According to a report, the CJEU or the European Union Court of Justice recently rejected a petition introduced by the Belgian government that had been seeking an annulment for the online gambling guidelines stipulated by the European Commission. As reported earlier, the government of Belgium had drawn out a petition urging the CJEU to ignore […]

According to a report, the CJEU or the European Union Court of Justice recently rejected a petition introduced by the Belgian government that had been seeking an annulment for the online gambling guidelines stipulated by the European Commission. As reported earlier, the government of Belgium had drawn out a petition urging the CJEU to ignore the European Commission guidelines for online gambling that were targeted towards introducing better protection for the consumers.

However, turning down Belgium’s request for the withdrawal of the petition, the CJEU declared that there was nothing wrong with the petition and that it simply established both practical and feasible guidelines for protecting the interests of online gamblers in the member states of the European Union.

In the wake of a comprehensive analysis of the petition, the CJEU rejected the arguments made by the government of Belgium about the European Union’s interference with its member states’ sovereignty and powers to control the individual gambling markets of their own accord.

The EU Court of Justice announced its judgment by saying that the general court has concluded that the Belgian Government’s recommendation does not hold any binding legal implications and therefore cannot be categorized as an act that can be challenged.

Following the ruling, the EGBA or the European Gaming and Betting Association expressed its gratitude for the EU Court of Justice for supporting the European Commission’s aim of promoting better protection for online gamblers in the member states. Although it might not have any legal implication as such, the European Gaming and Betting Association has revealed its intentions of offering their complete support to the EC for implementing their online gambling guidelines.

The EGBA has made this decision based on its belief that the online gambling guidelines set by the European Commission will not only help the individual member states to give utmost priority to ensuring the welfare of its online gambling consumers but also ensure the establishment and development of a more vibrant and consumer-friendly environment in the member states.

In addition to this, the EGBA also stated that the guidelines stipulated by the EC are also essentially aligned with the Responsible Remote Gambling Measures agreement made at the CEN or European Committee for Standardization Workshop that the former abides by. Maarten Haijer, the Secretary-General of EGBA remarked that they would now look forward to the Commission to assessing the execution of the guidelines by the member states.

The government of Malta has come up with an idea that businesses dealing with cryptocurrencies may find interesting. A new policy document seeks to set up a special agency which will “certify” blockchain platforms and “verify” crypto transactions. It is supposed to “bring peace of mind” to companies using these technologies to cut out central […]

The government of Malta has come up with an idea that businesses dealing with cryptocurrencies may find interesting. A new policy document seeks to set up a special agency which will “certify” blockchain platforms and “verify” crypto transactions. It is supposed to “bring peace of mind” to companies using these technologies to cut out central authorities and banks. Valletta also proposes legislation that will define the roles of intermediaries and regulate initial coin offerings.

The new Malta Digital Innovation Authority will certify blockchain platforms used by companies in the country. It will also be responsible for “verifying” cryptocurrency transactions by checking if the logged information is genuine. The government hopes to bring some peace of mind to businesses using distributed ledgers for cross-border payments.

Authorities in Valletta are recognizing that companies utilize blockchains to cut out central authorities. However, they acknowledge that the technology allows for cheaper and more efficient money transfers. Worried that those platforms are not currently certified in any way, the government has decided to provide some “legal certainty and trust”. Officials believe companies will benefit from the work of the new authority, while also cutting out intermediaries such as banks.

The Parliamentary Secretary for the Digital Economy Silvio Schembri presented the new policy document at a press conference with various stakeholders, the Maltese Independent reported. He called the event a “historic moment” and provided further details on how authorities plan to implement regulations concerning the cryptocurrency sector in successive stages.

The first step will be to set up the Malta Digital Innovation Authority. A bill will set out the regime for the registration of service providers and the certification of technology arrangements, Schembri explained. On stage 2, another draft will formalize the framework for Initial Coin Offerings (ICOs). A third law will impose regulation on services directly related to cryptocurrencies. Intermediaries like brokers, exchanges, wallet providers, asset managers, and investment advisors will be subjected to its provisions.

Malta’s gaming regulatory boss is leaving his post following a flurry of negative headlines regarding its Italian-based online gambling licensees. On Sunday, the Times of Malta reported that Malta Gaming Authority executive chairman Joseph Cuschieri would be leaving the regulatory agency to become CEO of the Malta Financial Services Authority (MFSA). The MFSA doesn’t technically […]

Malta’s gaming regulatory boss is leaving his post following a flurry of negative headlines regarding its Italian-based online gambling licensees.

