.

 

About SOFTSWISS 

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

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