Latest News
The Lithuanian Gaming Control Authority (LPT) has completed its inspection: Olympic Casino has been fined almost 8.4 million euros
The company Olympic Casino Group Baltija (OCGB) did not take sufficient steps to identify the origin of Šarūnas Stepukonis’ losing funds, and the monitoring of his financial transactions was only formal and ineffective. Such violations were identified by the Gaming Supervisory Authority, which conducted an inspection of OCGB’s activities in Lithuania. The company was fined almost 8.4 million euros.
The Gaming Supervisory Authority (LPT) investigated the actions taken by OCGB in response to Š. Stepukonis’ transactions on the company’s gaming website from December 2016 to the end of June 2021. The law obliges gaming operators to ensure that customer funds are not obtained from criminal activities or through participation in such activities. It is also mandatory to verify the origin of the funds. LPT found that the measures applied by OCGB were poor and insufficient, and the monitoring of Š. Stepukonis’ transactions was formal.
Gambling organizers must report suspicious transactions to the FNTT. Š. Stepukonis’ transactions had obvious signs that should have raised suspicions for the gambling organizer. However, the FNTT was not informed about this.
During the inspection, evidence was also collected that Š. Stepukonis’ gambling was irresponsible. The gambling company should have noticed this, especially since the client was assigned a personal manager who saw all of his transactions.
“Instead of finding out whether Š. Stepukonis had a gambling problem or informing the supervisory authority, Olympic Casino encouraged him to gamble even more. An individual incentive package was prepared for him. A total of 1.3 million euros was allocated for this. This “bonus” could only be spent on gambling. Other incentives were also allocated,” – comments on the results of the inspection by LPT Director Virginijus Daukšys.
Since mid-2021, gambling companies in Lithuania have no longer been allowed to offer incentives to their customers that they would later lose. Just before this tightening came into effect, Š. Stepukonis’ virtual gambling was moved from Lithuania to Estonia, where it was still allowed to encourage gamblers.
In this way, it was possible not only to maintain incentives for gambling, but also to avoid supervision by the LPT. If an ordinary gambler from Lithuania tried to go and register on the Estonian Olympic Casino website, he would be redirected to the Lithuanian website. However, in the case of Š. Stepukonis, the redirection was not carried out. These circumstances are part of the pre-trial investigation.
During the inspection, a total of five violations of the provisions of the Law on the Prevention of Money Laundering and Financing of Terrorism and the Law on Gambling were identified.
The law allows for a fine of up to twice the amount of damage caused. The damage was determined to be 6.4 million euros – the amount Š. Stepukonis lost at the Olympic Casino in Lithuania. When calculating the fine, an aggravating circumstance was taken into account – the company did not cooperate during the inspection.
According to V. Daukšys, after this story came to light, steps were taken to prevent similar cases from recurring. The most important change is the law, proposed by the LPT, which obliges gambling companies to take action upon noticing irresponsible gambling and to provide information about it to the LPT.
“Until now, there was no such obligation. Therefore, the LPT did not have information that would allow it to take preventive actions in advance,” says V. Daukšys.
The new Gambling Law will come into force in November this year. Its aim is to reduce the accessibility, attractiveness and potential harm to personal health of gambling.
LPT also reviewed its procedures, adjusted internal procedures, allowing for more frequent scheduled inspections of the activities of gambling companies. In addition, the Ministry of Finance conducted an audit of LPT’s activities. No significant operational deficiencies were identified during the audit. LPT took into account the audit recommendations and allocated more human resources to money laundering prevention functions.
Source: Gambling Supervisory Authority under the Ministry of Finance of the Republic of Lithuania
The post The Lithuanian Gaming Control Authority (LPT) has completed its inspection: Olympic Casino has been fined almost 8.4 million euros appeared first on European Gaming Industry News.

Latest News
INCENTIVE GAMES SIGNS DISTRIBUTION DEAL WITH ARISTOCRAT INTERACTIVE™
Incentive Games, a leading B2B games provider specialising in acquisition and retention, has announced that it is collaborating with Aristocrat Interactive™, Aristocrat’s online Real Money Gaming (RMG) division.
Under the terms of the agreement, Incentive Games will distribute its suite of high-quality Free-to-Play and Real Money Gaming content through the Aristocrat Interactive network. Its expert team will tailor the games to align seamlessly with the platform, ensuring it resonates with the Aristocrat Interactive’s valued operators and their players.
This agreement unites two industry leaders in iGaming, combining their strengths to deliver exceptional player experiences and elevate customer engagement.
John Gordon, CEO of Incentive Games, commented: “We are thrilled to work with Aristocrat Interactive, a renowned industry leader and exceptional aggregator that we know will showcase our games with the care and attention they deserve. The agreement marks a landmark moment for our company, opening the door to new markets and enabling us to bring our best-in-class products to new audiences worldwide.”
Ashley Bloor, Director of Partnerships at Aristocrat Interactive Content & Aggregation, said, “We are delighted to offer Incentive Games content through our aggregation platform, further enhancing our ability to provide diverse and dynamic experiences for our customers. This is an exciting opportunity to expand our portfolio, and we look forward to working closely with Incentive Games to create exceptional, tailored experiences that help us deliver premium gaming experiences to our global audience.”
The post INCENTIVE GAMES SIGNS DISTRIBUTION DEAL WITH ARISTOCRAT INTERACTIVE™ appeared first on European Gaming Industry News.
