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The head of the Presidential Anti-Organised Crime Commission (PAOCC) in the Philippines has issued a warning that local scam syndicates connected to online gambling now pose a threat to law and order on par with illegal drug use.
PAOCC Executive Director Gilbert Cruz said that online scammers, due to their higher earnings and greater difficulty in tracking, present a more challenging problem than drug dealers. He stated that “the problem with online scams is now worse than drugs”.
Cruz referred to data from the police Anti-Cybercrime Group, which indicated that in the year leading up to August, authorities had rescued 4,092 Filipinos and foreigners who had been deceived into working under conditions of slavery by scam syndicates.
During the first eight months of the year, there were 397 arrests related to cybercrime out of 16,000 police investigations, with more than half involving online scams. Most of the rescued victims were involved in activities linked to licensed foreign-facing online gaming operators (POGOs), a trend that has grown alongside the prevalence of online scamming in mainland Southeast Asia.
Cruz said that the risk of online scammers being caught was lower than for drug traffickers, since the former hide behind fake identities. Additionally, online operations are harder to trace and chase.
Philippine gaming regulator PAGCOR recently warned against the proliferation of websites using the PAGCOR logo without permission to mislead the public that their activities are connected with licensed offshore gaming in the Philippines. PAGCOR Chairman and CEO Alejandro H. Tengco said he strongly advised the public to exercise caution when accessing such online gaming websites because of the risks posed by identity theft and financial scams.
Join the upcoming SiGMA event in CuraçaoSiGMA Curaçao is less than a week away. It will be held in from the 25 – 28 September. The event is hosted by the Ministry of Finance in association with SiGMA Curaçao
Don’t miss this exclusive opportunity to be part of SiGMA Curaçao, where you can gain valuable insights into the new gambling legislation, explore the thriving iGaming industry, and connect with key players in Curaçao. Check out all the details here.
Register here to secure your place at this landmark event.
The chances of MGM Resorts International (NYSE: MGM) winning two of the three highly sought-after full-scale casino licences in New York City have become complicated due to an unfolding bookmaking scandal in Las Vegas.
The bookmaking scandalMGM Grand and Resorts World, operators of the Empire City Casino in Yonkers and the Resorts World Casino at the Aqueduct Race Track in Queens, were considered frontrunners in the state-run licensing process, which is expected to conclude next spring.
The uncertainty surrounding these licences emerged after Scott Sibella, the former head of the MGM Grand casino in Las Vegas, was compelled to resign as president and operating chief of Resorts World
The report noted Resorts World said Sibella's sudden exit from the company on Friday was "effective immediately" over "failing to disclose certain information required under company policies."
This news arrives at an inopportune and challenging moment for MGM, as they are presently recuperating from a recent cyberattack spree aimed at casino giants.
A deep-rooted story
According to a recent report, federal agents are investigating whether employees at MGM Grand, where Scott Sibella was president in 2017 and 2018, had been syphoning off company assets to pay gambling debts to bookie Wayne Nix. Nix had pleaded guilty in 2022 for operating a massive, illegal gambling operation and filing false tax returns.
The report also noted that this scandal could be a bigger problem for MGM Resorts International (NYSE: MGM) than Resorts World, as the former was allegedly involved in the conduct. However, Resorts World would still need to get rid of the stain.
This news could be beneficial for MGM’s rivals in the casino race. Some of the strong contenders include Bally’s Corp (NYSE: BALY), Caesars Entertainment Inc (NASDAQ: CZR), Las Vegas Sands Corp (NYSE: LVS), and Wynn Resorts Limited (NASDAQ: WYNN).
One week away from SiGMA CuraçaoSiGMA Curaçao, the highly anticipated event for the iGaming industry, is just around the corner. The event is scheduled to take place from 25th to 28th September in Curaçao and is hosted by the Ministry of Finance in association with SiGMA Curaçao.
This event is an exclusive opportunity for you to gain valuable insights into the new gambling legislation, explore the thriving iGaming industry, and connect with key players in Curaçao.
In conversation with industry expert Aideen Shortt, the Founder and CEO of Lilywhite Consulting, who teamed up with SiGMA reporter Maria Debrincat, SiGMA's latest podcast unravels the intricate details of Curacao's latest regulatory transformations. Part 1 of this two-part series focuses on understanding the driving forces behind these pivotal changes, crucial dates in the regulatory calendar, and the anticipated effects on operators and the broader gaming ecosystem.
As Shortt delved into the motivations behind the legislative changes, it became evident that one of the key topics discussed in the podcast, is the urgent need to stimulate the island's economy and address the stark contrast in revenue generation when compared to other global gaming jurisdictions.
