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Compliance Updates

Swifty Global’s New Innovative B2B Gaming Platform Undergoes GLI Certification

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Dear Cashmere Holding Company also known as Swifty Global (Swifty), is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products it develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the company’s proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platform.

Swifty Global is pleased to announce that it has started the certification process for its new innovative B2B gaming platform with Gaming Laboratories International (GLI), the gaming industry’s gold standard for testing and certification. Once fully certified, this endorsement will not only affirm Swifty’s ongoing commitment to the highest industry and regulatory standards, but will also underscore the continued exceptional quality of the company’s technology offering.

The newly developed B2B platform sits at the center of the Swifty Global scaling and growth strategy and will unlock a substantial new revenue stream for the business. The platform will operate on a Software-as-a-Service (SaaS) basis, combining a monthly subscription model with a revenue-sharing component and will enable Swifty clients to seamlessly integrate with the company’s state-of-the-art technology via a white-label solution.

‘‘Initiating the process for GLI certification marks a significant milestone for Swifty,’’ commented James Gibbons, CEO of Swifty Global. ‘‘While we’re at the beginning of this certification process for our B2B platform, reaching this stage not only marks the culmination of over a year’s rigorous development of the platform, but it also sets the stage for the next phase of our growth strategy. By securing the GLI endorsement, it will effectively certify our B2B platform readiness for deployment across the majority of European markets and with this in mind we have already taken proactive steps to comply with regulatory standards in key European markets in addition to Gibraltar, Isle of Man, and South Africa,” added Gibbons.

In line with this, Swifty is actively pursuing certification under South Africa’s SANS 1718 standard. Established by South Africa’s gambling regulator, this standard is a crucial step before the platform’s introduction and official launch in the South African market. ‘‘The Swifty team are working tirelessly behind the scenes in order to secure this license before the close of Q4 2023. I am confident this will be achieved and once accomplished, it will mark the expansion of Swifty Global into the lucrative $1.8 billion South African gambling sector,’’ said Gibbons.

Swifty Global anticipates a substantial increase in revenue generation over the next 6 months. This surge in revenue is expected to result from the ongoing international expansion of the company, as well as the introduction of its new B2B offering and the innovative business model through which this will be delivered to customers.

‘‘Swifty is now entering an exciting new phase where the groundwork and technological development of the new B2B platform, which has been underway behind the scenes for the last 12 months, is ready to take center stage,’’ commented Gibbons. ‘‘The introduction of this platform and the Software-as-a-Service (SaaS) subscription model heralds a new era for Swifty, introducing a recurring fee model that targets a fresh set of customers. This approach not only ensures a more predictable and sustainable revenue stream but also enhances our existing revenue model. I have no doubt that this will substantially boost our already impressive revenue and increase the company’s attractiveness even further from an investor perspective,” concluded Gibbons.

Australia

VGCCC Fines Werribee RSL for Self-exclusion Failures

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The Victorian Gambling and Casino Control Commission (VGCCC) has fined the Werribee RSL $30,000 for failing to prevent 2 self-excluded customers from gambling.

VGCCC CEO Suzy Neilan said: “This is the first time the VGCCC has taken disciplinary action against a club or hotel for self-exclusion breaches.

“Self-exclusion programs empower people to manage their gambling by registering to be temporarily or permanently blocked from entering gambling areas of clubs, pubs and casinos.

“By failing to respect a person’s decision to self-exclude, a venue may put customers who have decided to take a break from gambling, or quit altogether, at risk of experiencing gambling harm.”

In January 2024, the VGCCC received an anonymous tip-off that a self-excluded person entered the Werribee RSL gaming room and used the poker machines. The venue self-reported a second breach in May 2024, after realising a different customer had gambled at the venue on at least 4 occasions between February and May 2024.

Ms Neilan said: “Taking disciplinary action is the last resort. We would prefer venues take their harm minimisation responsibilities seriously by complying with their legal obligations, including through the effective implementation of tools like self-exclusion.

“Venues and their staff are the last line of defence for self-excluded customers, who should be able to trust that their decision to self-exclude will be respected. They must have the appropriate controls in place to prevent self-excluded people from entering gaming rooms.”

The VGCCC acknowledged that Werribee RSL cooperated with the investigations and has since taken steps to strengthen its procedures. These include improved and regular staff training, daily audits of the self-exclusion register and greater use of technology to identify self-excluded customers who attempt to enter the gaming room.

This remedial action was taken into consideration in determining the amount of the fine.

The post VGCCC Fines Werribee RSL for Self-exclusion Failures appeared first on European Gaming Industry News.

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Compliance Updates

Konami Gaming Awarded Gaming-related Vendor License in the UAE

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Konami Gaming Inc. announced successful completion of Gaming-related Vendor Licensing in the United Arab Emirates (UAE), a key emerging market for commercial gaming. Konami Gaming is among the first in the industry to be awarded a Gaming-Related Vendor License by the General Commercial Gaming Regulatory Authority (GCGRA), an independent entity of the UAE Federal Government with exclusive jurisdiction to regulate, license, and supervise all UAE commercial gaming activities. A leading global provider of casino games and casino management systems, Konami has been awarded official license to serve the UAE’s developing gaming market with its award-winning products and services.

“Since Konami Gaming’s inception, our global growth has been achieved with an unwavering commitment to compliance. As the United Arab Emirates expands its economy to the regulated commercial gaming space, Konami is dedicated to supporting this market with the same integrity, innovation, and excellence we bring to all 431 gaming jurisdictions we serve worldwide,” said Tom Jingoli, president & chief operating officer at Konami Gaming.

For a quarter century, casino players have enjoyed Konami Gaming’s slot machines for the Class III gaming space, in which game outcomes are determined by random number generators (RNG). The company has since expanded its world-famous casino entertainment to online gaming and a variety of central determination market sectors. Additionally, Konami Gaming has spent over 20 years delivering its industry-leading SYNKROS casino management system to some of the largest and most diverse gaming destinations on earth, with ultra-reliable 99.99% uptime.

The post Konami Gaming Awarded Gaming-related Vendor License in the UAE appeared first on European Gaming Industry News.

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Australia

ACMA: ReadyBet Breaches Gambling Self-exclusion Rules

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The Australian Communications and Media Authority (ACMA) has issued ReadyBet with a remedial direction after the company marketed to customers who had registered with BetStop – the National Self-Exclusion Register (NSER).

An ACMA investigation found ReadyBet sent 273 texts and push notifications from its mobile app to self-excluded individuals.

Separately, the company also failed to promote the NSER in 2342 push notifications despite it being mandatory to promote BetStop in any marketing electronic messages.

The ACMA issued the remedial direction so that ReadyBet takes action to prevent it breaching the rules in the future.

Under the remedial direction, ReadyBet must commission an independent review of its marketing systems, including its use of third-party suppliers.

ReadyBet must also engage a provider to deliver training to its staff to avoid messages being sent to self-excluded individuals.

The ACMA may seek civil penalties if ReadyBet does not comply with the remedial direction.

The post ACMA: ReadyBet Breaches Gambling Self-exclusion Rules appeared first on European Gaming Industry News.

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