In the fast-moving world of gambling, sometimes you might miss news that could be important to you. To make sure you’re all caught up on gaming industry news, be it online or brick and mortar, we’re rounding up the some of the announcements and partnerships from the last week that you might have missed.

Don’t miss out on all of the latest announcements. Our Press Release section is updated constantly.

Caleta Gaming releases their 3rd game this month!

Princess of the Ocean is the title of the new game Caleta Gaming has just released. It features a beautiful pirate princess and her adventures in her ship looking for treasure, it has generous multipliers and varios free spins to keep players on their toes in this exciting new game with excellent performance cross platform.

Relax Gaming launches with new online casino 1win

Relax Gaming, the igaming aggregator and supplier of unique content, has signed a content distribution deal with up-and-coming online casino 1win.

The partnership will enable the operator, which was established in 2018, to launch a selection of quality titles from Relax’s ever-growing portfolio, with proprietary smash hits such as Money Train 2, Temple Tumble and Snake Arena set to go live following integration.

As part of the agreement, 1win will also have access to a wide collection of third-party content, including popular slots from the supplier’s 11 Silver Bullet studio partners, all of which have been specially selected as partners by Relax due to their commitment to quality and innovation.

The deal demonstrates the appeal of Relax’s platform among both established and emerging online casino brands, having partnered with a diverse range of operators of all sizes over the past 24 months.

Yggdrasil unveils Syncronite title with innovative Splitz mechanic

Yggdrasil, the leading global publisher of online gambling content, has released its latest thrilling title Syncronite, featuring the Splitz mechanic, the supplier’s popular innovation introduced this year.

In Syncronite, players are invited to a luxury art-deco environment with atmospheric music and beautifully designed diamonds and casino chips filling the reels. All to create a premium feel without skimping on exciting gameplay.

Yggdrasil’s Splitz mechanic can turn any single symbol on the reels into multiple smaller symbols, increasing the potential ways to win. The Splitz symbols are only available on synchronised reels, meaning you will always land Splitz symbols on multiple reels, up to all six reels in the game.

The number of ways to win can go from a minimum of 729 up to 21,168 from a lucky Splitz.

Another exciting feature in Syncronite is Synced Reels, which gives two to six synchronized reels on every spin. The synchronised reels will all land the same set of symbols, leading to massive Big Win potential, especially when landing Splitz symbols.

Syncronite is the latest Yggdrasil slot to use its proprietary Splitz mechanic, following the release of Neon Rush earlier this year. It joins the supplier’s growing slot offering, including the recent addition Hades Gigablox, as well as its plethora of YG Masters content.

Greentube promotes Steven Batchelor-Manning to Director of Games Technology to spearhead innovation

Greentube, the NOVOMATIC Interactive division, has appointed Steven Batchelor-Manning as Director of Games Technology to drive the company’s technological vision as it prepares to unveil a transformative igaming platform.

Having held various positions with the supplier for over eight years, including his most recent role as Lead Architect, Batchelor-Manning has been elemental in the development of Greentube’s brand new RGS platform. In his new appointment, he will lead on the delivery of cutting-edge technology which will allow the supplier to bolster its product catalogue with market-leading features.

Steven brings unique expertise on the application of modern technologies such as Machine Learning and Blockchain, as well as extensive industry experience to the new position. His knowledge of the product development cycle, specialisation in solving technical problems and experience working end-to-end of the product life cycle will be critical for Greentube as it prepares for a new phase of growth at the forefront of innovation.

Paysafe appoints Scot McClintic as SVP iGaming Product & Strategy

Paysafe, a leading specialized payments platform, today announced the appointment of Scot McClintic as SVP, iGaming Product & Strategy. The appointment builds on Paysafe’s ongoing commitment to specializing in the fast-growing iGaming and sports betting markets which continue to demonstrate significant potential; in the U.S. alone, Paysafe estimates that iGaming deposit volumes could grow from $3.4bn in 2019 to $24bn by 2025.¹

Reporting into Ben Dalfen, Paysafe’s EVP, U.S. iGaming, McClintic has responsibility for collaborating closely with Paysafe’s iGaming, iLottery and sports betting merchants and partners to further strengthen Paysafe’s market leading iGaming product portfolio. 