Aideen Shortt began by outlining the threefold motivation behind the legislative changes. First and foremost, the aim is to stimulate Curaçao's economy, which has not been fully capitalising on the potential revenue from the gaming sector. Currently, the government collects a relatively small license fee of 10,000 guilders per month per license, equivalent to approximately 250,000 Euros per annum, a stark contrast to other global jurisdictions, which generate hundreds of millions, if not over a billion Euros annually.
Secondly, the legislation seeks to foster local skills and employment opportunities within the gaming workforce. While there won't be immediate drastic changes, the long-term goal is to build expertise and make Curaçao a center of excellence in the high-tech gaming industry.
The third objective revolves around Anti-Money Laundering (AML) standards. The existing legislation falls short of the necessary international financial regulations, despite the majority of operators voluntarily complying with these standards. The new laws will mandate adherence, ensuring better financial transparency and security.
Shortt emphasised that the legislation isn't intended to destroy the gaming industry but to restructure it, aligning it with global gambling regulations and benefiting both the government and the people of Curaçao.
Key dates:
Switching gears, Aideen Shortt provided valuable information on key dates and application processes under the new legislation. September 1st marked a significant milestone in the process of regulatory changes in Curaçao. On this date, the Gaming Control Board (GCB) opened itself up to new license applications, signaling the beginning of a major transformation in the jurisdiction. It's worth noting that these applications are still being processed under the existing law, ensuring continuity for master licenses and sub-licenses. This portal is providing access to application forms and essential information. Notably, the portal has already garnered significant attention, with over 3,000 unique visitors and an average of 15,000 daily page views.
The introduction of direct licenses for operators is a notable change. While these direct license holders won't be permitted to issue sub-licenses, it presents a new avenue for operators seeking a more direct relationship with the gaming authority.
The registration process for existing sublicense holders is set to begin on November 1st. This registration serves as a census to identify who will continue operating under the new Gaming Authority when the legislation is enacted.
Crucially, the portal will open for direct operator license applications on November 15th. It's essential to clarify that this process falls under the current legislation and doesn't require complex local substance requirements. The application involves having a Curaçao-based company with a registered address and at least one local director. Supporting documentation includes standard forms, corporate disclosures, and personal disclosures for Ultimate Beneficial Owners (UBOs) and key personnel.
Aideen stressed that these requirements are straightforward and should not be a cause for concern. Successful applicants will receive a provisional license within approximately two months, allowing them to operate. They will then have six months to submit audited policies and procedures, completing the application process.
Staying current with regulatory changes:
Shortt emphasised the importance of staying up to date with regulatory changes, given the evolving nature of the gaming industry. The discussion centered around the impact of these changes on operators and the overall gaming ecosystem.
Operators moving to other jurisdictions:
Aideen addressed the speculation surrounding some operators considering relocation to other jurisdictions such as Anjouan and Canadian tribes. While acknowledging that businesses must make decisions that align with their interests, she pointed out the increased value of a Curaçao license in light of ongoing reforms.
The government's commitment to improving the jurisdiction's reputation and aligning with global standards is evident. It's clear that the Ministry of Finance and the Gaming Control Board are working diligently to make Curaçao an attractive and responsible gaming destination.
Government's expertise and support:
In response to concerns about the government's ability to navigate these legislative changes, Aideen assured that Curaçao has the necessary expertise and support. The legislation has undergone extensive input from industry stakeholders and experts, a process that has spanned months and, in some cases, years.
The legislative journey, while challenging, is progressing steadily. The legislation is now at the stage of the Council of Advice, the final step before it goes to Parliament. Aideen emphasised that while the process may be standard, it is essential to ensure that the resulting legislation is workable and attractive for all stakeholders.
Operational effects:
Regarding the operational effects of the new legislation, Aideen provided assurance that there will be no surprises for operators. The government's objective is to restructure the industry, not reinvent it. The upcoming regulations aim to align Curaçao with international gaming standards and practices.
Stay tuned for Part 2 of this series on SiGMA News where we'll provide you with practical insights into the operational effects of these regulatory changes, address concerns about AML, KYC, and responsible gaming, and explore the transition from the Gaming Control Board (GCB) to the Curacao Gaming Authority (CGA). Keep an eye out for the next piece where we'll continue to decode the intricacies of this evolving landscape.
Watch full podcast here:
SiGMA Curacao is less than a week away. It will be held in from the 25 – 28 September. The event is hosted by the Ministry of Finance in association with SiGMA Curacao
Don’t miss this exclusive opportunity to be part of SiGMA Curacao, where you can gain valuable insights into the new gambling legislation, explore the thriving iGaming industry, and connect with key players in Curacao. Check out all the details here.
