Press Releases
MuchBetter Settles Outstanding Wallet Balances with EEA Customers Out of its Own Pocket as UAB PayrNet Continues to Withhold Customer Funds
MuchBetter has officially resumed service in Europe today after a lengthy disruption due to an investigation into its previous European partner (an electronic money institution that MuchBetter was an intermediary of), UAB PayrNet.
On June 22, 2023, the Bank of Lithuania made an announcement stating that it had decided to revoke UAB PayrNet’s license and initiate bankruptcy proceedings against it due to its severe and continuous regulatory breaches. This included anti-money laundering, reporting, safeguarding customers’ funds, sanctions and other requirements. The Bank of Lithuania also determined that due to revocation of the licence, UAB PayrNet must repay all customer funds within a given timeframe.
UAB PayrNet has since failed to settle with its customers by the August 22 deadline. MuchBetter’s legal team has made several concerted attempts to contact UAB PayrNet, all without success.
In keeping with the MuchBetter ethos of always putting its customers first and to ensure they do not suffer as a result of the UAB PayrNet issues, MuchBetter has chosen to settle the outstanding PayrNet balances of its European customers from its own funds. Settlements will be made via its new European partner with the final settlement figure expected to reach millions of euros.
The move showcases the financial strength of MuchBetter while also demonstrating it has fully invested in its return to the European market. It further expresses MuchBetter’s appreciation for its customers’ continued support and patience. MuchBetter shares its customers’ frustrations at such a lengthy process and decided to settle using its own company funds to prevent further disruption and provide reassurance to customers.
Once customers have accepted updated terms of service and agreements, MuchBetter customers in Europe will have access to both their accounts and previous account balances from before activity was paused in mid-February. More regulatory steps are required in some European countries, so while most customers can now access their funds, a few countries will have to wait a little longer. We will continue to keep our customers informed of developments.
With its return to Europe, MuchBetter has worked on improving the user experience of its digital wallet app, with further new and exciting features being delivered in coming months based on customer feedback and overall innovation.
“Now that the Bank of Lithuania’s investigation into UAB PayrNet has concluded, we are excited to be back operating in Europe,” a MuchBetter spokesperson said. “The Bank of Lithuania has confirmed that we had nothing to do with the UAB PayrNet investigation and we are relieved to now have this behind us. Most importantly, we’re glad we can help ease the worries of our European customers by settling their outstanding balances held by UAB PayrNet rather than waiting for UAB PayrNet to release their funds.
“We’d like to thank our customers for their patience and support and have some exciting things in the pipeline soon, including a loyalty programme.”
SolutionsHub is pleased to announce the appointment of James O’Kelly as Head of Corporate Development, a newly established role that underscores the company’s commitment to strategic growth, innovation, and excellence in client service.
Since joining SolutionsHub, James has been instrumental in driving key initiatives across the organization. Over the past 18 months, James has headed high-impact growth intiatives, managed treasury and led sucessful licensing for clients. His contributions have also extended to representing SolutionsHub on the international stage, enhancing the company’s global presence.
In his new role, James will take the lead on a range of high-impact strategic initiatives in close collaboration with the Board of Directors. His primary focus will be on identifying and cultivating key partnerships, as well as spearheading the development of innovative product lines that align with the company’s long-term vision. To fully dedicate his efforts to these forward-looking priorities, James will be transitioning responsibility for day-to-day operations and compliance to other senior members of the leadership team. This shift will enable him to concentrate on shaping the company’s future growth trajectory and ensuring its continued success.
“James has consistently demonstrated outstanding leadership and a deep understanding of our business and industry,” said Lee Hills, CEO of SolutionsHub. “His appointment as Head of Corporate Development is a natural evolution that aligns with our long-term strategic goals and further reinforces the strength of our leadership team.”
James will continue to play a pivotal role in advising and supporting clients through increasingly complex regulatory, licensing, and jurisdictional considerations. Leveraging his extensive experience and strong track record of delivering innovative, compliant, and forward-thinking solutions.
The post James O’Kelly Appointed Head of Corporate Development at SolutionsHub appeared first on European Gaming Industry News.
