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Compliance Updates

Swedish Gambling Authority decides on warning and sanction fee for LeoVegas

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LeoVegas was today issued a warning and sanction fee of SEK 2M  (cca: 195K Euro) by the Swedish Gambling Authority. According to the regulator, the company is considered to have been in breach of certain customer due diligence routines with respect to its Swedish customers, during the first year of the Swedish market being regulated (2019). LeoVegas intends to appeal the decision.

The Swedish Gambling Authority today announced a decision to issue LeoVegas Gaming plc a warning and sanction fee of SEK 2M pertaining to a supervisory case from 2019 concerning the company’s customer due diligence routines for Swedish customers. According to the case, the Swedish Gambling Authority has only reviewed the company’s routines in 2019.

LeoVegas is continually developing its policies to ensure compliance and had already before today’s decision changed and updated its customer due diligence routines.

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LeoVegas intends to appeal today’s decision in order to allow a court to review the matter and give the entire industry further guidance on how the current regulation is to be interpreted.

LeoVegas has 14 brands and licences in eight separate jurisdictions. Each year the company is subject to numerous audits and reviews by local supervisory authorities and external auditors. Compliance has top priority at LeoVegas and is an area that the company is continually developing in order to meet the requirements that the regulators – but also the company itself – puts on its operations.

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Compliance Updates

Elys BMG Group Announces Approval for The Ugly Mug Sportsbook in Washington, DC.

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Elys BMG Group announced that The Ugly Mug in Washington D.C. has been granted provisional approval from the District of Columbia Office of Lottery and Gaming Regulation and Oversight Division (DCOLG) to open its sportsbook at 723 8th St. SE. As the fourth privately owned sportsbook venue in the District powered by Elys’ innovative Gameboard betting technology, The Ugly Mug stands as a testament to Elys’ commitment to bringing cutting-edge solutions to local businesses and sports enthusiasts.

The grand opening for The Ugly Mug sportsbook is anticipated to occur during the week of April 27th. Elys will unveil the grand opening festivities, promotions, and events as the date draws closer.

With easy access to sports wagering and a classic American menu in a relaxed setting, The Ugly Mug sportsbook is set to become a premier destination in the Navy Yard region of Washington D.C. and is another step forward for Elys becoming the leading betting technology provider for neighborhood sportsbooks in the US.

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Compliance Updates

GoldenRace is now certified in the Netherlands

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GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently obtained a certification for its highly acclaimed Virtual Sports and Games in the Dutch market.

GoldenRace successfully navigated the stringent regulatory landscape of the Netherlands, and now will be providing its impressive betting products into the Online Dutch market, which will be an important advancement in our operational expansion.

The Netherlands betting scene is on the cusp of a substantial growth phase and with GoldenRace’s latest certification, we introduce to the Dutch market a range of highly popular games tailored to desktop and mobile, in both scheduled and on-demand modes.

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Among the offer, players will enjoy our most-played Virtual Football line-up – including Football Single, Leagues, World Cup and Euro Champions-, adrenaline-pumping 3×3 Basketball and MMA and top-notch races as Horse Racing, Greyhound Racing and Grand Prix Indianapolis 60. Last but not least, our Number Games, such as Spin2Win. All ready to captivate Dutch players.

The post GoldenRace is now certified in the Netherlands appeared first on European Gaming Industry News.

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Compliance Updates

MGA: Update to the Incident Reporting Requirements

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The Malta Gaming Authority would like to inform its licensees of updates made to the Incident Report mechanism available through the Licensee Portal The information hereunder outlines relevant guidance and procedures for the submission of an Incident Report through the updated reporting instrument entitled the ‘Technical – Information Security Incident’.

As mandated by Articles 37(2)(c) and (d) of the Gaming Authorisations and Compliance Directive (Directive 3 of 2018), “Licensees shall notify the Authority forthwith, and in any case no later than three (3) working days after, the following:

(c) Any breach of the licensee’s information security that adversely affects the confidentiality of information relating to players;

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(d) Any breach of the licensee’s information security that precludes players from accessing their accounts for a period exceeding twelve (12) hours.”

In this regard, Licensees are obliged to submit an Incident Report in order to notify the Authority of the circumstances relating to an information security breach that meet the above specified criteria. Additionally, Licensees are advised to remain mindful of any further obligations emanating from the General Data Protection Regulation (EU/2016/679) and any relevant legislation.

The Technical – Information Security Incident option will be accessible through the “New/Change” dropdown menu via the Portal. Upon selection, users will be directed to the applicable sections of the ‘Technical – Information Security Incident’ where all compulsory fields and any relevant documentation must be submitted to the Authority.

Upon submission, the Incident Report shall undergo review by the Authority. Any missing information that may be identified by the Authority, shall be requested accordingly from the Licensee. It is imperative that any pending clarifications are addressed in a timely manner.

If no further clarifications are deemed necessary by the Authority, the Incident Report will be closed off accordingly, and any relevant documentation will be securely filed for record-keeping purposes.

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Any Incident Reports left in ‘Draft’ form (i.e. opened but not effectively submitted) for a period of ninety (90) days shall be automatically discarded.

The post MGA: Update to the Incident Reporting Requirements appeared first on European Gaming Industry News.

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