Register here to secure your place at this landmark event.
PAGCOR (The Philippine Amusement and Gaming Corporation) yesterday announced another major move towards the privatisation of its casinos by partnering with the Development Academy of the Philippines (DAP) in facilitating its reorganisation process.
PAGCOR Chairman and CEO Alejandro Tengco said they tapped DAP’s technical assistance to comply with the requirements of the Governance Commission for GOCCs (GCG) in the implementation of its Compensation and Position Classification System or CPCS which is needed prior to privatisation.
“We thank the Development Academy of the Philippines for being a prime mover of competency building in government,” Mr. Tengco said. “We need their help to comply with the (documentary) requirements of the GCG and in our efforts to eventually implement the CPCS that our employees have been eagerly waiting for,” he said.
Mr. Tengco made the remarks after he and DAP President & CEO Atty. Engelbert Caronan, Jr. signed the Memorandum of Agreement for PAGCOR’s reorganisation. PAGCOR Vice President for Human Resource and Development Group Angelito Domingo and DAP Vice President for Mindanao Dr. Mark Lemuel Garcia also signed the agreement.
Mr. Tengco said he also wants to engage DAP in the facilitation and conduct of trainings for PAGCOR officers and employees to enhance their skills and competencies.
Mr. Caronan for his part expressed gratitude to PAGCOR for believing in DAP’s capability to help implement organisational changes that would be beneficial to the state gaming firm’s workforce.
“We would like to thank PAGCOR for their trust and confidence in this partnership; we are ready to provide the necessary technical services to make the agency GCG-compliant and help it carry out its reorganisation efforts,” he said.
The DAP is a government-owned and controlled corporation mandated to assist agencies and local government units in their development efforts by acting as a change catalyst and as capacity builder.
It helps facilitate the shaping of new government policies, crafting development programs and modernizing the management structure of government agencies and private enterprises alike.
Speaking to SiGMA Magazine in his first sit-down interview as PAGCOR Chairman and CEO, Alejandro H Tengco had said “the new management believes that as a government entity, it should have a clearly defined function. Having a dual role – as an operator and a regulator at the same time – is contrary to business ethics.”
Join the upcoming SiGMA event in CuraçaoSiGMA Curaçao is less than a week away. It will be held in from the 25 – 28 September. The event is hosted by the Ministry of Finance in association with SiGMA Curaçao
Don’t miss this exclusive opportunity to be part of SiGMA Curaçao, where you can gain valuable insights into the new gambling legislation, explore the thriving iGaming industry, and connect with key players in Curaçao. Check out all the details here.
Register here to secure your place at this landmark event.
In a recent SiGMA podcast, host Trevor Di Giorgio discussed anti-money laundering (AML) compliance and licensing in the gaming industry with Matthew Agius Mamo, CEO at AML/CFT compliance Solutions by Diligex.
Irrespective of the industry, the view that compliance is burdensome is outdated. Agius Mamo says that “there has been a culture change – from something which is misunderstood, to something that is intrinsic and a core part of any business, including gaming.”
A trust builder
The gaming industry “has evolved drastically fast, starting from non-regulation to having a number of regulated markets to increasing regulation.” Regulation, adds Agius Mamo, needs to be viewed as a “trust builder” and once regulation is implemented in a way that benefits both the operators and the whole gaming ecosystem, the industry will continue to respond favourably.
The podcast host posits the possibility that current stringent regulations are deterring start-ups from setting up shop within EU jurisdictions, with the result that the market misses out on potential innovation. Agius Mamo replies that if regulation is in place for the purpose of establishing a favourable ecosystem, this, in turn, allows trust. This might be at the expense of losing out on operators who might be put off by the exigencies of stringent rules and regulations.
Bad apples in every industryAgius Mamo dispels the myth that the gaming industry attracts more illegal operators than other sectors. The host asks how regulators can control and protect the market and customers from rouge operators. A two-pronged approach is necessary where deterrence and enforcement are in place, says Agius Mamo. “The focus needs to be on building trust and an efficient system”, where operators can regulate their policies, and compliance becomes a “business tool”. Agius Mamo adds that it is important for regulation to include incentives that make it “attractive” for operators to be compliant. From a responsible gaming perspective, licences and AML setups become a way for operators to protect their players, and “trust becomes a currency.” He adds, “if we have a system that is managed well, that is sustainable and that makes sense for what it is set out to achieve, there will be enough deterrence.”
