Compliance Updates
Swifty Global (Dear Cashmere Holding Company), Confirms the Award of its UK Gambling License
Dear Cashmere Holding Company, known as Swifty Global (Swifty), is a technology company focused on creating ground-breaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Following its award of the Curacao license in November 2021, Swifty is now pleased to announce that it has successfully obtained its UK gambling license. The coveted UK license is the “Gold Standard” and one of the most difficult gambling licenses in the world to obtain. Its award now allows Swifty to upload its eagerly anticipated Swifty Predictions application to the UK Apple and Android stores, allowing users in the UK to download the app and register their account. In addition, Swifty has completed their 3rdparty security audit and is now adding the relevant payment providers. This couldn’t take place until the UK license was approved. Once the payment gateway is live, the software will be submitted for certification which, once obtained, will be made available in the licensed regions. Swifty’s in-house development team are working overtime to ensure that the product goes live as quickly as possible. The commercial team is simultaneously working on obtaining several further gambling licences, including for certain states in the USA.
To grow its user base in the licensed regions, Swifty is preparing to roll out its aggressive marketing plan, with the initial focus being to capture as many users as quickly as possible. From this point, the highly interactive Swifty predictions app brings a new form of engaged betting to users which Swifty is confident will stimulate a substantial amount of viral marketing.
After the successful “soft launch” of its Digital Wallet during the month of March, where several thousand users downloaded and used Swifty’s pre-configured digital currency wallet, the official launch of both the Swifty Wallet and Swifty Predictions app will take place in May. The official launch functions are expected to encompass several celebrity endorsements.
The Swifty Wallet will offer a referral scheme within the wallet itself. This will allow users to refer the app to other users, thereby earning credits which will be cashed in against the Swifty Token. The Swifty Token is scheduled to be launched once Swifty’s user base has reached a critical mass. The company anticipates this being in Autumn 2022. Referral vouchers will also double up to enter referrers into weekly prize draws.
Swifty will aggressively target the UK market to rapidly gain a lucrative share of the existing market whilst also creating a new category of gambling with its proprietary “swipe” technology for micro betting. This will create a new market of users who enjoy a more social, fun, and engaging form of gambling. According to the UK Gambling Commissioner, the UK’s online sports betting and casino gambling market was worth 6.9 billion pounds between March 2020 and April 2021. This was up 18.4% from the previous year. Despite the size of the UK market, there are only 287 companies that have a remote betting operating license and 469 companies that have a gambling software development license in the UK.
Swifty Global CEO, James Gibbons, commented, “We are ecstatic to have finally obtained this license following months of processes to demonstrate our compliance. We were always confident of obtaining the license since, in addition to our compliance, our technology, AML, and KYC capability is both next generation and world leading. However, it is a process that we had to go through, and we are very pleased to now finally be in the game within one of the world’s most active and lucrative gambling markets. We are excited to launch the Swifty Predictions app, especially since it’s within a few weeks of the successful launch of our Swifty Wallet. I am extremely proud of what we have accomplished and incredibly optimistic about our next quarter of business and beyond.”
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Cease-and-desist letters cite alleged felonies and underage access tied to BetOpenly, Bookmaker, Club WPT Online Poker, Kutt Inc., and Raffle Creator.
The Arizona Department of Gaming said it has issued cease-and-desist orders to five online platforms—BetOpenly, Bookmaker, Club WPT Online Poker, Kutt Inc., and Raffle Creator—after investigations that the Department says involved alleged illegal gambling activity and underage access in Arizona.
In its announcement, the Department said each enforcement action alleges conduct giving rise to three felonies under Arizona law: promotion of gambling, illegal control of an enterprise, and money laundering. The agency cited Arizona’s prohibition on gambling unless specifically authorized (Ariz. Rev. Stat. Tit. 13, Ch. 33) and said the legal gambling age in the state is 21.
“Arizona is taking decisive action against illegal gambling operators that put Arizonans at risk,” said Jackie Johnson, Department Director. “Our top priority is protecting Arizonans and I’m grateful for the efforts of our intelligence unit led by Chief Law Enforcement Officer Doug Jensen to do just that. Through these cease-and-desist orders we are putting operators on notice: their conduct runs contrary to Arizona law and they must stop promoting illegal gambling.”
