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UK GAMBLING COMMISSION PREPARED TO ACCEPT VALIDITY OF EXTERNAL LICENSES

Posted 1/27/11 : dvertising white list regulators would be favourably considered
 
ICEi at London's Earl's Court this week has been the scene of several key conferences in addition to the massive expo of internet gambling technology and products. Key government and business executives attending the event have made some interesting observations, one of the more practical being from the head of the UK Gambling Commission, Jenny Williams, who told the publication Gambling Compliance that the Commission is considering the acceptance of bona fide regulatory checks carried out in other jurisdictions.
 
Such a move will be welcomed by online gambling operators licensed in offshore jurisdictions and concerned at recent suggestions that a form of secondary licensing and possibly expensive re-inspection may be required by the UK authorities as a prerequisite for being allowed to continue advertising in the UK market.
 
Williams told the publication that the Commission would be 'happy' to accept bona fide regulatory checks and monitoring imposed by other jurisdictions, especially those accepted on the Commission's advertising 'white list' such as Gibraltar, Malta, Alderney, and Antigua.
 
Williams emphasised the need for the Commission to be satisfied that all of its regulatory requirements were met, and if there were 'gaps' in an operator's licensing regime then these would have to be addresses through additional inspection and testing.
 
“We are very happy to outsource to another regulator, or if they do not have the capability then to a consultancy group,” Williams told Gambling Compliance, explaining that the Commission has limited resources and does not plan to expand its staffing levels.
 
The publication reports that Williams opined that a change in licensing rules could be done relatively quickly during the next parliamentary session and would not require a change in primary legislation but merely amendments to the 2005 Gambling Act. There may be tax implications for offshore operators in such a move, she suggested.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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