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Compliance Updates

Betway Joins EGBA’s Anti-Money Laundering Guidelines

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Betway has become the first brand outside of EGBA’s membership to sign up to the organisation’s pan-European guidelines on anti-money laundering.

The European Gaming and Betting Association (EGBA) is pleased to announce that leading global online betting and gaming brand Betway has joined its pan-European anti-money laundering guidelines. By signing up to the initiative, Betway underlines its commitment to combatting money laundering in Europe’s online gambling sector.

As the leading trade association at European-level for the online gambling sector, EGBA developed the guidelines to strengthen the sector’s efforts in fighting financial crime and ensuring compliance with the latest anti-money laundering regulations in the EU. The guidelines, published in March 2023, provide practical and sector-specific recommendations for operators in areas such as, amongst others, customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, and record-keeping.

The guidelines employ a risk-based approach to assist operators in complying with the various anti-money laundering rules in the EU, including the EU’s forthcoming AML Regulation. They were designed by a team of EGBA’s top compliance experts with consideration to both current best practices and future developments in the field.

All EGBA members must apply the guidelines automatically. As part of their participation, Betway will be required to provide yearly reports to EGBA summarising its progress in implementing the guidelines. This reporting system ensures transparency and accountability among all participating companies and provides a mechanism for tracking progress in implementing the guidelines. All participants will also meet annually to discuss progress in implementing the guidelines and consider any revisions that may be needed.

“Betway is proud to announce its full commitment to joining and adhering to the EGBA AML Guidelines and will work closely with EGBA and other industry partners to exchange best practice and strengthen collective efforts against money laundering and financial crime.” – Anthony Werkman, CEO of Betway.

“We’re delighted to have Betway join our anti-money laundering guidelines. Its decision to join shows its commitment to upholding the highest AML compliance standards. We’re determined to encourage the uptake of the guidelines among other operators who aren’t currently members of EGBA and invite interested operators to contact us. Only by working together, across the sector, can we truly raise the bar in AML standards.” – Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs at EGBA.

Anastasia Rimskaya

Aviatrix receives certifications in Brazil

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The award-winning crash game Aviatrix has received certification for Brazil’s online gaming market, ensuring full compliance in the market.

Aviatrix has been granted full Federal Certification to offer its games via licensed operators in the country. Meanwhile, Aviatrix has also acquired a dedicated certification for the state of Paraná.

This means Brazilian players can now enjoy the most innovative crash game on the market –  one that has already gained a loyal following across Latin America.

Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “This is a huge milestone for Aviatrix. Brazil is one of the most exciting, newly-regulated markets in the world. There is massive demand for high-quality content, and that’s why we know Aviatrix is going to thrive. We’re looking forward to bringing the game to the country via some world-class partners. Get ready for takeoff.”

Aviatrix has been rapidly expanding in Latin America over recent months, including in Peru and Colombia.

The company was also named ‘Rising Star in Casino’ at last year’s SBC Awards Latinoamérica.

The post Aviatrix receives certifications in Brazil appeared first on Gaming and Gambling Industry in the Americas.

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Readen Holding Corp Finalises Acquisition of Morrich Lottery Limited

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Readen Holding Corporation, a venture capital specialising in Fintech, Digital Payments and E-commerce, has announced the successful signing of the final agreement to acquire an 80% controlling stake in Morrich Lottery Limited, a fully licensed lottery operator in Nigeria. This milestone marks RHCO’s official entry into the African gaming market — one of the fastest-growing and most promising sectors globally.

With the closing of this acquisition, RHCO now holds active licenses in Nigeria for lottery, sportsbook and casino operations, unlocking access to an estimated $2.5 billion gaming market projected to grow over 9% annually through 2030. This move positions RHCO to become a major international force in regulated gaming, entertainment and fintech infrastructure.

Ridzky Berg, CEO of RHCO, said: “This is more than an acquisition — it’s a strategic launchpad into one of the most dynamic gaming markets in the world. Nigeria’s youthful population, expanding internet access, and growing appetite for digital gaming make this a prime market. With our proven fintech backbone and seasoned leadership, we’re ready to set a new standard for integrated, secure, and user-friendly gaming platforms across the region.”

The post Readen Holding Corp Finalises Acquisition of Morrich Lottery Limited appeared first on European Gaming Industry News.

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Compliance Updates

Swedish Regulator Imposes Fine of SEK12M on Videoslots

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The Swedish gambling regulator, Spelinspektionen, has fined Videoslots SEK12m (£937,016) for failing to help customers better manage their gambling behaviour when it had reason to do so.

The regulator said that the company did not take sufficiently effective measures to intervene on excessive gaming and “did not act promptly enough.”

The fine, along with a formal warning, comes after a Spelinspektionen investigation into Videoslots’ customer activity in spring last year. The regulator found that the company breached its duty of care obligations.

Twelve customers’ gaming behaviour was analysed, with the regulator concluding that their gambling patterns, deposit behaviours and “significant losses” were among the “multiple indicators” that the customers engaged in excessive gaming.

A number of the 12 customers returned to Videoslots’ platform to play “multiple times” during the day or play “continuously for many hours.”

The regulator said all of the customers had “very high deposit limits.” Three had limits of SEK1m (£78,164), one had a limit of SEK4.5m (£351,912) and another player’s limit was SEK300m (£23.5m).

All customers deposited “large amounts” during the review period, Spelinspektionen said, including one who deposited SEK1.8m (£140,785) and another who deposited SEK1.3m (£101,721).

“Several customers exhibited a deposit pattern where withdrawn amounts were deposited again shortly after being withdrawn,” the regulator said.

“For several customers, there were also a large number of deposits in a short period. Some customers regularly made multiple deposits per gambling day… and one customer had days with up to 28 deposits.”

“In light of the above, Spelinspektionen assesses that all the customers have engaged in excessive gambling during the review period,” the regulator concluded.

“The company has pointed out that individual indicators, on their own, may not necessarily be signs of excessive gambling. According to Spelinspektionen, all the above-mentioned indicators are signs of excessive gambling, and the overall assessment of all indicators forms the basis for the conclusion.”

The post Swedish Regulator Imposes Fine of SEK12M on Videoslots appeared first on European Gaming Industry News.

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