Agius Mamo welcomes regulation that is set in place where parameters and standards are clear and not overly ambitious. This allows operators to obtain licences where they trust that fraud is taken seriously, and the jurisdiction does not pose any risk to the business. At the end of the day, Agius Mamo says, this is an entertainment industry where customers should be able to enjoy themselves with the peace of mind of an ecosystem that protects its users. In comparison to other industries, the gaming industry poses other complexities when it comes to manage elements such as cross border or transnational payments, since customers may not be aware when signing up of the necessity to provide personal and banking details.
Maturity of the sectorDi Giorgio asks how regulation has evolved to encourage operators to maintain a balance between profit and compliance. Unlike other industries, the gaming sector is one where initially, operators were navigating an unregulated market. Over the years, the industry evolved to one that has several regulated jurisdictions. Agius Mamo says that the role of companies offering AML compliance solutions such as Diligex is “to understand, listen what are the business processes, what are the challenges being faced and what businesses want to achieve.”
Jurisdictions raising the bar“Essentially if you have a number of jurisdictions looking to raise the bar, then you are going to end up with a situation where you have B2Bs who are unwilling to collaborate with underground operators.” The risk to their reputation and exposure to commercial and legal risks will eventually lead to heavy client loss. Agius Mamo continues, “if that bar is then set, it must become difficult enough for those that are in the underground sector to access the benefits of being part of the regulated ecosystem. If you have industry players that are allowing this to happen, then that is defeating the scope and it sinks the whole effort.”
The future of the industryAgius Mamo predicts that any sort of EU level harmonisation is years away. In the immediate and short term, jurisdictions will “each have their own regulations and requirements ... in line with what they think is best for the jurisdiction.” He believes that eventually EU level initiatives, such as an AML Authority will be set up that will complement national jurisdictional powers.
Watch the podcast here.
Join the upcoming SiGMA event in CuracaoSiGMA Curacao is less than a week away. It will be held in from the 25 – 28 September. The event is hosted by the Ministry of Finance in association with SiGMA Curacao
Don’t miss this exclusive opportunity to be part of SiGMA Curacao, where you can gain valuable insights into the new gambling legislation, explore the thriving iGaming industry, and connect with key players in Curacao. Check out all the details here.
Register here to secure your place at this landmark event.
A security executive with knowledge of the situation revealed that the hackers who recently infiltrated the systems of prominent casino giants, MGM Resorts International and Caesars Entertainment, have also targeted three other companies operating in the manufacturing, retail, and technology sectors.
The wider scope of the cyberattack stringsDavid Bradbury, the Chief Security Officer of Okta, an identity management company, disclosed that since August, five of Okta's clients, including MGM and Caesars, have fallen victim to hacking groups known as ALPHV and Scattered Spider.
While Bradbury did not disclose the names of the other affected companies, he emphasised that Okta is actively cooperating with official investigations related to these security breaches.
These cyberattacks have once again drawn attention to ransomware attacks, which impact numerous companies each year, spanning industries from healthcare to telecommunications. As a result of these breaches, both MGM and Caesars witnessed a decline in their market value, and MGM continues to grapple with operational disruptions at its hotels and gaming establishments across locations, including Las Vegas and Macau.
Okta, headquartered in San Francisco and boasting a global clientele of over 17,000 customers, specialises in providing identity services, such as multi-factor authentication, to enhance the secure access of users to online applications and websites. The detection of multiple breaches among its clients prompted Okta to issue a warning last month, according to Bradbury, who emphasised the need to share insights with the broader industry due to the rapid occurrence of these incidents.
Details of the cyberattack - Caesars joins the list besides MGM Resorts
Recently, Caesars Entertainment, a prominent player in the casino industry, made headlines alongside its Las Vegas counterpart, MGM Resorts International, as they both disclosed being targeted in a cyberattack. In their official report submitted to the federal Securities and Exchange Commission, Caesars assured the public that, fortunately, the attack had not disrupted their casino and online operations.
However, there's a catch. Caesars, headquartered in Reno and publicly traded, expressed their inability to provide an ironclad guarantee regarding the safety of personal information belonging to tens of millions of their valued customers. This vulnerability emerged following a data breach on September 7th, raising concerns about the exposure of driver's licence and Social Security numbers belonging to members enrolled in their loyalty rewards program.
It's worth noting that, even as this cybersecurity incident unfolds, Caesars has been actively expanding its horizons. In May, they launched the temporary Danville Casino, a strategic move while they work on the construction of a grand $650 million resort in the Schoolfield area.
