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888 DENMARK ORDERED TO ADDRESS ANTI-MONEY LAUNDERING FAILURES

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888 DENMARK ORDERED TO ADDRESS ANTI-MONEY LAUNDERING FAILURES

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Image credit: 888 Denmark

Online gambling operator 888 Denmark has been warned by the Danish Gambling Authority for breaching the Danish AML Act.

Spillemyndigheden has said that 888 Denmark’s procedures were not compliant with section 25 of the Act – requiring operators to investigate unusually large transactions, patterns and activities that aren’t clear for an economic or legal purpose.

Furthermore, the regulator says 888 Denmark also breached section 26 of the Act, by failing to report suspicious transactions, funds or activity to the State Prosecutor for Serious Economic and International Crime.

Giving an example, the regulator pointed to an instance where an individual customer made deposits of over DKK 1m ($148,533) into their account in the first three months after opening it.

Despite the operator performing background checks using publicly available online material, it wasn’t until the player in question made deposit of DKK 600,000 over the course of just a few days that they were asked to provide proof of assets or income.

The player failed to provide the required proofs, but 888 Denmark nevertheless allowed them to keep gambling for nearly a month before closing the account.

Spillemyndigheden says that, in this case, the operator should have acted much quicker to report the transactions and prevent the customer from playing.

888 Denmark has now been ordered to update its anti-money laundering procedures.

 

 

AYO.NEWS says:

Things are getting tougher all round for gambling operators in Denmark. Not only is Spillemyndigheden getting tough on AML compliance and reporting, as demonstrated by 888 Denmark’s case, but the tax burden shouldered by operators is set to rocket by a massive 40% in 2021 (read more).

 

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.


iGaming

PLAY’N GO EXPANDS LATIN AMERICAN REACH WITH BETWARRIOR

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Image credit: Play’n GO

Malta-based Play’n GO has expanded its reach in the rapidly growing LatAm market, going live with BetWarrior.

BetWarrior was launched by Morten Tonneson and José Del Pino, former marketing directors of PokerStars, with the aim of redefining the mobile gaming sector.

Commenting on the news BetWarrior co-founder, José Del Pino, said:

“We have a clear vision of where we want to go and how to deliver quality entertainment to the players in the region. Play’n GO is an ideal partner for us to join forces with; they bring top quality content and a wealth of experience, that is going to make 2020 a great year for us.”

 

While head of sales and account management at Play’n GO, Magnus Olsson, added:

“BetWarrior has been built by a highly knowledgeable and experienced team, with a deep understanding of the LatAm market. We are very happy to collaborate with them on their successful journey, and we look forward to their players enjoying a quality selection of Play’n GO games.”

 

Latin America is becoming an increasingly important market for many suppliers and operators. In September, Play’n GO also entered a partnership with multinational Spanish operator Codere, giving it a strong foothold in key LatAm markets like Mexico and Colombia.

It’s been a good end to the year for Play’n GO, with the company picking up the title of Mobile Gaming Provider of the Year at the Malta Gaming Awards during SiGMA 2019.

 

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iGaming

SOFT2BET TO ENTER JAPANESE MARKET WITH ALFCASINO BRAND

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Soft2Bet, the casino and sportsbook group, has announced it will be entering the Japanese market for the first time, launching its AlfCasino brand in the country.

Evolution Gaming will be supplying Soft2Bet with live casino, along with multiple versions of Baccarat, Dragon Tiger and dice games. They will be rolled out to the Japanese market alongside the already extensive portfolio of Roulette, Blackjack tables and Game Shows – live casino games with presenters, including Money Wheel, Monopoly, and Deal or No Deal.

The operator will be offering Japanese casino players popular local payment options including Ecopayz, StickPay and Venus Point.

Commenting on the news Head of Casino at Soft2Bet, Teodora Breskovska, said:

“We are thrilled to be entering Japan with AlfCasino, the first brand in our portfolio to be available in this exciting market.

“Looking forward, we are planning to expand our offering to the customers with more games by more software suppliers, as well as a greater variety of promotions to reward the customer’s loyalty. So, stay tuned!”

 

Soft2Bet was launched in 2017 and now has offices in Ukraine, Bulgaria, Cyprus and Malta. The company has SGA, MGA and Curacao licenses, and is in the process of obtaining further EU licenses.

 

AYO.NEWS says:

The Japanese online gambling market is potentially extremely lucrative, though it can prove challenging for European-based operators to understand the subtle cultural nuances critical to success in the country.

 

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

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iGaming

BET365 REPORTS £3BN REVENUE AND 23% ACTIVE CUSTOMER GROWTH FOR 2018/19

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British online gambling giant Bet365 has reported annual revenue of almost £3 billion for the 2018-19 fiscal year, ending 31st March.

Bet365’s annual gaming revenue hit the £2.98 billion mark – a 10% year-on-year increase. The company’s operating profits were also up 12% to £767.1 million, and profits after tax jumped 16% to £681.7 million year-on-year.

