Connect with us
European Gaming Congress 2024

Compliance Updates

UKGC Imposes £2.8M Fine on BoyleSports for AML Failings

Published

on

Reading Time: < 1 minute

 

The UK Gambling Commission (UKGC) has imposed a fine of £2.8 million on BoyleSports Enterprise for AML failings.

During an investigation by the regulator, Boylesports was found to have breached Commission rules aimed at preventing money laundering on its Boylesports.com and Boylecasino.com websites.

The investigation revealed that the operator failed to have an appropriate money laundering risk assessment in place. It was also found that its anti-money laundering policies, procedures and controls were unsuitable and, therefore, could not be implemented effectively.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“It is vital that all gambling businesses have effective anti-money laundering policies and procedures firmly in place and as part of our ongoing drive to raise standards we will continue to take tough action against operators who do not,” Richard Watson, executive director of UKGC, said.

In addition to the financial penalty, the UKGC has instructed Boylesports to maintain the appointment of an appropriately qualified Money Laundering Reporting Officer (MLRO) who holds a Personal Management Licence (PML).

Powered by WPeMatico

Continue Reading
Advertisement

Australia

NSW Govt Appoints New Board Members to ILGA

Published

on

nsw-govt-appoints-new-board-members-to-ilga
Reading Time: < 1 minute

 

The NSW Government has made appointments to the board of the Independent Liquor and Gaming Authority (ILGA), including a deputy chairperson and two new members.

Associate Professor Amelia Thorpe and Nicholas Nichles have been appointed following a rigorous public expression of interest selection process. Additionally, existing member Chris Honey has been appointed deputy chairperson.

ILGA is a statutory decision-maker responsible for a range of liquor, registered club and gaming machine regulatory functions including determining licensing and disciplinary matters.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The appointments follow the end of the term of appointment for outgoing deputy chairperson Sarah Dinning, and also fill vacancies that existed on the board.

Mr Honey, who was appointed a member of ILGA earlier in 2024, has been named deputy chairperson until the end of his current appointment term (11 February 2027).

Mr Honey has extensive experience in the advisory and restructuring field, including working extensively in highly regulated sectors.

Associate Professor Thorpe and Mr Nichles have both been appointed for four years commencing 6 November 2024.

Associate Prof Thorpe is with the Faculty of Law & Justice at the University of New South Wales and an Acting Commissioner of the NSW Land and Environment Court.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Mr Nichles was previously a Consul General and Senior Trade and Investment Commissioner for Australian Government agency Austrade, based in the US.

The new appointments bring the ILGA board membership to seven. The new appointments will join chairperson Caroline Lamb, new deputy chairperson Mr Honey and current members Cathie Armour, Jeffrey Loy APM and Dr Suzanne Craig.

The post NSW Govt Appoints New Board Members to ILGA appeared first on European Gaming Industry News.

Continue Reading

Compliance Updates

Ireland’s New Gambling Regulator to Begin Work on Phased Basis Next Year

Published

on

ireland’s-new-gambling-regulator-to-begin-work-on-phased-basis-next-year
Reading Time: 2 minutes

 

Ireland’s new gambling regulator is likely to begin overseeing betting businesses in the Republic midway through next year, industry figures predict.

President Micheal D Higgins recently signed the new Gambling Regulation Act, which overhauls licensing and creates a new authority to govern betting firms, into law. Industry figures forecast that the new regime should begin operating midway through next year, a key point for many businesses as they will have to renew online betting licences by that time.

Government also has to pass several milestones before the new Gambling Regulatory Authority of Ireland can start functioning, including appointing the seven people the body requires.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Minister for Justice Helen McEntee appointed senior civil servant Anne Marie Caulfield as chief executive designate of the authority in summer 2022. Her office has 11 staff. According to the Department of Justice, the State’s Public Appointments Service will shortly begin recruiting the authority’s seven members.

The Minister will appoint the candidates the service recommends.

The department could not say when the authority would start regulating but noted this would happen in a phased “timely manner” after its establishment.

Jack Chambers, Minister for Finance, earmarked €9.1 million for the authority next year in this month’s budget. That includes €4 million for technology.

Ms Caulfield wrote to industry organisations last week confirming that her organisation would begin its work on a “phased basis” but pointing out that it has already completed many preparations. In a statement she said that the authority was committed to keeping the industry fully informed so businesses can “plan for the new regulatory regime”.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Meanwhile, the Public Service Appointments Service last week advertised for someone to head the authority’s social fund. Under the new law’s provisions, betting businesses will contribute to this fund which the authority will use to tackle problem gambling.

Betting businesses regard the fund’s establishment as one of the key steps towards establishing the new regime.

Alongside that, they say that the authority will also have to set up its new licensing system. The law demands that all gambling businesses operating in the Republic be licensed and makes it a criminal offence to operate without a proper permit.

Lawyers at Arthur Cox recently noted that current permits are preserved until licensing sections of the act come into force. Existing high street and online bookies’ licences will have a run-off period, but lawyers said that how this would work in practice depended on how the regulator developed the new system.

Betting businesses are keen that the authority works on a national self-exclusion register for customers who voluntarily ask bookmakers not to take their bets. Currently, most individual bookies have systems where customers who fear they have a problem, or are at risk, can exclude themselves in this way.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Ireland’s New Gambling Regulator to Begin Work on Phased Basis Next Year appeared first on European Gaming Industry News.

Continue Reading

Compliance Updates

Tennessee Sports Wagering Council Takes Action Against Illegal Sportsbook

Published

on

tennessee-sports-wagering-council-takes-action-against-illegal-sportsbook

 

The Tennessee Sports Wagering Council through its executive director issued $50,000 in fines to Bovada.lv, an unlicensed and therefore illegal sportsbook operating in Tennessee.

Bovada failed to comply with cease and desist letters delivered to addresses in Curaçao, and Council investigators placed wagers through Bovada’s platform on three separate occasions, including as recently as October 16, 2024.

The Sports Gaming Act authorizes the Council to impose a $10,000 fine for the first offense of accepting wagers without a license, which rises to $15,000 for the second offense, and $25,000 for the third offense. Subsequent offenses may lead to the imposition of a $25,000 fine for each occurrence, an occurrence being a single wager accepted in Tennessee.

In the cease and desist letters, the Council ordered Bovada to allow all Tennessee users to withdraw any funds currently held by the unlicensed sportsbook.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“The Sports Wagering Council recommends that Tennessee users of Bovada withdraw their funds immediately. Our primary role is the protection of the public interest through a safe, regulated environment, and Tennessee sports bettors need to know that just because they can access a sports betting website or app inside Tennessee’s borders does not mean it is licensed to do business here,” Mary Beth Thomas, Executive Director of Tennessee Sports Wagering Council, said.

Legal sportsbook operators provide important bettor protections not found in the illegal market. If an individual wagers with unlicensed sportsbooks, their sensitive financial and personal information may not be protected and could even be shared with criminal enterprises. The bettor’s money could be withheld or disappear without a way to recover it.

The SWC is working closely with its network of law enforcement at the state and federal level to eradicate illegal sportsbooks such as Bovada and others.

Tennessee is the largest “online-only” sports betting market in the US, with more than $4.7 billion wagered in Tennessee last fiscal year through online sportsbooks licensed by the Council.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania