PEZA Director General to deliver keynote during SiGMA Asia opening ceremony

The Spanish media is shedding light on the intricate situation involving the and its alleged connections to Gibraltar’s former Finance and Gaming Minister, Albert Isola CBE. This revelation has sparked considerable debate within Gibraltar’s business sector and has led to intense scrutiny of the jurisdiction’s regulatory practices and corporate governance standards.

Between 2011 and 2021, a time rife with misconduct allegations, the Mansion Group was linked to Albert Isola CBE. The group’s legal matters in Gibraltar, including litigation against its former , were handled by Isolas, a law firm co-managed by Albert Isola and his brother Peter Isola.

In 2020, the UK Gambling Commission launched an investigation into the Mansion Group, which culminated in AFC Bournemouth ending its sponsorship agreement with the group. The probe examined a range of the company’s operations. By September 2023, Mansion had systematically shut down its main business lines, effectively ending its suite of casino brands.

The actions taken by the Gibraltar Gambling Commission—or what is being seen as "the lack of"—in response to these events have come under scrutiny. Unlike the UK Gambling Commission, which actively investigated the Mansion Group, the Gibraltar regulator does not appear to have taken similar steps, even in the face of comparable allegations. This contrast in regulatory action raises questions about the consistency and efficacy of the jurisdiction's gambling regulation.

Mansion Group, an online gaming conglomerate known for its high-profile sponsorships of Premier League football clubs is embroiled in a legal battle. Former CEO Karel Manesco, 43, has accused Mansion Group of conducting unauthorized online gambling operations across multiple jurisdictions. The case, currently unfolding in the pits the remnants of Mansion against Karel Manasco, the firm’s former CEO. Manasco’s allegations paint a picture of a now-inoperative iGaming giant deeply engaged in the contentious practice often referred to as ‘grey area gaming’—a term that suggests operating on the fringes of legality.

Manesco has made further claims that Mansion Group’s activities involved undisclosed earnings in Europe, which the company has denied. The list of purported illegal activities is extensive, including operating without valid licenses, bypassing regulatory standards, evading taxes, and conducting online gambling in nations where it is forbidden. Additionally, it is alleged that in 2011, Mansion Group established untraceable shell companies in Curacao, some of which were linked to the notorious Mossack Fonseca law firm, infamously associated with the Panama Papers scandal.

In this landmark case, the Gibraltar Supreme Court is reviewing a request from two companies within the Mansion Group for a £5 million global asset freeze against former CEO Karel Manesco.

Manesco's professional journey with Mansion began in 2010, leading to his appointment as CFO two years later. By the end of 2016, he had ascended to the position of CEO after the previous executive stepped down. The case also involves KM Accountants, a firm allegedly owned and directed solely by Manesco, which has been part of the legal proceedings. The backdrop of this case paints a picture of intertwined corporate and personal interests, with significant implications for the integrity of business practices in the gaming industry.

Manesco contends that the accusations against him by the company emerged only after he initiated whistleblowing efforts against Mansion House’s alleged corrupt activities. The claims surfaced when Manasco, a native of Gibraltar, was openly charged with receiving substantial bonuses and extravagantly spending the company’s funds on luxury vehicles and premium watches. Manasco maintains that these allegations are baseless fabrications. He asserts that Mansion’s actions are a vindictive attempt to discredit and ruin him in retaliation for exposing the company’s questionable business conduct.

In 2023, Mansion succeeded in securing a worldwide freezing order (WFO) against Manasco, amounting to €5 million.

Manasco’s claims regarding Mansion are still awaiting formal inquiry by the Gibraltar Gambling Commission. Commissioner Andrew Lyman, upon receiving these claims in July 2023, communicated to Manasco’s legal representative that the allegations, as presented, did not warrant an immediate investigation.

This inaction has led to dissatisfaction among certain quarters, particularly when contrasted with the decisive actions of regulatory bodies in the UK and France. The situation could potentially prompt deeper scrutiny into how Gibraltar regulates its substantial online gaming industry, which is reported to contribute to 28 percent of the jurisdiction’s GDP.

Registered in Gibraltar since 2004, the Mansion Group operated out of the Europort building, a property owned by Isolas, which gained notoriety after its acquisition from Rifaat al-Assad in 2018. This purchase, approved by Chief Justice Anthony Dudley—who is also presiding over the Mansion-Manasco case—raised eyebrows due to Rifaat’s controversial background.