Designed to allow customers to scale rapidly as the U.S. market continues to open up, Paysafe’s expanding iGaming product suite is also fully integrated into a unified, and fully configurable, payments platform which merchants can seamlessly access via a single API plug-in. The Paysafe payments platform is designed to offer a wide range of both traditional and emerging payments options, such as its Skrill digital wallet and its paysafecard eCash solution, as well as extensive back office support including anti-fraud and risk management services and in-depth data reporting.

McClintic brings to the position over a decade’s experience in strategic business development, product ownership and market analysis, with a strong focus as a licensed operator in the U.S. iGaming space. His most recent role was Chief Product Officer and General Manager at Penn National Gaming’s Barstool Sportsbook & iCasino, an online and mobile sports betting and casino brand. Prior positions include Principal, Strategic Development and M&A at Comcast-NBCUniversal, where he co-founded the company’s sports betting operator strategy. Before that, he held leadership positions at Acumen Fiscal Agent, NRG Energy and Bloomberg.

Mediabrands partners with Affle’s mediasmart platform to strengthen its programmatic advertising offerings in Indonesia

mediasmart, Affle’s self-serve mobile programmatic platform, today announced that it has entered into a partnership with Mediabrands, the global media and data arm of Interpublic Group in Indonesia. Through this partnership, Mediabrands will get to bring mediasmart’s programmatic platform to its advertisers and strengthen its propositions for data-driven programmatic advertising in a fast-growing market.

Condor Gaming Group names Alexandre Ouaknine as CTO

Condor Gaming Group welcomes Alexandre Ouaknine as Chief Technical Officer. The posting comes as part of Condor Gaming Groups ongoing expansion. Alexendre Ouknine joins the team and brings to the table over two decades of experience both in the Public and Private Sector. Ouknine’s experience stems from working with ISPs to Border Protection programs and Cyber Security. His appointment comes to strengthen the Groups Tech Hubs in Croatia and Bulgaria along with plans to expand more offices in Europe and Asia along with the group’s headquarters in Malta. 

Löwen Play GmbH’s New Casino Games to be Powered in Germany by Scientific Games

Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games” or the “Company”) launched its OpenGaming ecosystem with one of Germany’s leading operators, Löwen Play GmbH.

With more than 50 years of experience in the industry through its amusement arcades, Löwen Play is an established operator within Germany. OpenGaming will significantly strengthen the German operator’s online casino games offering.

The leading content aggregation platform features an extensive library of games available from the world’s leading studios, supplemented by cutting-edge player features such as free-rounds and missions with regulatory compliance at the heart of its offering. Löwen Play will now have access to top performing games including the latest Scientific Games release, Spartacus^® Megaways, as well as iconic titles 88 Fortunes^® and Jin Ji Bao Xi^®, with more slots to be added in the following months.

This latest deal highlights the strength of the OpenGaming ecosystem within regulated markets across the globe. Through its scale, reliability and feature-rich player engagement tools, the platform delivers unmissable gaming experiences for players worldwide.

Microgaming PlayItForward extends support for Gordon Moody Association

With a steadfast commitment to safer gambling and player protection, Microgaming supports the Gordon Moody Association in its quest to help those affected by gambling-related harm.

Through its CSR programme PlayItForward, Microgaming will provide the leading charity with funding to support the families of those receiving therapy for problem gambling.

With almost five decades of experience in providing advice, education and therapeutic support to individuals who need it most, Gordon Moody Association is a registered charity that delivers a variety of treatment services, ranging from retreat and counselling programmes to residential treatment centres and relapse prevention housing. The charity also provides specialist online support through its Gambling Therapy service and app.

