Compliance Updates
Vivo Gaming celebrates Isle of Man approval in regulated market boost
Trio of live studios receive IoM Gambling Supervisory Commission (GSC) certification following successful GLI audit
Three of live casino software provider Vivo Gaming’s studios have been successfully audited by Gaming Laboratories International (GLI®) enabling it to distribute its certified products to Isle of Man Gambling Supervisory Commission (GSC) licensees and further strengthening its regulated market footprint.
Thanks to the successful audit, Vivo Gaming is already set to go live with its first Isle of Man-based operator, Ableton Prestige Global – which will see the supplier integrate its solution with the Europe and Asia-facing operator.
GLI provides suppliers, operators, and regulators with high quality testing and auditing services to meet or exceed regulatory standards with high confidence.
GLI, a GSC approved independent test lab, fully audited Vivo Gaming’s studios across LatAm (Colombia), Europe (Bulgaria) and Asia (Cambodia). The Live Studio Audit was performed with the intent of identifying any actual or potential instances of non-compliance, vulnerabilities, or weaknesses, and assuring that the confidentiality, integrity and availability of the information under Vivo Gaming control are preserved.
GLI’s successful completion of the audit will enable the supplier to partner with a growing list of Isle of Man licensees.
In total, the leading provider currently has more than 60 live dealer tables in operation across three continents supporting 150 customers, streaming 24/7 in Asian, LatAm and European styles. It offers baccarat, blackjack, roulette, poker and Dragon Tiger to name just a few products, all available in more than 27 languages and 178 currencies including multiple cryptocurrencies.
Vivo Gaming is also set to further benefit from the Isle of Man, Colombia and GLI 19 standards compliance with the ability to supply its live casino services across Colombian and Argentinian markets.
The Isle of Man is one of the most established and fastest growing regulated jurisdictions in the world. In March, the GSC reported its highest ever number (55) of new licences being processed, representing a 30% increase on the previous year.
Nadine Thys, Head of Account Management at Vivo Gaming said: “We are delighted to have successfully completed the audit process of three of our studios with flying colours. This allows us to open the first regulated live casino offering on the Isle of Man which is a huge milestone for us as a company and will take us to the next level as we rapidly grow our regulated footprint.
“The Isle of Man is booming as a jurisdiction and I know our thrilling package of globally facing content will strike a chord with all our new customers.”
James Illingworth, Vice President of Sales, EMEA at GLI, said: “GLI recognizes this marks an exciting time for Vivo Gaming and their Live Dealer enterprises. We enjoyed working with Vivo Gaming’s team who were found to be helpful and professional throughout the rigorous audit processes. We hope this will be the first step to further growth for both Vivo Gaming and the jurisdiction of the Isle of Man, and that GLI will have the opportunity to further support both.”
Compliance Updates
Montenegro’s evolving legal landscape: recent amendments and controversies in games of chance regulation
Montenegro’s Law on Games of Chance (the “Law”) was enacted in 2004 and has undergone multiple amendments since. The most recent ones came into effect on 1 January 2024.
The aim of the amendments, as stated by the competent authorities, is to ensure a sustainable regulatory system for organising games of chance via the internet or other telecommunication means, as well as to generate additional revenue from these activities. This objective is to be achieved through measures aimed at establishing a variable concession fee for the organisation of online games of chance, a provision not envisaged in the prior legal framework in this area. Another measure to achieve the set goal is to introduce a ban on participation in foreign games of chance via the internet and other telecommunication means for which bets are paid on the territory of Montenegro.
To achieve these objectives through the proposed measures, several amendments to the Law have been proposed and adopted:
- The concept of organising games of chance through the internet or other telecommunication means has been clearly defined for the first time.
- A ban has been introduced on participation in foreign games of chance for which bets are paid within the territory of Montenegro, regarding the organisation of internet betting. Therefore, the competent authorities are now obliged to restrict access to the websites of gaming organisers who accept payments for games of chance from players in Montenegro, through the blocking of IP addresses by an independent regulatory body in the field of electronic communications, as well as the prohibition of all types of payments to foreign organisers. Furthermore, the competent authority is required to maintain and publish a list of unauthorised online gaming organisers ex officio.