On Sunday, the Times of Malta reported that Malta Gaming Authority executive chairman Joseph Cuschieri would be leaving the regulatory agency to become CEO of the Malta Financial Services Authority (MFSA). The MFSA doesn’t technically have a CEO position, forcing the government to amend the law to create the position.

Cuschieri won’t be entirely saying goodbye to the gaming industry, as the MFSA oversees all financial services in Malta, including credit institutions, financial and electronic money institutions, securities and investment services, insurance as well as consumer education and consumer protection.

The Times of Malta further claimed that Cuschieri’s longtime lieutenant Heathcliff Farrugia was the likely pick to head up the MGA, while Malta Investment Management Company LTD chairman Adrian Said would likely become the MGA’s new non-executive chairman.

While Cuschieri’s move has reportedly been in the works for some time, it comes just as the MGA is dealing with a tide of bad press stemming from Italian police actions against alleged mafia-associated illegality by MGA-licensed online gambling operators.

The MGA has responded to these arrests by suspending the licenses of the affected companies and by launching a probe of all Italian-based licensees to ensure they are complying with their license obligations. Just last week, the MGA announced the formation of a new Anti-Money Laundering Supervisory Unit to ensure its licensees were staying on the straight and narrow path.

Italy’s anti-mafia commission recently complained that it wasn’t getting the help it needed from the MGA. Cuschieri, who has been the MGA’s leader since 2013, said this month that he wanted to start a “collaboration” with Italian authorities but acknowledged that the MGA lacks the strong investigation tools that are available to the police and the judiciary.

Melco Resorts & Entertainment has opened its website for the Cyprus Casino Resort, called the City of Dreams Mediterranean it is expected to open in 2021. The resort will be built in western Limassol and estimated to cost with the license granted to Melco and the consortium will allow them to operate a gambling facility […]

Melco Resorts & Entertainment has opened its website for the Cyprus Casino Resort, called the City of Dreams Mediterranean it is expected to open in 2021.

The resort will be built in western Limassol and estimated to cost with the license granted to Melco and the consortium will allow them to operate a gambling facility until 2047, and hold the monopoly until 2032. The company even has plans to open a small gaming venues while the resort is built at a cost of $500 million.

At present the website offers information about the City of Dreams Mediterranean and the company with more information coming soon.

The website can be seen here.

While commemorating its 20th anniversary at the ICE Totally Gaming 2018, the Gaming Standards Association (GSA) and the Gaming Standards Association Europe promulgated the birthing of a new Technical Committee devoted to blockchain use. Blockchain technology is poised to revolutionise data sharing and security and holds the potential to provide unparalleled levels of transparency to […]

While commemorating its 20th anniversary at the ICE Totally Gaming 2018, the Gaming Standards Association (GSA) and the Gaming Standards Association Europe promulgated the birthing of a new Technical Committee devoted to blockchain use. Blockchain technology is poised to revolutionise data sharing and security and holds the potential to provide unparalleled levels of transparency to the regulatory authorities. GSA’s new Blockchain Technical Committee will collaboratively address the technology and advise on possible areas where standards could be fostered.

The GSA President Peter DeRaedt said: “GSA was created to help drive innovation in the gaming industry for the benefit of manufacturers, suppliers, operators and regulators. By creating a new Blockchain Committee, we are once again proving how, by creating a standard way to use technology, GSA is achieving our mission.”

While GSA Europe Managing Director, Mark Pace stated: “Many industries are evaluating how the blockchain technology can enhance data sharing security and increase operational transparency. GSA will launch this new committee and evaluate the creation of a gaming industry standard. This is very timely and may have a significant impact on how companies can achieve GDPR and AML requirements.”

GSA standards are created through a collaboration between volunteer representatives of its members. Over the past 20 years, more than 1,600 volunteers from more than 190 companies have contributed their expertise to create 15 GSA standards in nine committees. GSA’s award-winning standards are in use around the world, driving the industry to innovation and growth.

GSA was born out of a globally recognized need to streamline processes and create standards that would spur growth, innovation and revenue. Gaming manufacturers, suppliers, operators and regulators have benefited from GSA’s mission to facilitate the identification, definition, development, promotion and implementation of standards to enable interoperability, innovation, education and communication for the benefit of the entire industry.

