Month: July 2023

In the role, Drake will lead all financial operations at GeoComply including financial planning, budgeting and capital management.

Drake joins GeoComply from Amazon Web Services (AWS), part of the wider Amazon group of companies. Here, she served in a number of senior, finance-based roles.

Prior to this, Drake spent five years at Amazon, including two years as finance manager for Kindle. She also worked in finance roles at Intel and Millennium Challenge Corporation.

Meanwhile, Schaefer will take up the position of CHRO at GeoComply. Here, Schaefer will lead GeoComply’s human resources strategy, focusing on talent acquisition, development, and engagement. 

Schaefer has a background in human resources leadership having worked across talent management, organisational development and employee engagement during her career.

The double appointment means women now account for over 60% of the GeoComply leadership team. 

“We are thrilled to welcome Lindsey and Kelly to the GeoComply team,” GeoComply chief executive Anna Sainsbury said. “Their extensive expertise and leadership in their respective fields will be instrumental in guiding our financial strategy and strengthening our talent capabilities. 

“As we continue to expand our market presence and develop ground-breaking cybersecurity solutions, their contributions will be critical in driving our growth and further solidifying our position as a global leader.”

The appointments come after GeoComply completed its first acquisition with the purchase of compliance and licensing management company OneComply.

GeoComply’s co-founder and director, special projects, David Briggs, recently spoke with iGB about the deal and the company’s wider growth strategy. 

Spelinspektionen gave Zimpler until 31 July to cease providing payment services containing BankID to operators without a licence. 

Should Zimpler fail to comply with the order, the regulator said that it would issue a fine of SEK25.0m (£1.8m/€2.1m/$2.3m).

“Swedish gambling regulations are based on the fact that everyone who operates in the market must have a licence and those without a licence must be shut out,” Spelinspektionen said. “The aim is for all gambling to be channelled to offers from responsible, reliable and controllable operators. 

“Since 1 January, it is not permitted to promote participation in games that are provided without the necessary licence in professional activities or otherwise for gainful purposes.”

Regulatory decision

In its injunction ruling, Spelinspektionen said the decision to take action against Zimpler was based on the provider’s use of BankID in transactions with unlicensed operators. BankID is an e-identification service that is only used by customers in Sweden.

According to Spelinspektionen, the use of BankID in the transactions proved the operators in question were illegally targeting Swedish players. The regulator did not disclose the identity of any of the operators involved, but it said it launched an investigation after an anonymous tip.

In its response to the case, Zimpler said it did not believe its actions to be in breach of law in Sweden. However, it also said it would terminate its relationships with unlicensed websites that accept Swedish customers.

Zimpler stated it has already begun this process and aims to conclude the withdrawal of services by the third quarter at the latest. 

Zimpler responds

However, the provider also said it was not aware the operators lacked the relevant licence. Zimpler said it is a question of overall assessment as to whether individual sites are designed to target Swedish players. 

Zimpler added that none of its customers can be found on Spelinspektionen’s list of brands that it deems to be illegally targeting the Swedish market.

“The payment service solutions that Zimpler provides to these customers are not specifically adapted for gaming companies, but are provided to all customers in all segments,” Zimpler said in its response. “The payment service solutions must therefore be seen as a normal payment task.

“As part of its process for approving new customers, Zimpler takes a large number of measures to ensure regulatory compliance. We have the right to terminate a business relationship if anything comes to light that indicates that the customer is targeting Sweden without a Swedish licence.”

However, Spelinspektionen said it was clear Zimpler has a close collaboration with operators that do not have a licence, but which target the Swedish market. It said these companies use Zimpler’s payment service solutions in the Swedish market and, as such, Zimpler promoted unlicensed activity.

Concerns over unlicensed operators

The ruling comes after a report by Sweden’s Online Gaming Industry Association (BOS) revealed 77% of Sweden’s online gaming market is channelised. This, the BOS said, was “critically low” and called for action to be taken.

Sweden’s channelisation goal – the percentage of licensed gaming offerings that it wishes to have on the market – is currently set at 90%.