Fiduciary, a sister company to Isolas, played a pivotal role in managing the Mansion Group’s opaque ownership structure. Peter Isola, who was also on the board of gaming giant Entain, served as Fiduciary’s chairman.

, faced shareholder backlash over executive compensation, leading to Peter Isola’s resignation from its remuneration committee. Despite this, Fiduciary’s executive Joey Imossi, when approached for comment, directed inquiries to the Supreme Court of Gibraltar’s published judgments, citing an inability to discuss the case.

reported that Joey Imossi, who is also Consul for Greece in Gibraltar, refuted any conflict of interest regarding Albert Isola’s dual role as Finance and Gaming Minister and senior partner at Isolas, noting that Albert was on sabbatical during his ministerial tenure. He emphasized that Fiduciary’s services to Mansion were provided at arm’s length, in line with standard corporate service practices.

In 2023, Entain faced criminal charges in the UK related to historical bribery allegations at its Turkish subsidiary. The company agreed to a substantial fine of £615 million, yet the Gibraltar Gambling Commissioner did not pursue an investigation, despite Entain holding a Gibraltar gaming licence.

Casino Midas is said to have been established by Mansion in 2011 to cater to the French market, following France’s ban on offshore online casinos. As regulations became increasingly stringent worldwide, the online gaming industry faced heightened scrutiny.

The former CEO of Mansion has made allegations that the company engaged in illegal profit-making activities across numerous countries. According to these claims, Mansion covertly continued these operations until 2015. That year, Casino Midas was abruptly closed after being blacklisted by French authorities, who also signalled a potential investigation into the company’s practices

The Mansion Group, first emerged as the European branch of the Asian M88 brand, managed well-known online platforms such as Casino.com, Mansion Casino, and Slots Heaven from its Gibraltar headquarters. Presumed to be under the ownership of Indonesian tycoon Putera Sampoerna and Kathleen Chow Liem, the group has also previously attracted media attention for less than favourable reasons.

Stop Press: Find out more about  to be held in Budapest.

In a keynote address during the recently held SiGMA Asia Summit in the Philippines, Keith Marshall, Chief Philanthropy Officer and co-founder of the , delivered an impassioned plea to move from privilege to purpose. Marshall shared his story as a pharmacist, with his critical moment being when he finally realised that life's greatest injustice is ignorance and poverty while in Ethiopia.

In his speech, Marshall emphasised the power of individual action to create meaningful change.  He narrated his first encounter with the cruel living conditions of Ethiopian kids, which made him re-think his life direction. "I was blown away by the injustices and the crazy conditions that these kids were living within," Marshall said, adding, "I was stuck at a crossroads. I could either wash away the situation and say, listen, it's a problem, but it's not my problem. Or else I could say, listen, I'm not going to change the world, but I can be involved in change."

Choosing the latter, Marshall shifted his focus, integrating philanthropy into his life without abandoning his other pursuits. He said, "You can comfortably juggle in life." This balance helped him to continue running his pharmaceutical company, but at the same time, he had the time and resources to help the underprivileged of Ethiopia. From the work of the SiGMA Foundation, the idea has ballooned from helping children in Ethiopia to more than 100,000 children in seven countries on four continents.

Marshall noted everyone's purpose for being alive, urging everyone to ensure that no matter how small it is, there is always something they can do to. "Everyone can do something for someone," he went on to say, stressing that everybody matters in the end. Marshall also elaborated on the coexistence of the two different dimensions of life by sharing the professional and personal commitments which cannot stay apart from philanthropic works. "It's how much time you want to dedicate to kindred spirit—that is, to philanthropy. It could be stretching a metre, a mile, dedicating a week, dedicating a month, or dedicating an hour a day. But it all counts," he said.

He concluded by calling for action, as Marshall noted that there is much need for support; 380 million children all over the globe are suffering, and all these are because of failing social systems. He asked everyone in the room to take up the possibility of making a difference and to be the change agent within their community for that change. Marshall invited the audience at the summit to "make it count" by using their privileged positions for good. Recent SiGMA Foundation projects, such as the last week of a Music hall in Bataan have set an example for others to convert their privilege into purpose in practice.

Looking ahead, the gaming industry will shift its focus to Eastern Europe this September with the in Budapest. This event is expected to attract industry professionals from across the region, providing a platform for networking, business development, and exploring the latest trends in the gaming sector.