“We have taken steps to ensure that the stolen data is deleted by the unauthorised actor,” the company said, “although we cannot guarantee this result.”
“Unofficially, we saw a group called Scattered Spider claimed responsibility,” Callow said. “They appear to be native English speakers under the umbrella of a Russia-based operation called ALPHV or BlackCat.”
“Scattered Spider also is known as UNC3944,” said Charles Carmakal, Chief Technical Officer at cybersecurity firm Mandiant. He called the group “incredibly disruptive and aggressive” in recent targeting of hospitality and entertainment organisations.
“They leverage tradecraft that is challenging for many organisations with mature security programs to defend against,” Carmakal said in a statement.
Mandiant said in a blog analysis published Thursday the group uses SMS text phishing and phone calls to help desks to attempt to obtain password resets or multifactor bypass codes.
“This relatively new entrant in the ransomware industry has hit at least 100 organisations, most of them in the U.S. and Canada,” Mandiant said.
Caesars and MGM Resorts respond
Caesars, a global casino behemoth, proudly holds the title of the world's largest casino owner. Boasting over 65 million Caesars Rewards members and a vast presence spanning 18 states and Canada, they operate under well-known banners like Caesars, Harrah's, Horseshoe, and Eldorado. Their portfolio also extends to mobile and online gaming, along with sports betting. Notably, company representatives remained tight-lipped, declining to respond to inquiries sent by The Associated Press via email.
In response to the breach, Caesars took swift action. They informed the SEC that they were actively offering credit monitoring and identity theft protection to their loyal customers enrolled in their rewards program. Fortunately, there is no evidence to suggest that the intruder gained access to member passwords or sensitive financial information like bank accounts and payment card details. Caesars affirmed that both their casino and online operations remain unscathed by this incident, continuing without disruption.
Caesars' disclosure closely followed MGM Resorts International, the largest casino conglomerate in Las Vegas, publicly sharing its own encounter with a cyberattack. The company detected the breach on a Sunday, prompting them to swiftly shut down computer systems at their properties nationwide in a bid to safeguard sensitive data.
This proactive measure had repercussions felt by customers; Las Vegas casino floors and reservations were impacted, with social media abuzz about credit card transaction failures, inaccessible cash machines, and locked hotel room doors. Even video slot machines sat dormant.
MGM Resorts boasts approximately 40 million loyalty rewards members and oversees tens of thousands of hotel rooms across Las Vegas, including iconic establishments like the MGM Grand, Bellagio, Aria, and Mandalay Bay. Their reach extends beyond U.S. borders, with properties also operating in China and Macau.
Ongoing fallout
In a company report filed with the SEC on Tuesday, they referred to their Monday news release regarding the cyberattack. The FBI confirmed an ongoing investigation but provided no further details.
As of Thursday, several of MGM Resorts' computer systems remained offline, including those handling hotel reservations and payroll. Despite this setback, company spokesperson Brian Ahern assured that their workforce, comprising 75,000 employees in the U.S. and overseas, would receive their pay on schedule.
Speaking from British Columbia, Canada, Callow emphasised the speculative nature of most media reports regarding these incidents. He noted that the information seemed to originate from the same entities claiming responsibility for the attacks. Callow highlighted that recovering from cyberattacks could be a protracted process, spanning months.
Callow also drew attention to reports he deemed "plausible," suggesting that Caesars Entertainment might have been asked for a $30 million ransom to secure its data and possibly paid $15 million. Notably, he pointed out that the SEC report from Caesars did not detail the measures taken to ensure the safety of the stolen data.
The largest known ransom paid to cyber attackers to date stands at $40 million, involving insurance giant CNA Financial. This payment followed a data breach in March 2021.
“In these cases, organisations basically pay to get a ‘pinky-promise,’” he said. “There is no way to actually know that (hackers) do delete (stolen data) or that it won’t be used elsewhere.”
Get ready for SiGMA Curaçao!SiGMA Curaçao is right on the horizon, and in less than a week, it's all set to kick off. Mark your calendars for September 25th to 28th, as this exciting event is brought to you by the Ministry of Finance in collaboration with SiGMA Curaçao.
Don't miss out on this fantastic opportunity to become a part of something truly exceptional at SiGMA Curaçao. During this event, you'll have the chance to gain priceless insights into the latest developments in gambling regulations, immerse yourself in the dynamic world of iGaming, and forge connections with influential figures within Curacao's thriving industry.