So far this year, Microgaming PlayItForward has supported dozens of incredible charities, including organisations such as YGAM and Motiv8, which are committed to treating, minimising or preventing gambling-related harm. Since its inception in 2014, the staff-driven CSR programme has had a hugely positive impact on both local and international communities, having provided significant financial and practical help in support of people, place and planet.

Pronet Gaming agrees content deal with All41 Studios

Next generation platform provider Pronet Gaming is to offer a selection of premium content from All41 Studios after agreeing a deal with the Microgaming-affiliated studio.

The collaboration will enable the provider to integrate top-performing games such as Arena of Gold and Book of Atem to its iGaming platform, further diversifying the range of content available to its partners.

Backed by Microgaming in 2019, Estonian-based All41 Studios will join the 70 game providers which are already offered through Pronet Gaming’s casino and sports betting solution, adding to its portfolio of over 6,000 casino games.

Green Jade Games extends Maxima Compliance partnership

Innovative casino content studio Green Jade Games has extended its partnership with leading compliance provider Maxima Compliance. 

The one-year extension will see Maxima Compliance continue to handle all of Green Jade’s operational compliance. This will cover all technical compliance and certification needs, as well as regulatory compliance.

BlueRibbon Signs New Strategic Partnership with Optimove

B2B marketing platform provider BlueRibbon Software has announced a new partnership with Optimove, the leading CRM Marketing solution in the gaming space. As part of the agreement, BlueRibbon will build a seamless, out-of-the-box integration with Optimove, enabling Optimove users to create custom jackpot campaigns, increasing player engagement, loyalty, and retention.

Optimove provides gaming operators with an advanced technology suite, enabling them to scale their CRM Marketing by creating, orchestrating, measuring, and optimizing player-led journeys. BlueRibbon’s integration with Optimove complements Optimove’s offering by enhancing the jackpot promotions and incentives operators can provide to their player base.

BlueRibbon’s marketing engagement platform gives operators the ability to differentiate their brands from the competition by creating unique jackpot campaigns that resonate with each customer segment, driving players into action and incentivizing them throughout the customer lifecycle.

GammaStack and LSports to Redefine Sports Betting Standards Globally

GammaStack, the leading sportsbook platform provider, has announced a collaboration with the world-leading provider of real-time sports data, LSports.

This marks the beginning of a promising partnership. GammaStack is an iGaming Technology company offering solutions and services to clients spread across the U.S.A., Europe & Africa. Their core offerings include ready to launch platforms and custom software development services for sportsbooks, fantasy sports and online casino operators.

The sportsbooks delivered by GammaStack are GLI certified and licensed by Curaçao Gaming Control Board. High-end customizations, robust backend, and unique engagement models along with a strong team of 270+ developers differentiate GammaStack from others in the market.

Following this new agreement, they can now offer their customers the most comprehensive sports data feeds in the business.

LSports has quickly positioned itself as a top odds feed supplier next to generating innovative solutions to ease the bookmakers’ work and offer them a variety of services to increase fan engagement and user retention.

Their comprehensive feed covers a monthly average of more than 35,000 in-play fixtures, 105,000 prematch fixtures, and more than 1,400 markets across 60 different sports (Soccer, Basketball, Tennis, Cricket, Esports, Horse Racing, and more).

The post Gambling Industry Announcement and Partnership Roundup – November 24, 2020 appeared first on CalvinAyre.com.

Costa Rica-based online poker operator Winning Poker Network, WPN, has had to buy millions of dollars worth of Bitcoin every day for several weeks now as more and more players have been requesting Bitcoin payouts when cashing out their winnings.

This reflects Bitcoin’s recent price rally that saw the cryptocurrency soar past $18,000 earlier this week. It has jumped around 60% over the past month, bringing back memories of its massive surge in 2017 that saw it hit $19,783 at one point in December 2017 and that preceded a more than 70% price drop in 2018.

WPN Chief Executive Phil Nagy told Bloomberg that they have had to purchase millions of dollars worth of the cryptocurrency every day for weeks now from over-the-counter trading desks to meet the growing demand of their players to withdraw their winnings in Bitcoin.

