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NEW SYSTEM FOR ONLINE CASINO REGULATOR
The Alderney Gambling Control Commission has unveiled details of its new online gambling licensing framework, using the Gaming Executive Summit in Madrid this week as its platform.
The new licensing framework separates the licensing process into two distinct areas, i.e. the entity having a relationship with the player (B2C) and the entity effecting gambling on its gambling platform (B2B). These will now require separate licences, thus allowing the AGCC to tailor licences to the specific focus of each gaming company that applies.
AGCC Chief Executive, Andre Wilsenach commented: "We conducted a detailed study of the industry and the regulatory landscape, both of which are changing very rapidly, and we felt it timely to take a fresh look at our licensing framework.
"There were several key developments which influenced our thinking:
* firstly the emergence of new regulations and licensing regimes in Europe and further afield – a trend we can only see increasing;
* secondly, the entry to market of media companies who are new players in the eGambling industry.
"We are also seeing increasing numbers of specialist service providers and a growth in network gaming. All of this calls for a new approach to deal with the technical requirements and business models in evidence. We were also keen to strengthen our regulatory oversight on games and services not necessarily delivered from our jurisdiction in order to provide a high level of robust player protections."
Robin Le Prevost, the Head of E-Commerce Development on Alderney said "I believe that what we have created has the ability to change the way online gambling regulation is conducted in the future. We have taken a fresh look at how the business is conducted and developed a model which sits comfortably with the varied and changing requirements of players, other jurisdictions and the industry.
"With our telecommunication and technical resources, a favourable tax structure and now a regulatory framework for the 21st century we look forward to welcoming many more of the world's leading operators and service providers to Alderney."
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Gambling News :
Is Gibraltar Out of Luck in US Tax Challenge -
Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.
Quickspin are now available in Denmark -
#quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.
UCypher Launches -
Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.
Extreme Live Gaming In deal With Betsson -
Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.
Expansion Mode For BoyleSports -
The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..
Safecharge Q4-2016 -
Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.
ASA Most Controversial Ads of 2016 -
Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.
Yggdrasi To Enter Italian Gambling Market -
Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.
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