Gustaf Hoffstedt, secretary-general at BOS, said there is “no doubt” the Swedish licensing system is in a serious situation. 

“Far too much power has been spent on the part of the state to force the licensed gambling companies to implement measures that have not been well received by gambling consumers,” Hoffstedt said.

Extra powers

To help combat illegal activity, the Swedish government handed Spelinspektionen a range of new measures .

The changes primarily related to payment providers and Spelinspektionen’s regulatory powers in this area. Payment providers must now submit certain information to Spelinspektionen. 

Information now required includes details on whether their systems are being used to process payments to and from unlicensed operators in Sweden.

At the time, the government said that the changes would enable a more efficient system for blocking payments. It also said this would allow the regulator and payment providers to work together to combat unlicensed gambling.

Earlier this month, Spelinspektionen also began to obligate owners of supplier licences to pay fees. Effective from 1 July, Spelinspektionen charges a fixed fee to the organisation that holds a licence to supply gaming software to operators in Sweden.

The regulator requires businesses to pay a separate fee for each licence it holds unless it receives a specific exemption.

Also last month, it was announced Swedish lawmakers will consider a proposal to increase penalty fees for gambling operators that breach the country’s Money Laundering Act.

If approved, the proposal would adjust penalties to the same maximum amount for violations of the Gambling Act.

The deal runs to the end of the 2027-28 season, with Genius to retain exclusivity over official NFL data and video distribution.

This includes play-by-play statistics, proprietary Next Gen Stats (NGS) data and official sports betting data. Genius will continue to distribute this to media companies and sports betting operators around the world.

Genius began working with the NFL in 2021 and now powers over 98% of the legal US sports betting market with official NFL data.

The deal also covers exclusive rights to distribute NFL Watch & Bet low latency live game video feeds to sportsbooks internationally. From the 2023-24 season, Genius and the NFL have reached a multi-year agreement to distribute Watch & Bet in the US and Canada.

Genius said it would leverage its machine learning and live streaming technologies to power viewing experiences for fans through Watch & Bet. In addition, Genius will make use of its augmented live video betting products.

“Genius has been an integral part of taking our official data feeds to market and working with sportsbooks to develop new ways for fans to engage with the NFL,” NFL vice president of business development and strategic investments, Brent Lawton said.

“We’re excited to extend our relationship and look forward to working with them to develop the next generation of NFL fans.”

Genius chief executive Mark Locke added: “In just two years, the NFL and Genius have set a new standard for data-driven fan engagement. We look forward to powering immersive experiences for NFL fans, broadcasters, teams, sportsbooks, brands and more. 

“Also, Genius Sports will continue to help safeguard the integrity of all NFL games, which is critically important to the NFL, by continuing to provide our 24/7 bet monitoring services.”

Capp will serve as chair of the Audit Committee and join the Compensation Committee and Nominating and Corporate Governance Committee. His appointment was approved at the provider’s recent annual general meeting.

An experienced industry executive, Capp was previously chief financial officer of Bally’s Corporation for over three years. He also spent more than eight years in the same role at Pinnacle Entertainment.

Capp is currently director of Dreamscape Entertainment Properties, a business he launched earlier this year.

“Steve is a highly experienced executive who brings leadership, deep expertise and professional experience to our board,” NeoGames chief executive Moti Malul said. “Steve will be a valuable addition to our board.”

Read the full story on iGB North America.

It was filed for the Ninth Circuit.

In January 2022, Maverick Gaming filed a lawsuit in the US District Court for the District of Columbia.

Read the full story on iGB North America.

Following the publication of the white paper in April, much public comment centred on the number of proposals put the consultations, with some noting that the word consult or consultation appeared 150 times in the document.

The Commission today announced that four of the proposals are to be published this month. These are:

Age verification in premisesOnline games designDirect marketing and cross-sellingFinancial risk and vulnerability checks for online operators

The financial risk checks that are to be imposed on operators, sometimes dubbed affordability checks, are considered to be one of the more controversial provisions of the document.

Much of industry criticism of the review, led by UK gambling trade body the Betting and Gaming Council (BGC), centred on the measure.