The Melbourne Magistrates’ Court has imposed a fine of AUD370,417 (€227,769) on after the company pleaded guilty to 43 charges related to underage gambling and inadequate supervision of its Electronic Betting Terminals. The charges were brought by the Victorian Gambling and Casino Control Commission (VGCCC) following an investigation into incidents involving a 17-year-old gambling at multiple venues across Victoria. 

In May 2023, the VGCCC charged after it was discovered that a minor had gambled on numerous occasions between May 2022 and October 2023. The venues involved included Albion Charles Hotel, Brunswick Club, Coburg TAB Agency, Cramers Hotel, Doncaster Hotel, Duke of Edinburgh Hotel, Edwardes Lake Hotel, Excelsior Hotel, Northcote TAB Agency, Olympic Hotel, Parkview Hotel, Preston Hotel, and Rose Shamrock & Thistle Hotel. 

Annette Kimmitt AM, CEO of the VGCCC, emphasised the gravity of Tabcorp’s breaches. “The breaches committed by Tabcorp are incredibly serious, reflecting a fundamental failure to protect minors from the risks associated with gambling, as well as a lack of vigilance on their part,” she stated. Kimmitt underscored the importance of gambling providers and their staff in preventing underage gambling. 

“These failures undermine the integrity and safety of the industry. Gambling providers and their staff are on the frontline of our efforts to prevent underage gambling,” Kimmitt continued. “It is their duty to rigorously check IDs and supervise gambling activities to ensure minors are not able to access these services. Their vigilance is crucial in safeguarding young people from the harms of gambling.” 

Kimmitt stressed the VGCCC’s commitment to protecting the community and ensuring the gambling industry adheres to the highest standards of conduct. “It is imperative that all stakeholders in the gambling industry understand the gravity of this issue and take their responsibilities seriously to prevent such harm,” she said.  

“The VGCCC is committed to protecting the community and ensuring that all gambling operations adhere to the highest standards of conduct. We will continue to take decisive action in upholding the safety and wellbeing of our community, particularly when it comes to children,” she said. 

The hefty fine serves as a stern reminder to gambling providers about their critical role in preventing underage gambling and maintaining the industry's integrity. 

Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming  Summit happening in Budapest from 2 – 4 September.

Australians are now prohibited from using credit cards and digital currencies for online betting, a move by the government aimed at preventing individuals from gambling with money they do not possess. The new restrictions encompass credit cards linked to digital wallets, cryptocurrencies such as Bitcoin, and other emerging forms of credit. This regulation aligns rules with those for land-based gambling, although online lotteries remain unaffected and still permit credit card payments. 

Responsible Wagering Australia’s chief executive, Kai Cantwell, has advocated for the ban to extend to these exempt forms of gambling. “This is an important measure to protect customers, making it easier for people to stay in control of their own gambling behaviour,” Cantwell stated. He emphasised that inconsistent consumer protection measures across various gambling forms could drive vulnerable Australians to less-regulated types, increasing their risk of harm. 

The industry has been granted a six-month transition period to comply with the new rules, which took full effect on Tuesday. Companies failing to adhere to the ban may face fines of up to AUD234,750 (€144,441). To ensure compliance, the communications watchdog has been granted expanded enforcement powers. 

The federal government is also considering a gradual phase-out of gambling advertisements over three years, a recommendation from a parliamentary inquiry on problem gambling. Communications Minister Michelle Rowland affirmed the government's commitment to further preventive measures, stating, “Australians should not be gambling with money they do not have. This ban builds on the significant progress to minimise gambling harm that the Albanese Government has made over the past two years, which is already benefiting thousands of vulnerable Australians.” 

Recent reforms include a betting self-exclusion register, which has already seen participation from 22,000 individuals. Additionally, starting in September, computer games featuring gambling-like content will be classified as R18+, while those with in-game purchases will be rated M. These measures are part of a broader initiative to curb gambling-related harm and reshape the cultural perception of . 

Despite the sweeping changes, online lotteries are currently exempt from the credit card ban, a loophole that some argue needs to be addressed to ensure comprehensive consumer protection. As highlighted by The Canberra Times and Crypto News Australia, this regulatory gap might incentivise gamblers to shift to online lotteries, undermining the overall intent of the reforms. 

Upcoming SiGMA event: SiGMA East Europe 2024, 2 – 4 September. Find all the details .