Mr. Nagy said that Bitcoin requests account for 90-95% of their payouts at the moment and that players are asking for the cryptocurrency because “it’s going up.” He went on that they are “constantly having to go out and buy Bitcoin – lots […]

more than we’ve ever had to before.”

WPN is one of the world’s largest poker operators. The company powers a number of online poker websites that accept players from around the world.

Majority of Players Reside in the US

Mr. Nagy said that even before the recent Bitcoin price surge and the increased demand for the cryptocurrency, WPN has done more than 60% of its transaction volume in Bitcoin, which is about $100 million a month.

If the company pays out around 95% of its player’s winnings in Bitcoin at present, this equates to nearly $160 million worth of the cryptocurrency a month.

WPN and Bitcoin have a long history together. The operator began accepting the cryptocurrency all the way back in 2014. Last year, the poker network set a Guinness World Record for the largest online poker crypto jackpot worth over $1 million or around 106 Bitcoin at the time.

Mr. Nagy said that the majority of their players, around 60%, are based in the US. And given the fact that online gambling, poker included, is legal only in a handful of states, this might explain the enthusiasm for crypto,

In addition, digital assets enthusiasts may be using WPN-powered and other online poker websites to avoid taxes as there is a general perception that US authorities may be finding cryptocurrencies harder to track. Mr. Nagy told Bloomberg that players file their own winnings and losses and that the poker network does not regulate that.

WPN itself does not really hold on to Bitcoin and converts it into fiat as quickly as it can to avoid dealing with the cryptocurrency’s volatility. However, Mr. Nagy said they are sometimes stuck with Bitcoin, particularly when its price drops. In these cases, the operator sees players send it $100,000 or $200,000 in Bitcoin, “because it’s the fastest way to liquidate it.”

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The post Poker Players Cash In On Bitcoin Price Rally appeared first on Casino News Daily.

Billionaire businessman Tilman Fertitta is bringing the Golden Nugget brand to Illinois as the state’s gambling market is in the middle of its biggest transformation in many years.

Golden Nugget Online Gaming (GNOG), an online gambling company that is part of Mr. Fetitta’s gaming and hospitality empire, announced Thursday that it has teamed up with Danville Development to gain access to Illinois’ nascent online sports betting market. The deal will also enable GNOG to offer online casino gaming, should the practice become legal in the state.

Under the terms of the agreement, Golden Nugget is set to form a joint venture with Wilmot Gaming Illinois to build a new land-based casino in the east-central Illinois town of Danville. The casino will be branded Golden Nugget and will feature a Landry’s restaurant.

Wilmot Gaming Illinois is a subsidiary of New York-based development firm Wilmorite Management Group. The company was selected as the preferred developer of a casino in Danville earlier this year. It will build the property through the Danville Development entity, which will now be a joint venture between Wilmot and GN Danville, a wholly owned Golden Nugget subsidiary.

A sweeping gambling reform signed off by Illinois Gov. J. B. Pritzker in the summer of 2019 allowed for the development of up to six new casinos in the state, including one in Danville. The legislation also authorized retail and digital sports betting in Illinois.

Golden Nugget’s Illinois Expansion

As part of its agreement, GNOG will offer exclusively online sports betting with Danville’s future casino. And if online gaming becomes legal in Illinois, Golden Nugget’s subsidiary will offer exclusively digital casino products on behalf of the gambling venue.

GNOG has additionally agreed to provide a mezzanine loan of $30 million to Danville Development for the construction of the Danville casino. The online gambling company’s Illinois market access agreement has a 20-year term and requires GNOG to share a percentage of its revenue with Danville Development.

The Illinois sports betting and online gaming deal is an important milestone for GNOG as part of the company’s growth strategy. Earlier this year, it became the latest US-based digital gambling company to announce a SPAC merger in pursuit of further growth opportunities.

GNOG is set to soon merge with special purpose acquisition company Landcadia Holdings II and go public on NASDAQ, avoiding the much more complex IPO journey.