Some have voiced concerns that more stringent interpretations of these checks could risk alienating punters by requiring operators to request more detailed financial documents than players feel comfortable sharing.

Additional Gambling Commission consultations

In line with previous consultations, Commission executive director for research and policy Tim Miller said that the talks are planned to last 12 weeks, closing in October.

In addition to the planned consultations laid out in the white paper, the GC also will launch two more this month. These are:

Rules around personal management licencesProcedures for regulatory panels.

The Commission said that launch of these projects builds on the regulator’s commitment to stick to consultation windows as far as possible.

Projects planned for the autumn

After these have concluded, the GC said it will be “well advanced in the planning” for the next set of consultations, currently set for the Autumn.

Socially responsible inducementsGambling management tools.

As such, the regulator said it is likely to begin pre-consultation engagement with important stakeholders in the coming weeks.

“The Gambling Commission’s work is of course also running alongside the work of Government and the voluntary commitments of the gambling industry to implement the Review,” said Miller.

Collaboration with DCMS

The regulator said it continues to support the department of culture, media and sport (DCMS) in its work, which will also be engaging in the consultation process.

However, the GC emphasised the importance of clearly setting roles and responsibilities.

The regulator used the example of the planned statutory levy, a proposed tax on the revenues of gambling operators to pay for research, education and treatment initiatives.

For these measure, the government is to lead on the creation of the levy, including where the funding will go. The Commission’s role will be to collect and distribute the tax in line with the governments directions.

Miller said that the levy will likely make the Commission’s LCCP RET list, the list of approved organisations operators may send the current mandatory contributions, irrelevant.

He added that the body will also need to consider the impact of the tax on the destination of any future fines.

“Full implementation of the review will be a job of several years, especially when you include evaluating the impact of any changes,” said Miller. “But that doesn’t mean we don’t want to progress things as quickly as possible. We are determined to make progress at speed.”

Consumers in Puerto Rico can place bets on the Caesars Sportsbook mobile betting app or accompanying website.

Online betting will initially only be available to citizens of Puerto Rico. Non-residents visiting Puerto Rico will have the ability to register for the app later this summer.

The app and website will be integrated with the Caesars Rewards loyalty program. For every bet placed, users will earn tier credits, which can be exchanged for experiences at Caesars Entertainment destinations.

Read the full story on iGB North America.

The annual festival brings together thousands of people from around the world for 10 days of awareness and entertainment. 

The event will take place from 7-17 the Maltese capital of Valletta and feature concerts, panel discussions and art exhibitions. The festival will culminate in a concert headlined by EuroPride 2023 ambassador Christina Aguilera.

LeoVegas’s support of the event comes after it also sponsored the local Malta Pride event on a number of occasions. 

“We are proud to demonstrate our commitment to equality for all,” LeoVegas Malta chief financial officer and managing director Stefan Nelson said. “At LeoVegas, equality, diversity, and inclusion are ingrained in our culture, and we eagerly look forward to supporting EuroPride’s mission of equality.”

Maria Azzopardi, president of Allied Rainbow Communities, the company which organises EuroPride, welcomed LeoVegas’s sponsorship. 

“We’re delighted to announce our collaboration with LeoVegas for the EuroPride 2023. Their commitment to diversity and inclusion aligns seamlessly with our mission.

“Their support is a significant stride towards promoting equality and highlighting the vitality of the LGBTIQ+ community. This collaboration will bring a positive impact to the festival, and we can’t wait for it to start.”

The partnership comes after French national lottery operator Française des Jeux (FDJ) last month also announced a link-up with a national LGBT+ group.

FDJ will now work with l’Autre Cercle as part of its commitment to diversity and inclusion. The operator said this will support its ongoing efforts for the inclusion of LGBT+ people in the workplace.

Merkur Casino Aberdeen features four roulette tables and two blackjack tables. The venue also is home to two electronic roulette products and 20 other gaming machines.

Chief executive Irinia Ruf officially opened the venue, accompanied by several other high ranking executives from the business.

For the grand opening, Merkur invited local dignitaries, business leaders and member of the gaming industry. The event featured Scottish rock band the Red Hot Chilli Pipers and Chris Ashton.  

