Compliance Updates
Deadline approaching for Global Regulatory Awards 2020 submissions
February 14th is last chance to nominate individuals and teams for awards recognising excellence in compliance
The deadline for submissions to the GamblingCompliance Global Regulatory Awards (GRAs) 2020 is fast approaching and this year’s event will be more relevant than ever following increased scrutiny in the sector.
The deadline to submit nominations for the fourth edition of the GRAs is on the 14th of February and this year, the event features a record 18 categories recognising individuals and teams that work in the fields of regulatory compliance and responsible gaming.
The importance of the GRAs has continually grown since its inception in 2017 and with several jurisdictions currently strengthening its regulatory approach and introducing stricter rules around responsible gaming, the 2020 edition of the event is all the more relevant.
Many former award recipients have seen their reputations as leaders in regulatory compliance and responsible gambling enhanced after receiving GRAs recognition, the highest honour in this specialist field.
The event, which will this year take place on 22nd of April in London, is run by GamblingCompliance, part of VIXIO Regulatory Intelligence, the leading provider of legal, regulatory and business intelligence to the global gambling industry. Winners are selected by an independent panel of 14 industry judges led by an external independent adjudicator, ensuring that the GRAs are the most high-quality and transparent awards in the gambling industry.
Nominations are now open until 14th February to individuals, teams, businesses and industry newcomers and veterans alike.
Frances Fenemore, Chief Marketing Officer at VIXIO Regulatory Intelligence, said: “The industry is facing ever-increasing pressure from regulators and compliance is now top of all stakeholders’ agendas.
“Each year we have seen the GRAs grow and we expect this year to be no different with some excellent work currently being done around responsible gambling and we look forward to celebrating the individuals and teams that have contributed to evolving and improving this field.”
Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces their partnership with Alpha Innovations, a provider of data center services. Under the agreement Internet Vikings will supply Alpha Innovations with VMware licensing through its VMware White Label solution.
Alpha Innovations, known for being a leading Managed Services Provider including cloud computing, data storage, and backup, has chosen to partner with Internet Vikings, a member of the Broadcom Premier Partnership program. This membership highlights Internet Vikings’ capabilities in supporting large-scale and highly regulated environments.
Internet Vikings will provide Alpha Innovations with the essential VMware license, an asset for their cloud offerings. This addition enhances Alpha Innovations’ capability to set up and maintain regulated and compliant cloud environments while upholding their high standards.
“The added value of our licensing solutions and support services aligns perfectly with Alpha Innovations’ needs,” said Rickard Vikström, CEO and Founder at Internet Vikings.
Douglas Tate, CEO at Alpha Innovations added, “As a leading Managed Service Provider (MSP), Alpha Innovations is always looking for ways to improve our service offerings. Our partnership with Internet Vikings is a win-win for our clients. By leveraging Internet Vikings’ VMware licensing solutions, we can offer our clients more flexible, scalable, and secure cloud solutions. This will ultimately help our clients achieve their business goals more efficiently and effectively.”
Both companies are committed to maintaining a transparent and mutually beneficial relationship, demonstrating how data centers and hosting providers can collaborate to meet the licensing needs of the industry.
The Malta Gaming Authority (MGA) has awarded its first-ever ESG (Environmental, Social and Governance) Code Approval Seals to licensees in the online gaming sector, marking a milestone in the Authority’s commitment to promoting responsible and sustainable industry practices.
This initiative follows the launch of the voluntary ESG Code of Good Practice last year, which invited licensees to submit their ESG disclosure returns. The Code, which covers 19 topics categorised under Environmental, Social and Governance pillars, offers a strategic roadmap for online gaming companies to streamline their reporting efforts.
Following the first annual reporting cycle, 14 gaming operators have been awarded the ESG Code Approval Seal. The Code supports two levels of reporting: Tier 1, which establishes foundational ESG standards, and Tier 2, which represents a more aspirational approach.
Seals are valid for one year, with flexibility for renewal in the subsequent reporting period, allowing operators to advance or adapt their reporting tier year by year.
“We believe this initiative will significantly enhance the industry’s reputation and sustainability credentials,” MGA CEO Charles Mizzi said.
“By integrating ESG considerations into their operations, gaming companies not only contribute to the wellbeing of society and the environment but also strengthen the trust and confidence that consumers, investors, and regulators have in the industry. This initiative sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the gaming sector.”
The post MGA Issues First ESG Code Approval Seals to Licensees appeared first on European Gaming Industry News.
The Turkish Football Federation (TFF) has introduced new regulations to crack down on illegal betting advertisements in professional football.
According to the TFF, clubs found violating the new rules will face fines and, in case of repeated offenses, the deduction of points.
Under the updated guidelines, any club in the Turkish Super League involved in unauthorised betting promotions will face a tiered penalty system.
The first violation will result in a fine of 2 million Turkish Liras (around $58,000), and the second offense will incur a 5 million lira fine and a third violation will see the fine increased to 10 million liras. For subsequent breaches, clubs will be fined 10 million liras for each offense, along with a three-point deduction from their league standings.
“It is forbidden to promote or advertise betting organizations not licensed by competent authorities. This includes any media, billboards and other equipment used within stadium,” the TFF stated.
The TFF emphasised that the ban also applies to entities affiliated with these betting organisations, including those involved in promoting and advertising activities in a way that suggests endorsement of illegal betting.
The global scale of the illegal betting market is staggering, with the United Nations Office on Drugs and Crime estimating its worth at $1.8 trillion. In Türkiye alone, the sector is projected to exceed 100 billion liras, according to the Financial Crimes Investigation Board.
The post Turkish Football Federation to Penalise Clubs Promoting Illegal Betting appeared first on European Gaming Industry News.
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