Compliance Updates
NCLGS Publishes Draft Model Internet Gaming Act
The National Council of Legislators from Gaming States (NCLGS) has published a draft of its Model Internet Gaming Act. The proposal provides a model regulatory framework for US states considering the legalisation of online gaming. The document is open for public comment until December 31.
The proposal suggests various policies for state legislators, regulators, and other stakeholders to consider. NCLGS suggests that igaming licences last for five years and recommends a tax rate of between 15 and 25%. The average tax rate in the US, excluding Pennsylvania, is 19%, it says.
The draft proposes the prohibition of sweepstakes games and mentions responsible gambling initiatives such as creating a player health program and requiring online gaming operators to designate a responsible gaming lead.
Comments can be sent by mail and interested parties can also participate in a discussion that will be held at the upcoming NCLGS meeting at Caesars New Orleans from December 12 to 15.
The NCLGS said: “The objectives of this model legislation are to establish an effective, comprehensive, and efficient regulatory framework consistent with public policy that will foster public confidence and trust in the integrity of the regulatory process and the fairness of internet gaming operations. The regulatory provisions are intended to extend strict regulation and oversight over all aspects of internet gaming operations.”
Golden Matrix Group, Inc. (Nasdaq: GMGI) is pleased to announce that its subsidiary Meridianbet has received formal notice from Brazil’s Ministry of Finance, through its Secretariat of Prizes and Betting (SPA) division, that it may proceed with the licensing process to operate in the country. This critical milestone affirms Meridianbet’s compliance with Brazil’s regulatory requirements and marks a significant step toward entering one of the world’s most promising gaming markets.
The notice enables the company to move forward with paying the licensing fee and submitting additional documentation, including proof of certification.
Meridianbet has already allocated the necessary funds to finalize the licensing payment and will now move forward with fulfilling all conditions to ensure its place on the list of licensed operators authorized to serve Brazilian customers beginning January 1, 2025.
“We are thrilled to be moving forward with an operating license in Brazil and are committed to swiftly meeting the final requirements set forth by the government,” said Brian Goodman, CEO of Golden Matrix Group. “The Brazilian market represents an extraordinary growth opportunity and a key milestone in our global expansion strategy. We are confident that entering the Brazilian market will lead to2025 being a transformational year for the company as we establish a strong presence in one of three most dynamic global growth markets. This milestone reinforces our strategy of entering regions with high growth potential while continuing to deliver gaming experiences that set new quality standards for the industry.”
Golden Matrix is committed to maintaining the highest standards of compliance and innovation, and intends to strengthen its presence in Brazil over the near and long term while continuing to deliver value to its stakeholders.
Compliance Updates
EGT obtained World Lottery Association Security Control Standard: 2020 Level 2 Certification
EGT is proud to announce that it is already a member of the World Lottery Association (WLA), having successfully attained certification under its security standard WLA Security Control Standard: 2020 (WLA-SCS:2020) Level 2. This standard defines the requirements for information and operational security, as well as ensuring the integrity of the activities in the lottery and sports betting industries.
The main subject of the certification is EGT’s VLT solutions. To receive this designation, the company completed a two-stage process. First, it covered the requirements of the international standard for information security management systems ISO/IEC 27001 at the end of 2023. After that, it met additional lottery-focused security requirements set by WLA.
Mr. Vladimir Dokov, CEO of EGT, commented: “This achievement recognizes EGT’s commitment to sustainable development. It reaffirms our position as a leader in information security and underscores our ongoing dedication to creating products that meet the criteria of international accrediting institutions.”
The post EGT obtained World Lottery Association Security Control Standard: 2020 Level 2 Certification appeared first on European Gaming Industry News.
The licence extends Thunderkick’s Danish content provision to 2029
Independent slots studio Thunderkick has obtained a B2B licence from the Danish Gambling Authority (Spillemyndigheden).
The new licence is valid from 1st January and will enable Thunderkick to continue distributing its games to Danish operators through to 2029.
Thunderkick is among the first game suppliers to be granted the newly introduced licence, allowing the studio to maintain and grow its market presence in the coming year.
The Stockholm-based company currently offers its games across several major regulated European markets, and the extension of its commercial operations in Denmark highlights Thunderkick’s dedication to becoming a prominent provider of distinctive content on its home continent.
Wan Kim, Chief Compliance Officer at Thunderkick, said: “Thunderkick continually strives to amplify its position in Europe, partnering with leading operators across target markets to enhance brand visibility and increase our player base.
“Obtaining a B2B licence has been a focus since the Danish Gambling Authority announced the new regulations earlier this year, and our application’s success emphasises the quality of Thunderkick products and our unwavering commitment to adhering to consistently updating regulations.
“The licence will facilitate our continued growth in Denmark, where some of the country’s biggest operators offer our unique content to local players.”
The post Thunderkick secures new Danish supplier licence appeared first on European Gaming Industry News.
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