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New laws could trigger a drop in unlicensed iGaming in Australia

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unlicensed-iGaming-in-Australia New laws could trigger a drop in unlicensed iGaming in AustraliaReading Time: 1 minute

The Australian legislators have made some reforms to the Interactive Gambling Act 2001 (IGA) recently and the reforms are likely to trigger a drop in unlicensed iGaming in the country. According to the Australian Communications and Media Authority (ACMA), the unlicensed activity could come down by even 50% this year.

An ACMA revenue could also drop down to €126 million from €285 million last year. The reforms strengthened the authority’s power to act against unlicensed offshore operators. The new laws also contain provision for slapping €5 million penalties per day to offenders

“Over the past year, we’ve moved decisively to disrupt the provision of illegal offshore gambling to Australians,” – said ACMA chair Nerida O’Loughlin . “We’ve made it clear that Australia’s laws are unambiguous. If you provide prohibited or unlicensed gambling services to customers in Australia, you are breaching Australian law and we will take enforcement action,” she concluded.

The ACMA also set up an Interactive Gambling Taskforce, which is determined to educate, engage and enforce action to break down unauthorised gambling operations.

Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Australia

Silver Heritage appoints Ben Watiwat as CFO

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Silver-Heritage-appoints-CFO Silver Heritage appoints Ben Watiwat as CFOReading Time: 1 minute

Silver Heritage Group,  has roped in Ben Watiwat as its chief financial officer (CFO). He will take charge in 5 November 2018, replacing Basil Jong.

Watiwat is currently working in SafetyCulture, an Australian venture-backed software company, he is holding the charge of head of finance and company secretary.

James Spenceley, Silver Heritage’s non-executive chairman, said: “Having worked with Ben for a number of years at Vocus, I’m delighted he has accepted this role. Ben has significant experience and skills in capital management, compliance, risk, tax and reporting. Ben will be a significant asset for the business going forward.”

“Silver Heritage has built an impressive portfolio of gaming assets across Vietnam and Nepal, including its flagship integrated resort, Tiger Palace,” said Watiwat, adding: “The business has enormous potential and I am looking forward to working with the team to capitalise on the platform they have created.”

Source: FocusGN

Source: Latest News on European Gaming Media Network

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Australian gambling companies spend more for advertising

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Australian-gambling-advertising Australian gambling companies spend more for advertisingReading Time: 1 minute

According to Standard Media Index figures in Australia, gambling companies are spending more for advertising. The spend for gambling advertising has risen by 26 per cent to $140 million this year till July. This increase is despite stricter restrictions, especially about when gambling ads can be shown on TV and online, were introduced this. There was a 121 per cent growth in newspapers, 84 per cent growth in cinema, and 60 per cent growth in outdoor.

In July, gambling advertising revenue rose by 30 per cent year-on-year with lifts across TV, digital, outdoor, and radio.

“Gambling ad spend has no doubt been buoyed by the number of major sporting events in the first half of the year, and also increased competition within the sector,” SMI ANZ managing director Jane Ratcliffe told AdNews.

As per the newly introduced rules, gambling ads are banned from being shown during live sport between the hours of 5 am and 8.30 pm to protect children. Similar restrictions exist for also online betting ads as well.

Source: Latest News on European Gaming Media Network

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With Luxbet’s Closure, Unikrn Loses Its Esports Betting Licenses in Multiple Regions

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Unikrn, the coolest sounding esports betting platform in the multiverse, has suffered a pinprick of a problem after Tabcorp announced its decision to sever the head of their Luxbet business.

 

Tabcorp decided on the cull in the wake of their $11 billion merger with former rival Tatts Group, telling the press that the company that made a tax loss of $13 million last year is no longer aligned with the long-term strategic interests of the bigger picture. 

Luxbet pre-warned punters by announcing a strategic review of the business in August. The decision was passed on to account holders before the weekend emerged from beneath the midweek dark clouds. The final day of action is Dec 22. Punters have until Jan 19 to withdraw funds.

Created in 2008, Luxbet became the partner of choice when Unikrn decided to set up a real money online gambling shop in both Australia and the UK. The death of Luxbet means Unikrn can no longer use their existing licenses, but chief overlord Rahul Sood doesn’t seem to fussed.

Speaking to Esports Observer, Sood, explained that Unikrn were aware of the decision for some time and had prepared accordingly. The Luxbet problem veered from a potential shotgun wound to a pinprick, after Unikrn received a licence from the Malta Gaming Authority (MGA) back in October. They have also secured a European partnership with the French-based RBP.

“Unikrn will expand from two countries to over 80% of Europe and beyond,” Sood told Esports Observer. 

An essential cog in the Unikrn machinery is their cryptocurrency UnikoinGold (UKG), and this week, Sood went to Medium to update his customers on the availability of the digital currency that helped Unikrn raise more than $30m during their recent Initial Coin Offering (ICO).

In the post, Sood said that it was more difficult than ever to get listed on a major exchange, but has managed to partner with CoinHub and Braveno.

CoinHub allows people to purchase UKG in exchange for FIAT currency and Bitcoin and Ethereum. Braveno is an exchange built for companies and developers, which Sood said should help potential partners utilise the Unikrn platform more easily creating UKG liquidity. 

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