Latest News

The evolution of AML, w/Antonello Cuschieri, MLRO and Managing Director at Greentube Malta

Published

2 years ago

October 20, 2022

Reading Time: 3 minutes

Since the introduction of the 4^th Anti-Money Laundering (AML) Directive, new requirements and have increased the compliance burden for the industry. We spoke to Greentube’s MLRO Antonello Cuschieri about how the company has stepped up to the challenge, heightened by it operating across numerous global markets.

How do you balance business needs and regulatory demands and what are the tensions in this relationship?

AML is a hugely important area of compliance for the industry and one that has been even more prominent after the implementation of the 4^th Anti-Money Laundering Directive in 2017. Ensuring compliance is crucial and at Greentube we work hard to ensure the whole company understands the importance of ensuring compliant operations and keeping money laundering and terrorist financing out of the businesses. Establishing the right compliance culture is a big part of this along with educating our teams on the importance of maintaining a compliant approach to both the business and market demands. In some regions, the rules and expectations still remain unclear, and we wish regulators would take on more of an educational role, to work with the industry to reach our mutual goals. Transparency brings stability and uniformity and open communication between the industry and regulators and more granularity within the regulation itself would ultimately ensure a safer environment for customers. Each market is different, so a one-size-fits-all approach does simply not work. That is also what makes this area trickier to navigate for the industry.

Have some regulatory bodies taken things too far?

Enforcement in this space is critical and it is proof that the framework is working when regulators issue penalties on operators that have failed to comply. At Greentube, we try to learn from the mistakes of industry players and ensure we keep aware of any developments in the area. Regulators and the industry have a common objective – to ensure the sector has a good reputation – and any instance where the industry falls short, hurts the public’s perception and customers’ trust in us as operators. In our view, regulators are very present and, when enforcing, they are not too strict as AML is a vital part and must ensure that operators live up to the highest standards. We operate in a very sensitive area which needs focus and attention, therefore the regulators must be vigilant and active in terms of enforcement. It’s a duty and obligation of all stakeholders to safeguard the sector.

How can barriers be broken down so that regulators and gaming companies work together for the common good?

It again comes down to education, clarity and collaboration. It is such an important subject and sometimes regulations cannot be left open for interpretation as that would bring uncertainty. We must stay vigilant, as criminals will always find new ways to use the industry for their illicit aims. There are additional challenges including the lack of insight we have on activity that takes place elsewhere, such as accounts with other operators and even within other industries such as banking. If we want to protect the industry, we need to extend the regulatory regime to also include other sectors that service the gambling industry thus encouraging and enhancing cross-industry collaboration which give operators a wider and more holistic view of the facts. We are already seeing this with some regulators, such as in Germany, where they are taking a more prominent role in controlling the industry itself, particularly on player protection. Rather than leaving the operators to work singularly on their own, the German regulator has adopted a more central role and that is the proper way to protect the customer.

Have there been market-specific challenges around AML arising as Greentube expands into new and emerging markets?

Every market, even though European AML directives are in place, has its own characteristics and variables that impact operators’. How much gambling is ingrained within the country’s culture, the offering itself, what’s allowed in terms of products and payments, and so on – all these elements might expose operators to additional risks, so the challenges vary. One point is key, however, if you are expanding your market reach, you need to make sure your compliance team is growing at the same rate as every new region adds to the burden from a regulatory perspective. At Greentube, our ethos is to be a responsible supplier and operator and as the regulatory landscape continues to become more complex, we will increase our focus and efforts in the space to safeguard our customers and keep crime out of gambling.

Latest News

Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry

Published

1 day ago

May 3, 2024

George Miller

Reading Time: 2 minutes

Innovative engagement strategy positions MeridianBet as a leader in CSR within the betting and gaming industry
Optimized brand loyalty as active customer participation in CSR strengthens connection and loyalty
Scalable impact, as the model is designed for expansion and could be adapted to new markets, indicating potential for widespread adoption and growth

Transforming Customers into Environmentalists and Humanitarians

MeridianBet’s pioneering initiative, Meridian Donate, is transforming the betting industry by engaging customers directly in corporate social responsibility (CSR) actions. This unique platform allows customers to actively participate in and fund various environmental, societal and humanitarian projects, setting a new standard for customer engagement and community impact.

