Compliance Updates
LEC Introduces Sporting Financial Regulations
To support the long-term financial stability and competitive balance of the LEC, the league is going to introduce new financial regulations – known as Sporting Financial Regulations (SFR) – for the start of the 2024 LoL Esports Season.
The LEC SFR will encourage teams to maintain the total sum of its five highest-paid player salaries below a certain threshold, with teams exceeding the threshold having to pay an excess fee (SFR Fee).
In doing so, the LEC seeks to create a financially sustainable environment for its pro players, partnered teams, and the league itself, allowing all parties to grow at a healthy and scalable pace, and protect the ecosystem from unsustainable spending practices. In addition, the framework will support the league by creating a better competitive balance and more engaging competition, further enhancing the experience for players and fans.
“In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole. The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come,” said Maximilian Peter Schmidt, Director of League of Legends Esports EMEA.
SFR will encourage each team to maintain the total sum of salaries (known as SFR Spend) paid to the top five highest-paid players in a team within a certain range. The range includes both an upper spending threshold (SFR Threshold) and a lower spending threshold (SFR Floor), with the lower spending threshold amounting to 50% of the SFR Threshold. Meanwhile, the SFR Threshold is calculated based on a number of considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee.
An exception will be made to teams if a player enters into a contract with the team either during or before the end of the 2023 LEC Season Finals. In this instance, the SFR Spend will be reduced by one-fifth of the SFR Threshold or the actual salary amount; whichever is lower.
The policy will be introduced starting from the 2024 LEC Global Contract Start Date (21 November 2023), with the first cycle running until the 2024 LEC Global Contract End Date (18 November 2024).
The Malta Gaming Authority (MGA) has observed a pattern of websites impersonating MGA-licensed operators and misleading consumers into believing that they are licensed, regulated or otherwise authorised by the Authority in accordance with the Gaming Act (Chapter 583 of the Laws of Malta) and the regulatory instruments issued thereunder.
In light of this, the MGA published a list of three websites impersonating licensed operators. The websites are:
• www.manekicasino.bet
• www.dragonaracasino.uk.com
• www.slot-hunter.at
“The MGA is hereby declaring that it has no connection with the above listed URLs and any other website, platform and/or entity impersonating the Authority and/or MGA-licensed operators. Any reference to the MGA and/or gaming licence/s said to be issued by it, as stated on these domains, are false and misleading,” the MGA noted.
“The MGA would like to remind consumers not to utilise services provided by an entity unless they have ascertained that the entity in question is duly authorised to provide such services by the Authority. Whereas MGA-licensed operators comply with strict legal requirements in the interest of consumers, the activities of unlicensed entities are unregulated, and do not provide the necessary safeguards delineated by virtue of the gaming regulatory framework, making transactions with such entities risky for consumers.”
The post The MGA Publishes Notice on Websites Impersonating Licensed Operators appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Supplier secures AGLC registration and extends its Canadian footprint beyond Ontario, where it has been live since 2022.
Greentube has gone live in Alberta on the day the province opened as a newly regulated iGaming market, marking the supplier’s first launch in the jurisdiction.
The NOVOMATIC Digital Gaming and Entertainment division said it completed regulatory and technical due diligence and secured registration with the Alberta Gaming, Liquor and Cannabis (AGLC) commission to operate in the province. Alberta becomes only the second Canadian province to regulate iGaming after Ontario, with the new framework replacing the monopoly previously held by Play Alberta.
The Alberta launch builds on Greentube’s existing Canadian footprint. The company has been live in Ontario since 2022 and described the Alberta debut as part of its wider North American expansion strategy.
Greentube said Alberta players will initially have access to a curated set of titles including Piggy Prizes
Wand of Riches 2, Rumble Riches Haulin’ Gold and Firecracker Frenzy Money Toad, as well as Silver Lux Big Win Spinner, Starlight Jackpots Captain’s Catch and Charming Lady’s Boom.
David Bolas, Commercial Director at Greentube, said: “Going live in Alberta on the day the market opens is an important step for Greentube and reflects the strong momentum we are seeing in Canada.
“We welcome the opportunity a new jurisdiction offers and look forward to working with locally licensed operators to introduce our established offering to players in Alberta. With a balanced line-up of new releases and proven performers, we are well placed to offer a compelling experience in the province and support our long-term ambitions in the region.”
The post Greentube goes live in Alberta as province opens regulated iGaming appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Greentube, the NOVOMATIC Digital Gaming and Entertainment division, has gone live in Alberta as the Canadian province opens as a newly regulated iGaming market, providing a significant new opportunity for the supplier in North America.
The Alberta market opening marks a key moment for the Canadian iGaming industry, becoming only the second province to regulate after Ontario, and the open framework officially replacing the long-held monopoly previously held by Play Alberta.
Greentube’s go-live follows a rigorous regulatory and technical due diligence process, with the company securing registration with the Alberta Gaming, Liquor and Cannabis (AGLC) commission to operate in the province.
The development builds on Greentube’s established presence in Canada, where the company has been live in Ontario since 2022, and represents a significant step forward in its continued North American expansion strategy.
As part of the Alberta launch, players gain access to a curated selection from Greentube’s portfolio. The initial rollout includes Piggy Prizes Wand of Riches 2, Rumble Riches Haulin’ Gold and Firecracker Frenzy Money Toad, alongside established player favourites Silver Lux Big Win Spinner, Starlight Jackpots Captain’s Catch and Charming Lady’s Boom.
The mix has been carefully selected to reflect Greentube’s newest releases and strongest-performing titles, ensuring broad appeal for Alberta audiences from day one.
David Bolas, Commercial Director at Greentube, said: “Going live in Alberta on the day the market opens is an important step for Greentube and reflects the strong momentum we are seeing in Canada.
“We welcome the opportunity a new jurisdiction offers and look forward to working with locally licensed operators to introduce our established offering to players in Alberta. With a balanced line-up of new releases and proven performers, we are well placed to offer a compelling experience in the province and support our long-term ambitions in the region.”
The post Greentube strengthens Canadian presence with Alberta debut as market opens appeared first on Americas iGaming & Sports Betting News.
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