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Compliance Updates

Vixio Releases 2024 Artificial Intelligence Outlook

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Based on Vixio analysis of recent regulatory events and market data, this report provides high-level intelligence on the global regulatory changes affecting AI

Vixio, a leading provider of regulatory intelligence solutions, has released the 2024 Artificial Intelligence (AI) Outlook report, covering global trends in AI regulation and adoption in the payments and gambling industries.

AI regulatory developments have popped up across the globe in the last year, with Western Europe leading the way with the most updates. According to the Vixio AI Outlook report, the UK and EU have released over 40 updates in AI regulation since 2023.

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Specific jurisdictions that have taken notable steps to regulate the use of AI include Canada, the EU, Hong Kong, Spain, and the UK. Several jurisdictions have regulatory developments in progress, including Argentina, Australia, Brazil, Chile, Colombia, France, Luxembourg, Malta, South Africa and Uruguay. In contrast, other jurisdictions, such as the US, have released guidance and best practices.

“Right now, regulators are in a nascent stage surrounding AI regulation. However, as businesses increasingly explore the adoption of AI, regulators will follow suit,” explains John Gidla, Head of PaymentsCompliance at Vixio. “But, at this stage, governments and regulators are watching the development of AI and looking to better understand potential opportunities and threats, and trying to balance the fine line between consumer protection and innovation.” 

In the payments industry, regulators are observing how AI is being used by payments and banking institutions. The full report includes case studies of AI implementation in FinTechs like Revolut, Mastercard, Visa and more. Some of the opportunities surrounding AI in the payments industry include:

  • allowing quicker fraud detection by analysing transaction patterns to detect unusual behavior in real time
  • predicting future behavior, allowing for highly target marketing campaigns
  • detecting cyber threats and weaknesses that could lead to a cyberattack

In the gambling industry, the top use cases of AI for regulators is reducing workload in areas such as annual audits of licenses. For gambling operators and suppliers, top use cases include:

  • improving personalization by analysing a player’s history
  • identifying risky behaviours, allowing operators to encourage responsible gambling
  • automating early intervention messages to customers exhibiting potentially harmful behaviour

This report is part of Vixio’s Outlook series, which provides subscribers with forward-looking insights and consolidated research on key segments of the global gambling and payments industries. This edition is designed to provide high-level intelligence and forecasts surrounding the use, development and regulatory changes affecting artificial intelligence (AI), with a focus on the payments and gambling markets.

The post Vixio Releases 2024 Artificial Intelligence Outlook appeared first on European Gaming Industry News.

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Compliance Updates

Play’n GO celebrates award of Malta Gaming Authority ESG-C Seal

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Swedish gaming giant the only B2B company awarded Tier 2 seal in recognition of “aspirational level” of ESG reporting 

Play’n GO, the world’s leading casino entertainment provider, has today announced it has received the Malta Gaming Authority’s ESG-C Tier 2 Seal in recognition of its efforts and reporting of ESG activities.  

Earlier this year, the legendary games studio released its 2023 Sustainability Report, outlining its commitment to a sustainable future, both for the iGaming industry and the planet as a whole. The report covered everything from Play’n GO’s commitments to “Net Zero”, greener working practices, and the company’s “Culture of Belonging” in a Digital First world. 

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Play’n GO recently became the only iGaming business to be nominated at the 2024 Corporate Star Awards, where its Sustainability Report was recognised alongside global leaders such as SONY Entertainment and Globo.  

Vanessa Arenram, CSR Director at Play’n GO, commented “We’re pleased to have our commitment to a sustainable world recognised in this way by the Malta Gaming Authority. Our commitment to Corporate Social Responsibility goes far beyond mere words- it’s reflected in our actions, initiatives, and the positive impact we strive to create, both within our industry and the wider world. Our 2023 Sustainability Report received very positive feedback, both internally and externally, and we look forward to publishing the 2024 version early next year. We would like to thank the Malta Gaming Authority for this award, and pledge to continue the work for many years to come.” 

