Baltics
The Lithuanian Gaming Control Authority (LPT) has completed its inspection: Olympic Casino has been fined almost 8.4 million euros
The company Olympic Casino Group Baltija (OCGB) did not take sufficient steps to identify the origin of Šarūnas Stepukonis’ losing funds, and the monitoring of his financial transactions was only formal and ineffective. Such violations were identified by the Gaming Supervisory Authority, which conducted an inspection of OCGB’s activities in Lithuania. The company was fined almost 8.4 million euros.
The Gaming Supervisory Authority (LPT) investigated the actions taken by OCGB in response to Š. Stepukonis’ transactions on the company’s gaming website from December 2016 to the end of June 2021. The law obliges gaming operators to ensure that customer funds are not obtained from criminal activities or through participation in such activities. It is also mandatory to verify the origin of the funds. LPT found that the measures applied by OCGB were poor and insufficient, and the monitoring of Š. Stepukonis’ transactions was formal.
Gambling organizers must report suspicious transactions to the FNTT. Š. Stepukonis’ transactions had obvious signs that should have raised suspicions for the gambling organizer. However, the FNTT was not informed about this.
During the inspection, evidence was also collected that Š. Stepukonis’ gambling was irresponsible. The gambling company should have noticed this, especially since the client was assigned a personal manager who saw all of his transactions.
“Instead of finding out whether Š. Stepukonis had a gambling problem or informing the supervisory authority, Olympic Casino encouraged him to gamble even more. An individual incentive package was prepared for him. A total of 1.3 million euros was allocated for this. This “bonus” could only be spent on gambling. Other incentives were also allocated,” – comments on the results of the inspection by LPT Director Virginijus Daukšys.
Since mid-2021, gambling companies in Lithuania have no longer been allowed to offer incentives to their customers that they would later lose. Just before this tightening came into effect, Š. Stepukonis’ virtual gambling was moved from Lithuania to Estonia, where it was still allowed to encourage gamblers.
In this way, it was possible not only to maintain incentives for gambling, but also to avoid supervision by the LPT. If an ordinary gambler from Lithuania tried to go and register on the Estonian Olympic Casino website, he would be redirected to the Lithuanian website. However, in the case of Š. Stepukonis, the redirection was not carried out. These circumstances are part of the pre-trial investigation.
During the inspection, a total of five violations of the provisions of the Law on the Prevention of Money Laundering and Financing of Terrorism and the Law on Gambling were identified.
The law allows for a fine of up to twice the amount of damage caused. The damage was determined to be 6.4 million euros – the amount Š. Stepukonis lost at the Olympic Casino in Lithuania. When calculating the fine, an aggravating circumstance was taken into account – the company did not cooperate during the inspection.
According to V. Daukšys, after this story came to light, steps were taken to prevent similar cases from recurring. The most important change is the law, proposed by the LPT, which obliges gambling companies to take action upon noticing irresponsible gambling and to provide information about it to the LPT.
“Until now, there was no such obligation. Therefore, the LPT did not have information that would allow it to take preventive actions in advance,” says V. Daukšys.
The new Gambling Law will come into force in November this year. Its aim is to reduce the accessibility, attractiveness and potential harm to personal health of gambling.
LPT also reviewed its procedures, adjusted internal procedures, allowing for more frequent scheduled inspections of the activities of gambling companies. In addition, the Ministry of Finance conducted an audit of LPT’s activities. No significant operational deficiencies were identified during the audit. LPT took into account the audit recommendations and allocated more human resources to money laundering prevention functions.
Source: Gambling Supervisory Authority under the Ministry of Finance of the Republic of Lithuania
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Push Gaming continues to grow in the Baltic region thanks to its latest commercial partnership with OlyBet.
The agreement with the number one gaming and entertainment brand in the Baltics now offers Push Gaming’s complete range of popular slots to players throughout Latvia and Estonia. Key titles from the Razor Shark and Retro series are now available, along with highly anticipated releases such as Wild Swarm Triple Hive and Bamboo Ways, due to launch soon.
Launching with OlyBet follows other recent European growth for Push Gaming in Bulgaria, Spain, and Serbia, and maintains Push Gaming’s ambitious strategy in regulated markets.
Andy Bentley, Chief Operating Officer at Push Gaming, said: “Having our content live with market leaders such as Olybet is a key pillar of our commercial strategy. OlyBet provides us with a fantastic partnership and a shared ambition to grow in both regions.
“We’re scaling our collaborations globally to meet player demand, and our thriving relationship with the leading brand in Latvia and Estonia is another important milestone in our progress.”