Significantly, Bet365’s active customer base across all platforms rocketed by 23% year-on-year, while new customers contributed £64.5 billion to the company’s overall betting handle, a 22.7% jump year-on-year.

Notably, in-play betting contributed a staggering 79% of Bet365’s betting revenues, and mobile betting grew 18%.

 

AYO.NEWS says:

Well, we think its safe to say its been a pretty good fiscal year for Bet365! Of course, next year may present some challenges as the company, which has significant operations in Gibraltar, braces for Brexit (read more), but on the whole, with a new world of opportunity to exploit in the United States (read more), the future seems very bright!

 

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

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iGaming

HABANERO DEBUTS IN PORTUGAL WITH CASINO SOLVERDE

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Slots and table games provider Habanero has entered the Portuguese market for the first time, through a deal with Casino Solverde.

Casino Solverde, Portugal’s second largest online casino operator, has integrated Habanero’s portfolio of certified slot games, including Santa’s Village, Wild Trucks, and Mount Mazuma.

Commenting on the news, European Head of Business Development at Habanero, Arcangelo Lonoce, said:

“We pride ourselves in creating immersive casino content well-suited to a variety of players. Signing with a highly-respected operator such as Casino Solverde demonstrates the success of our approach.

“Entering another key market also typifies our plans for expansion across the world’s leading territories and I am confident that our games will be as popular in Portugal as elsewhere.”

 

While Director at Solverde, Américo Loureiro, added:

“Habanero has a proven track-record of producing innovative slot and table games, and we’ve no doubt that the supplier’s premium content will be a hit.

“Partnering with high-quality providers such as Habanero reinforces our reputation as Portugal’s leading operator, and we look forward to a productive commercial relationship.”

 

Staying with Habanero, just three weeks ago AYO.NEWS reported the company was also expanding its Italian footprint, through a partnership with major operator SISAL (read more).

 

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iGaming

VEIKKAUS BRACES FOR REVENUE SLUMP DUE TO NEW CORPORATE RESPONSIBILITY MEASURES

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Veikkaus, the Finnish gambling monopoly, has warned it is expecting to lose €50m in revenue next year because of new corporate responsibility measures.

In a statement, the operator said it expected earnings to fall to about €963m – around the same it generated back in 2014 when it was structured as three different companies.

The new responsibility measures blamed for the predicted revenue drop include mandatory identification for its slots and other games, reducing the number of slot machines it operates, and introducing a completely new, more responsible marketing strategy.

Financial reporting will also be updated to bring it in line with the International Financial Reporting Standard.

Veikkaus’ CEO, Olli Sarekoski, has previously admitted the operator hasn’t done enough to reduce gambling harm, and the company’s marketing has come under fierce attack by Finland’s National Institute for Health and Welfare, national media and the public this year – causing it to take the drastic step of unilaterally suspending advertising in August (read more).

The operator reported a 4% fall in year-on-year revenue for the nine months to September 2019.

Staying with Veikkaus, just last week AYO.NEWS reported Yggdrasil’s casino games portfolio had gone live with the operator (read more).

 

AYO.NEWS says:

Veikkaus is in a difficult position. Being the only license operator in Finland, it is well and truly under the spotlight all the time, and is expected to be a beacon of responsibility. However, as we all know, in reality it also has to compete with a huge number of unlicensed offshore operators – none of whom are under the same scrutiny or subject to the same rules.

If ever there was a case for market liberalisation to promote responsible gaming it is the Finnish situation!

 

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

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iGaming

TRUNARRATIVE & PLAYTECH LAUNCH IGAMING GLOBAL COMPLIANCE PLATFORM

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Playtech logo

TruNarrative and Playtech have launched a new iGaming global compliance platform.

According to the companies, the new platform enables Playtech’s customers to benefit from a single platform to manage customer risk, including: Age & Identity Verification, Document Validation, Safer Gambling Services, PEP & Sanctions Screening and Ongoing Monitoring.

Gaming operators using Playtech’s IMS platform can now use the TruNarrative solution via direct integration, enabling multi-brand risk management strategies to be built from within a single platform.

Discussing the platform head of regulatory affairs and compliance at Playtech, Ian Ince, explained:

“The increasingly complex regulatory framework is the single biggest challenge facing gambling businesses operating in regulated markets. This partnership will help operators answer this challenge.”

 

While VP of product strategy at Playtech, Anthony Evans, said:

“In linking Playtech’s core gaming products and its BetBuddy safer gambling analytics software with TruNarrative’s compliance platform, we are enabling operators to access a unique safer gambling solution.”

 

And, head of gaming at TruNarrative, Adam Doyle, added:

“We are excited to be working with Playtech and are looking forward to delivering truly innovative customer onboarding, safer gambling and risk management solutions to its partners.”

 

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