The UK Gambling Commission yesterday penned an open letter to Racing Post readers, signed Andrew Rhodes, CEO. The Commission felt compelled to do so amid what it claims to be blatant publication of “imbalanced stories” by the digital newspaper on a daily basis. The letter was initially intended for the Racing Post readers page, to allow the Commission to clarify their position on the ongoing consultation and clear up any misunderstandings. The newspaper refused to publish the letter.
The letter, addressed to Racing Post readers, acknowledges that readers may have concerns about potential privacy issues regarding the Government and the Gambling Commission proposals in the ongoing consultation about proposed financial risk checks.
99.7% of customers not affectedThe first misconception the letter clarifies is the assumption, fuelled by “the volume and nature of the coverage” by the racing post, that under the current proposals a good proportion of gambling consumers would have to be handing over payslips or bank statements when they want to place a bet. The reality is, continues the letter, the estimation is that just 3 percent of accounts would undergo financial risk assessments. Additionally, the Commission estimates that at most just 0.3 percent of account holders would ever be asked to directly provide the additional financial information that operators are already requiring of some customers. “This means 99.7 percent of customers would not be asked to directly provide any information.”
The letter continues with an invitation to the readers to have a say in the process. The financial risk checks consultation offers Racing Post readers the opportunity to engage in policy development, and the Commission invites the readers to submit their views on how the 0.3 percent of account holders could have their financial risk assessed without being asked for additional information.
Under the proposed changes, approximately 90 percent of financial risk assessments would be conducted through credit reference agencies and open-source banking via a regulated third-party provider. The Commission stressed that the checks would not grant gambling companies access to customers' complete bank account data. Any information received by operators can only be used for evaluating risks of harm, not for identifying or restricting winners.
Proposals exclusive to online gamblingThe letter’s second clarification is that these proposals pertain exclusively to online gambling. They would not apply to betting in brick-and-mortar bookmakers or at the racetrack. While high street bookmakers may decide to conduct checks based on social responsibility or anti-money laundering concerns, the changes under consultation apply solely to online gambling.
Lastly, the letter specifies the common misconception that credit checks impact credit ratings and could harm credit scores. However, the open letter stressed that these soft credit checks will not affect credit scores, and data on a customer's gambling behaviour will not be shared with the financial sector under these proposals.
The letter concludes with a reminder that with only four weeks remaining in the consultation, the Commission welcomes all responses to ensure a balanced approach between safeguarding individual gambling freedom and protecting the most vulnerable from gambling-related harm.
Join the upcoming SiGMA event in CuraçaoSiGMA Curaçao is less than a week away. It will be held in from the 25 – 28 September. The event is hosted by the Ministry of Finance in association with SiGMA Curaçao
Don’t miss this exclusive opportunity to be part of SiGMA Curaçao, where you can gain valuable insights into the new gambling legislation, explore the thriving iGaming industry, and connect with key players in Curaçao. Check out all the details here.
Register here to secure your place at this landmark event.
Gaming Innovation Group (GiG) has officially announced the expected departure of Richard Brown from his position as CEO, effective from 18 September 2023. Mr. Brown will transition into a Board advisory member, lending his expertise and support until 31 December 2023. This transition marks an expected pivotal moment in GiG's strategic transformation.
GiG's path to enhanced growth
GiG, a major player in the gaming industry, initiated a comprehensive strategic review this year. The primary objective of this study was to split GiG into two separate entities. The move aims to maximize growth opportunities and provide each business with the strategic and financial autonomy required for its unique operational model. The result will be the creation of two industry-leading enterprises poised for accelerated growth.
Richard Carter, assuming the role of CEO for Platform & Sportsbook in August, has been entrusted with leading this business unit during this critical period of transition. Simultaneously, Jonas Warrer will continue his leadership as CEO of GiG Media. Petter Nylander, Chairman of the Board, will step into the role of Executive Chairman during the interim phase, overseeing the transition and strategic review process.
Richard Brown's non-operational support
Brown's departure from the CEO position signifies a strategic shift, allowing him to assume a supportive, non-operational role. His primary responsibility during this phase will be to facilitate the seamless handover to Richard Carter and provide continued support to the board of directors until the year's end. This transitional arrangement ensures that both new CEOs can lead their respective business units effectively, with the assurance of background support from Brown.
Commenting on these developments, Petter Nylander expressed the board's satisfaction with the progress made in splitting GiG into two distinct entities to gear the way forward for future expansion and enhance shareholder value. He acknowledged Richard Brown's instrumental role in this transformation and thanked him for his invaluable contributions to GiG over the years. Brown also shared his thoughts, highlighting GiG's strong strategic and operational position and his intention to support the company in a non-operational capacity until the close of the year.
