Compliance Updates
Soft2Bet Secures Romanian License
The leading online iGaming platform provider adds Romania to its portfolio, tapping into one of the fastest-growing markets in the European Union
Soft2Bet, an established iGaming operator, has obtained the highly sought-after Romanian license. The first-class license by the local regulator ONJN allows Soft2Bet to organize and operate games of chance in Romania, including casino and sportsbook offerings.
With this significant achievement, Soft2Bet is poised to firmly establish its presence in one of the fastest-growing markets within the EU. By expanding its exceptional portfolio of services, Soft2Bet aims to cater to an even broader demographic. The Romanian market, known for its comprehensive regulations and transparent operational environment, has exhibited remarkable growth in recent years. Thus, securing this license represents an exciting opportunity for Soft2Bet to deliver innovative and secure gaming experiences to Romanian consumers.
This milestone underscores Soft2Bet’s ambition to continue its global expansion strategy and commitment to expand its global regulated markets activity. It follows Soft2Bet’s most recent regulatory expansion, the procurement of a Greek operating license and Swedish B2B licenses.
Soft2Bet’s General Counsel, David Yatom, remarked, “We consider the Romanian market as one of the pivotal markets for establishing our foothold in Eastern Europe. Acquiring a local Romanian operating license marks an important step in our strategic expansion, building upon Soft2Bet’s success in other European markets. Stay tuned for more exciting developments in the near future.”
Compliance Updates
The Danish Gambling Authority Will Have More Response Options with Amendment of the Gambling Act
On 2 May, the Danish Parliament adopted the Act on Amendment of Act on Gambling. Among other things, the amendment of the Gambling Act means that the Danish Gambling Authority from the 1st of July 2024 will have more response options i.e., options to issue orders and reprimands.
Until last month, the Danish Gambling Authority had the option to warn the licence holder or report it to the police when the Danish Gambling Authority found a breach of the gambling legislation.
However, in the future, when the Danish Gambling Authority finds a breach, the Danish Gambling Authority can issue an order and/or a reprimand. If the licence holder fails to comply with the order or does not meet the deadline, the breach may result in a report to the police or the licence may be revoked.
The amendment of the Act also means that the Danish Gambling Authority must publish court rulings where the outcome is a verdict of guilty or a partial verdict and fines issued for breaches found after 1 July 2024 on the Danish Gambling Authority’s website for five years.
On Spillemyndigheden.dk, you will find a full list of all reactions issued by the Danish Gambling Authority. You will find the list “Rulings and reactions” under “News” in the menu. The list enables you to filter by type of reaction and field of law.
The post The Danish Gambling Authority Will Have More Response Options with Amendment of the Gambling Act appeared first on European Gaming Industry News.
Edict egaming has received approval from the Alcohol and Gaming Commission of Ontario (AGCO) to provide its games for the online casino market in the Canadian province. This applies to both the German edict egaming GmbH and Edict Malta Limited. From now on, the Merkur Group subsidiary will be able to offer its popular Merkur slots in one of the largest North American markets.
“We are delighted to have received AGCO approval for our Merkur games in Ontario. This is definitely a big step for edict and we are very excited to showcase ourselves to new audiences on the global stage in this dynamic market,” Dominic-Daniel Liénard, CEO of edict egaming GmbH, said.
The AGCO is working with the Government of Ontario and iGaming Ontario (iGO) to establish a new online gaming market that helps protect consumers gambling through private gaming companies. This license certifies that edict operates within the framework of strict laws and meets the requirements for responsible gaming.
Compliance Updates
Malta Gaming Authority Reminds Licensees to Notify Material Outsourcing Within 30 Days
The Malta Gaming Authority (MGA) has issued a reminder to licensees regarding the necessary compliance procedures for outsourcing activities related to material supplies, critical supplies and key functions.
According to the Gaming Authorisations and Compliance Directive, licensees must adhere to the Policy for Outsourcing by Authorised Persons. Licensees are required to notify the MGA within 30 days when outsourcing material supplies.
For outsourcing activities deemed to be critical supplies or critical services, prior approval from the Authority is mandatory. This approval must be secured before entering into any agreements, MGA said in a statement.
Outsourcing requests should be submitted through the “Operational – Outsourcing Arrangements” application on the Licensee Portal. Key Function applications need to be submitted directly by the respective Key Person via the “Personal Portfolio” on the Licensee Portal.
Furthermore, if licensees require the MGA’s formal approval for any outsourced business arrangements with third parties, known as “Shared Conduct Agreements,” a specific procedure must be followed to obtain this approval.
The post Malta Gaming Authority Reminds Licensees to Notify Material Outsourcing Within 30 Days appeared first on European Gaming Industry News.
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