The studio is shortlisted for the “Brand of the Year – B2B” category
ELA Games, an innovative game development studio, has been shortlisted for the “Brand of the Year – B2B” category at the upcoming EGR Marketing & Innovation Awards 2025.
The EGR Marketing & Innovation Awards is an event that celebrates key figures and innovative brands within the iGaming industry. The ceremony recognises companies that demonstrate commercial success through game-changing creativity and contributions to the improvement of the industry. It gathers the brightest and most influential minds to reward those who have helped the online gaming sector grow.
ELA Games’ nomination for the “Brand of the Year – B2B” category highlights the company’s efforts in creating a portfolio that balances operator-centric growth with player-friendly gaming experiences. The studio has demonstrated a commitment to helping operators improve player acquisition and retention metrics through data-backed performance, making it a beneficial partner.
Marharyta Yerina, ELA Games’ Managing Director, commented on the nomination, “The ELA Games team is proud to receive a nomination for a significant category at a prestigious event. We’ve made considerable strides in 2025 to develop our portfolio and create games that both help operators grow and provide fun for players. We look forward to networking with all our peers at the ceremony, and congratulations to all nominees!”
The EGR Marketing & Innovation Awards 2025 will take place on June 19, 2025, at The Mermaid, London. The ELA Games team will attend the ceremony for a night of excitement, networking, and celebration.
The post ELA Games Receives Key Nomination at EGR Marketing & Innovation Awards appeared first on European Gaming Industry News.
Giorgia Kasat
Reals Appoints Giorgia Kasat as New Head of HR, Strengthening Organizational Strategy in the Betting Industry
Leading Brazilian Betting Brand Reals Welcomes Former Itaú and Votorantim Executive to Drive Human Capital Development
Reals, one of Brazil’s leading regulated online betting and gaming platforms, has announced the appointment of Giorgia Kasat as its new Head of Human Resources. With over 20 years of experience in strategic people management, organizational transformation, and leadership development, Giorgia brings a wealth of expertise from her roles at major corporations such as Votorantim, Banco Itaú, Duratex, Capgemini, and Munksjö.
Recognized as a finalist in the 2024 “Most Admired CEOs and HR Leaders” awards by Grupo Gestão RH, Giorgia also holds an Executive Business degree from Fundação Dom Cabral, an MBA in Business Management from Fundação Getúlio Vargas (FGV), and certification in Group Psychodrama from PUC-SP.
“We believe that a company’s success is directly linked to its ability to foster the best in its people within a healthy, growth-oriented environment. Giorgia’s human-centered leadership style drives engagement and positive results. As a serious and regulated company, professionalism is a core value for us, and her arrival is a strategic step in our organizational growth,” said Hilton Andrade, CFO of Reals.
Giorgia expressed enthusiasm about joining Reals at a pivotal moment for the company and the industry: “I’m excited to take on this new challenge with a major player in the betting and online gaming industry. My passion lies in developing people who go on to inspire and empower others. Together, we’ll build a strong culture of growth, diversity, and performance in a sector that is rapidly consolidating in Brazil and globally.”
Reals Expands Workforce and Strengthens Market Presence
Amid rapid expansion, Reals is in the process of hiring approximately 1500 new employees and preparing to move into a new 6,000 m² headquarters in São Paulo. Already a standout in the market, Reals made headlines earlier this year by becoming the first Brazilian betting operator to sponsor a major European football club, AC Milan, as its Official Regional Betting Partner for Latin America.
Reals also holds a master sponsorship with Coritiba Foot Ball Club in Brazil and boasts an all-star ambassador roster led by TV personality Rodrigo Faro, alongside popular influencers Ítalo Sena, Edu Primitivo, and Gabi Nery.
With a 9.5 rating on Reclame Aqui, Reals is among the top-rated licensed betting operators in Brazil, reinforcing its reputation for reliability and customer trust.
The post Reals Appoints Giorgia Kasat as New Head of HR, Strengthening Organizational Strategy in the Betting Industry appeared first on Gaming and Gambling Industry in the Americas.
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