Key Features of Meridian Donate:

Direct customer involvement: Customers are not just donors but active participants in CSR decisions
Diverse programs: Offers choices from global afforestation to local humanitarian efforts
Partnerships with renowned organizations: Collaborates with entities like the Red Cross and UNICEF

Expanding Impact: A Year-by-Year Growth

The Meridian Donate platform has seen substantial growth in its scope and impact:

Number of individual campaigns: Grew from 8 in 2021 to 20 in 2023
National markets Integrated: Expanded from 3 in 2021 to 8 in 2023
Direct Beneficiaries: Increased from 43 NGOs in 2021 to 159 in 2023

In 2023 alone, the platform’s expansion into eight markets facilitated 20 customer-funded campaigns, directly benefiting 159 NGOs, up from 122 the previous year.

Continued Commitment to Innovation and Community Involvement

Meridian Donate not only showcases MeridianBet’s dedication to CSR but also redefines the role of digital marketing within the industry. By converting sports bettors into active CSR participants, Meridian Donate enhances customer loyalty and brand value, making it a critical element of MeridianBet’s market strategy.

Recent Successes and Future Outlook

In its recent operation, Meridian Donate has launched an ambitious global afforestation initiative, committing to plant 20,000 seedlings across various regions. This project not only underscores our environmental commitment but also enhances our brand’s community presence. Already, several hundred contributions have been recorded in the platform’s first month, indicating robust customer engagement and support.

The post Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry appeared first on European Gaming Industry News.

Latest News

Imagine Live Launches Casino Hold’em

Published

1 day ago

May 3, 2024

George Miller

Reading Time: < 1 minute

Imagine Live proudly unveils its latest game addition – Casino Hold’em. This thrilling new game promises to elevate the poker experience for enthusiasts and novices alike, combining the excitement of traditional Texas Hold’em with the thrill of live casino action.

Casino Hold’em offers players a dynamic and immersive gaming experience. With sleek graphics, intuitive gameplay, and live dealers, players will feel seated at a high-stakes table in a world-class casino right from the comfort of their homes.

Key features of Casino Hold’em include:

Neon-lighting Studio: Casino Hold’em has a very inviting atmosphere. It features an elegant, well-designed studio with neon lighting that evokes a sophisticated gaming environment.

Captivating Gameplay: Stunning graphics and seamless gameplay transport players to the heart of the action.

Bonus Bet: In Casino Hold’em, players can place a Bonus bet alongside their initial Ante bet. Even if the Play bet is lost, the Bonus bet remains unaffected and can still be won if the specific hand criteria are met.

Multiplatform Compatibility: Enjoy Casino Hold’em on desktop, tablet, or mobile devices, allowing players to play anytime, anywhere.

“We’re thrilled to introduce Casino Hold’em to our players,” said Mikayel Aznauryan, Chief Product Officer at Imagine Live. “At Imagine Live, we’re committed to delivering premium gaming experiences, and Casino Hold’em is no exception. With its blend of live action, strategic gameplay, and neon design, we believe it will quickly become a favorite among poker enthusiasts worldwide.”

The post Imagine Live Launches Casino Hold’em appeared first on European Gaming Industry News.

Latest News

Relax Gaming increases Italian presence via Octavian Lab aggregation deal

Published

1 day ago

May 3, 2024

George Miller

Reading Time: < 1 minute

Relax Gaming, the iGaming aggregator and supplier of unique content, has further increased its footprint in the Italian market with Octavian Lab.

Octavian Lab is a software house and service provider for online gaming suppliers. Led by highly specialised technicians, the company is committed to the development of products, protocols and integrated solutions in key regulated iGaming markets.

This partnership will see Octavian Lab’s operator partners in Italy, including leading sportsbook and casino Eurobet, gain access to a host of popular Relax Gaming titles.

Eurobet players are now able to enjoy timeless classics from Relax Gaming including the hugely popular Money Train series, Wild Chapo 2 and Marching Legions.

Gianluca Crimaldi, Director of Italy at Relax Gaming, said: “In order to continue our hugely successful trajectory in key markets such as Italy it is imperative that we continue working alongside some of the industry’s best aggregators.

“We are delighted to partner with the talented team at Octavian Lab who are helping ensure our games reach Italian players via the country’s top operators.”

Emanuele Nocentelli, CEO of Octavian Lab added: “We are proud of our partnership with Relax Gaming, one of the industry’s leading providers of high-quality games. It’s fantastic to be distributing their portfolio via our Gaming and Aggregation platforms and we are confident that Relax content will resonate with a wide audience of players across Italy. We look forward to maintaining and building upon this partnership for a long time to come.”

The post Relax Gaming increases Italian presence via Octavian Lab aggregation deal appeared first on European Gaming Industry News.