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).
Compliance Updates
EUROMAT Objects to Croatia’s Decision to Advance its Legislative Process Without Notifying the European Commission
The European Gambling and Amusement Federation (EUROMAT) has submitted to the European Commission its objection to Croatia’s failure to notify the Croatian Gambling Act (PZ_42) under the TRIS procedure.
Several proposed amendments qualify the Croatian Gambling Act (PZ_42) as a technical regulation under Directive (EU) 2015/1535 warranting formal notification. EUROMAT is concerned that the Croatian Government is proceeding with its legislative process without any notification.
The law includes mandatory player identification for venue entry, a self-exclusion register, advertising restrictions, strict rules on the location of gambling venues, restrictions on days of operation, increased licensing fees and taxation.
Member States must notify any national provisions that restrict market access or the provision of services. Failure to comply with the notification procedure constitutes a breach of EU law, potentially leading to the suspension of the law’s application and the initiation of infringement proceedings. Croatia’s decision not to notify comes despite the country notifying its gambling law in 2014 which resulted in the legislation being withdrawn following scrutiny from the European Commission. Croatia also notified a law in 2023 with substantive impacts for the amusement sector and there are more than 500 examples in the European Commission’s TRIS database of similar notifications from across Europe.
EUROMAT President Jason Frost said: ”If the Commission is serious about strengthening the Internal Market then it has to ensure that Member States respect the law.
“The Commission intervened in 2014 and as a result Croatia had to withdraw its gambling law which underlines how important the notification procedure is. The Commission needs to intervene again but this time to ensure that Croatia actually notifies. Companies need legal certainty to invest and operate in Europe and if the Commission allows Member States to disregard their responsibilities then it sets a very concerning precedent.”
Filip Jelavic, General Sectary of the Croatian Gaming Association, said: “It is inconceivable that any European Member State could be allowed to introduce such far reaching and disruptive legal changes without following the correct procedure. We are calling on the Croatian Government to act responsibly in this case and follow the law.”
The post EUROMAT Objects to Croatia’s Decision to Advance its Legislative Process Without Notifying the European Commission appeared first on European Gaming Industry News.
Bruce Cassidy
VIP Play Obtains Interim West Virginia iGaming and Sports Wagering Management Service Provider Licenses
VIP Play Inc. announced the approval of its interim License in West Virginia for both Sports Wagering and iGaming managed services. This follows the recently announced market access partnership between VIP Play and Delaware North’s Wheeling Island Casino.
This milestone marks the company’s initial expansion beyond Tennessee, where it currently operates as a mobile Sports Wagering Operator. The interim License in West Virginia also adds iGaming to the company’s book of business, and allows VIP Play to participate in the rapidly expanding i-Gaming industry. VIP Play expects to begin serving West Virginia customers in the coming months.
Bruce Cassidy, VIP Play CEO & Chairman of the Board, said: “The acquisition of our interim Sports Wagering and i-Gaming License in West Virginia marks a significant milestone in our journey to expand, underscoring our commitment to provide innovative experiences to a wider audience. As we grow our presence, our dedication to excellence stands firm, and we’re excited to play a role in enriching West Virginia’s dynamic gaming community.”
The post VIP Play Obtains Interim West Virginia iGaming and Sports Wagering Management Service Provider Licenses appeared first on Gaming and Gambling Industry in the Americas.
New certification for emerging-markets leader arrives ahead of key industry summit in Sao Paulo and awards recognition
QTech Games, the leading game aggregator for emerging markets, has had its platform and games successfully approved for the Peruvian market, demonstrating that its premier B2B platform and all-encompassing content conforms to the latest legislative updates to enhance and regulate Peru’s local gaming environment.
Peru’s Ministry of Foreign Commerce and Tourism (MINCETUR) has now issued an online gaming licence to QTech Games, whereby all its platform products and games are now deemed legally permitted. This includes its new software service for retail, QTech Hybrid, which allows land-based partners to scale their operations online. QTech Hybrid simplifies transactions by enabling deposits, withdrawals and gameplay while allowing access to players both in-shop and on personal devices.
This breakthrough hybrid solution has quickly won clients and awards in the comparably fragmented African market (most recently in March for Best Innovation at AGE Lagos), and now promises to do likewise across LatAm, where QTech Games has already signed several major clients for both its aggregation platform and its QTech Hybrid solution. This activity has seen it again nominated for Best Aggregator at the SiGMA Americas Awards, which kickstart the SiGMA Americas summit (7-10 April) next week, as the igaming world converges on Sao Paulo for a must-attend conference in another of QTech Games’ “focus markets” for 2025.
Philip Doftvik, QTech Games’ CEO, said: “It’s fantastic to have certified our aggregation platform in Peru via MINCETUR – and I’m pleased to say we have more such approvals pending across the continent. We attended fantastic events in Rio and, more recently, SAGSE 2025 in Buenos Aires – and anticipate more of the same at SiGMA Americas in Sao Paulo next week, where we’re also thrilled to have been shortlisted for Best Aggregator at their LatAm Awards. Given the venue, Brazil will be dominating the discussion for many at SiGMA Sao Paulo. However, we’ll also be looking beyond Brazilian borders this year, and are already active in Mexico, Chile, Colombia and Paraguay. We know our QTech Hybrid solution will work very well wherever we put a pin on the LatAm map.”
QTech Games delegates will be present at five more LatAm summits in 2025, with SiGMA Americas (7 April) the next port of call – followed by GAT Expo Cartagena (28 April), SBC Americas (13 May), Peru Gaming Show (18 June) and GAT Expo Mexico (28 Aug).
The post QTech Games sharpens its LatAm focus with MINCETUR licence in Peru appeared first on Gaming and Gambling Industry in the Americas.
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