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Lottoland granted full insurance licence

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Lottoland granted full insurance licence

Online lotto betting operator Lottoland have today announced that they have been granted an insurance licence by the Financial Services Commission (“FSC”) in Gibraltar in accordance with EU insurance legislation. This newly established insurance company Fortuna Insurance PCC Limited (“Fortuna Insurance”), is a subsidiary of Lottoland Holdings Limited.

Lottoland is the first and only company in the gaming sector to have established its own insurance company – holding itself up to the highest standard with regards to industry best practice and transparency.

Fortuna Insurance will underwrite all the bookmaking risks of Lottoland and will be regulated by the FSC in Gibraltar and the European Insurance and Occupational Pension Authority (“EIOPA”), which will both ensure that Fortuna Insurance will be compliant with the European Solvency II regime. The newly established insurance company will have a board and management team consisting of five experts, who will provide in depth insurance and reinsurance, financial markets, regulatory as well as gaming know-how to the company.

This is a historic milestone for Lottoland – transforming it’s industry leading risk management into its own fully authorised and licensed insurance company. Lottoland’s (re)insurance structure, which combines both risk carrying markets (i) insurance linked securities (“ILS”) and (ii) traditional (re)insurance), consists of the highest coverage in the market for the underlying gaming business (namely, lotto betting). The underlying gaming risk is highly modelled giving an extremely detailed degree of predictability and security to risk carriers as well as Lottoland and its customers. Fortuna Insurance has top ILS investors and rated reinsurers as its counterparts further adding to the robustness of its insurance. It is this structure that gives Lottoland flexibility to innovate driving higher value and jackpots for its customers and investors while always ensuring they can pay-out on all prizes in a timely manner.

Last month, Lottoland announced a second two year ILS transaction, which will now be transferred to sit under Fortuna Insurance. This transaction is fully collateralized through cash trust accounts and letters of credit, and is the largest ever reinsurance deal in the Gambling sector. All previous investors have shown their confidence in Lottoland by participating in the new transaction, and a handful of new investors also come on-board.

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Lottoland’s risk management structure has already proven its reliability, covering several major wins. The largest win paid out by Lottoland so far was €22 million and was won by a player from Berlin in 2016. So far, Lottoland players have won over €900 million across its business portfolio. Fortuna Insurance, provides Lottoland with even more flexibility to innovate and offer new games to players.

Other operators can also benefit from Lottoland’s proven lottery insurance solution thanks to Lottoland’s B2B arm Lottoland Solutions. Lottoland Solutions guarantees pay outs on all winnings now through Fortuna Insurance and offers a lottery betting interface that is easy to integrate into existing websites. Customers of William Hill Australia, Kindred Group plc and Gaming Innovation Group plc, are already benefitting from a partnership with Lottoland Solutions.

Lottoland CEO, Nigel Birrell, said, “The fact that Lottoland is the first and only company in the gaming sector to have done this, highlights our commitment to industry best practice and transparency. This is huge step forward not just for Lottoland but also for the gaming industry.”…

The post Lottoland granted full insurance licence appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.


Source: EEGaming.

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4Play

Fast Track Enters into Partnership with 4Play

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Fast Track, the leading player engagement platform built specifically for the iGaming industry, has partnered with 4Play, a dynamic and innovative gaming operator renowned for its exceptional player experiences in both casino and sports betting.

Launched in 2023, 4Play has rapidly gained recognition in the industry, primarily targeting the burgeoning Brazilian market. With a commitment to delivering unparalleled entertainment, 4Play offers its players a seamless experience in Portuguese, featuring popular gaming verticals such as casino and sports betting.

4Play’s decision to integrate Fast Track CRM comes as part of its strategic initiative to bolster player retention and streamline operations through advanced automation. Fast Track’s robust platform will enable 4Play to automate complex player journeys, ensuring each interaction is personalised and timely.

“We are excited to partner with Fast Track to elevate our player engagement strategies. Their innovative approach to CRM and their commitment to creating individualised player experiences align perfectly with our vision for 4Play. We look forward to leveraging their platform to enhance our player retention and operational efficiency,” Mateus Ihering, Chief Operating Officer of 4Play, said.

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Fast Track’s CRM platform, recognised for its real-time data capabilities and comprehensive automation suite, will support 4Play in achieving its business goals. By automating player communications and optimising the registration journey, 4Play aims to significantly increase its number of depositors while maintaining a high level of engagement among its 148,000 monthly active users.

Simon Lidzén, Co-Founder and CEO of Fast Track, said: “We are delighted to welcome 4Play into the Fast Track family. Their innovative spirit and dedication to providing top-tier player experiences make them an ideal partner. Together, we will set new standards in player engagement and retention, ensuring that 4Play continues to thrive in the competitive iGaming landscape.”

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Andrés Tamayo

Pragmatic Play Enhances FullReto Partnership with Virtual Sports Addition

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Pragmatic Play, a leading content supplier to the iGaming industry, has reinforced its commitment to Latin American expansion by strengthening its existing relationship with Colombian operator FullReto.

The latest agreement will see FullReto offer its players a broad selection of Pragmatic Play’s unique Virtual Sports titles, building on an already extensive offering of over 300 Slots and Live Casino games.

Fantastic League, Greyhound Racing, and the thrilling motor racing-themed Force 1 are among the games now available to FullReto customers as the operator looks to capitalise on the rapidly increasing popularity of Virtual Sports to consolidate its position as a leading platform in Colombia.

The multi-product partnership reaffirms Pragmatic Play’s intentions to expand its offering in the LatAm markets, with FullReto now offering a vast catalogue of Pragmatic’s award-winning games across three verticals.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is delighted to reinforce its partnership with FullReto by providing its players with access to its renowned Virtual Sports games. The deal not only emphasises Pragmatic Play’s desire to provide Colombian players with an exciting online gaming experience, but also demonstrates the supplier’s dedication to furthering its Latin American expansion.”

Andrés Tamayo, General Manager at FullReto, said: “FullReto’s continued collaboration with Pragmatic Play highlights our main objective of supplying the optimal player experience. The addition of Pragmatic Play’s Virtual Sports offering, on top of its Slots and Live Casino games, will ensure FullReto players have access to hundreds of fan-favourite games across a variety of verticals.”

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Alonso Huiman

Pragmatic Play Launches Live Casino Offer at Atlantic City

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City.

The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette, and Baccarat from the supplier’s award-winning portfolio.

This latest agreement showcases Pragmatic Play’s plans for growth in LatAm, exhibiting an array of its verticals across multiple territories in recent months. It is the latest deal signed by Pragmatic Play with a Peruvian operator, following a comprehensive growth strategy in the country.

Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Atlantic City is one of Peru’s most reputable operators and offers another opportunity to showcase the Pragmatic Play Live Casino portfolio in Peru. With an offering that will deliver exceptional gaming experiences to players, this partnership promises to cement Pragmatic Play’s position at the forefront of the Peruvian iGaming industry.”

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Alonso Huiman, Chief of Online Casino at Atlantic City, said: “This landmark agreement with Pragmatic Play is a pivotal moment for us. Its vast selection of table and card games will resonate seamlessly with our player base and we are confident that this will propel our brand to new heights.”

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