Compliance Updates
Pinnacle re-launches in Sweden as fully licensed operator
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Pinnacle has re-opened its Swedish site after a two-year absence in which it applied for a licence under the new regulatory regime.
The company received approval from the Swedish regulator in December 2019 but has waited for the right moment to launch. When Swedish football, the Allsvenskan, was given the green light to start this weekend, Pinnacle decided to open its doors once more with a full array of markets in time for the new season.
Pinnacle will offer a wide-range of sports and eSports betting in Sweden, covering all major sports and including Allsvenskan Women. Pinnacle is already a market leader in eSports betting and with Sweden being one of the biggest eSports markets in the world, there is significant room for growth. Before leaving the market in 2018 Pinnacle saw consistent double-digit annual growth in eSports betting in Sweden.
Pinnacle will bring its well-known high-volume, low-margin model to Swedes betting online. With an average margin of just 3.7% compared to an industry average of 7.2%, Pinnacle offers some of the best value and fairest pricing available. The company operates a responsible, fair and transparent model for customers, which is evidenced by the fact that the business has been granted a licence to operate in Sweden, which has one of the most stringent regulatory regimes globally.
Paris Smith, CEO of Pinnacle, said: ”This re-launch is a proud moment as Sweden is a key market for us, with many loyal customers having used Pinnacle over many years. The Swedish regulator is one of the most respected in the world and we are proud to meet the incredibly high standards they require to be recognised as a licensed operator. We believe that satisfying the requirements in Sweden means we can do it anywhere.
”We left the market on good terms and are returning as a fully licensed, regulated operator. We fully embrace the Swedish regulations and wanted to do things in the right way. Having done so, we now see this as an opportunity to contribute to a serious gaming environment in Sweden long-term and to be a key part in the development of the market.”
Pinnacle believes the long-term economic impact of a well-regulated online betting regime in Sweden could be notable, with a significant increase in the volume of bets in the coming years.
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Brian OâDwyer
NYSGC Appoints Terryl Brown to the New York Gaming Facility Location Board
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The New York State Gaming Commission (Commission) unanimously appointed Terryl Brown to the New York Gaming Facility Location Board (Board), which is overseeing the commercial casino siting process in the New York Metro region.
âThe Gaming Facility Location Boardâs work can be transformational for the State of New York. Ms. Brown brings a wealth of experience, expertise and public service to the team that will evaluate casino proposals. I thank her and the entire Board for its ongoing work and service to New York State,â Commission Chair Brian OâDwyer said.
Terryl Brown currently serves as Vice President and General Counsel at Pace University. Prior to taking her position at Pace, Brown served as Deputy Commissioner of Legal Affairs and Administration for the New York City Fire Department, where she oversaw operations and legal matters for a department comprised of 17,000 employees. Brown has also been Chief Ethics Officer and Counsel with the New York State Attorney Generalâs Office, Acting Counsel to Governor David Paterson, First Assistant Counsel to Governor Eliot Spitzer, a Commissioner of the New York State Joint Commission on Public Ethics, Executive Vice President and General Counsel at the New York Power Authority, and a Partner at Harris Beach PLLC.
Brown graduated from Pace University with a bachelorâs degree in political science; earned a masterâs from Villanova University; and a J.D. and M.B.A. from University of Pittsburgh. She completed an advanced finance program at the University of Pennsylvania.
Brown joins Vicki Been, Marion Phillips, III, Stuart Rabinowitz, and Greg Reimers on the Gaming Facility Location Board.
The Board is ultimately responsible for reviewing and evaluating casino applications and recommending up to three facilities for licensure.
The post NYSGC Appoints Terryl Brown to the New York Gaming Facility Location Board appeared first on Gaming and Gambling Industry in the Americas.
Compliance Updates
Dutch Gaming Regulator Publishes Match-fixing Trend Analysis 2024
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The Dutch gambling regulator, Kansspelautoriteit (KSA), has published its Match-fixing Trend Analysis for 2024.
In 2024, there were 13 reports from license holders, compared to 6 reports in 2023. The reports concern striking betting patterns, risky matches and striking changes in odds. Following the investigation into these signals, the KSA has issued 4 warnings and a guideline with guidance for the market will follow shortly.
In the Trend Analysis Match Fixing 2024, the KSA provides an overview of the reports it received in the period from 1 January 2024 to 31 December 2024. It concerns 13 reports of possible match fixing, originating from 8 different license holders. Compared to the trend analysis for the year 2023, the number of reports has more than doubled. Possible explanations are efforts by the KSA to create more awareness of the reporting obligation among licensed providers or a global increase in reports of match fixing. A number of the signals were reason for investigation. Based on this, the KSA issued 4 warnings.
The KSA will make even more efforts to point out to licensed providers their legal obligation to inform the KSA without delay of indications that point to an increased risk of manipulation of an involved match. Guidance for the market in the form of a guideline will follow shortly. In addition, the KSA will continue to monitor the signals.
One of the goals of the Gambling Act is to combat gambling-related match-fixing at licensed providers of sports betting. The KSA has no legal task in detecting match-fixing, but examines whether licensed providers do enough to prevent match-fixing.
For this purpose, the Sports Betting Intelligence Unit (SBIU) was established within the KSA, a reporting point for signals of possible match-fixing in gambling.
The post Dutch Gaming Regulator Publishes Match-fixing Trend Analysis 2024 appeared first on European Gaming Industry News.
Compliance Updates
Jackpot Digital Receives Maine Gaming License
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Jackpot Digital Inc., the worldâs leading provider of innovative dealerless electronic poker gaming solutions, has announced that it has received license approval from the Maine Gambling Control Unit (MGCU).
This milestone marks a significant achievement for the Company, as it is the first state-issued license it has received in the US. This state license allows the Company to install its casino machines throughout all of Maine.
âReceiving approval from MGCU is a major accomplishment. Until now, our U.S. licenses have been exclusively through our valued Indian Gaming casino partners, who issue licenses for their respective properties. A state license, however, grants us access to the entire state. We have several additional state licenses pending approval, representing a major expansion opportunity into larger state-regulated commercial casinos,â Jake Kalpakian, CEO of Jackpot Digital, said.
âMore immediately, this MGCU approval enables us to offer Jackpot Blitz to gaming operators across Maine. We are excited to bring our innovative products to Maineâs gaming community and reinforce our commitment to delivering cutting-edge technology-driven entertainment,â Mr. Kalpakian added.
Jackpot Digitalâs flagship product, the Jackpot Blitz ETG, offers a modern, dealerless, player-friendly poker solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The MGCU license will enable the company to offer its innovative gaming solutions to operators throughout Maine, driving new revenue opportunities and enhancing player experiences.
The post Jackpot Digital Receives Maine Gaming License appeared first on Gaming and Gambling Industry in the Americas.
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