Commenting on their entry into the Illinois market, Golden Nugget and GNOG CEO Tilman Fertitta said that “having the opportunity to grow the Golden Nugget brand in Illinois in both the online and land-based markets is an exciting opportunity.” This is Golden Nugget’s first joint venture on a casino project.

GNOG President Thomas Winter added that they are thrilled to have secured market access in Illinois, which is the fifth most populous US state and the largest one to have legalized mobile betting. Mr. Winter pointed out that this is “a tremendous opportunity” for GNOG to further grow its US footprint and “deliver on our ambitious growth plan.”

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The post Tilman Fertitta’s Golden Nugget Lands Illinois Casino, Betting Deal appeared first on Casino News Daily.

In the fast-moving world of gambling, sometimes you might miss news that could be important to you. To make sure you’re all caught up on gaming industry news, be it online or brick and mortar, we’re rounding up the some of the announcements and partnerships from the last week that you might have missed.

Don’t miss out on all of the latest announcements. Our Press Release section is updated constantly.

BetConstruct: East & West Vol. 2 to Expand Industry Horizons

Following the success of the first edition of the virtual igaming expo East & West BetConstruct has decided to open the doors of its digital event hosting platform for the industry representatives and aficionados for the second time on December 8-9. 

Once the worldwide travel ban and social distancing mandate came into force, in the absence of physical events the software developer pursued ways to stay in touch with the industry and provide an experience close to a real exhibition.

In late September BetConstruct had hosted the first virtual igaming expo on a digital event creation platform PandaMR, a result of months of work before, during and after the lockdown the world faced in the beginning of 2020.

Hundreds of stands and thousands of visitors – these figures alone were impressive enough to push the company towards gathering the whole igaming and online sports betting industry again under one virtual roof. 

Upon receiving such incredible feedback and genuine excitement from those involved, BetConstruct is set to repeat the success with East & West Expo Vol. 2. The same highly customizable stand options, advertising spaces and digital ads will be available to the companies who would like to exhibit at the event. Thousands of visitors will be able to interact with these brands, investigate and seek for new deals and partners as well as hold business discussions in the meeting rooms and hear from industry experts at panel talks at the conference hall.

The tickets are absolutely free and already available at eastandwest.com website where more and more details about the agenda and the inside events of East & West Expo Vol. 2 will appear.

Betting platform Pinnacle joins forces with Sumsub to guarantee safer gambling for its users

Today, a leading online betting and gaming operator, Pinnacle, has partnered up with Sumsub, an identity verification platform that covers KYC/KYB/AML needs. Sumsub will ensure a simpler and faster onboarding flow for Pinnacle’s users. On top of that, the KYC & AML provider will help Pinnacle protect their users from unnecessary gambling risks and become even more socially responsible. The betting company will also get all of the necessary tools for payment fraud prevention and smarter risk management.

Pinnacle is a leading online betting platform with headquarters in Curaçao. In addition to sports and esports betting, the company also offers online casino services and has been in the business for over 20 years. Pinnacle is considered one of the most trustworthy sportsbooks in the industry, given its high security standards, which are similar to that of major financial institutions.

Sumsub has empowered Pinnacle with robust verification tools, such as biometric checks and AML screening. Also, the KYC provider has ensured accurate source of funds verification so that Pinnacle’s customers do not spend more than they can afford. This will help the betting platform to comply with responsible gambling requirements. Sumsub has also provided Pinnacle with legitimate chargeback protection mechanisms.

GammaStack Rolls Out 3 Client Projects in Distinct iGaming Markets

GammaStack has recently contributed its 3 customers to go successfully live in the month of August. Being a leader in the iGaming industry since past 8 years, GammaStack possesses unrivalled expertise in distinct geographies and verticals of the iGaming industry. 

Talking specifically about their recent remarkable works, three of their clients named as RaffleAsia, Rich Gambling and GoldKick recently went live in varying markets and verticals. 

GammaStack helped RaffleAsia to launch an online raffle/lottery solution with a certified RNG from iTech Labs in Asian Market. 

