Compliance Updates
Curaçao to Tighten Gambling Licensing Rules
Curacao has succumbed to the pressure from the Netherlands and agreed to tighten the gambling licensing rules.
Last week, the Dutch government announced that it had reached an agreement with its Curacao counterparts regarding “measures and structural reforms” intended to make the constituent country of the Kingdom of the Netherlands “financially, economically and administratively resilient.”
Curacao will form a new independent regulator that will be tasked with overseeing the gambling industry and issuing licenses to interested iGaming operators. The regulatory body will be set up and ready by 1 March 2021.
Curacao has agreed to ensure that its gambling licensees “act in accordance with the laws and regulations of the countries they target.” Also, the island nation will ensure that all gambling licensees pay their required taxes and fees.
The Netherlands has been providing Curacao with “liquidity support” since April to mitigate the economic impact of the COVID-19 pandemic on the island nation, which is heavily dependent on tourism. But Curacao also has an online gambling licensing regime that irks the Dutch government due to operators targeting Dutch punters.
In July, the Netherlands declared that its pandemic bailout was “no longer without obligation,” and Curacao’s failure to agree to certain conditions meant the third tranche of the bailout cash was withheld. In October, Curacao agreed to “comply with all requests” made by the Netherlands, including those “aimed at strengthening the rule of law of Curacao.”
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Compliance Updates
MGA Publishes New Guidance Manual Related to Reporting of ADR Proceedings
The Malta Gaming Authority (MGA) has published a new guidance manual related to the reporting of the Alternative Dispute Resolution (ADR) proceedings. The manual aims to provide licensees with a clear outline of the expected requirements and procedures relating to the submission of monthly ADR reports using the Licensee Portal on the website.
In line with Part V of the ADR Directive (Directive 5 of 2018), B2C licensees are required to report to the Authority each dispute that has been referred to the ADR entity, together with the conclusion of such dispute once a decision has been taken by the ADR entity. In this regard, a new report entitled “ADR Report” has been created and can be accessed from the “Company Timeline” on the Licensee Portal.
This reporting requirement comes into effect from this month. Consequently, the first submission needs to be made by not later than 20 June 2024, whereby licensees are required to report the disputes that were referred to their respective approved ADR provider in the previous month.
The post MGA Publishes New Guidance Manual Related to Reporting of ADR Proceedings appeared first on European Gaming Industry News.
Compliance Updates
MGA and AGCO Enter into a New Memorandum of Understanding
The Malta Gaming Authority (MGA) and the Alcohol and Gaming Commission of Ontario (AGCO) have entered into a new Memorandum of Understanding, building on their continued relationship to solidify the collaborative efforts between the two gaming regulators.
In light of the transnational nature of the gambling industry, both the MGA and the AGCO acknowledge the necessity of international cooperation. Both regulators align on common objectives and values in overseeing the gaming sector, including protecting the public interest, safeguarding of vulnerable individuals from gambling harm, and consumer protection.
The new MoU aims to further strengthen the long-standing collaboration between the two regulatory bodies, as it facilitates the exchange of crucial regulatory information and best practices, and mutual operational assistance concerning gaming operators. It also aims to cultivate a safer and more secure gaming environment across both jurisdictions, as it enables the MGA and the AGCO to perform their functions more effectively.
MGA CEO Charles Mizzi said: “Our ongoing collaboration with AGCO has yielded tangible results in the past, and through this MoU we are committed to further bolstering our inter-jurisdictional relationship. Our focus remains on fostering the exchange of information, with the overarching goal of improving our regulatory practices and addressing mutual challenges effectively.”
The post MGA and AGCO Enter into a New Memorandum of Understanding appeared first on European Gaming Industry News.
Compliance Updates
St8.io continues licensing expansion with MGA approval
St8.io, the next-generation content aggregator, has been granted a recognition notice by the Malta Gaming Authority (MGA), as it continues to expand its worldwide reach.
The recognition notice, which gives the same rights as a standard MGA B2B licence, is based upon St8’s existing licence in Romania, which was granted by the Romanian National Gambling Office last year.
St8 will now be able to provide its platform within the MGA’s globally-renowned framework, marking the latest step in the aggregator’s rapid growth since launching less than two years ago.
“Receiving this approval from the MGA was a key strategic goal for St8,” said St8.io CEO Vladimir Negine. “This will enable us to provide our platform to operators in MGA-regulated markets worldwide, maintaining the highest levels of player protection along the way. Alongside the licence we received in Romania, we’re now able to support partners in even more markets. Our plan is to continue to expand our licensed footprint in 2024 and beyond.”
St8’s innovative approach to content aggregation has already earned praise from operators and game suppliers looking for a solution that replaces manual work with cutting-edge technology.
A key part of why operators and suppliers trust St8 is because of the stability and security the platform guarantees, particularly around confidential information.
The St8 platform also delivers deep integrations, meaning those operators don’t miss out on additional functionality from games studios.
The post St8.io continues licensing expansion with MGA approval appeared first on European Gaming Industry News.
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