SiGMA Asia 2024 gets PAGCOR seal of approval

Netflix and Most Valuable Promotions (MVP) have joined forces to present a monumental heavyweight boxing extravaganza featuring Jake “El Gallo de Dorado” Paul (9-1, 6 KO), known as the Problem Child, facing off against the legendary Mike Tyson (50-6, 44 KOs), famously dubbed the Baddest Man on the Planet. This epic showdown between Jake Paul and Mike Tyson, who has not been in a sanctioned fight since 2005, will be broadcast live on Netflix on July 20, directly from the iconic AT&T Stadium located in Arlington, Texas, the renowned home of the NFL's Dallas Cowboys. The match has received the official sanction from the Texas Department of Licensing and Regulation (TDLR). This crucial decision ensures that the fight will maintain integrity through the oversight of independent judges and rigorous testing protocols for both competitors before they step into the ring.

Securing approval from the TDLR is highly significant for the fight, allowing bookmakers and sportsbooks to offer bets on the outcome through regulated U.S. sportsbooks. The involvement of a reputable regulatory body like TDLR eliminates concerns about the fight's legitimacy and ensures a fair and unbiased competition.

Nakisa Bidarian, co-founder of Most Valuable Promotions, expressed gratitude for the collaboration with TDLR to meet the necessary requirements for sanctioning the Paul vs. Tyson bout. The fight will adhere to strict guidelines, with the boxers committing to using 14-ounce gloves and competing in eight rounds, each lasting two minutes instead of the usual three minutes, ensuring a decisive outcome even without a knockout.

Despite concerns about Tyson's age—he will be 58 years old at the time of the fight—and his long hiatus from professionally sanctioned matches, the regulatory oversight provided by Texas authorities aims to instill confidence in the event's fairness and competitiveness. With the support of the TDLR, fans and can look forward to a regulated and thrilling showdown between two vastly different but compelling boxing personalities.

Next SiGMA Event: Join us in Manila from the 2 – 5 June for SiGMA Asia. Find all the details .

's Minister of Justice, Javier Silvania, has addressed concerns voiced by the Curaçao Bar Association regarding the National Ordinance on Gambling (LOK). Following objections to certain provisions within the draft legislation, particularly concerning accreditation requirements for lawyers, Silvania announced amendments to the law. 

In a social media post, Silvania acknowledged the Bar Association's concerns and revealed plans to revise the accreditation requirements outlined in the LOK. Notably, the jurisdiction will shift from a mandatory accreditation process to a non-mandatory certificate system, significantly reducing regulatory burdens for legal practitioners. 

Under the amended law, the Curaçao Gaming Authority will issue certificates to lawyers providing gambling-related services or goods to Curaçao licence holders. These certificates, valid for up to three years, will replace the initial accreditation requirements outlined in the draft legislation. Silvania emphasized that participation in the certification process would be optional, granting flexibility to lawyers engaged in gambling-related activities. 

Silvania also highlighted another significant amendment aimed at ensuring the financial independence of the Curaçao Gaming Authority. Addressing concerns regarding the regulator's autonomy, revisions have been made to guarantee its fiscal independence, enhancing transparency and accountability within the regulatory framework. 

In addition to addressing the Bar Association's concerns, Silvania responded to criticisms from members of Parliament regarding the LOK. He emphasized that despite some MPs' limited review of the legislation, the amended law represents a significant milestone in the region's efforts to reform its offshore gambling industry. 

Silvania underscored that the legislative revisions align with 's commitment to collaborate with the Dutch government's Temporary Work Organisation (TWO). The changes signal a willingness among lawmakers to consider stakeholder input and ensure effective regulation in the gambling sector, essential for preserving Curaçao's status as an international gambling hub. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .

In April this year, the voluntary EU incorporated a vow to refrain from generating, utilising or spreading "any form of deceptive content". As part of an EU charter on fair campaigning, European political parties consented to refrain from disseminating unmarked deepfakes ahead of the June election. A comparable law has been enacted in the UK this month. Under the Online Safety Act, passed the previous year, the distribution of deepfakes was declared unlawful. On March 13 of this year the AI Act was passed which aims to make sure that AI systems in the EU respect fundamental rights. Its objectives are to create innovation and investment in AI in a single EU market.

