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Compliance Updates

CMA: Spreadex required to sell Sporting Index

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An independent CMA panel has decided Spreadex should sell Sporting Index after finding the deal harmed competition for licensed online sports spread betting services.

The Competition and Markets Authority (CMA) has accepted the proposed sale of Sporting Index, to address the competition concerns it had found in the licensed online sports spread betting market, with some modifications and enhancements.

Last year, Spreadex acquired the ‘business-to-consumer’ business of Sporting Index from Sporting Group Holding Limited (Sporting Group). Spreadex and Sporting Index both provide sports fixed odds betting and sports spread betting services to customers based in the UK.

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Sports spread betting involves customers betting on a range of outcomes of sporting events rather than the standard ‘win or lose’ outcomes offered by fixed-odds betting. In spread betting, the closer a customer’s bet is to an outcome, the more money they stand to win, and the further away from the outcome they are, the more they stand to lose. This means that, in contrast to fixed odds betting, customers’ wins and losses could be far higher than the amount they bet.

After conducting an in-depth Phase 2 investigation into the deal, the CMA’s independent panel has concluded the deal created a monopoly in the UK licensed online sports spread betting market, eliminating competition in that market. The panel concluded that the merger could lead to a worse user experience, a more limited range of products and/or higher prices for consumers in the UK.

The panel has concluded that, with some modifications and enhancements, the sale remedy proposed by Spreadex is sufficient to remedy the competition concerns and restore competition in this market that is lost as a result of the deal.

The CMA now has 12 weeks to either accept Final Undertakings from Spreadex, or to make a Final Order requiring Spreadex, to sell Sporting Index to a suitable CMA-approved buyer.

Richard Feasey, the chair of the independent panel reviewing the merger, said:

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“This deal eliminates competition in the supply of licensed online sports spread betting services in the UK.

Sports spread betting – like any other market – needs competition to drive good customer experience, maintain choice and keep prices competitive. To achieve this, we have decided that Spreadex should sell Sporting Index, so that customers can choose between two firms for the best user experience and prices, rather than having to use only one. “

Further details are available on the SpreadEx / Sporting Index case page.

The post CMA: Spreadex required to sell Sporting Index appeared first on European Gaming Industry News.

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Compliance Updates

Booming Games Receives Danish License Approval

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Booming Games, a rapidly expanding provider of iGaming content, has successfully secured a Danish Gambling Authority (Spillemyndigheden) license, marking a major milestone in the company’s efforts to broaden its presence across Europe.

Booming Games has officially secured its B2B gaming license from the Danish Gambling Authority (DGA), enabling the company to supply its renowned content to licensed gambling operators across Denmark. Danish players can now enjoy popular titles such as Burning Classics, TNT Bonanza, Cash Pig, Buffalo Hold and Win Extreme, and Gold Gold Gold.

This achievement marks a significant milestone in Booming Games’ strategic expansion into the European market. By obtaining the DGA license, the company strengthens its position as a leading iGaming content provider and unlocks new opportunities within the region. With the Danish license complementing its existing portfolio of certifications, Booming Games is poised to deliver outstanding gaming experiences to players throughout Europe.

Frederik Niehusen, Chief Commercial Officer at Booming Games, said: “We are excited to announce the acquisition of our full Danish B2B gaming license. This milestone further expands our presence in the fast-growing Danish market. It positions us to leverage our strengths and enhance our product portfolio to meet our customers’ needs better.”

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Compliance Updates

Stakelogic Secures License to the newly regulated Danish market

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Industry-leading provider secures license to provide slots and live content in Denmark

Award-winning casino content provider Stakelogic has obtained a license from the Danish Gambling Authority, Spillemyndigheden, to provide its gaming content in Denmark.

The license will allow Stakelogic to bring its premium portfolio of online casino slots and live dealer content to the Danish market, including recent releases like Fire and Gold Cluster Breaker, Super Wheel Game Show, Trident of Legends, and The Watcher.

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Stakelogic is able to partner up with leading Danish operators, establishing itself as a must-have provider in the country. The move further highlights Stakelogic’s commitment to strengthening its position in the European market and exploring new and exciting regulated markets.

The license also further cements the company’s presence in the Scandinavian markets, having secured a license from the Swedish authority, Spelinspektionen, in 2023 and establishing itself as a popular provider among Swedish players.

Denmark is one of Europe’s fastest-growing markets, with a strong focus on customer care and responsible gambling. Stakelogic is proud to have met all the requirements needed to obtain the license, highlighting its commitment to providing players with the best and safest gaming experiences.

Stephan van den Oetelaar, CEO at Stakelogic, said: “Denmark is one of the fastest growing markets in Europe, and we are proud to have achieved a license to the newly regulated market.

We are grateful to Spillemyndigheden for their support in us and we are excited to take our next steps into the market.”

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Compliance Updates

UKGC Appoints Charles Counsell OBE as Interim Chair

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Charles Counsell OBE has been appointed as Interim Chair of the UK Gambling Commission (UKGC) for a nine month term which will commence on 1 February 2025.

Charles was Chief Executive Officer of The Pensions Regulator from April 2019 to March 2023. Prior to this he was CEO of the Money Advice Service, and Executive Director of Automatic Enrolment at The Pensions Regulator.

As CEO of The Pensions Regulator, Charles developed the new corporate strategy to put the pension saver at the heart of the Regulator. He delivered their first Equality, Diversity and Inclusion Strategy and Climate Change strategies – both focused on driving change in the regulator and across the Pensions Sector.

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Throughout his career, his roles have focused on setting up and delivering large change programmes requiring significant stakeholder relationship engagement: initially in the private sector and latterly in senior public sector appointments.

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