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Compliance Updates

500.com Limited Malta-Based Subsidiary Temporarily Suspends Operations in Sweden

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500.com Limited, a leading online sports lottery service provider in China, today announced that the The Multi Group (“TMG”), a Malta-based subsidiary of the Company, has temporarily suspended its operations in Sweden as TMG did not complete the eGaming license renewal before its expiration.

TMG is in close communication with Sweden’s eGaming regulatory authority and expects to renew its license and resume operations in Sweden in mid-February 2020.

The Company expects that revenues from TMG during the first quarter of 2020 will be materially and adversely impacted by the temporary suspension of operations in Sweden. Revenue generated by TMG accounted for approximately 99.1% of the Company’s total net revenues during the third quarter of 2019, of which approximately 61.3% was generated from Sweden.

 

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About 500.com Limited:

500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China.

SOURCE 500.com Limited

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Compliance Updates

Soft2Bet Secures General Licence for Other Games in Spain

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Soft2Bet, a leading iGaming provider and operator, has acquired a General Licence for other games by the Directorate General for the Regulation of Gambling (DGOJ) in Spain. This licence authorises Soft2Bet to offer casino products in the Spanish market, reinforcing the company’s commitment to providing a safe, secure and fully compliant online gaming environment that meets the highest standards of responsible gaming.

This regulatory milestone allows Soft2Bet to expand its portfolio and deliver tailored casino gamification experiences to Spanish players. By focusing on localised content and innovative features, Soft2Bet continues to align with Spain’s evolving market landscape and player preferences.

Operating across multiple markets, Soft2Bet provides highly customisable solutions powered by its proprietary Motivational Engineering Gaming Application (MEGA). The company’s flexible approach combines off-the-shelf solutions with bespoke options, ensuring the right level of customisation to meet the diverse needs of its partners.

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Leveraging its extensive B2C experience, Soft2Bet has successfully developed and operated multiple brands, such as CampoBet, Betinia, Don.ro across various highly competitive markets. This has served as a strong proof of concept, delivering high-performance results, increased retention and strong acquisition rates.

David Yatom Hay, General Counsel of Soft2Bet, said: “Securing this licence in Spain marks a significant step in our ongoing expansion and reinforces our commitment to compliance and responsible gaming. Our rapid growth and dedication to industry standards enable us to provide exceptional gaming experiences tailored to the needs of Spanish players and market alike.”

The post Soft2Bet Secures General Licence for Other Games in Spain appeared first on European Gaming Industry News.

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Delasport Enters the South African Market

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After successfully complying with Brazil’s brand-new regulations, Delasport’s sportsbook is now officially certified for the South African market as well.

Gaming Laboratories International (GLI) issued an Affirmative Statement of Compliance to the global B2B supplier, making their expansion possible in numerous SA jurisdictions: Gauteng, Mpumalanga, KwaZulu-Natal, Western Cape, Eastern Cape, Northern Cape, Free State, North West, and Limpopo.

This functional certificate opens the door to cutting-edge sports betting features for the South African audience. Advanced personalization through My Sportsbook, My Event Builder, and My Combo makes Delasport’s solution a critically acclaimed product.

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South Africa and Africa in general are becoming more and more important points on the global iGaming map, since they have a rising population of more than 1.5 billion people according to the United Nations Economic Commission for Africa. Nearly 60% of the population are aged 25 or below. This contributes to the fact Africa is the fastest-growing mobile market with a ‘leapfrogging phenomenon’ – millions of people’s first experience of the internet is via their mobile devices.

‘We are excited to enter such a promising regulated market like South Africa and show what real localization looks like,’ Delasport’s CEO Oren Cohen Shwartz comments. ‘At Delasport, we believe in being both global and local – always thinking about the big picture while not losing sight of the smallest details. For us, entering the South African market doesn’t simply mean translating the interface, but tailoring the experience according to their habits, local providers, regional content, and much more.’

The post Delasport Enters the South African Market appeared first on European Gaming Industry News.

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Compliance Updates

Michigan Gaming Control Board Orders MyBookie.ag to Cease Operations in the State

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The Michigan Gaming Control Board (MGCB) has issued a cease-and-desist letter to Duranbah Limited N.V., the operator of MyBookie.ag, based in Curaçao. The site offers a variety of casino-style games, such as slots, poker, and live-dealer games like blackjack, roulette, and craps. It also allows users to place bets on sporting events and horse races.

MGCB Executive Director Henry Williams stressed the agency’s dedication to safeguarding consumers and ensuring compliance with Michigan’s gaming regulations.

“Our investigation into MyBookie.ag found that their operations were accessible to Michigan citizens, which violates state laws. We are taking strong action to uphold the principles of fair and legal gaming,” Williams said.

MyBookie.ag offers numerous payment methods for deposits and the funding of players’ accounts, including Visa, MasterCard, American Express, PayPal, various cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others), and MoneyGram. However, withdrawals can only be made via Bitcoin or bank wire transfer.

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The MGCB’s investigation revealed that MyBookie.ag’s operation of online casino-style games for paying customers, without a valid Michigan gambling license, breaches several state laws, including:

• Lawful Internet Gaming Act: Internet gaming is only permitted by licensed operators. Only casinos licensed under the Michigan Gaming Control and Revenue Act and federally authorized tribal casinos within Michigan may apply for such a license.

• Michigan Gaming Control and Revenue Act: Operating a gambling business without an MGCB-issued license is a felony, carrying penalties of up to 10 years in prison, a fine of up to $100,000, or both.

• Michigan Penal Code: Gambling, which involves consideration, prize, and chance, is broadly prohibited. Accepting money or anything of value with the understanding that it will be paid based on the outcome of an uncertain event is illegal.

Duranbah Limited N.V. has 14 days from receipt of the letter to cease offering gambling services to Michigan residents, as required by the cease-and-desist letter. If the company fails to comply, the MGCB is prepared to collaborate with the Michigan Attorney General’s Office for further legal actions.

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The post Michigan Gaming Control Board Orders MyBookie.ag to Cease Operations in the State appeared first on Gaming and Gambling Industry in the Americas.

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