The transition of leadership at GiG signifies a strategic repositioning aimed at propelling the company into a new era of growth and opportunity. The expertise and dedication of the departing CEO, Richard Brown, and the incoming leaders, Richard Carter and Jonas Warrer, promise an exciting future for GiG as it continues to evolve in the dynamic gaming industry.
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The University of Bristol has revealed that there was a mass of gambling messaging in the UK broadcast and online media during the much-anticipated opening weekend of the English Premier League.
The study conducted in collaboration with the British network, Channel 5, analysed live televised coverage, sports news programming, sports news radio, and social media from the 11th until the 14th of August, 2023.
Forming part of the Bristol Hub for Gambling Harms Research, the study is part of an effort to investigate the effects of gambling harm and focus on advocating for greater scrutiny along with improved regulation.
The key findingsThe study concluded that a staggering 10,999 gambling messages were identified and disseminated across numerous media channels during the weekend.
Out of these, 6,966 gambling messages were recorded during live match broadcasts and 92 percent of the content from these messages was deemed as in violation of advertising regulations.
Released by major gambling brands, these messages were in violation of regulations as they weren’t clearly identifiable as advertising or promotional material.
What's more, is that only 20.6 percent of these gambling messages included harm-reduction material, and only 18.7 percent featured age warnings indicating restriction.
Sports radio provider, TalksSport, was also named in the study for including at least one gambling advertisement in each and every commercial break.
Similarly, broadcaster Sky Sports News displayed 600 gambling messages for 2 hours on air.
Social Media activity was also recorded with 1,902 instances of gambling advertisements featured generating 34 million impressions during the weekend alone.
PervasiveThis study highlights in stark fashion, the highly pervasive nature of the gambling market during a premier league match, heavily penetrating the public consciousness across the nation.
More specifically this type of heavily visible media clearly has a strong influence at the highest level on the world’s most popular sport.
Researcher recommendationsIn lieu of this study’s findings, the researchers suggested several changes applicable to the function of the industry. The most significant is a call for stronger regulations to protect consumers and minors from dishonest advertising practices and excessive marketing campaigns.
Going into further detail the researchers also state that self-regulation by the gambling industry is clearly insufficient and places an onus on the government to take more action to protect its residents from such copious marketing techniques.
Current improvements seen as ineffectiveAlthough the recent Premier League decision to ban gambling companies from front-of-shirt sponsorship in 2026 is seen as a positive step by the research hub, more action is still required to protect minors from gambling promotion.
The researchers also levelled criticisms at the recently published gambling whitepaper for providing suggestions of a far too lenient nature with regard to strengthening regulations around marketing and sponsorships.
Get ready for SiGMA Curaçao!SiGMA Curaçao is right on the horizon, and in less than a week, it’s all set to kick off. Mark your calendars for September 25th to 28th, as this exciting event is brought to you by the Ministry of Finance in collaboration with SiGMA Curaçao.
Don’t miss out on this fantastic opportunity to become a part of something truly exceptional at SiGMA Curaçao. During this event, you’ll have the chance to gain priceless insights into the latest developments in gambling regulations, immerse yourself in the dynamic world of iGaming, and forge connections with influential figures within Curacao’s thriving industry.
MEGAPARTNERS, a direct advertiser and product-oriented IT company in the iGaming industry, has announced the launch of its new online casino brand — Betsomnia, targeting the GEOs of the Netherlands, Austria and Canada.
In terms of gaming, Betsomnia, operating under a Curaçao licence, offers the widest selection of over 8,000+ games. These include Slots, Live, Crash, Bonus Buy, Jackpot, Table Games, Video Poker, Roulette, and many others.
Betsomnia offers classic casino bonuses for players:
- Weekly cashback - up to 20%
- Weekend Spins + Wednesday Free Spins
- First deposit bonus - 100% up to 15000 EUR
- Welcome bonus - 100 FS & +100% up to 15000
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“We are excited to launch Betsomnia — a product created exclusively for players and based on their needs,” said Anton Petrov, CEO of MEGAPARTNERS. “In addition, the brand will soon introduce unconventional mechanics for additional earnings. We believe Betsomnia will become a top choice for online casino enthusiasts worldwide.”
MEGAPARTNERS is more than just an affiliate program. We are a product-oriented IT company with our own development department. It offers a range of tools and services to help online businesses grow and succeed. We are looking for traffic for our iGaming brands, and an ever-expanding audience increases ROI. All brands included in MEGAPARTNERS have legal permission to conduct online gambling based on Curaçao and MGA licenses.