The Department’s letters describe different alleged violations by operator. For BetOpenly, the Department said peer-to-peer gambling rules prohibit third-party benefit, and alleged the platform benefited via a commission structure while enabling event wagering and daily fantasy sports contests without the required state licenses, including availability to underage Arizonans. For Bookmaker, the Department said its investigation found wagering on horse racing, casino games, and sports betting without an event wagering license or an advanced deposit wagering provider license, adding that online casino games are not legal in Arizona.
For Club WPT Online Poker, the Department alleged the platform enabled individuals under 21 in Arizona to enter pay-to-play online poker tournaments for prizes while using deceptive “no purchase necessary” language; the Department said online poker is illegal in Arizona. For Kutt Inc., the Department said Arizona “social” gambling prohibits third-party benefit and directed the operator to stop allowing Arizona users to deposit money and wager on sports, politics, pop culture, and casino-style games. For Raffle Creator, the Department said the operator did not meet requirements that allow Arizona nonprofits to conduct lawful raffles and alleged it allowed people under 21 to purchase tickets for prize chances.
The Department said the notified entities are directed to immediately stop all gambling operations and activities in Arizona “whether through mobile applications, online, or otherwise,” and to cease any future illegal gambling in the state. It added that future actions may include criminal charges or civil action against entities, principals, and employees, and that operators “may be subject to a potential award of restitution” and forfeiture of monies acquired due to the alleged conduct.
The post Arizona regulator orders five operators to stop alleged illegal gambling activity appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
Arizona Department of Gaming Issues Cease-and-Desist Orders to Multiple Operators Linked to Underage Gambling and Illegal Activity
Investigations into five online platforms lead to cease-and-desist orders alleging Arizona felonies: Promotion of Gambling; Illegal Control of an Enterprise; and Money Laundering
The Arizona Department of Gaming (Department) announced today that it has issued cease-and-desist orders to the following entities: BetOpenly, Bookmaker, Club WPT Online Poker, Kutt Inc., and Raffle Creator. Each enforcement action alleges conduct giving rise to the following felonies: promotion of gambling, illegal control of an enterprise, and money laundering. The cease-and-desist orders underscore the Department’s commitment to guard the integrity and safety of Arizona’s regulated gaming market while promoting consumer protection.
“Arizona is taking decisive action against illegal gambling operators that put Arizonans at risk,” said Jackie Johnson, Department Director. “Our top priority is protecting Arizonans and I’m grateful for the efforts of our intelligence unit led by Chief Law Enforcement Officer Doug Jensen to do just that. Through these cease-and-desist orders we are putting operators on notice: their conduct runs contrary to Arizona law and they must stop promoting illegal gambling.”
The cease-and-desist orders outlined below follow Department public safety initiatives aligned with Arizona law, which prohibits gambling unless it is specifically authorized (Ariz. Rev. Stat. Tit. 13, Ch. 33) and where the legal age to participate in gambling is 21 years old.
Regarding BetOpenly, peer-to-peer gambling in Arizona prohibits any third-party from benefiting, and that the peer-to-peer sports betting and casino games on the BetOpenly platform benefited the operator via a commission structure. Further, the Department alleges that BetOpenly enabled event wagering and daily fantasy sports contests without the requisite state licenses, facilitated availability to underage Arizonans, and allegedly engaged in illegal felony conduct: promotion of gambling; illegal control of an enterprise; and money laundering.
View cease-and-desist letter here: gaming.az.gov/sites/default/files/BetOpenly_Signed%20Cease%20and%20Desist_Redacted.pdf
Regarding Bookmaker, the Department found through its investigation that the platform facilitates wagering on horse racing, casino games, and sports betting, without holding an event wagering license or an advanced deposit wagering provider license. Online casino games are not legal in Arizona. The Department alleges that Bookmaker engaged in illegal felony conduct: promotion of gambling; illegal control of an enterprise; and money laundering.
View cease-and-desist letter here: gaming.az.gov/sites/default/files/Bookmaker_Signed%20Cease%20and%20Desist_Redacted.pdf
Regarding Club WPT Online Poker, the Department alleges that the platform enabled Arizona individuals under the age of 21 to engage in pay-to-play online poker tournaments for prizes while using deceptive “no purchase necessary” language. Online poker is illegal in Arizona. The Department alleges that Club WPT Online Poker engaged in illegal felony conduct: promotion of gambling; illegal control of an enterprise; and money laundering.
