Bite-size Regulatory Headlines May 2023 gives you the latest insights into gambling entertainment regulations worldwide! (Image by succo from Pixabay)
Regulatory news is not for everyone! However, for those of you that are interested in fines dished out on the iGaming scene, casinos and software providers gaining new licensing, and partnerships that result in companies entering new gambling jurisdictions, this is just the report for you!
In this edition of our regulatory news in May 2023, we have news of the squeaky clean Merkur picking up an expected fine. Stakelogic has made a landslide deal to enter one of the largest iGaming markets in North America.
Plus, there’s coverage of the Malta Gaming Authority (MGA)’s recent announcement to tackle the issue of money laundering by updating its AML processes to support for cross-regulatory collaboration.
On top of these three news stories, also check out the highlight box at the end of this regulatory headlines report for a bullet point list highlighting, in brief, the latest regulatory headlines circulating the online gambling entertainment grapevine.
Safer Gaming Tip: Always check that the online casino you play at operates under a reputable licensing authority. This means you will have a framework to support you in case of a player Vs casino dispute.
Merkur allows a ‘Self Excluded’ player to slip through the system!
Software provider Merkur found itself in hot water with the Netherlands iGaming regulatory authority after allowing a player to come back into its casinos nine times despite being self-excluded.
Somehow the player was not flagged and continued to gamble. Kansspelautoriteit (KSA) slapped Merkur with a € 45,000 fine. Since realizing the flaw in its system Merkur has updated its policies to ensure similar incidents do not occur. As we know from the UKGC fines, multiple offences can result in fines in the millions!
Land-based systems: This occurred in a Merkur land-based establishment. When players enter, the casino checks for ID and whether the player is on a self-excluded list. However, a system error meant staff allowed the player to enter the venue.
Stakelogic Slots Head to Pennsylvania USA
A huge deal for Stakelogic as the software provider has landed on the runway of one of the USA’s largest online casino markets. Pennsylvania tussles for the top spot with New Jersey, which are right now the two largest iGaming zones in North America with Canada’s Ontario and the USA’s Michigan online casino markets close on their heels.
Pennsylvania has a population of 13 million people and a decent number of online casinos that now have the option to take on Stakelogic games. However, another question is whether we will see Stakelogic Live appear in the US. For that to happen, the game developer would need to set up a live casino studio in the state.
The software provider recently made a landmark deal with the LeoVegas UKGC and MGA platforms to add live dealer games on top of its online slot collection to the casino’s lobbies.
Malta Gaming Authority (MGA) make AML policies a priority
The Malta Gaming Authority (MGA) has announced that it is weaponising itself in its war against anti-money laundering (AML) through cross-regulatory collaboration efforts. Its AML division is working with the Financial Intelligence Analysis Unit’s (FIAU) supervision unit in order to achieve its goal. Via workshops, the aim is to improve Q1 2023 results by tackling how the authorities approach compliance processes.
According to Claudia Callus, FIAU Head of Supervision, cooperation with strategic partners like the MGA makes winning the battle against money laundering and terrorism financing in Malta a more streamlined process. She emphasised the importance of training employees so they understand their role in the process as well as the processes of those they work with. This way communications will be smoother and the chances of spotting money laundering increases.
In addition to working with the FIAU, the MGA has also joined forces with the Malta Financial Services Authority (MFSA) to participate in a full-day training session. All in all, the collaboration across the FIAU, MGA, and MFSA brings Malta’s AML battle to whole new level!
More Top Regulatory Headlines May 2023
- Gaming Innovation Group gains Swedish Licensing
- Bet365 landed a SEK65 million (USD 7.7m) fine
- Ukraine makes the proposal to dissolve its regulator
- UK MP successfully lobbies for UK casinos to offer credit lines
- Australian credit ban for gambling on the brink of enforcement
- NSW (Australia) asks to raise gambling taxes from 10% to 15%
- US operators petition Michigan DOJ to prosecute overseas gambling sites accepting US players
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