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Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation
Fintech companies in Kazakhstan are urging greater scrutiny of a proposed law intended to regulate betting transactions in the country.
The submitted legislation, currently in its final reading, would form a monopoly entity, the Unified Accounting System (UAS), the firms said in a joint press release. The UAS would be used to determine market participants, process payments, maintain a single “electronic wallet” and make settlements with clients. A critical concern is that it could charge up to 1.5% in commissions on all market transactions, within a market where regulated transactions exceed KZT1.2tn ($2.6bn) annually.
Irina Davidenko, a spokesperson for Kazakhstan’s payments industry, commented: “The proposed legislation would be a step backwards for Kazakhstan, harming competition in the country’s vital payments sector and signaling to the outside world that necessary business reform is being driven by shadowy interests, rather than what’s right for industries and consumers.”
The proposal, partly billed as a public health move against problem gambling, resembles a previous initiative, the Betting Accounting Centre (BAC). It was shelved in 2021 after a scandal involving a deputy minister who was dismissed for accepting bribes from BAC lobbyists, according to the press release.
The lack of transparency on the UAS structure and ownership as outlined in the legislation is another aspect of the change that is seen by critics as troubling.
The reintroduction of a UAS model occurred as late as the second reading of the legislation. If passed by parliament, it will become law without the comprehensive impact analysis and scrutiny typical for such significant regulatory change.
Observers argue the new regulation duplicates existing regulatory functions already managed by Kazakh state bodies and was proposed without the cooperation of the National Bank of Kazakhstan. The central bank has previously developed its own reform proposal that avoids introducing a monopolistic entity.
Opponents further contend that the regulation could cause “significant economic damage”. National Bank of Kazakhstan representatives and the payments industry have sounded alarm bells, but the issues have not been adequately addressed, the press release added.
The concerned fintech and payment companies want the legislation to be reconsidered. They are advocating for it to be sent back to the lower house of the legislature for a full regulatory impact analysis and thorough examination to ensure that it does not adversely affect industry or the economy.
Ilya Efimenko, commercial director of the payment organisation PayDala, said: “I appeal to the Senators, who need to know the true purpose of why the UAS has made a comeback in the bill.
“This is a re-emergence of the ‘Betting Accounting Center’ (BAC), a strikingly similar entity that was withdrawn before, and behind which, as the deputy from the Amanat party Elnur Beisenbayev said, are the powerful forces of ‘Old Kazakhstan.’
“Before our eyes, a monopolist, a private operator, is being created. The emergence of monopolies such as the UAS threatens the principles of a Fair Kazakhstan. Now everything is being done to break the financial system of Kazakhstan, recognized by experts as one of the best in Central Asia.”
The post Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation appeared first on European Gaming Industry News.
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CT Interactive Appoints Vasil Parvanov as its New Commercial Manager
CT Interactive has appointed Vasil Parvanov as its new commercial manager.
With a rich background in marketing and customer relationship management, Vasil has mastered his skills in driving business growth and optimizing customer engagement strategies. His expertise spans diverse industries, including online gambling, hospitality and retail, where he has consistently demonstrated the ability to innovate and deliver impactful results.
Vasil’s career highlights include his role as a CRM Specialist, where he developed customer segmentation strategies, designed onboarding journeys and engagement initiatives, and significantly improved retention and churn reduction metrics. His ability to create data-driven marketing calendars and implement cross-selling and upselling strategies has consistently enhanced customer loyalty and lifetime value.
He holds a Bachelor’s degree in Property and Facilities Management from the University of National and World Economy (UNWE) and has enhanced his skills through advanced certifications in Digital Marketing.
The post CT Interactive Appoints Vasil Parvanov as its New Commercial Manager appeared first on European Gaming Industry News.
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Push Gaming blends legacy success with good fortune in Dragon Hopper
B2B gaming supplier Push Gaming has leveraged its past successes to drive the creation of its latest feature-rich cluster pays slot, Dragon Hopper.
Boldly combining the best elements of the hit game Fire Hopper, with a sprinkling of flavour from some of its other fan favourite slots such as Retro Tapes, Dragon Hopper provides an exhilarating journey through a far-eastern lantern festival.
Highlighting the studio’s ability to evolve the elements of its existing popular games to refine player engagement, Dragon Hopper incorporates dynamic mechanics such as the Dragon Feature and Mystic Flare Feature, designed to make each spin unpredictable and captivating.