Rich Gambling made a successful entry to European market with a esports betting platform that is UKGC compliant and perfectly meets UKGC Remote Technical Standards (RTS).

For GoldKick, they developed a sportsbook integrated with casino in African market that possesses Curacao license. 

GammaStack is a trusted & recognized name in the iGaming software development industry that possesses more than 8 years of experience and expertise in the industry. Their team of professionals with exceptional proficiency in technologies, market trends, audience demands, business challenges and innovative solutions make them stand ahead in the curve. Whether it’s about their advanced sportsbook development solutions, fantasy sports platform development, casino games software development or any other solution offered by them, they always exceed their client’s expectations. They have successfully served 600+ clients globally and helped them achieve their business milestone through advanced and exclusive iGaming solutions.

NetEnt Group debuts Red Tiger games in the U.S. with Rush Street Interactive

Red Tiger makes its U.S. market launch at RSI’s BetRivers.com and PlaySugarHouse.com sites in Pennsylvania

Supported by NetEnt’s licence in Pennsylvania, Red Tiger has directly integrated with one of the market leading gaming operators, Rush Street Interactive, and a range of Red Tiger titles are now available for players in the state. The initial launch of games includes Gonzo’s Quest MegaWays and Cash Volt. These player favorites will also be joined soon by some of Red Tiger’s most popular seasonal titles.

Greentube-owned StarGames is preparing for German market entry

Greentube’s online gaming site StarGames, known in the industry as the first brand to offer the original Book of Ra title to online players in the German market, is set to apply for a nationwide licence in the country as new legislation comes into effect in July 2021.

The brand – now owned by Greentube Malta – has experience in the German market through its licensed operations in the federal state of Schleswig-Holstein. In anticipation of the expansion in the newly regulated German online gaming market, the operator recently released a landing page, which allows those interested to stay up-to-date with the latest developments around the brand.

As part of the preparations to enter the German market, StarGames is taking all steps necessary to ensure that its offering is compliant with the latest Responsible Gaming guidelines and regulations introduced to promote social responsibility and to minimise gambling-related harm. These new regulations include a “reality check” functionality, five-seconds spin intervals, cooling-off periods, a monthly deposit limit, stake and time limits as well as a ban on autoplay and progressive jackpots.

Pronet Gaming to integrate Optimove’s CRM Marketing Hub

Platform provider’s partners to benefit from engagement-driving tool suite. 

Next-generation platform provider Pronet Gaming has signed a deal to integrate Optimove’s leading CRM Marketing suite.

The agreement will enable Pronet Gaming’s operator partners to maximise player lifetime value with highly personalised, scalable CRM marketing that leverages data from its fully customisable iGaming platform directly into Optimove.

Optimove’s product also provides behaviour and event-triggered campaigns targeted to distinct player segments, along with predictive analytics, automatically identifying and triggering a real-time response to changes in player behaviour.

The deal further builds on the value provided through Pronet Gaming’s platform, which now boasts a portfolio of 6,000 games from nearly 70 slots studios that have wide-ranging appeal, particularly in emerging markets.

iSoftBet launches Eyecon games catalogue to Game Aggregation Platform

Iconic Eyecon slots, including Fluffy Favourites, now available on industry leading aggregation platform

iSoftBet, the leading online games supplier and content aggregator has added 100 Eyecon slots, including the ground-breaking Fluffy Favourites, to its industry-leading Game Aggregation Platform (GAP).

Eyecon is one of the U.K.’s most established casino game developers with smash-hit slots to its name such as Fluffy Favourites, Temple of Iris, and Shaman’s Dream. These renowned titles, plus many more, are now available to all iSoftBet’s global GAP platform partners alongside more than 8,000 titles from 70 leading studios.

The GAP offering also gives Eyecon access to a suite of player engagement solutions and gamification tools such as iNgame to attract and motivate users in a creative way.