Following Malta’s latest anti-Mafia police action targeting gambling operations,Malta Gaming Authority (MGA) is conducting a review of its Italian online licensees. Last week, Malta Gaming Authority (MGA) executive chairman Joseph Cuschieri told Italian gaming news outlet Agimeg that he wanted to “start a collaboration” with Italy’s Anti-Mafia Commission and any other authority that “needs to […]

Following Malta’s latest anti-Mafia police action targeting gambling operations,Malta Gaming Authority (MGA) is conducting a review of its Italian online licensees.

Last week, Malta Gaming Authority (MGA) executive chairman Joseph Cuschieri told Italian gaming news outlet Agimeg that he wanted to “start a collaboration” with Italy’s Anti-Mafia Commission and any other authority that “needs to know the activity of Italian gaming operators in Malta.”

Cuschieri’s comments came one week after the MGA suspended the license of Phoenix International Ltd, which operated multiple gambling sites linked to Italy’s ‘betting king’ Benedetto Bacchi, who was arrested in an Italian police anti-Mafia action dubbed Game Over.

Italian authorities alleged that Bacchi operated a network of data transmission centers (CTDs) – essentially betting shops with terminals linked to Malta-based sites – that circumvented Italian gaming authorities to avoid paying local taxes.

Game Over was the latest in a series of Malta-linked Italian crackdowns in the past couple years, and it followed a public warning from Palermo’s anti-Mafia prosecutor that local Mafia groups were planning to shift their operations to Malta, which they reportedly viewed as “a little paradise.”

Cuschieri said last week that it was regrettable that “the press and the Italian public opinion have a suspicious attitude towards our gaming operators.” Cuschieri said the MGA had “very serious and transparent rules” but lacked “the investigation tools that the police and the judiciary have.” Nonetheless, Cuschieri said the MGA had “further intensified checks against Italian companies”

On Monday, GamblingCompliance reported that the MGA’s probe into its Italian licensees was only the first stage in a concerted crackdown intended to shore up the MGA’s reputation. While Italian firms make up less than 5% of MGA licensees, an unidentified Malta official said the MGA was having to face “public scandals founded on the connection between Italian entrepreneurs and the Mafia.”

The unnamed official went on to say that the MGA wouldn’t rule out cancelling licenses “if in our investigation we discover any business not provided by the license.”

The MGA’s concern is well-founded, given that the Malta-based gaming industry accounted for over 12% of the island’s gross domestic product in the first half of 2017.

Australian gambling regulator Northern Territory Racing Commission (NTRC) has issued an informal ban against all cryptocurrency online wagering, singling out bitcoin and ethereum. Just days before, one of its licensed online gambling sites announced it was offering bitcoin to its customers. Paul Cherry, CEO of Australian online gambling site Neds explained: “We strongly believe in […]

Australian gambling regulator Northern Territory Racing Commission (NTRC) has issued an informal ban against all cryptocurrency online wagering, singling out bitcoin and ethereum. Just days before, one of its licensed online gambling sites announced it was offering bitcoin to its customers.

Paul Cherry, CEO of Australian online gambling site Neds explained: “We strongly believe in bitcoin and cryptocurrencies as a viable and secure method of online exchange. With this announcement we wanted to ensure that Australians who share our positive outlook on cryptocurrencies can use them to bet with us.”

“We’ve always prided ourselves on being a technology company,” he continued. “We’re not just sports and racing enthusiasts and bookmakers – we’re also programmers, analysts and computer nerds – so this felt like a natural step for us. And we think there is a lot of crossover into that target [crypto] market.”

The Brisbane, Australia online gambling website received a great deal of notice for its acceptance of bitcoin. Billed as the first of its kind for the continent nation, Neds even had plans to incorporate alternative coins. Neds also claimed it would absorb over 2 percent of the transaction fees incurred by users.

Neds was licensed by Fall of last year, ready to go, with all wagering happening in bitcoin, from the bet to eventual withdrawal. Mr. Cherry mused: “It is a technological solution, and we see ourselves as tech guys, so it seems very fitting that we integrate bitcoin or some other cryptocurrencies into our platform. A lot of people may be non-sophisticated investors who have acquired some bitcoins during the recent hype and are probably wondering what to do with them.”

NetShop ISP, your leading data center provider attends will attend ICE Totally Gaming 2018 is taking place in ExCel London from 6th-8th February 2018. Being active in the iGaming industry for the past decade, NetShop ISP is, today, among the top choices for hosting by leading Platform Suppliers, Software Developers and iGaming Startups. ICE 2017 […]

NetShop ISP, your leading data center provider attends will attend ICE Totally Gaming 2018 is taking place in ExCel London from 6th-8th February 2018.