Esports is set to make its debut at the Asian Games with medals and glory truly at stake in this year's edition of the multi-disciplinary contest.
Previously only observed as a demonstration sport at the 2018 Asian Games, Esports will now bring internationally recognised competition in several different gaming categories.
Esports contests at the Asian GamesThe Asian Games 2023 will feature EA Sports FC, PUBG Mobile, Arena of Valor, Dota 2, League of Legends, Dream Three Kingdoms 2, and Street Fighter V among others as medal categories.
The playersIt hasn’t been an easy road to competitive legitimacy for the Esports industry and similarly, the path has been equally as muddied for those competing.
Mayank Prajapati, India’s medal hope for the Street Fighter tournament, has expressed just how great an achievement this is for esports recalling how his father would be sensationally disapproving of his passion in his younger years.
Now a 3D designer, the now 33-year-old Prajapati explained how he had fallen in love with the Street Fighter game in the late 1990s saying:
“I got addicted and often lied to my parents, saying ‘I am going for tuition’, but spent hours playing.”
He continued in a somewhat light-hearted manner:
“I got a lot of scolding… I think I got beaten up.”
The favouritesPrajapati’s story is quite a familiar one with Kim Gwan-woo, the South Korean representative for the same competition stating:
“My parents absolutely hated me playing video games.”
He would continue to explain how his parents are still not in approval of this choice, however, he did provide some hope for these prospects saying:
“I think they will be very happy if I actually win a medal.”
South Korea and hosts China are expected to have the majority of contest joy this time out as dominant favourites for gold.
The road to recognitionThis Asian Games inclusion is most certainly a massive step in the journey of Esports. Being recognised as a legitimate sport has been a long-term goal for the industry with aspirations of going a step further to competition at the Olympics.
Other landmark achievements also include International Olympic Committee recognition as far back as 2017. Despite being desperate to attract younger audiences, the Olympic goal, however, is not as close as one may perceive.
The major roadblock to this inclusion remains the promotion of violence, an aspect that is deemed against Olympic values, categorically ruling out many titles being included at the Asian Games.
Get ready for SiGMA Curaçao!SiGMA Curaçao is right on the horizon, and in less than a week, it’s all set to kick off. Mark your calendars for September 25th to 28th, as this exciting event is brought to you by the Ministry of Finance in collaboration with SiGMA Curaçao.
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Australian gambling operator Tabcorp and eight Melbourne venues have been accused of failing to prevent a 16-year-old from gambling at their venues in nearly 30 instances over the course of 2022.
Venues chargedCharged venues include the Doncaster Hotel, Albion Charles Hotel, Rose Shamrock & Thistle Hotel, Preston’s Olympic Hotel, The Brunswick Club, Edwardes Lake Hotel, The Parkview Hotel, and the Northcote TAB Agency.
Tabcorp themselves are the biggest perpetrators as the Australian giant now faces 54 charges including allowing a minor to gamble on 27 counts as well as failing to adequately supervise electronic betting terminals at all times.
These terminals are understood to be located in the sports betting sections of the venues in question. Investigations began when a public complaint was registered last May.
Another operator that has been implicated in the allegations is Endeavour Group who gave this statement concerning the matter:
“Endeavour Group acknowledges the charges brought by the VGCCC against Endeavour Group’s Australian Leisure and Hospitality Group Pty Limited (ALH) who both take responsibility and compliance obligations very seriously and will continue to work constructively with the VGCCC.”
Potential penalisationsAccording to the Victorian Gambling and Casino Control Commission (VGCCC), if found guilty, the venues would be fined collectively in amounts exceeding $1 million while Tabcorp’s charges alone could warrant a $700,000 fine.
On the matter, VGCCC’s CEO, Annette Kimmitt had this to say:
“All gambling venues must ensure they do not accept a bet from a minor and must ask for identification from anyone they suspect could be underage.”
The allegations come in lieu of a wave of regulatory response to gambling activities that cause harm such as underage gambling and gambling addiction. Australia is currently undergoing a raft of regulatory changes to curb these issues related to gambling harm.
Get ready for SiGMA Curaçao!SiGMA Curaçao is right on the horizon, and in less than a week, it’s all set to kick off. Mark your calendars for September 25th to 28th, as this exciting event is brought to you by the Ministry of Finance in collaboration with SiGMA Curaçao.
Don’t miss out on this fantastic opportunity to become a part of something truly exceptional at SiGMA Curaçao. During this event, you’ll have the chance to gain priceless insights into the latest developments in gambling regulations, immerse yourself in the dynamic world of iGaming, and forge connections with influential figures within Curacao’s thriving industry.