GAP is one of the most dynamic and flexible aggregation platforms on the market. With a single integration, GAP enables the world’s largest brands to rapidly access the latest regulated territories – now including Germany.

It also includes iSoftBet’s increasing collection of more than 150 thrilling slots anchored by the top performing Hot Spin and Gold Digger as well as its growing Megaways titles. iSoftBet’s latest slot release is Western Gold Megaways where players are transported to the Wild West in search of huge wins.

Soft2bet launches B2B brand SlotsPalace

Cyprus, 18th November 2020 – Casino and sportsbook platform provider Soft2bet has unveiled gamified slots brand SlotsPalace.

SlotsPalace’s playful design combines a vast array of premium content from its in-house studios and third-party suppliers with an unrivalled user interface, which together make for a premium gaming experience that appeals to a variety of demographics.

Featuring the engaging gamified elements that Soft2bet’s platform has become renowned for, SlotsPalace will offer players the chance to earn achievements and open art collections, an industry first. Diamonds can also be won through gameplay, with an on-site boutique where these can be traded in for bonus cash and free spins.

The omnichannel brand is now live and integrates 60+ payment methods and multiple language variations including Portuguese, Italian and Spanish.

Welcome Break renews partnership with leading provider of gaming machines

Playnation, a part of Inspired, contract extended for further five years. 

Welcome Break, one of the U.K.’s leading motorway service operators, is pleased to announce the extension of its partnership with Playnation, a part of Inspired Entertainment, a leading provider of gaming machines, who will continue to provide its entertainment services across all Welcome Break sites.

Playnation has a long-standing relationship with Welcome Break, providing customers with some of the best adult gaming machines across the motorway service sector. Given the success of this partnership and the proven popularity of their products, Welcome Break is pleased to extend this relationship for another five years. Playnation will embark upon a full product refresh in the first 12 months to upgrade their existing gaming offering and systems to enhance the customer experience. 

ORYX Gaming and SoftSwiss agree content deal

ORYX Gaming, a Bragg Gaming Group company (TSXV: BRAG, OTC:BRGGF), has struck a deal with SoftSwiss that will see ORYX’s exclusive RGS content go live on the supplier’s aggregation platform. 

SoftSwiss will initially integrate ORYX’s proprietary titles and content from RGS studio partners GAMOMAT, Kalamba Games, Givme Games and Golden Hero, with games from CandleBets, Peter & Sons and Aracdem to follow. 

ORYX’s RGS offering provides operators with an extensive range of world-class titles that appeal to a wide audience of players. 

SoftSwiss offers a premium online casino platform featuring more than 10,000 casino games from leading game providers and holds licenses in numerous jurisdictions with clients operating in Europe, LatAm, and the CIS region. The SoftSwiss Game Aggregator has seen significant growth over the last 12 months with over 30 new providers adding their content, and the monthly volume of bets has tripled. Founded in 2012, the supplier also offers white label casino and sportsbook solutions, a crypto casino product with secure payment processing, and an affiliate marketing system.

Julian Borg-Barthet joins Curated Gaming business Pretty Technical

Leading product and platform engineering and operational support company Pretty Technical has appointed gaming-industry veteran, Julian Borg-Barthet, as the Director of Business Development. Julian will be joining the Pretty Technical senior management team from his role at the independent gaming testing laboratory, BMM Testlabs, where he was the Vice President of Business Development.

Julian brings his 12 years’+ experience in the land-based gaming, iGaming, and Lottery industry to the newly created Director of Business Development role. Julian’s extensive experience and network will support Pretty Technical’s next phase of growth in its campaign to become the definitive provider of ‘Curated Gaming’ to the global gaming sector.

Over the next 12 months, Julian will also be responsible for driving Pretty Technical’s existing product range, including Wagerpay, Mikado, and the Domino Vault, to new markets in line with company strategy.

The post Gambling Industry Announcement and Partnership Roundup – November 19, 2020 appeared first on CalvinAyre.com.

This is a guest contribution by John O’Neill. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you.