The post Play’n GO celebrates award of Malta Gaming Authority ESG-C Seal appeared first on European Gaming Industry News.

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Compliance Updates

MGA Publishes Skills Gap Report, Unveiling Insights into Workforce Trends and Industry Challenges

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The Malta Gaming Authority (MGA) has released its latest report analysing the skills gap in the online gaming industry, based on surveys conducted between 2020 and 2024. The findings, reflecting data from 2019 to 2023, provide valuable insights into workforce trends, challenges, and opportunities across MGA-licensed activities in Malta.

Key Findings from the Report

Positive Labour Market Dynamics

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75.8% of surveyed respondents rated Malta positively in areas such as labour market trends, skills availability, and training opportunities when compared to other jurisdictions.

Vacancy Trends in 2023

At the end of 2023, 74.9% of job vacancies had been open for less than three months.

There were 92.5 vacancies per 1000 employees in MGA-licensed activities, with a total of 885 open positions reported by online gaming companies in Malta.

Vacancy Breakdown by Level

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79.2% of open positions were at the operational level.

18.8% were at middle management, while top management roles accounted for 2.0% of total vacancies.

Roles in Demand

Marketing roles (including customer care) represented 21.1% of vacancies, while technology-related positions made up 16.8%.

Top Barriers to Recruitment

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The most common reasons for unfilled vacancies over the reporting period were:

Lack of work experience.

Competition from other firms.

Insufficient qualifications.

Recruitment Trends in 2023

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84.9% of surveyed firms hired personnel from other companies within the industry.

Only 25.8% recruited directly from university graduates, underscoring the need for better alignment between educational programmes and industry needs.

Addressing Skills Gaps

71.7% of firms implemented in-house training or mentoring programmes to address skill shortages.

55.4% intensified employee retention efforts as a strategy to close skills gaps.

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MGA CEO, Charles Mizzi, commented on the report’s findings:

“As Malta’s gaming industry evolves, it is essential to adapt and strengthen the foundations that support its success.”

“The Skills Gap Report reveals important insights into the challenges and opportunities ahead, particularly the need for targeted skills development and stronger partnerships between educational institutions and industry. By addressing these priorities, we can ensure sustainable growth and maintain Malta’s leadership in the global gaming ecosystem.”

The post MGA Publishes Skills Gap Report, Unveiling Insights into Workforce Trends and Industry Challenges appeared first on European Gaming Industry News.

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VGCCC: Shepparton Hotel Operator Fined $100,000

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Goulburn Valley Hotel (GVH) Shepparton Pty Ltd has been issued a $100,000 fine for providing false information to the Victorian Gambling and Casino Control Commission (VGCCC).

In November 2022, GVH applied for a licence to operate 40 poker machines at the Shepparton hotel but did not disclose that the licence nominee had been found guilty of 2 counts of negligently dealing with the proceeds of crime, without conviction, in June 2022.

VGCCC CEO Annette Kimmitt AM said it is a requirement under the Gambling Regulation Act 2003 (Vic) that criminal offending is disclosed as part of the licence application process.

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“By providing wrong information, an applicant impedes the regulator from fully assessing their suitability to hold a licence,” she said.

“We expect applicants to abide by the law and provide complete and accurate information. This is a critical part of ensuring that the gambling industry operates with safety and integrity and is free from criminal influence or exploitation.”

Ms Kimmitt said GVH’s cooperation with the investigation was taken into account in determining the fine.

“The $100,000 fine reflects the severity of the offence and should demonstrate to other applicants and operators that we’re serious about compliance with legal obligations.”

Additional licence and reporting conditions have been applied to GVH and another venue operator licence associated with the nominee, Pan Hotels Pty Ltd.

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The post VGCCC: Shepparton Hotel Operator Fined $100,000 appeared first on European Gaming Industry News.

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