The New Zealand Department of Internal Affairs has reported that a settlement has been reached in the civil proceedings against Christchurch Casinos Limited for alleged breaches of its obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

As part of the settlement, Christchurch Casino has admitted all seven causes of action in DIA’s amended statement of claim and has agreed to join DIA in recommending that the High Court impose a penalty of $5.06m on Christchurch Casino.

Between May 2023 and September 2024, DIA conducted an investigation into Christchurch Casino’s AML/CFT compliance, and found that it had breached a number of its obligations under the Act.

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DIA found that Christchurch Casino had failed to establish, implement and maintain a compliant AML/CFT compliance programme, adequately monitor accounts, conduct compliant enhanced customer due diligence, terminate existing business relationships when required and keep records as required by the Act. These failures spanned between December 2018 and December 2023.

“This agreement is a significant and positive outcome. It’s encouraging to achieve our intended result without the time and expense of court proceedings” said Serge Sablyak, Director of AML/CFT Group.

“While the regulatory breaches were serious, we acknowledge Christchurch Casino’s decision to admit to the breaches and take responsibility for what were substantial failings.”

“We’re proud that our work has strengthened the integrity of New Zealand’s financial system and has helped build public confidence in the prevention of money laundering and terrorism financing.”

DIA and Christchurch Casino have recommended to the High Court that the matter now proceed to a penalty hearing for the Court to determine the appropriate penalty to be imposed on Christchurch Casino.

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Christchurch Casino is not alleged to have been directly involved in money laundering or the financing of terrorism.

Pavilion Payments, the leading omnichannel payment solutions provider in the gaming industry, has acquired CasinoSoft, a trusted leader in Anti-Money Laundering (AML)/Title 31 compliance, automated tax form processing, jackpot handling and regulatory reporting software. Together, they are building a unified solution that simplifies and modernizes gaming operations.

“We have put 20 years of our heart and soul into building the CasinoSoft brand and are thrilled with the many ways this acquisition moves us to the next level. The success of our robust suite of AML/Title 31 and tax form products is evidenced by the longstanding partnerships we enjoy with our many satisfied customers throughout the industry,” said Matt Montano, Principal and Owner of CasinoSoft.

The new offering combines Pavilion Payments’ seamless player funding and payment ecosystem with CasinoSoft’s industry-leading compliance and automation software. The result is a powerful, vertically integrated platform that streamlines floor, cage and slot operations, making them faster, easier and more secure for casinos, route gaming as well as iGaming and sportsbook operators.

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“CasinoSoft is the industry standard for AML/Title 31 compliance, automated tax forms, jackpot processing, and associated reporting services. With this acquisition, we plan to grow the broader Pavilion business with several new patents, innovative products, and transformative solutions that position us as the clear leader in fintech payments, cashless gaming, cage, and floor automation,” said Diallo Gordon, President of Pavilion Payments.

For more than two decades, CasinoSoft has helped casinos streamline Title 31, AML, tax forms and jackpot workflows, keeping operations audit-ready and freeing up staff to focus on the guest experience. By joining Pavilion Payments, CasinoSoft expands its ability to deliver end-to-end compliance and payment solutions within a single, connected system, reducing manual steps and increasing automation.

“At Pavilion Payments, we pride ourselves on offering our partners and customers a vibrant and diverse portfolio of products and services. The addition of CasinoSoft’s products to our lineup furthers our delivery on that goal. We’re delighted to add CasinoSoft to our team and look forward to delighting our customers with them,” said Dan Connors, CEO of Pavilion Payments.

OPAP announced the acquisition of the remaining 15.51% stake in Stoiximan (the Company) for a consideration of €191.6 million on a cash free debt free basis, plus an adjustment for net cash as of the closing date, increasing its ownership in the Company to 100% (full acquisition).

The investment further strengthens OPAP’s leading position in Greece and Cyprus, while also intensifying its strategic focus on online sports betting and iGaming segments.

OPAP initially invested in Stoiximan in 2018, prompted by its high-growth potential, and gradually increased its stake through two subsequent transactions in 2020. Today, Stoiximan holds an undisputed leadership position in the fast-growing online market, validating OPAP’s strategic investment over the years.

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Stoiximan will continue to be supported by Kaizen Gaming with cutting-edge technology and a differentiated product offering, ensuring a seamless user experience, top-notch reliability and innovation.

Completion is anticipated in the third quarter of 2025, subject to approval from the Cypriot regulatory authorities.

OPAP and Stoiximan will continue to operate as separate businesses under their distinct licenses, brands and management teams.

Jan Karas, Chairman & CEO of OPAP, said: “The investment in Stoiximan has greatly contributed to solidifying OPAP’s position in the Greek and Cypriot online markets. I am therefore very pleased with the recent transaction, which further expands our footprint in the fast-growing online market. Looking forward, we are confident that our dual brand strategy will remain effective and both our brands, Stoiximan and Pamestoixima.gr, will sustain their growth momentum.”

Nikos Fligos, CEO of Stoiximan, said: “This milestone marks a new chapter in Stoiximan’s journey. With the dedication and passion of our 300-strong team, who are the driving force behind our market leadership, we remain fully committed to delivering outstanding experiences to our customers, shaping the future of online gaming in Greece and Cyprus.”

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