Compliance Updates
New Zealand Introduces Racing Act Changes to Extend TAB NZ Monopoly
New Zealand Racing Minister Winston Peters has announced the introduction of legislation to amend the Racing Industry Act 2020 which will extend TAB NZ’s current land-based monopoly for sports and racing betting to online.
The Racing Industry Act established TAB NZ for the purposes of funding the racing industry. It provides 90% of the racing industry’s revenue, which generates billions of dollars for the New Zealand economy and employs over 13,500 people.
“This legislation will enhance the long-term sustainability of New Zealand’s racing industry by making TAB NZ New Zealand’s sole provider for sports and race betting both on land and online,” said Mr Peters.
“Growing competition from offshore online betting operators poses a significant threat to the TAB NZ model.
“This change brings the model up-to-date with the current sports betting climate and will ensure the financial sustainability of the racing industry, as established in the Coalition Government’s Q4 Action Plan for New Zealand.”
The Bill makes a number of other changes to support the success of TAB NZ, including new oversight powers for the Minister to seek information from TAB NZ, and regulatory oversight of the prohibition on other operators.
“These oversight tools will ensure that TAB NZ can continue to deliver value for consumers and the racing industry, and to ensure that the ongoing viability of the industry,” Mr Peters said.
Other changes to the legislation include regulation-making powers for harm prevention and minimisation, and consumer protection, and removing the Point of Consumption Charge.
The Bill will be referred to the Governance and Administration Committee for a select committee process.
The post New Zealand Introduces Racing Act Changes to Extend TAB NZ Monopoly appeared first on European Gaming Industry News.
EGT Digital is proud to announce that it has obtained a licence that allows it to provide its software products in Brazil. The Bulgarian provider was certified by the regulator Secretariat of Prizes and Bets (SPA) and can now offer local operators its rich portfolio of gaming solutions, containing over 120 in-house developed casino titles and the 4 top-performing jackpots Bell Link, High Cash, Clover Chance, and Single Progressive Jackpot.
Tsvetomira Drumeva, Head of Sales at EGT Digital, shared her excitement regarding the authorization: “We are delighted to have the opportunity to present our gaming content to the Brazilian market. Our slots are available to domestic players, ready to captivate them with their numerous fascinating features and provide an unforgettable experience, fully tailored to their tastes and preferences.”
The post EGT Digital is a licensed software provider for Brazil appeared first on Gaming and Gambling Industry in the Americas.
Bettors in Arizona wagered approximately $791 million on sports in October of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 22% increase when compared to October of 2023.
The state collected approximately $2.35 million in privilege fees in the month.
The post Arizona Department of Gaming Releases October Sports Betting Figures appeared first on Gaming and Gambling Industry in the Americas.
7777 gaming has successfully certified 20 of its most popular games for the Peruvian market, aligning with recent legislative updates to enhance and regulate the local gaming environment. The recent developments are a logical step forward in the Peruvian market after securing a supplier license from the Peruvian Ministry of Foreign Trade and Tourism (MINCETUR) earlier last year.
“Peru is a dynamic and fast-growing market, and we’re thrilled to bring our unique games to players across the region. This is an exciting opportunity to establish long-lasting partnerships with local operators and elevate the Peruvian gaming experience.”, said Zhana Aleksandrova, Business Development Manager for Spain & Latin America at 7777 gaming.
Operating fully in compliance with Peruvian regulations under the entity Gaming Innovation OOD, and registered under license number PSV0208, 7777 gaming is set to introduce its portfolio of engaging and diverse online casino games to the Peruvian market. These include fan-favorite titles such as Crazy 100 Bucks, Barbarian, Candy Anyways, Devil’s Deal Soul for Sale, Club Mr. Luck, and many more. Known for their captivating visuals, immersive gameplay, and unique features, these games have already resonated with players in various international markets.
The 20 newly certified games on the market allow 7777 gaming to be live on the leading online operators in Peru and further strengthen its position as one of the most prominent online casino providers in Latin America.
About 7777 gaming:
7777 gaming is an innovative and data-driven B2B igaming provider, founded in 2020 with the mission to revolutionize and challenge the status quo in the industry by offering 360-degree platform, state-of-the-art online casino games, iLottery, Jackpot, and marketing solutions, draw-based games, scratch cards, and much more.
The product is built by a dedicated team of visionaries with over 20 years of experience. The games and the RNG are tested and compliant in several highly regulated jurisdictions worldwide. Besides, the company achieved and maintained ISO 27001 certification. 7777 gaming holds a gambling license in Bulgaria and Romania and an MGA Certificate to provide its online casino games to these markets.
7777 gaming is already partnering with the leading aggregators and platform providers in the igaming industry.
The post 7777 gaming secures certification for first set of games in Peru appeared first on European Gaming Industry News.
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