Other new gameplay elements in this latest release include the Bubble Feature, which significantly boosts winning possibilities.
Alongside the studio’s proprietary Push Bet™, which empowers players to enjoy the slot in a variety of ways, increasing retention. The slot is also home to the Cluster Link™ mechanic, which offers players a dynamic way to combine paying symbols into wins.
Dragon Hopper is the latest title in Push Gaming’s elevated 2025 roadmap. It heralds an eclectic Q1 of releases that operators and players can look forward to, including Mad Blast and Power Vault.
Monika Lukowska, Game Producer at Push Gaming, said: “Dragon Hopper takes us on a journey through the mystical orient and treats players to a combination of well-known and unique features.
“Big win potential is ever present via the Dragon Symbol, which allows for the multiplication of wins in the base game, along with features like the Mystic Flare, which can appear on the reels unexpectedly.
“The bonus game combines the Cluster Link™ and Dragon Feature with a new Bubble Feature mechanic that increases the value of symbols and makes for an incredibly engaging play session.
“We’ve taken the best of a host of previous games and used that winning formula to create Dragon Hopper, and we’re delighted to present another hit title.”
The post Push Gaming blends legacy success with good fortune in Dragon Hopper appeared first on European Gaming Industry News.
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Aristocrat Gaming and Aristocrat Interactive to Introduce the Latest Gaming Content and Solutions for the EMEA Market at ICE’s 2025 Barcelona Debut
Aristocrat Leisure Limited (Aristocrat) is set to bring an impressive portfolio of gaming content, solutions and technologies that combine land-based and online gaming, for the premiere year of ICE in Barcelona later this month. Aristocrat Gaming and Aristocrat Interactive will deliver a modern experience that highlights the company’s commitment to innovation, connected experiences and player engagement for the EMEA market.
Aristocrat Gaming will display its latest lineup of top-performing games including Eilers & Krejcik’s most anticipated premium lease game, Phoenix Link, and core cabinet, The Baron Upright.
Featuring player-favourite mechanics, Phoenix Link is the next evolution of the international hit game, Dragon Link, with all-new themes, features, and bonuses on the Neptune Single and MarsX Portrait cabinets. Additionally, and fresh from its North American debut, The Baron Upright cabinet brings with it impressive new technology for the region alongside a portfolio of new iterations of player-favourite games like Ju Cai Jin Gui and more. Mo’ Mummy, Fortune Harmony, and Bao Bao Riches will also feature on The Baron Upright for the first time at the show.
“We’re excited to showcase the latest line-up of content and hardware for the EMEA market. ICE is a fantastic opportunity for us to engage with our customers and display our comprehensive technological innovations and solutions to ensure they get the most out of their casino floor,” said Craig Toner, CEO of Aristocrat Gaming.
The strength of Aristocrat Gaming’s cabinet portfolio will be evident in the company’s booth which will be complete with show-stopping content and a diverse offering of form factors. New and innovative content for the MarsX Portrait will be on display, including Coin Trio Royal, Crazy Chickens, Bao Zhu Zhao Fu Wheel Blast, Whisker Wheels, Reign of Gold, Ultimate Fast Cash and more. The MarsX Dual Upright will feature player-favourite brands like Bao Zhu Zhao Fu Link and Diamond Age to round out the exhibit.
A wide portfolio of multi-games brings big action, including Aristocrat Gaming’s Winner’s World with over 30 games, Fortune’s Choice with eight game titles from the Asia region, and the first original game made for the EMEA and LATAM markets, Royal Collection.
Complementing the land-based content, Aristocrat Interactive will demonstrate its capabilities across online gaming, lottery and sports betting. With four of its key business units displaying content – Content & Aggregation, iGaming & Sports, iGaming White-Label, and iLottery – Aristocrat Interactive will bring to life the seamless player journey from land to online.
“The new frontier of connected experiences is here, and we are excited to showcase all that we have to offer at ICE for the first-time as Aristocrat Interactive. From the best-in-class content to innovative solutions and services, we’re excited to engage with our customers and share our new offerings now available to help them on their online journey,” said Moti Malul, CEO of Aristocrat Interactive.
The post Aristocrat Gaming and Aristocrat Interactive to Introduce the Latest Gaming Content and Solutions for the EMEA Market at ICE’s 2025 Barcelona Debut appeared first on European Gaming Industry News.
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