If you work in financial services then you’re already aware that knowing your customer (KYC) is not just an essential process, it is also a legal requirement. It’s part of the essential tasks banks perform to tackle anti-money laundering (AML) and other financial crimes.

Back in June 2017, the European Commission’s Fourth AML Directive set out new rules to help combat money laundering. This was supplemented in January 2020 with the Fifth AML Directive, which aimed to increase transparency about who really owns companies and other financial entities.

Similarly, in May 2018, the US Financial Crimes Enforcement Network (FinCEN) required banks to verify the identity of customers who own, control and profit from companies when they open accounts.

In spite of these efforts, the introduction of KYC policies within banks and financial institutions has not always been rigorous or wholly successful. Since 2008, global fines for non-compliance with AML, Know Your Customer (KYC), and sanctions regulations have exceeded $36 billion, with $10B in 2019 alone. Last year, 12 of the world’s top 50 banks were fined for non-compliance. And based on sanctions activity so far this year, that number will increase in 2020.

FinCEN recently reported that it is modernizing its AML requirements, which is likely to include updated guidelines for KYC. What will this mean for those working in compliance, and how does this affect the status quo?

First, let’s examine the three components that comprise an effective KYC program:

• Customer Identification Program (CIP)
• Customer Due Diligence (CDD)
• Ongoing monitoring

When it comes to CIP and CDD, financial institutions put measures in place during the client onboarding to screen who they do business with. This means new customers are screened according to the bank’s policies and against watchlists before being allowed to conduct business. Where this KYC process can falter, however, is with the ongoing monitoring (or lack thereof) of customers, especially those who present as high-risk. Because customer profiles can change over time, financial institutions may fail to prevent money laundering or terrorist financing if they do not maintain a process that allows for ongoing, or periodic, review.

A recent report by the Financial Conduct Authority, “Financial Crimes Thematic Review” found: “Around three-quarters of banks in its sample, including the majority of major banks, were not always managing high-risk customers and Politically Exposed Persons (PEPs) relationships effectively and had to do more to ensure they were not used for money laundering purposes. The FSA identified serious weaknesses in banks’ systems and controls.”

In addition to CIP and CDD checks at onboarding, many traditional KYC models review customers at other periods within the relationship. For example, it is not uncommon for many institutions to screen at one, three and five year intervals. But this approach still leaves large swaths of time in which the bank has no insight into or oversight of changes to customer profiles.

Given these pitfalls, why haven’t banks and other FIs made strides to improve their KYC programs? One reason is that many institutions rely on processes that are heavily manual, and thus both time-consuming and inefficient. Humans sifting through heavy volumes of paperwork or data searching for inconsistencies or suspicious transactions not only requires huge amounts of time, but is also susceptible to human error.

Moving to a more automated and AI-based model allows for continuous or dynamic monitoring. Any changes to customer profiles can be highlighted, and alerts can be triggered at any time. If the AI uses machine learning algorithms, it can not only scan huge amounts of structured and unstructured data 24-hours a day, it can also learn and adapt to become more accurate, reducing the number of false positives that require investigation. By learning and mapping new patterns of suspicious behavior, an explainable AI system can help an institution take preventative action and reduce its risk of non-compliance.

As McKinsey’s Transforming approaches to AML and financial crime report noted: “AI can also ensure that learnings from transaction monitoring or false positives are used to refine initial KYC questions, optimizing not just the KYC process but the full AML value chain.”

With an AI solution, an institution will gain continuous monitoring, and the quality of the monitoring will improve over time. Further, issues can be addressed as they happen and with the security of 100% compliance. The result is an improved, endlessly learning process that is automated, yet controllable, and with increasing effectiveness.

About John O’Neill:

John O’Neill received a Ph.D. in Chemical Engineering from the University of Illinois, modeling big data sets on supercomputers. He’s worked in the tech industry in Chicago for the last 25 years, primarily in the field of machine learning and Artificial Intelligence. His first novel, The Robots of Gotham, was released in 2017 by Houghton Mifflin under the name Todd McAulty.

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