“We are delighted to have made history by opening the first Merkur Casino in the UK,” said Ruf.

“When the opportunity arose to purchase a licence in Aberdeen it was a natural progression to move into the sector and launch our first UK casino.”

Operators spent a total of SEK3.40bn (£244.6m/€286.3m/$311.1m) in the past year, a 15.0% drop from SEK4.00bn in the previous year.

The figures, posted by regulator Spelinspektionen, also showed this was the lowest spend since data was first published in 2016. The 2022 total was also a far cry from the high of SEK7.30m posted in 2018.

Sweden experienced two consecutive years of decline in 2019 and 2020, where spend hit SEK5.70bn and SEK3.70bn, respectively. Spending then increased slightly in 2021 before dropping again last year.

“Traditional” advertising

Spelinspektionen noted that the data showed gross advertising investments, which meant discounts were not included. The figures also only applied to “traditional” media, classed as print, television, radio and outdoor advertising. This also included some digital assets.

However, the data does not apply to advertising in digital media such as social networks, keyword advertising and online video.

Breaking down advertising spend in 2022, the majority of this – 30% – focused on casino, with much of this being for online casino. Sports betting, excluding horses, followed close behind with a 28% share of advertising spend during the year.

Some 26% of spend was committed to lottery-based games, with 12% for betting on horse and 4% bingo, mainly online.

Market regulation

The near-steady decline in traditional advertising spend since 2018 followed the relaunch of the Swedish regulated market. The new-look market went live on 1 January 2019, with many brands that were not licensed exiting the country at that time.

Following mass withdrawal from Sweden, coupled with Spelinspektionen’s crackdown on unlicensed activity, advertising spend was reduced. This trend continued for the next two years as attention turned to regulated activities.

However, the decline in traditional advertising spend may also be partly explained by the switch to digital marketing. With more operators using digital platforms such as social media to connect with consumers, they spend less on traditional media advertising.

Digital advertising is often cheaper than traditional platforms and allows brands to target set groups of consumers. It also allows operators to post direct links to their websites and platforms so players can quickly access gambling services.

Concerns over channelisation

While the regulation of gambling in Sweden certainly helped to tackle unlicensed gambling, and indeed marketing of this, concerns remain over channelisation in the country.

Last month, a report by Sweden’s Online Gaming Industry Association (BOS) revealed 77% of Sweden’s online gaming market is channelised. This, the BOS said, was “critically low” and called for action to be taken.

Sweden’s channelisation goal – the percentage of licensed gaming offerings that it wishes to have on the market – is currently set at 90%.

Gustaf Hoffstedt, secretary-general at BOS, emphasised the seriousness of the low channelisation rate.

“There is no doubt that the Swedish licensing system is in a serious situation,” he said. “Far too much power has been spent on the part of the state to force the licensed gambling companies to implement measures that have not been well received by gambling consumers.”

Wider range of powers for Spelinspektionen

Shortly before the report was published, Sweden’s government issued Spelinspektionen a range of new measures to help combat illegal gambling.

The changes primarily related to payment providers and Spelinspektionen’s regulatory powers in this area.

Payment providers are now required to submit certain information to Spelinspektionen. This includes details on whether their systems are being used to process payments to and from unlicensed operators in Sweden.

Earlier this month, Spelinspektionen began to obligate owners of supplier licences to pay fees. Effective from 1 July, Spelinspektionen charges a fixed fee to the organisation that holds a licence to supply gaming software to operators in Sweden.

The regulator requires businesses to pay a separate fee for each licence it holds unless it receives a specific exemption.

Also last month, it was announced that Swedish lawmakers will consider a proposal to increase penalty fees for gambling operators that breach the country’s Money Laundering Act.

The proposal would adjust penalties to the same maximum amount for violations of the Gambling Act.

At present, the maximum operators can be fined for breaching the Money Laundering Act is much lower than for Gambling Act violations. The memorandum said this is “unsatisfactory” as, in many cases, violations of the Money Laundering Act can be considered more serious than those related to the Gambling Act.