Being active in the iGaming industry for the past decade, NetShop ISP is, today, among the top choices for hosting by leading Platform Suppliers, Software Developers and iGaming Startups.

ICE 2017 delivered a record audited total attendance of 30,213, up 6% year-on-year, further increasing the reputation of ICE as the most international business event anywhere in gaming.

The rise of the gaming industry in Malta is an indisputable success story, one which continues to go from strength to strength. Without doubt, Malta has become the jurisdiction of primary establishment for most operators within the industry. In Europe, the iGaming sector has been steadily growing and is still developing, even though its growth […]

The rise of the gaming industry in Malta is an indisputable success story, one which continues to go from strength to strength. Without doubt, Malta has become the jurisdiction of primary establishment for most operators within the industry. In Europe, the iGaming sector has been steadily growing and is still developing, even though its growth is made somewhat unpredictable by regulatory pressure exerted in disparate states across Europe. Seconded by UK and Gibraltar, Malta has established itself as the iGaming capital of Europe and, at least for now, the iGaming capital of the world.

The European market is by far the largest market for iGaming. Of the €34.6bn of online GGR created worldwide in 2015, north of 47.6% went to European operators. The European online gambling market is estimated to produce a Gross Gaming Revenue ( GGR = stakes minus winnings) of about €16.5 billion and is expected to grow steadily to a whopping €24.9 billion by 2020 into motion in Europe. Several countries are moving forward with passing legislation on online gambling or issuing licenses.

For example, the Czech Republic mended its gambling laws and is finally on its way to issuing online gambling licenses. 2017, has been an action-packed year, with changes in iGaming regulations implemented or placed Likewise, Italy has put forward a new tender for online gambling licenses, while Sweden and the Netherlands are moving ahead with legislative proposals intended to open their online gambling markets. For the first time, Poland has passed legislation that allows the operation of online casino games via a state monopoly, and online promotional lotteries via private companies, coupled with stronger enforcement measures for unlicensed operators.

Today online gaming comprises 12% of the Maltese economy, generating €700 million and employing 9,000 people. Over 330 gaming companies, including giants Betsson, Tipico ,Betfair, now call Malta home.

Thomas Biro is CEO and co-founder of MultiLotto, Malta’s newest success story. A long time betting leader he was, alongside the companies’ COO Markus Cordes drawn to Malta in late 2016 for its business-friendly tax and gaming regulations. MultiLotto, has established itself as a key player in the Lottery and Gaming market. In the space of twelve months they have more than tripled their workforce, expanded operation into several new markets (UK, Ireland) whilst adding to its strong existing core of players in the Nordics and Eastern Europe. Now offering its clients over 16 different lotteries to choose from, including lottery betting favourites Powerball, Mega Millions, Euro Millions and Euro Jackpot, they are now solid markets leaders.

Considering the fact that there are some gambling markets that feature much tighter regulation of online gambling, it is not surprising that experts projected future growth for Malta’s online gambling industry. Outgoing MGA Executive Chairman, Joseph Cushieri highlighted the necessity of a continuous new generation of legislation which is much more complied with recent innovations in terms of technologies and even new forms of gaming. Customers’ needs are also constantly rising, so legislation needs to be adapted in a way that offers suitable customer protection measures.

The gambling landscape in the country has changed, already quite positive for Malta’s reputation as a reliable destinations for various forms of gambling. According to the MGA’s Chairman, these changes could be even used as a worthy example for other jurisdictions not only in Europe but also around the world.
The vision is for Malta to become the Silicon Valley of the industry, to reach that goal, the country needed the right incentives, the right regulatory framework and above all the continued support of the industry, and it has reached that goal. Malta prides itself on being a microcosm of Europe and now one of the most trusted hubs in Gaming.

Source: MaltaToday.com.mt

Private equity firm CVC Capital Partners has appointed the investment bank Rothschild & Co to examine the possible London stock listing of gambling company Sky Betting & Gaming, Reuters reported on Monday. Rothschild is in the process of organising a “beauty contest” for next week to select which banks will set up the initial public […]

Private equity firm CVC Capital Partners has appointed the investment bank Rothschild & Co to examine the possible London stock listing of gambling company Sky Betting & Gaming, Reuters reported on Monday.

