Asia
Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation
Fintech companies in Kazakhstan are urging greater scrutiny of a proposed law intended to regulate betting transactions in the country.
The submitted legislation, currently in its final reading, would form a monopoly entity, the Unified Accounting System (UAS), the firms said in a joint press release. The UAS would be used to determine market participants, process payments, maintain a single “electronic wallet” and make settlements with clients. A critical concern is that it could charge up to 1.5% in commissions on all market transactions, within a market where regulated transactions exceed KZT1.2tn ($2.6bn) annually.
Irina Davidenko, a spokesperson for Kazakhstan’s payments industry, commented: “The proposed legislation would be a step backwards for Kazakhstan, harming competition in the country’s vital payments sector and signaling to the outside world that necessary business reform is being driven by shadowy interests, rather than what’s right for industries and consumers.”
The proposal, partly billed as a public health move against problem gambling, resembles a previous initiative, the Betting Accounting Centre (BAC). It was shelved in 2021 after a scandal involving a deputy minister who was dismissed for accepting bribes from BAC lobbyists, according to the press release.
The lack of transparency on the UAS structure and ownership as outlined in the legislation is another aspect of the change that is seen by critics as troubling.
The reintroduction of a UAS model occurred as late as the second reading of the legislation. If passed by parliament, it will become law without the comprehensive impact analysis and scrutiny typical for such significant regulatory change.
Observers argue the new regulation duplicates existing regulatory functions already managed by Kazakh state bodies and was proposed without the cooperation of the National Bank of Kazakhstan. The central bank has previously developed its own reform proposal that avoids introducing a monopolistic entity.
Opponents further contend that the regulation could cause “significant economic damage”. National Bank of Kazakhstan representatives and the payments industry have sounded alarm bells, but the issues have not been adequately addressed, the press release added.
The concerned fintech and payment companies want the legislation to be reconsidered. They are advocating for it to be sent back to the lower house of the legislature for a full regulatory impact analysis and thorough examination to ensure that it does not adversely affect industry or the economy.
Ilya Efimenko, commercial director of the payment organisation PayDala, said: “I appeal to the Senators, who need to know the true purpose of why the UAS has made a comeback in the bill.
“This is a re-emergence of the ‘Betting Accounting Center’ (BAC), a strikingly similar entity that was withdrawn before, and behind which, as the deputy from the Amanat party Elnur Beisenbayev said, are the powerful forces of ‘Old Kazakhstan.’
“Before our eyes, a monopolist, a private operator, is being created. The emergence of monopolies such as the UAS threatens the principles of a Fair Kazakhstan. Now everything is being done to break the financial system of Kazakhstan, recognized by experts as one of the best in Central Asia.”
The post Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation appeared first on European Gaming Industry News.
The Macau government has extended the lottery concession of Macau Slot Co Ltd for one year until 5 June 2026.
The concession renewal was published in the official gazette on Wednesday. Further extensions may be granted, subject to mutual agreement between the Macau government and Macau Slot.
As part of the renewal terms, Macau Slot is required to gradually reduce its number of non-resident employees and actively collaborate with the government to recruit and retain local talent.
Earlier this month, the government held a meeting with Macau Slot representatives to discuss the extension. According to the Gaming Inspection and Coordination Bureau (DICJ), the city’s industry regulator, Macau Slot committed to cutting 35% of its non-local, non-skilled workforce—equivalent to 26 positions—by the first quarter of 2026. The company also pledged to make further reductions to its foreign labour quota in the future. Currently, non-local staff account for 15% of the total workforce at Macau Slot.
“Over the past year, despite fluctuations in the macroeconomic environment and slower economic recovery in neighbouring regions, the local economy has remained relatively stable under the guidance of the Macau SAR government’s policies,” Macau Slot said in a statement.
“Looking ahead, we are committed to further diversifying our sports betting products to meet customer demand, while upgrading our information technology infrastructure to stay current and deliver more comprehensive sports betting services.”
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Emerging-markets leader expands its all-encompassing library with exciting new slots portfolio
QTech Games, the leading game aggregator for all emerging markets, has signed its latest provider partnership with Bigpot Gaming, enabling its platform customers to access the supplier’s innovative and multi-faceted slots catalogue.
Bigpot Gaming, an exciting challenger studio in the igaming arena, draws from a deep well of slot games – including titles such as Quests Of Olympus, Mega Sevens, Golden Kitty and Journey To The Abyss – which form an eclectic range of popular titles.
Bigpot Gaming specialises in developing high-quality online slot and table games which are RNG-certified and fully compliant with international regulatory standards. To underscore this commitment to fairness, Bigpot Gaming is certified by four recognised test laboratories in GLI, BMM, GA and iTech Labs.
The agreement also broadens Bigpot Gaming’s global scope, targeting emerging markets and creating new revenue streams. As the fastest-growing aggregator over the past few years, QTech’s platform offers the most expansive gaming portfolio around, localised for each region, retention and marketing tools, and 24/7 local-language support.
QTech Games CEO, Philip Doftvik, said: “It’s another feather in our cap to have integrated more premium content, this time from Bigpot Gaming. We will continue to raise the bar and shape a localised experience for global players. And we can’t wait to witness how these games perform across a range of untapped markets which, in many cases, represent new territory for Bigpot Gaming.”
David Shon, Global Sales Executive at Bigpot Gaming, added: “Bigpot Gaming stands out as a fast-growing rookie studio for slots games and a real revenue-driver for digital casinos, always offering players a fresh yet familiar gaming experience.
“This collaboration marks another crucial step in our company’s worldwide growth strategy, and. Bigpot Gaming is targeting the finest content aggregators to improve our visibility and influence in the sector, and QTech Games sets the gold standard for emerging markets.”
The post QTech Games strengthens its elite suite with Bigpot Gaming appeared first on European Gaming Industry News.
Polemos, a Web3 gaming infrastructure platform, has announced a strategic partnership with Guinevere Capital, a prominent esports and gaming investment firm known for its investments and advisory roles in projects such as GiantX, iTero, Perion, Skybox and various other projects across the industry. Guinevere Capital has established a strong reputation for its work across global Web2 gaming titles, including League of Legends, Valorant, Rocket League and many more. This partnership aims to leverage the combined expertise of Polemos.io and Guinevere Capital to enhance and further monetise audiences across publishers, infrastructure players, gaming companies, studios and platforms.
The collaboration will focus on integrating advanced asset management and engagement tools from Polemos.io’s Forge platform with Guinevere Capital’s extensive network and experience in both Web2 and esports ecosystems. This will create new monetisation opportunities and improve player experiences by bridging traditional gaming with blockchain-enabled innovations.
Carl Wilgenbus, CEO of Polemos.io, said: “Partnering with Guinevere Capital marks a significant milestone in our mission to expand access to gaming rewards and unlock new revenue streams for the entire gaming industry. Together, we will empower publishers and studios to better engage their audiences and capitalize on the evolving landscape of gaming and esports.”
“Polemos has built an impressive piece of infrastructure that has plugged a huge gap in the gaming sector. We look forward to working with them to commercialise this,” said Dave Harris, a partner at Guinevere Capital.
Dave’s previous experience includes investing in and operating top teams and leagues in the Riot Games and Activision Blizzard ecosystems.
Guinevere Capital’s strategic involvement will accelerate the adoption of blockchain gaming infrastructure while supporting the growth of esports and gaming communities worldwide. This alliance underscores a shared vision to drive innovation, education and monetisation in the gaming sector by combining Web2’s reach with Web3’s potential.
The post Polemos Announces Partnership with Guinevere Capital appeared first on European Gaming Industry News.
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