The rapid advancement of AI technologies is bringing about remarkable opportunities and hurdles for the gaming industry. Professionals at government agencies, think tanks, gaming events and conferences are extensively exploring and discussing the key problems. The industry is questioning if AI has overstepped its boundaries. When does virtual reality become overwhelming? Is there a potential threat to people? Are casinos at a higher risk of security attacks and how can they safeguard their data and AI versions? What regulations need to be established to ensure the safety of both casinos and individuals?

Experts in the gaming industry say that explicit regulation by authorities is necessary to ensure the ethical use of AI in the casino business. They believe that governmental and regulatory entities should create unambiguous, enforceable rules and structures that define proper procedures for AI implementation, tackling aspects such as data security, responsibility, and algorithmic clarity. The regulations introduced this month and those still being released should be versatile enough to adjust to the rapid speed of tech evolution, as obsolete laws can occasionally create more difficulties than benefits.

Doctor Ian Gauci, a partner at GTG specialising in AI law said to SiGMA News, "In Europe now casinos should make sure that if they already make use of AI that it complies with the requirements of existing law’s like GDPR as that is further emphasised in the new AI ACT. They also need to predispose themselves for the up and coming new AI act, so that they can act immediately around any banned AI. The casinos here would also have to distinguish between them solely deploying the AI, as opposed to developing and deploying it.”

The consensus among professionals such as Gauci is that international collaboration on AI-related laws will be essential to maintain uniform standards, considering the worldwide scope of the technology and the gaming industry.

Gauci added, “The extra part is that in addition to these new AI laws, the casinos will also need to examine their obligations on what is prohibited, and where there is high risk (AI act). They will also have to have a conformity assessment of a lot of things, such as data, design, cyber security, and other audits which are also important. It’s beyond ethics or human rights as you are regulating the operational parameters of the technology and imposing risk and governance frameworks on importers and distributors. It is dealing with big risk AI and interfacing with another authority which is the market surveillance authority in the EU.”

Industry experts concur that as casinos advance towards the integration of ethical AI, it involves not just compliance with rules; it's also about both the gaming industry and the users experience while complying with ever changing regulation.

The Prosecutor General's Office in Ukraine, in collaboration with law enforcement agencies, has intensified efforts to combat illegal gambling activities on a significant scale. A total of more than 450 criminal offenses related to illegal gambling have been under investigation as of April 2024. This moves follows the decision by the Ukrainian Parliament’s to dissolve KRAIL, Ukraine’s gambling regulator and the signing of a decree aimed at counteracting the .

During these investigations, 21 individuals were notified of suspicion, with indictments sent to court against 72 people. Notably, seven indictments were issued against 68 members of criminal groups, marking a crucial step in prosecuting those involved in unlawful gambling practices.

In the previous year, 169 offenses were recorded with 74 individuals notified of suspicion. This led to 52 indictments against 97 people being sent to court. Law enforcement authorities conducted more than 500 searches, 700 address inspections, and seized over 7,000 units of computer equipment, emphasizing the depth of their crackdown on illegal gambling.

In over 2,500 websites that provided gambling services without the necessary licenses have been blocked. President Volodymyr Zelensky's endorsement of the National Security and Defense Council's decision to address the negative impacts of online gambling underscores the government's determination to tackle this issue effectively. With ongoing investigations into large companies involved in illegal online gambling, including cases of fund laundering worth over 110 million euros, the crackdown on illegal gambling continues to unfold.

Next SiGMA Event: Join us in Manila from the 2 - 5 June for SiGMA Asia. Find all the details .

Asia’s gaming pulse beats strong in Manila. This June SiGMA is gathering the best in business: from top government officials and seasoned c-levels to big name influencers – SiGMA Asia is leading the charge for change. Join us for an experience that promises to blow all other events out of the water.