Rothschild is in the process of organising a “beauty contest” for next week to select which banks will set up the initial public offering, which is expected to value the company in the range of GBP2.50 billion and GBP3.00 billion, the news agency reported citing people familiar with the matter.

Sky Betting & Gaming is currently 80% owned by CVC Capital Partners, with the remaining stake held by Sky PLC. CVC first acquired the interest in Sky Bet in 2014, valued at GBP800.0 million at the times.

According to Sky Bet’s annual report for the year ended June 30, 2017, the company made a pretax loss of GBP3.0 million, narrowed from GBP37.8 million the year before, on revenue of GBP515.8 million, up from GBP373.6 million.

UK gambling operators could face stiff financial penalties for breaching advertising rules, according to proposed changes to their licensing conditions. On Thursday, the UK Gambling Commission (UKGC) unveiled its proposed changes to license condition and codes of practice (LCCP) for UK gambling operators. Stakeholders and members of the public have until April 22 to submit […]

UK gambling operators could face stiff financial penalties for breaching advertising rules, according to proposed changes to their licensing conditions.

On Thursday, the UK Gambling Commission (UKGC) unveiled its proposed changes to license condition and codes of practice (LCCP) for UK gambling operators. Stakeholders and members of the public have until April 22 to submit their opinions on the proposed new rules of the road.

The changes come as the UKGC is imposing its new vision of a ‘fairer’ gambling market, with an emphasis on a consumer-friendly approach and a zero-tolerance policy toward social responsibility shortcomings.

Among the highlights are a change in licensees’ adherence to socially responsible (SR) marketing activity. Whereas the previous LCCP said that licensees “should” comply with UK Advertising Codes, licensees are now told they “must” comply with codes issued by the Committee of Advertising Practice (CAP) and the Broadcast Committee of Advertising Practice (BCAP).

The net result of this shift from an Ordinary code provision to the new SR code provision means violators could face “the full range of [the UKGC’s] regulatory powers,” including stiff financial penalties, if their ads are deemed out of bounds.

With regards to marketing pitches containing misleading bonus or ‘free bet’ offers, the old LCCP’s wording that “licensees must satisfy themselves” that their marketing isn’t misleading has been changed to read “licensees must ensure” that it’s not misleading.

Furthermore, all “significant conditions” related to these offers must be “provided transparently and prominently to consumers.” If space prevents listing all the conditions, operators must “clearly indicate” that conditions apply and online operators must ensure that these conditions are displayed in full “no further than one click away.”

Operators will be forbidden to contact consumers via direct electronic marketing without their informed and specific consent, and operators will have to provide “evidence which establishes that consent.” Opportunities to withdraw consent must be provided and woe to any operator who contacts a consumer after consent is withdrawn.

Last year’s affiliate shenanigans resulted in a change in third-party responsibility. The old LCCP’s “licensees must take responsibility for the actions of third parties” has been changed to “licensees are responsible” for activity by their affiliate partners.

Operators will also face an eight-week window in which to resolve customer complaints before the matter is referred to an Alternative Dispute Resolution (ADR) provider. Records of customer complaints and disputes must be kept in case the UKGC or (perish the thought) the courts want to see them.

It’s been two years since the most recent LCCP update and in that time UK regulators of all stripes have been taking a closer look at the gaming industry, clearly signaling that the era of taking consumers for granted is over.

As the UK government tries to reduce the maximum stake on fixed-odds betting terminals (FOBTs) to £2, bookmakers are preparing different strategies to prevent the new regulation from taking effect. However, representatives of operators have decided that the judicial review strategy would only be used as a “last resort.” “It would always be a last […]

As the UK government tries to reduce the maximum stake on fixed-odds betting terminals (FOBTs) to £2, bookmakers are preparing different strategies to prevent the new regulation from taking effect. However, representatives of operators have decided that the judicial review strategy would only be used as a “last resort.”

“It would always be a last resort and only if it was clear the decision was not being taken on the evidence,” commented an anonymous source of UK bookmakers. “A judicial review is a type of court proceeding in which a judge reviews the lawfulness of a decision or action made by a public body and are a challenge to the way a decision has been made, rather than the rights and wrongs of the conclusion reached,” explained the Racing Post.

Licensed bookmakers in the UK are bracing for impact as the Department for Culture, Media and Sport (DCMS) is preparing three options for the maximum stake limit to be set on FOBTs. The current limit is £100 every 20 seconds and could be dropped to £2 (as proposed by the Labour party), £50 (which is the most appealing to bookies) and one between £10 and £30.