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Gibraltar Requires Local Presence for Licensees in New Gambling Act

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Gibraltar has published a draft of its new Gambling Act for consultation that introduces five objectives for the regulation of gambling in the country, including a requirement for operators to have a “sufficient substantive presence” in the territory.

A stakeholder consultation on the bill is now open, allowing anyone affected to provide their input on the bill. Following the consultation, the bill will be introduced in Parliament.

The law introduces five objectives for the regulation of gambling in Gibraltar. These are the “preservation of confidence in gambling markets”, protection of consumers, particularly vulnerable people, promoting “fair and responsible” gambling, preventing links between gambling and crime and the public interest and reputation of Gibraltar.

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Regulus Partners, a global strategic advisory business focused on the sports and leisure sectors, noted that the first objective suggests a more holistic approach to the sector, rather than allowing authorities to “compartmentalise policies and regulatory requirements into one objective without thinking too hard about how it might affect the others”.

In terms of the final objective, Regulus noted that it showed Gibraltar intended to signal its credibility as a point-of-supply market rather than moving towards “dark grey” operations.

The rules also make changes to licensing. While licensing and regulatory bodies will continue to be separate, it introduces a requirement that licensees should have a “sufficient substantive presence” in Gibraltar. The wording of this rule was chosen in order to allow the Minister for Finance – who acts as the licensing authority – flexibility “in relation to equipment location and other matters.”

Factors going into this requirement include the “nature, extent, purpose and usage” of equipment in Gibraltar, the “number and nature of jobs to be created and maintained” and the amount of tax revenue paid.

The bill also lays out certain “threshold conditions” that all operators must meet to be licensed. These relate to the conduct of their business, the suitability of their owners, responsible gambling, prevention of crime and the location of their offices.

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“In other words, the core concepts are standards and suitability, and having a sufficient substantive presence in Gibraltar. These are the criteria both for the grant of a licence and, on an ongoing basis, for an own initiative decision by the licensing authority to consider revoking or varying a licence,” the Government said.

Much of the bill relating to the supervisory powers of the Gambling Commissioner, meanwhile, was drafted to be similar to Gibraltar’s Financial Services Act, in order to create “a common regulatory framework, and professional understanding and expertise across regulated economic activities with similar statutory regulatory objectives”.

The law stems from a report published in March 2016 reviewing Gibraltar’s licensing and regulatory regime.

A stakeholder consultation on the bill is now open, allowing anyone affected to provide their input on the bill. It will last until August 31, but the Gaming Division of the Gibraltar Ministry of Finance said it would “encourage early consideration of the material”.

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1 Reddit Post = 1,120 FTDs — No Site, No Backlinks!

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Who says SEO has to be slow, boring, and backlink-hungry?

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No website
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The post 1 Reddit Post = 1,120 FTDs — No Site, No Backlinks! appeared first on European Gaming Industry News.

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DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering efforts 

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DeepDive today announced the launch of a revolutionary AI platform for Anti-Money Laundering (AML) compliance teams that conduct Enhanced Due Diligence (EDD) and player investigations.

AML teams at gaming operators face an impossible trade-off, they can either conduct thorough investigations that take days, or fast investigations that may miss critical intelligence. On top of that they have to be able to assess source of funds on customers all over the world.  DeepDive combines multi-language web search and global regulatory compliance data checks to extend the reach of EDD. Compliance teams can now sift through the digital ocean of open-source data including public records, corporate filings, court documents, news archives, social media profiles and PEP, sanctions and watchlist data to build customer intelligence.

Using a unique combination of search tools, natural language processing, entity resolution and generative AI, DeepDive enables EDD research to go further and deeper, accessing more sources, in any language or alphabet.  Instead of analysts spending hours clicking through search results and manually cross-referencing information, DeepDive’s AI processes hundreds of sources simultaneously and presents EDD reports viewable by timeline, alert type or risk category. Analysts can then interrogate the body of knowledge with the built-in chatbot to get to the heart of the matter, helping them make more informed risk decisions.

The team behind DeepDive is staffed by industry veterans that have previously launched, scaled and exited several fraud investigation and KYC platforms.

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 “DeepDive addresses the pain points facing compliance teams such as time-intensive manual research, incomplete data, language barriers, false positives, and the challenge of processing vast amounts of information at scale,” said David Pope, COO at DeepDive.

“We’ve now completed a successful six-month beta with MLROs and outsourced EDD providers. DeepDive has helped them build deeper intelligence on high-risk customers from all over the world, in a fraction of the time.  Not only are we uncovering intelligence that the manual EDD approach misses, but with the time saved, gaming operators can extend EDD across a wider set of customer transactions.”

DeepDive strengthens EDD by creating multiple search permutations across publicly available data and targeted compliance databases in relevant languages and local search engines. After creating the most exhaustive possible dataset for analysis, entity resolution refines the data pool to remove false positives.  Multiple generative AI tools are then used to build a structured intelligence report with full citations to original sources and an audit trail.

The DeepDive report covers personal background, legal issues, financial integrity, compliance history, and key relationships, revealing financial insight, known associates, locations, company linkages, political connections, and criminal activity—all structured for immediate analysis.

The post DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering efforts  appeared first on European Gaming Industry News.

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iRace Media extends partnership with The Hong Kong Jockey Club in Asia

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iRace Media has announced the renewal of its long-standing partnership with The Hong Kong Jockey Club (HKJC) ahead of the new season commencing on 7 September.

The partnership will ensure racing fans can continue to experience uninterrupted access to high-quality Hong Kong racing content across Singapore, Malaysia and the wider Asia region. iRace readers and customers will have access to expert guides, results, tips and trusted analysis from one of the world’s premier racing jurisdictions.

Scott Bailey, Commercial Manager, iRace Media says:

“Hong Kong is a benchmark for racing globally; it’s fast, competitive and deeply followed throughout Asia. iRace has collaborated with the Hong Kong Jockey Club for many years now to deliver a trusted experience for racing enthusiasts, and we are thrilled to build on the accuracy, depth and speed that fans have come to expect.”

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iRace Media’s extended partnership with the HKJC will explore new ways to enhance the racing experience through its digital platforms, offering real-time insights and driving fan engagement across the Asia region.

Get set for the new season by visiting the iRace website and register for free to access trusted editorial and data-driven racing coverage.

The post iRace Media extends partnership with The Hong Kong Jockey Club in Asia appeared first on European Gaming Industry News.

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