Latest News
Boomerang make statement appointment with Justin Browning-Smith joining as Product Director from Aspers Casino
Boomerang Digital, the technology-driven entertainment solutions provider built by Andrew Ludlow and Air Dice has announced the appointment of Justin Browning-Smith to the newly created post of Product Director.
Justin, whose industry career started as a Gaming Machine Manager with Scottish and Newcastle in 1994 joins from Aspers Casino where he was Director of Electronic Gaming.
Reporting to Chief Operating Officer Chris Wrigley Justin will take responsibility for Boomerangs growing suite of products, services and innovations ensuring the expanded portfolio is completely aligned and represents best-in-class delivery and value to our customers.
Confirming the news which he described as an ‘appointment of intent’ Boomerang Group Chief Executive Andrew Ludlow said: “I am personally and professionally delighted to be able to announce what is a Tier 1 appointment to a role which will be pivotal to the growth of Boomerang and to our drive to consistently exceed the expectations of our growing customer base across every sector we now supply.
“This is a dynamic new role and Justin’s track record of delivering high profile, industry leading projects including Gala Touchpads for Gala Bingo, Virtual Racing streaming channels and the shop of the future to Ladbrokes and Coral as well as the Aspers’ betting office confirms the calibre of industry talent that we are attracting.”
“Boomerang is about deploying best in class technologies in order to meet the specific operational requirements of our customers and Justin is ideally qualified to help us achieve this. With the exception of a period at PwC, his entire career has been in land based gaming working across the pub, betting, bingo, adult gaming centre and casino sectors.
Justin Browning-Smith added: “Over the past 15-years my focus has been on product development and I am seriously looking forward to continuing that core delivery with Boomerang, a company that is built on enterprise and which has innovation running through its veins.
“The Boomerang culture is underpinned by a real energy and enthusiasm and I am relishing the opportunity to work alongside a highly talented team and of course contributing to Boomerang’s compelling future vision and success story.”
The post Boomerang make statement appointment with Justin Browning-Smith joining as Product Director from Aspers Casino appeared first on European Gaming Industry News.
Latest News
Plaza Hotel & Casino hosting Nike Pickleball Camp, March 14-16 Registration deadline extended to March 13 but only a few spots remain
Offering 16 rooftop pickleball courts, the most of any Las Vegas resort, the Plaza Hotel & Casino in downtown Las Vegas will host a three-day Nike Pickleball Camp led by nationally-ranked professional pickleball player Rick Witsken, this weekend Friday, March 14 through Sunday, March 16, from 1 to 4 p.m. each day.
Open to players 18 years or older and at any skill level (beginner, intermediate, or advanced), the weekend camp gives participants the option to attend one, two, or three days of pickleball lessons and play that are designed to address specific needs, increase knowledge of the game, and help improve play in a fun and friendly environment.
The Nike Pickleball Camp will be led by Rick Witsken, a top ranked senior pro and co-founder of the National Pickleball League (NPL). Previously world-ranked on the Association of Tennis Professionals (ATP) in both singles and doubles play and currently ranked #1 on the Association of Pickleball Players (APP) Senior Pro Men’s standings, Witsken has won more than 100 senior and open pro medals and has served as director of over 50 camps. He currently hosts the “RipSken Pickleball” podcast and posts instructional videos online via the Midwest Pickleball club. He also founded the first public scholastic middle school pickleball team at Zionsville Middle School in Whitestown, Indiana.
The first day of the camp will focus on short and soft game skills, like dinks and drops. The second day highlights aggressive game skills, including drives, serves, returns, speed ups. The final day will culminate with strategy and positioning lessons.
All camp participants will receive a Nike Pickleball Camp t-shirt and prizes with their registration. They must bring their own athletic shoes and water bottle, and if they do not have their own paddle, one will be provided free of charge.
Upon arrival, all participants are evaluated by camp staff so that their personal instructional needs can be addressed throughout the weekend. Participants are grouped by ability first then by age per the camp director’s discretion, and adjustments are made as needed during camp.
Interested players can register for one, two or all three days of the camp online at plazahotelcasino.com/pickleball/. The deadline for registering has been extended to Thursday, March 13 but only a few spots remain.
The Plaza Hotel & Casino will also offer exclusive hotel room packages for participants that can be booked online. Depending on demand, additional Nike Pickleball Camps at the Plaza may be scheduled in the future.
The post Plaza Hotel & Casino hosting Nike Pickleball Camp, March 14-16 Registration deadline extended to March 13 but only a few spots remain appeared first on European Gaming Industry News.
-
Latest News3 months ago
GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
-
Latest News3 months ago
Abios powers upcoming gaming media platform Apollo with in-play statistics for League of Legends
-
Latest News3 months ago
Government support, medals, and global recognition define a landmark year for Indian esports and video gaming in 2024
-
Latest News3 months ago
Kambi Group plc repurchase of shares during 18 December – 23 December 2024
-
Latest News3 months ago
India Levels Up: Emerging as a Global Gaming Powerhouse in 2024
-
Latest News2 months ago
Imagine Live Partners with King.rs
-
Latest News3 months ago
Gambling.com Group Enters into Definitive Agreement to Acquire Odds Holdings, Parent Company of OddsJam, a Fast-Growing Technology Platform for Real-time Odds Data, in Accretive Transaction
-
Latest News1 month ago
Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025
You must be logged in to post a comment Login