- A higher annual fixed fee per casino has been introduced, now amounting to EUR 100,000 instead of the previous EUR 50,000. Additionally, the variable fee for organising games of chance in casinos has increased from 10 % to 15 % of the base.
- A prohibition on organising games in residential-commercial buildings has been introduced.
- A new regulatory framework has been established for the organisation of games of chance on the internet. The most significant changes involve defining the conditions and methods of player registration and identification, as well as establishing the obligation to pay the variable portion of the concession fee for organising betting games of chance over the internet, as well as for organising games of chance in virtual casinos and online slot games. The fee is calculated at a rate of 10 % of the base, which consists of the total amount of stakes reduced by the value of payouts and is paid by the fifteenth of the month for the previous month. The fixed part of the concession fee amounts to EUR 10,000 for all the aforementioned types of games of chance organised over the internet. Additionally, with the introduction of the new Article 68f of the Law, it is stipulated that payments for organising games of chance over the internet can only be made through payment cards or at the premises where games of chance are organised in accordance with the Law.
The new legislative solution has not escaped scrutiny from interested market participants, especially regarding the controversial Article 68f. There has been particular attention in the public sphere to the reactions of associations of gaming organisers, which, through various reviews, have questioned the justification, sustainability and legality of the provision stipulating that payments for organising games of chance over the internet can only be made through payment cards or at the premises where games of chance are organised.
In response to the reaction of the association of gaming organisers, a petition was initiated, gathering over 25,000 signatures. An initiative was subsequently submitted to the Montenegrin Parliament to repeal Article 68f. In addition, another initiative was lodged with the Constitutional Court of Montenegro to review the constitutionality of Article 68f.
The competent authorities are currently processing these initiatives. Meanwhile, legal experts and the general public eagerly await more answers to these legally and practically intriguing questions in the coming period.
Source: schoenherr.eu
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Compliance Updates
Wisconsin Division of Gaming Awards Genius Sports Sports Betting Contractor License
Genius Sports Limited, the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, announced that it has been certified by the State of Wisconsin Division of Gaming as a gaming-related contractor with immediate effect.
With the addition of Wisconsin, Genius Sports now holds 50 licenses or equivalent, or is otherwise permitted to operate, in North America across the U.S. states, territories, tribes and Canada powering award-winning official data, streaming, and marketing solutions for leading sportsbooks and lotteries.
“We are honored that the State of Wisconsin Division of Gaming has authorized Genius Sports to provide state-licensed sportsbooks with access to our groundbreaking NFL products and media solutions. As the majority of U.S. states legalize sports betting, Genius Sports welcomes the opportunity to work with states like Wisconsin, on providing sports fans with our exclusive official NFL sports data-powered solutions for betting,” Mark Locke, CEO of Genius Sports, said.
Balkans
Bulgarian National Revenue Agency, the State Agency for National Security and the Gambling Operators Join Forces Against Money Laundering and Terrorist Financing
The Bulgarian National Revenue Agency, the Specialised Administrative Directorate “Financial Intelligence” of the State Agency for National Security and branch organisations of the organisers of gambling operators will join efforts against money laundering and the financing of terrorism. This became clear during a working meeting, which took place on March 20 at the invitation of the Director General of the National Revenue Agency Rumen Spetsov, and his deputy Georgy Dimov.
The participants discussed the possibilities for the branch organisations of gambling operators to monitor the implementation of measures against money laundering and the financing of terrorism by their members. The talks also discussed changes in normative and sub-normative acts regulating the activity in the sector, which would lead to better accountability and guaranteed protection of the public interest.
During the meeting, it was decided that representatives of the National Revenue Agency would discuss with the branch gambling organisations issues related to the implementation of normative and sub-normative acts, providing guidelines for the correct fulfilment of obligations by gambling operators.
“The National Revenue Agency is partner-oriented and is available to assist businesses in fulfilling their obligations by the current legislation. We highly value the commitment of industry gambling organizations in the prevention and effective fight against money laundering and terrorist financing,” said Rumen Spetsov – Director General of the National Revenue Agency.
The post Bulgarian National Revenue Agency, the State Agency for National Security and the Gambling Operators Join Forces Against Money Laundering and Terrorist Financing appeared first on European Gaming Industry News.
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