View cease-and-desist letter here: gaming.az.gov/sites/default/files/ClubWPT%20Online%20Poker_Signed%20Cease%20and%20Desist_Redacted.pdf
Regarding Kutt Inc., the Department warned the operator that legal “social” gambling in Arizona prohibits any third-party benefit, as seen in Kutt Inc.’s operations. The Department directed the platform to stop allowing users located in Arizona to deposit money into accounts and wager on sports, politics, pop culture, and play casino-style games. The Department alleges Kutt Inc. engaged in illegal felony conduct: promotion of gambling; illegal control of an enterprise; and money laundering.
View cease-and-desist letter here: gaming.az.gov/sites/default/files/Kutt%20Signed%20C%26D_Redacted.pdf
Regarding Raffle Creator, the Department identified that the operator, which did not meet the requirements that allow Arizona nonprofits to conduct lawful raffles, allowed people under the age of 21 to purchase tickets for the chance to win prizes. The Department alleges that the operator engaged in illegal felony conduct: promotion of gambling; illegal control of an enterprise; and money laundering.
View cease-and-desist letter here: gaming.az.gov/sites/default/files/Raffle%20Creator_Signed%20Cease%20and%20Desist_Redacted.pdf
With the cease-and-desist orders, notified entities are directed to immediately stop all gambling operations and activities in Arizona, whether through mobile applications, online, or otherwise, and are further directed to desist from any future illegal gambling operations in the state. Future actions may include the filing of criminal charges or a civil action against entities, principals, and employees, and the operators may be subject to a potential award of restitution to those who lost money as well as an action for forfeiture of all monies acquired due to the illegal conduct.
Arizona residents are encouraged to Check Your Bet: verify that any gambling, event wagering, or fantasy sports platform appears on the Department’s list of approved operators before participating. Regulated gaming operators are subject to Arizona statutes and rules, including applicable taxes or financial contributions that benefit the state. Regulated gaming provides important consumer protections, ensuring fair play and fair winnings, data security, accountability, and a safer overall experience.
Consumers may contact the Department about potential illegal gambling activities by emailing [email protected] or by calling 602-255-3886; consumers may remain anonymous when submitting information and tips.
The post Arizona Department of Gaming Issues Cease-and-Desist Orders to Multiple Operators Linked to Underage Gambling and Illegal Activity appeared first on Americas iGaming & Sports Betting News.
Asia
KONAMI GROUP’s Konami Gaming Inc. First to Submit Manufacturer License Application in Japan’s Emerging IR Market
KONAMI GROUP CORPORATION’s long-established gaming & systems group company Konami Gaming Inc. announced it has become the first manufacturer to submit license applications with the Japan Casino Regulatory Commission (JCRC), government regulatory agency set forth by The Cabinet of Japan. Additionally, Konami is the first manufacturer to file across all applicable license categories. These filings represent milestone events for the nation’s regulatory framework, as Japan’s emerging integrated resort (IR) market progresses in responsible development. As a leading manufacturer of casino games and technology in 400+ regulated markets worldwide, Konami is taking proactive measures in support of the Japan IR market, highly relevant to the organisation’s rich heritage as a Japanese company.
“Konami’s early filing demonstrates our commitment and readiness to engage constructively with Japan’s regulatory framework from the outset. We have approached this process with a focus on transparency, preparation, and alignment with the stringent standards established by the JCRC,” said Lori Olk, senior vice president & chief compliance officer at Konami Gaming Inc.
Construction is currently underway for the first integrated resort in Japan—an expansive development planned for 2030 opening by one of the world’s largest casino and entertainment operators. Against this backdrop, Konami’s early submission positions the company to participate during the formative stages of this emerging regulated market. Committed to the long-term health of Japan’s IR market, Konami has invested significant resources in localisation, documentation and operational planning to ensure alignment with the nation’s legal, regulatory and cultural expectations. The supplier has leveraged its longstanding compliance infrastructure, governance processes and global licensing experience to fulfill detailed requirements of the Japanese regulatory framework.
“This milestone in Konami’s application process with the JCRC represents a significant, coordinated effort across multiple business units and jurisdictions, supported by decades of experience operating in highly regulated gaming markets worldwide. As Japan continues to expand its IR framework, Konami remains focused on supporting regulatory objectives and partnering with stakeholders to deliver compliant, high-quality gaming solutions tailored to the needs of the Japanese market,” said Tom Jingoli, president & chief operating officer at Konami Gaming.
The post KONAMI GROUP’s Konami Gaming Inc. First to Submit Manufacturer License Application in Japan’s Emerging IR Market appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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