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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.
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Gamblers Connect, a leading iGaming media & affiliate website connecting operators, providers, and players across the global industry, is proud to announce its latest strategic partnership with one of the most respected names in iGaming technology, Slotegrator.
Founded in 2012, Slotegrator has become a cornerstone of the iGaming B2B landscape, empowering hundreds of successful online casinos and sportsbooks with a complete suite of advanced software solutions. From its Turnkey Casino Platform and APIgrator Game Integration module to its Telegram Casino and Moneygrator payment gateway, Slotegrator has continuously set the standard for innovation, flexibility, and compliance.
This partnership marks a major step in Gamblers Connect’s evolution from a trusted affiliate platform into a full-scale media and B2B hub, one that not only connects audiences with the world’s top operators but also shines a light on the technological engines driving the industry forward.
Through this collaboration, Gamblers Connect will highlight Slotegrator’s market-leading solutions across its media channels, showcasing how their technology simplifies market entry, accelerates growth, and ensures regulatory compliance in emerging and established jurisdictions alike.
Slotegrator’s expertise in areas such as crypto casino infrastructure, white-label platforms, and licensing advisory perfectly aligns with Gamblers Connect’s mission to connect the entire ecosystem, from software innovators to decision-makers seeking trusted, efficient, and future-ready solutions.
Together, the two companies will continue to emphasise values that have defined their success: responsibility, transparency, and innovation.
Ataur Rosul Abeer, Sales Supervisor at Slotegrator, commented: “We’re excited to collaborate with top-tier partners to showcase our latest innovations and deliver even more engaging experiences to the global iGaming community.”
Gjorgje Ristikj, Founder & CEO of Gamblers Connect, added: “Partnering with Slotegrator represents more than just a collaboration, it’s a strategic alignment of vision. Both our teams share the same goal of improving and Connecting the iGaming industry through quality, integrity, and technology. We’re proud to stand alongside such a respected name as we continue expanding Gamblers Connect’s media and B2B reach worldwide.”
The post Slotegrator & Gamblers Connect enter a new partnership appeared first on European Gaming Industry News.
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Emerging-markets leader broadens its eclectic gaming suite with fresh content from an emerging force in the sector
QTech Games, the leading game aggregator for emerging markets, has continued to build the momentum in its premium pipeline, thanks to its latest deal with prominent igaming supplier KingMidas Games in a move set to power the studio’s aggressive international expansion strategy.
Through this partnership, more than 100 KingMidas Games titles—spanning its signature Classics, Next-Gen, Slots, and other top-performing genres—are now available to new operator partners via QTech’s definitive aggregator platform for emerging markets.
KingMidas Games is becoming known for its “next-generation content” which serves as a cornerstone of its gaming suite. Its diverse portfolio includes Cards, Chips, Classics, Dice, IP Content, Lottery, Roulette, Slots, and Virtual Experiences – and is defined by radical thinking and engaging game mechanics, as exemplified by high-speed go-kart races, animal obstacle courses, or survival-style gameplay.
This deal organically widens KingMidas Games’ international footprint, unlocking untapped jurisdictions for diversified growth from Asia to Africa and Eastern Europe to Latin America, where the supplier has made strong recent strides together with QTech Games.
Philip Doftvik, QTech Games’ CEO, said: “We’re committed to rolling out first-class content that drives revenue for our partners. So, this deal with KingMidas Games extends our impressive sequential pipeline into 2025. Operators are always looking for fresh and engaging titles that truly stand out, and KingMidas Games is thriving against the backdrop of a homogenised marketplace. Like us, KingMidas is dedicated to delivering experiences that combine creativity, tech, and cultural relevance to meet evolving localised player expectations and drive new revenue streams for our growing group of worldwide operators.”
Sean Auret, Global Head of KingMidas Games, added: “We are thrilled to further collaborate with QTech, one of the industry’s leading aggregators renowned for connecting high-quality content with dynamic markets. This partnership amplifies KingMidas Games’ reach across key emerging territories and marks another exciting step in our mission to deliver next-generation gaming experiences to a truly global audience.”
The post QTech Games maintains its gold standard with KingMidas Games appeared first on European Gaming Industry News.
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Leading iGaming content provider Spinomenal has released Demi Gods VII Ultra Mode as part of its hugely successful Demi Gods Series.
Demi Gods VII is a 5×4 reel 50 lines video slot that takes players on an epic journey through the realm of the immortals, where financial fate rests with the gods. A powerful, surging soundtrack amplifies the gameplay and makes for a thunderous reels experience.
Persephone, Hephaestus, Nyx and Zeus each guard their own unique feature, offering players a thrilling blend of mythology, artistry, and innovation. Wilds count for all symbols except the free spins symbol and five on a line pay x300 the bet. In the base game, a win multiplier may appear while the reels are spinning to multiply the win by either x2 or 3x.
Three or more full-sized Scattered free spins symbols will initiate the Free Spins feature and each time this occurs, players will move to the next Free Spins feature marked by the four gods. Landing the Ultra Scatter Free Spins to complement the Free Spins boosts each of the Free Spin features.
The journey begins with Persephone for Guaranteed Wins where any spin resulting in a loss means a respin triggers which guarantees a win.
Another three Scattered free spins takes players to meet Hephaestus for Sticky Wilds. Here while the reels are spinning, a Sticky Wild symbol can appear and will stay on the reels until the end of the free spins round. In Ultra Mode each respin adds a multiplier, starting at x2 and increasing with every additional respin in the same sequence. The multiplier resets after a winning spin.
Nyx is next for Synced Reels for every spin, two random reels on the slot will be synced and identical to one another. If Ultra Mode is active, then three random reels will be synced rather than two.
The end of the Free Spins road is Zeus and Stacked Wilds Respin. During this round, each time a stacked Wild symbol fully lands on a reel, a respin is triggered. Ultra Mode means that there will be guaranteed stacked Wilds on every spin across reels one to five. Two stacked Wilds landing fully trigger a respin.
The post Spinomenal presents: Demi Gods VII Ultra Mode appeared first on European Gaming Industry News.
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