Compliance Updates
UKGC: Licence Suspension and £3.8M Fine for Genesis Global Limited
Britain’s gambling industry is being warned that the Commission “will use all tools at its disposal to ensure consumer safety” following enforcement action involving suspending an online casino from operating and then fining it £3.8m.
Genesis Global Limited – which runs 14 websites including genesiscasino.com, casinoplanet.com and casinocruise.com – has also been given a warning by the Commission and told it must undergo further extensive auditing.
The operator was suspended from operating in Britain after enquiries revealed significant social responsibility and money laundering failures.
Three months later (14 October 2020) the suspension was lifted following significant compliance improvements but the Commission’s investigation continued and now concluded with a £3.8m fine, a warning and an additional licence condition demanding further auditing.
Helen Venn, Commission Executive Director, said: “All gambling businesses should pay very close attention to this case.
“The Commission will use all tools at its disposal to ensure consumer safety and that extends to stopping a business from actually operating.
“Failing to follow rules aimed at keeping gambling safe and crime-free will never be a viable business option for gambling businesses in Britain.”
Social responsibility failures included:
- not carrying out any meaningful responsible gambling interactions with, or placing any effective restrictions on the account of, a customer who spent £245,000 in three months. Three days into their relationship Genesis knew the customer was an NHS nurse earning £30,000 a year
- not carrying out any meaningful responsible gambling interactions or establishing affordability of a customer who lost £197,000 over six months. The same day the customer closed her account, stating she wanted to spend more time with her family, she was allowed to open another account with the business and deposit £200
- not carrying out any meaningful responsible gambling interactions or establishing affordability of a customer who lost £234,000 in a six week period.
Money laundering failures included:
- requested source of funds only after one customer had lost £209,000. Prior to this Genesis had estimated the customer was earning £111,000 a year because the consumer had told them they were a director and this was the average salary of directors in London. The operator failed to take into account the company was dormant and that there would be a wide range of director salaries. Genesis also failed to verify information supplied by the customer to substantiate the level of spend
- a customer was allowed to deposit over £1,300,000 and lose £600,000 before carrying out sufficient source of funds checks. The customer provided Genesis with documentation including a bank statement which showed deposits into the account to the value of £23,000 and payments out to the value of £27,000 – clearly not enough to support the level of gambling
- a customer was allowed to lose £107,000 over six months without carrying out sufficient source of funds checks. Genesis relied on assertion that the customer’s money came from an allowance from parents who owned factories overseas and failed to verify this information. The customer provided a number of bank statements, however, they did not evidence any source of income but did show transactions with other gambling operators.
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CT Interactive has strengthened its presence in the Bulgarian market by expanding its portfolio with a new selection of certified games. The latest certification reinforces the company’s commitment to delivering engaging and high-quality gaming content, providing operators with a diverse selection of fresh and innovative titles.
“Bulgaria remains a key market for CT Interactive, and this certification is another step in our strategy to continuously provide top-tier, regulation-compliant games to our partners. We are dedicated to expanding our portfolio with exciting content that enhances player engagement while meeting the highest industry standards,” Martin Ivanov, Chief Operating Officer at CT Interactive, said.
Some of the newly certified games include: The New Queen of Fruits, Book of Power, Guardians of Asgard, Clover Queen, Piggy Crash, Fruits & Sweets Buy Bonus, Hyper Cuber Buy Bonus, Duck of Luck Buy Bonus and others. These titles showcase a mix of dynamic themes and innovative mechanics, designed to appeal to a wide range of player preferences.
The post CT Interactive Strengthens its Presence in Bulgaria appeared first on European Gaming Industry News.
Compliance Updates
Malta Gaming Authority Enhances Regulatory Oversight and Outlines 2025 Supervisory Priorities
The Malta Gaming Authority (MGA) is enhancing its regulatory oversight approach and is outlining its supervisory focus areas for 2025. These enhancements are aimed at strengthening its supervision of the online gaming sector while promoting transparency with stakeholders.
Building on its existing risk-based framework, the MGA is enhancing such framework to a more evidence-driven and outcomes-focused model. This strategic approach will enable the Authority to better assess and address industry risks, allocate resources more effectively, and foster a more proactive and responsive regulatory environment.
Central to this enhanced oversight strategy are the compliance, player protection and sports betting integrity regulatory themes. By prioritising these key areas, the MGA aims to uphold the highest industry standards and reinforce its role as a trusted regulator.
Key outcomes of this refined regulatory approach include:
• Risk-Based Resource Allocation: Directing resources to high-risk areas to ensure more effective regulatory interventions;
• Enhanced Collaboration: Strengthening collaboration with operators to promote compliance and best practices;
• Proactive Risk Management: Anticipating and addressing emerging challenges in a dynamic gaming landscape.
This approach aligns with the MGA’s broader strategy to bolster the resilience of the online gaming sector, safeguard player interests and foster greater stakeholder confidence in a sustainable and well-regulated industry.
The post Malta Gaming Authority Enhances Regulatory Oversight and Outlines 2025 Supervisory Priorities appeared first on European Gaming Industry News.
CT Gaming has announced that its latest multigame, Diamond King 4, has officially received certification to launch in the Bulgarian market.
“The certification of Diamond King 4 marks a significant milestone, allowing us to expand our presence in gaming halls across the country. This further solidifies our market position and provides operators and players access to one of our most innovative offerings,” Biser Bozhanov, Director of Strategy & Business Development at CT Gaming, said.
Built on the success of its predecessors, Diamond King 4 is designed to exceed expectations and establish itself as the next favorite among players. Launched in celebration of the company’s 25th anniversary, this multigame embodies CT Gaming’s core values – innovation and tradition. It combines classic and modern titles, appealing to both long-time fans of iconic games and new-generation players with enhanced graphics and contemporary gameplay solutions.
One of Diamond King 4’s standout features is its integration with the progressive jackpot Diamond Tree Deluxe. The new concept introduces a variety of reward options and a more engaging player experience, enriched with additional bonus features. Furthermore, the multigame package includes the fan-favorite Duck of Luck, now featuring a fully updated Buy Bonus option.
“We believe this certification is just the beginning of Diamond King 4’s successful integration into key markets – both in Europe and globally,” Biser Bozhanov added.
The post CT Gaming Receives Approval to Launch Diamond King 4 in Bulgarian Market appeared first on European Gaming Industry News.
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