Compliance Updates
LexisNexis Risk Solutions Aligns with Radar to Deliver Gaming and Gambling Regulatory Compliance
LexisNexis Risk Solutions announced a strategic alliance with Radar, a recognized leader in geofencing technology. This collaboration integrates Radar’s robust geofencing, mapping and geo-compliance capabilities with the advanced data and technology from LexisNexis Risk Solutions. Together, they will deliver a robust solution for gaming and gambling operators, that will help ensure that devices used for online gambling in the US comply with applicable state regulations.
This alliance emerges at a pivotal time for the gaming and gambling sector, which is experiencing record-breaking revenue of more than $66 billion annually, marking a 10.3% YOY increase, according to the American Gaming Association (AGA). This growth has driven the development of new regulations aimed at preventing law circumvention and addressing unregulated electronic gaming devices, which the AGA says generate an estimated annual revenue of up to $44.2 billion.
Currently, 38 US states plus the District of Columbia have legalized mobile gambling, with more states considering the legalization of various forms of online betting. The regulatory landscape is complex, with each state having its own set of rules and considerations for gambling and gaming companies operating within its jurisdiction.
LexisNexis Risk Solutions and Radar are collaborating to develop a suite of products and tools designed to help ensure that devices are within the appropriate legal jurisdictions, whether that be state boundaries, sports arenas, tribal lands, casino floors or other venues. Combined with capabilities in know your customer (KYC), one-time passcodes, fraud prevention, compliance and payments from LexisNexis Risk Solutions, this alliance will enable operators to manage the entire customer lifecycle seamlessly with singular alignment.
“LexisNexis Risk Solutions provides the tools gaming and gambling operators need today to mitigate fraud, identify risk and help ensure compliance. By aligning with Radar, we can offer those protections throughout the entire customer lifecycle. The collaboration is timely, as the industry navigates a period of rapid expansion and increased regulations. It represents a proactive approach to addressing the challenges of regulatory compliance in the rapidly evolving landscape of online gaming and gambling,” said Sean Britt, senior director at LexisNexis Risk Solutions.
“Radar’s extensive expertise in location-based products, coupled with our proprietary algorithms and robust reporting, aligns perfectly with the risk mitigation knowledge and solutions from LexisNexis Risk Solutions. We are excited to provide our tools and services to gaming and gambling operators, simplifying their compliance processes,” said Nick Patrick, co-founder and CEO of Radar.
Meridianbet, part of the Golden Matrix Group, Inc., a leading online sports betting and iGaming company, has announced a strategic partnership with Integrity Compliance 360 (“IC360”), a prominent U.S.-based global sports integrity service provider.
The partnership comes as Meridianbet’s Brazilian subsidiary, Meridian Gaming Brasil SPE, progresses in the licensing process for its entry into the Brazilian market, and will reinforce the Company’s commitment to upholding the highest standards of integrity for its sports offering in line with global regulatory expectations and market best practices.
The license application, filed under request number 56.195.600/0001-07, positions Meridianbet among a select group of global operators set to participate in one of the most highly anticipated market launches in the global sports betting and iGaming industry.
“Our partnership with IC360 underscores our dedication to maintaining the highest levels of integrity and transparency in all markets we operate in, including Brazil,” said Zoran Milosevic, CEO of Meridianbet. “As we move closer to securing our license, this collaboration will ensure that we are fully equipped to meet the expectations of both regulatory bodies and our players in the world’s fastest-growing emerging betting and iGaming market.”
“Brazil is expected to become the third-largest gaming market in the world, and this opportunity marks another key milestone for Golden Matrix, and further endorses our commitment to being a major player in the Brazilian Gaming Market” said Brian Goodman, CEO of Golden Matrix Group. “Brazil’s multifaceted approval process reflects the complexity and scale of this market, and we are excited about the tremendous potential that lies ahead. We aim to leverage our extensive international experience, advanced technology and innovative betting solutions to cater to the unique preferences of Brazilian customers, and our partnership with IC360 will help ensure we’re doing it both ethically and responsibly.”
“Meridianbet is one of the best-positioned players in the Brazilian sports betting market,” said Scott Sadin, COO of IC360. “We are excited to work with the experts of the local market who understand the importance of integrity. It is our privilege to provide them with the tools needed to create an even stronger culture of transparency, that together can be modeled and shared with Meridianbet’s international reach.”
Meridianbet’s partnership with IC360 comes at a critical time for the Brazilian market, as it undergoes regulatory transformation and positions itself as a global leader in the iGaming and sports betting industry.
Meridianbet’s application includes both sports betting and iGaming (online casino) under Brazil’s comprehensive licensing regime, positioning it as one of the few operators able to offer a full suite of gaming experiences to Brazilian players.
The Brazilian gambling industry is projected to generate $34 billion in sports betting turnover by 2028, with an onshore gross win of $2.8 billion, according to a report by the International Betting Integrity Association (IBIA).
Digitain, a leading provider of iGaming solutions, is thrilled to announce that it has successfully obtained the UK gambling licence. This significant milestone not only strengthens Digitain’s operations but also broadens its reach across continental Europe, further solidifying its position within the iGaming industry.
By meeting the UK’s stringent regulatory standards and receiving a licence from the UK Gambling Commission, Digitain demonstrates its dedication to responsible gaming and compliance. The newly obtained licence opens up new opportunities for the company to introduce its diverse products and solutions in one of the most competitive iGaming markets. With a strong foothold in the UK, Digitain is ready to deliver tailored gaming experiences that cater to local needs and preferences.
Additionally, the acquisition of the UK licence underscores Digitain’s strategic vision for growth. The company is committed to investing in its technology and resources to enhance operational capabilities, ensuring that partners receive the highest level of support.
Digitain is dedicated to developing diverse gaming solutions that not only meet market demands but also set new industry standards.
The post Digitain Secures UK Gambling Licence appeared first on European Gaming Industry News.
Galaxsys, one of the most innovative game developers in recent years, is proud to announce their games licensing in the United Kingdom. It’s an essential step in Galaxsys brand recognition and a milestone in their expansion in more and more regulated markets. It also reaffirms the company’s ability to deliver secure, high-quality, and responsible experiences to all players.
This newly-acquired UK licence is a reward for the company’s commitment to the most strict regulatory standards. Thanks to this licence, Galaxsys can now offer some of its most entertaining titles to UK operators and solidify its presence in Western Europe. Galaxsys will be able to offer the following games:
Cash Show
BlackJack
Crash
Penalty
Rocketon
Golden RA
Crasher
Plinkoman
This licensing in the UK is an integral part of Galaxsys’ strategy, which consists of expanding its reach in regulated markets all around the world. As they keep creating games adhering to the industry’s highest security standard with qualitative and innovative experience, while promoting responsible gaming, Galaxsys keeps getting recognition in the eyes of regulators. This allows them to provide one-of-a-kind gaming experiences players can enjoy and trust.
The post Galaxsys Games Are Now Available in the UK appeared first on European Gaming Industry News.
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