REEVO, proudly announces its certification to enter the Italian iGaming market. This certification marks a significant milestone in REEVO’s journey to becoming a global powerhouse in online gaming, as it brings the company’s innovative portfolio of in-house and third-party games to one of Europe’s most dynamic and established markets.

As one of the most regulated and thriving iGaming landscapes, Italy offers an incredible opportunity for REEVO to connect with new audiences and solidify partnerships with top-tier operators. With this certification, REEVO is poised to deliver its high-quality content to Italian players, ensuring a seamless gaming experience that combines advanced technology, captivating game design, and localized features tailored to the Italian market’s preferences.

“This certification is a landmark achievement for us,” said Karl Grech, Head of Business Developent of REEVO. “Entering the Italian market reflects the relentless dedication of our entire team. We’ve always aimed to provide operators with the best aggregation platform and players with unforgettable gaming experiences. Italy represents a key step in our global expansion, and we’re excited to bring REEVO’s innovative spirit to this vibrant market.”

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REEVO’s expanding library includes hit games like Electro Reels Power Portal and Bullfighting Champion, along with several titles, all of which are now available to Italian operators. The company’s commitment to creating localized, engaging content ensures that Italian players will experience games designed to meet their tastes while maintaining the quality and creativity REEVO is known for.

With a strong focus on fostering long-term partnerships, REEVO is well-positioned to collaborate with key Italian operators. “We are excited to work closely with our partners in Italy to bring something fresh and engaging to the market,” said Karl Grech, Head of Business Development at REEVO. “Having worked in Italy for over 15 years, I’ve developed strong connections that will be invaluable as we establish our presence here.”

As REEVO takes this bold step into the Italian market, the future holds even more promise. With upcoming game releases, continuous platform enhancements, and a focus on delivering exceptional value to operators and players alike, REEVO’s Italian journey is only just beginning.

“We’re not just entering the Italian market; we’re making a statement,” Karl Grech added. “REEVO is here to elevate the iGaming experience, and we’re thrilled to be part of Italy’s exciting gaming landscape.”

AUSTRAC commenced civil penalty proceedings in the Federal Court against Entain Group Pty Ltd (Entain), which operates online betting sites including Ladbrokes, Neds and other online betting brands. The proceedings allege serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.

AUSTRAC CEO Brendan Thomas said the agency considers there were systemic failures in Entain’s approach to its AML/CTF obligations.

“AUSTRAC’s proceedings allege that Entain did not develop and maintain a compliant anti-money laundering program and failed to identify and assess the risks it faced. We are alleging this left the company at serious risk of criminal exploitation.

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“Money laundering is often a symptom of serious criminal activity, including fraud, scams and corruption, all of which have equally serious effects on our communities,” he said.

AUSTRAC’s allegations include that:

• Entain’s board and senior management did not have appropriate oversight of its AML/CTF program, which limited its ability to identify the ML/TF risks it faced and its vulnerability to criminal exploitation.

• Entain operated a 24/7 business through its website and app, which created risks that persons unknown to Entain could access and use Entain’s betting platform including through third party providers.

• Third parties, including businesses and individuals, accepted cash and other deposits on behalf of Entain to be credited into betting accounts in ways that could obscure the proceeds of crime. Cash is less transparent than other forms of money and is at higher risk of being the proceeds of crime.

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• Entain did not have appropriate controls to confirm the identity of customers making these deposits and the source of this money.

• Entain did not conduct appropriate checks on 17 higher risk customers, including examples where Entain did not appropriately deal with the risk that its online betting sites were being exploited by criminals to spend the proceeds of serious crime. This includes allegations that Entain deliberately obscured the identity of some high risk customers, on its own systems, through the use of pseudonyms to “protect their privacy”.

“This is the first time AUSTRAC has brought civil penalty proceedings against businesses operating in the online betting sector, and the Australian arm of Entain is part of one of the world’s largest sports betting and gaming groups,” Mr Thomas said.

“The online betting sector, and all other businesses regulated by AUSTRAC, must take their AML/CTF obligations seriously. This includes ensuring they have appropriate procedures to know who their customer is, even when they rely on third parties to process transactions.”

The action taken is part of AUSTRAC’s ongoing work focussed on gambling businesses in Australia to fight money laundering opportunities in the gambling industry. Following the Federal Court ordering Crown pay $450million in penalties over 2 years in 2023, this year AUSTRAC has seen the Federal Court order SkyCity to pay $63M penalty for breaches to the AML/CTF Act, accept an enforceable undertaking from Sportsbet, continue the Federal Court case against Star and are continuing the regulatory focus on a number of other gambling entities across Australia.

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Additionally, the launch of the money laundering National Risk Assessment this year highlighted the highly exposed nature and vulnerability to money laundering online betting agencies face. This valuable resource has been developed support business better understand and develop appropriate measures to mitigate their risks.

It is now a matter for the Federal Court of Australia to determine whether Entain contravened the Act and, if so, what orders to make. AUSTRAC will not provide further comment on this enforcement action while the matter is before the Court.

Non-confidential Court documents related to the Entain matter will be available on the enforcement actions taken page in due course.

“AUSTRAC continues to actively driving out money laundering opportunities in Australia’s gambling industry and we’ll be tireless in our efforts to remove the ability for criminal to use our financial system to their own gain,” Mr Thomas said.