Tomas Graham, Chief Operations Officer at OlyBet, added: “The added strength of Push Gaming’s slots in our lobby is considerable, and we’re delighted to have them available for our players.
“It is essential for us to offer the best games available to ensure OlyBet provides the best experience possible and remains the first choice in entertainment across each market.”
The post Push Gaming levels up in Latvia and Estonia with OlyBet appeared first on European Gaming Industry News.
Baltics
HIPTHER Joins Forces with Ace Alliance as Strategic Media Partner – Kicking Off with Ace Alliance Riga 2025
HIPTHER proudly announces its Strategic Media Partnership with Ace Alliance, the dynamic iGaming media hub under the Revpanda Group. This new collaboration begins with the highly anticipated Ace Alliance Riga 2025, taking place on August 14–15 in the heart of the Baltics.
Ace Alliance has quickly emerged as a force in the iGaming community, connecting professionals through curated events and immersive experiences. HIPTHER, the parent brand behind several of Europe’s most respected media outlets and boutique conferences in Gaming and Technology, is excited to support and amplify Ace Alliance’s vision through its online media outlets.
Supporting Real Connections at Ace Alliance Riga 2025
Ace Alliance Riga 2025 is designed for real conversations, real experiences, and real growth. With over 500 iGaming professionals expected, this two-day summer getaway in Riga offers a refreshing approach to networking – blending business and leisure for lasting impact.
From a private Daugava River cruise and executive business brunch to guided cultural walks and legendary parties, VIP ticket holders are treated to high-value interactions in an unforgettable setting. Keynotes from respected industry voices like Alexandre Tomic will further fuel strategic thinking and innovation.
HIPTHER will actively support the visibility and promotion of Ace Alliance’s events – beginning with this Riga edition – across its expansive global media network. In return, Ace Alliance becomes an official Media Partner for HIPTHER’s lineup of exciting conferences.
Zoltán Tűndik, Co-Founder and Head of Business at HIPTHER, stated about the partnership: “At HIPTHER, we thrive on identifying and supporting meaningful movements in the industry, and Ace Alliance is exactly that. Their community-first approach, creative event format, and focus on authentic connections make them a standout new player in the media and events space. We’re thrilled to support their growth and extend the experience to our audiences across Europe and beyond.”
Get Ready for a Summer to Remember
With limited VIP passes still available and sponsorship spots quickly filling up, now is the time to secure your place. Stay tuned to HIPTHER’s channels for upcoming announcements, featured stories, and an exclusive discount code for our audience.
Join the experience at Ace Alliance Riga 2025:
👉 https://acealliance.com/events/riga-2025/
Let the networking begin!
The post HIPTHER Joins Forces with Ace Alliance as Strategic Media Partner – Kicking Off with Ace Alliance Riga 2025 appeared first on European Gaming Industry News.
Content deal expands reach in Nordics and Baltics
Award-winning game studio Peter & Sons has bolstered its presence in the Nordics and Baltics via an eye-catching new content deal with Entain-owned NinjaCasino.se, a leading online casino brand in the region.
Peter & Sons’ unique and highly inventive portfolio of weird and wonderful slots is now live on NinjaCasino.se, including player favorites such Barbarossa Revenge, Ghostfather – Awakened, Boom Farm, Gunpowder, Wild Duel, Xibalba, Blood Club, Epic Hellas, Mutagenes, Evil Devil, Dungeon Tower & Potion Power.
Known for their hand-drawn animation style, original cinematic soundtracks, and unique gameplay mechanics, Peter & Sons’ games are some of the most strikingly original on the market today.
With an unwavering commitment to the “anti-boring,” the Maverick Barcelona-based studio builds games that dare to be different, with an emphasis on storytelling, audio-visual excellence and pure playability.
This milestone marks a significant step in Peter & Sons’ European growth strategy and further strengthens its relationship with Entain. The studio continues to expand its reach across regulated markets via strategic partnerships with tier-one operators.
Yann Bautista, Commercial Director and Founder at Peter & Sons said: “We’ve always strived to craft games that stand out not just visually, but in how they play and engage. Ninja Casino has always had a cool, edgy vibe, and that fits our style. This partnership gives us a fantastic opportunity to connect with a new audience that we believe will really appreciate what we do.”
Andreas Larsson, Casino Manager at Ninja Casino said: “We are always looking to enrich our games lobby with content that delivers something different. Peter & Sons is a studio we’ve admired from afar for some time. Their distinctive visual style, innovative game mechanics, and consistent production quality make them a standout developer in today’s crowded market.”
The post Peter & Sons Launches Top Titles on NinjaCasino.se appeared first on European Gaming Industry News.
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