Compliance Updates
At the request of the French national gambling authority (ANJ), SORARE undertakes to evolve its gaming offer, pending adaptation of the legislation
In-depth discussions have been underway since March between the ANJ and SORARE regarding the tournaments that the company organises using the virtual cards it issues and markets. At its meeting at the end of September, the ANJ Board considered that the serious doubts regarding the legislation on gambling that this part of the offer raised justified a rapid change in the offer. The solution proposed by SORARE, consisting in of reinforcing free access to these tournaments, was accepted, under certain conditions, by the ANJ.
Following a period of in-depth discussions between the ANJ and the company SORARE that began in March, the ANJ Board considered that the serious doubts regarding the legislation on gambling raised by part of the company’s offer, that of card tournaments, justified its rapid development.
The company responded to this request by proposing a solution that strengthens free access to these tournaments, a solution that is based on a possibility offered by positive law.
This response is a transitional but essential step before the adoption of a permanent solution which requires an adaptation of the legislation to bring these new Web3 related activities within the framework of the regulation operated by the ANJ but with specific modalities.
During this transitional period, the ANJ will set up an ad hoc control mechanism for SORARE’s activity and will verify, on the one hand, the proper implementation of the “free access” solution and, on the other hand, the company’s compliance with the objectives of preventing excessive gambling and protecting minors, integrity and transparency of gambling operations and the fight against fraud and money laundering.
The solution adopted constitutes a necessary regulatory response to the offer proposed by SORARE and, more generally, to the emergence of new comparable offers, with a view to effectively protecting the public but also to supporting innovation.
Such a change in the SORARE offer must be operational by 31 March next year at the latest, after which the Authority reserves the right to use the powers it has under the law.
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Compliance Updates
Playnetic strengthens European presence with licence to operate in Sweden
Playnetic, the new immersive B2B iGaming provider has announced that it has been granted a Swedish licence, following regulatory approval from the Swedish Gambling Authority, Spelinspektionen.
The licence allows Playnetic to launch its catalogue of innovative iGaming titles in Sweden, enabling the company to finalise partnerships with prominent operators across the country.
This significant milestone marks a major step forward in supporting Playnetic’s ambitious growth plans, which include increasing its foothold in other European markets, as well as continued expansion in regulated markets across the globe.
Dan Phillips, Playnetic CEO said: “Since launching in early 2023, Playnetic has been exploring expansion opportunities in Europe to penetrate new markets and we are thrilled with achieving this milestone.
“Thanks to our experienced compliance team, we were able to obtain this licence promptly, which is a huge positive as the market entry lines up perfectly with our regulatory roadmap for 2024. We are looking forward to launching our innovative suite of games which feature captivating themes and mechanics to players and operators in Sweden.”
The post Playnetic strengthens European presence with licence to operate in Sweden appeared first on European Gaming Industry News.
Balkans
Bulgarian President Approves Gambling Law Amendments
Bulgarian President Rumen Radev has decided not to veto the proposed amendments to the Gambling Law, which include a prohibition on gambling advertisements in the media.
Previously, President Radev had indicated that he was deliberating on the changes to the Gambling Law and was awaiting input from his advisors before making a final decision.
The prohibition on gambling advertisements in the media was approved by a significant majority of deputies during the final session of the 49th National Assembly. Despite objections raised by various media outlets, gambling operators, sports clubs, and other businesses between the readings, the amendments were endorsed. Some stakeholders argued against the ban, suggesting that public discussion should precede its adoption.
The initiative for the amendments originated from GERB and DPS, and it was introduced unexpectedly during the last days of the 49th National Assembly by Yordan Tsonev (DPS) and Temenuzka Petkova (GERB). The bill swiftly progressed through the legislative process, passing its first reading in the budget committee and subsequently receiving approval in the plenary session. An extraordinary meeting of the Committee on Budget and Finance was convened to facilitate the voting on the amendments before the deputies commenced their pre-election recess.
The post Bulgarian President Approves Gambling Law Amendments appeared first on European Gaming Industry News.
Asia
Thailand Considers Limiting Gambling Areas to 5% of Total Project Space
The Thai government is exploring the possibility of restricting gambling areas within entertainment complexes to no more than 5% of the total project space. This proposal was revealed by Deputy Finance Minister Julapun Amornvivat, who also chairs the House committee responsible for evaluating the potential establishment of casino resorts in the country.
Amornvivat noted that the allocation of space for gaming activities within these entertainment complexes would be determined based on input from various governmental entities involved in a project.
Last month, Thailand’s cabinet approved a report from the National Assembly committee that examined the feasibility of introducing casino resorts in the country. The Ministry of Finance was tasked with conducting a 30-day study to assess the viability of implementing such a policy.
Each proposed venue would require a minimum investment of THB100 billion ($2.75 billion), according to the committee report. Amornvivat recently requested a two-week extension for the study period to further evaluate the matter in collaboration with 16 other government agencies.
The special House committee’s study focused on three main areas. First, it examined the potential impacts of introducing entertainment complexes with casinos on various aspects of Thai society, including economics, politics, social dynamics and the environment.
Second, the committee analysed the business framework of integrated entertainment venues, exploring revenue generation mechanisms such as taxes, fees and licensing structures. It recommended the implementation of specific casino taxes and the establishment of a fund aimed at addressing the negative effects of gambling activities.
Last, the report highlighted the importance of conducting a comprehensive review of the legal framework governing entertainment venues and gambling laws in Thailand. This effort aims to update existing legislation or develop new laws that align with the evolving societal landscape.
The post Thailand Considers Limiting Gambling Areas to 5% of Total Project Space appeared first on European Gaming Industry News.
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