Regulation round-up 18 November 2014
The biggest regulatory news from the egaming industry in the last seven days (12 November to 18 November 2014)
eGaming Review launches compliance and regulation database
Pageant Gaming Media has launched EGR Compliance, a comprehensive database of compliance and regulatory information exclusively for eGR subscribers.
EGR Compliance provides detailed, relevant and up-to-date information on key egaming jurisdictions including the UK, Spain, Bulgaria, Germany, Brazil and the USA compiled by expert counsel based in each country.
It is designed to give online gambling executives, investors and analysts instant access to crucial information on the sector and is free to all subscribers and employees of any subscribing organisation.
Data on each country is broken down into sections on licensing, operational, product and marketing and provides detailed information on each product vertical with answers to the questions that are relevant to your business today.
EC dismisses Croatia approval reports
The European Commission has rejected recent reports suggesting it had given Croatian authorities the green light to implement its planned regulatory framework, with an EC spokesperson telling eGaming Review it considers the bill to be in breach of European law.
Various media reports from last week said the EC had given Croatia’s Gaming, Prize Games and Entertainment Games Act the go-ahead after the country had submitted the bill to the EC for final consideration earlier this year.
However, speaking to eGR, a spokesperson for the EC dismissed the reports and said it was unaware as to where the stories may have originated from.
“The Commission did not give a green light to Croatia’s draft online gambling act,” the spokesperson said. “The Commission issued a detailed opinion, which means we have concerns about the compatibility of the draft with EU law,” the spokesperson added.
Ultimate Gaming withdraws from US egaming market
The stuttering regulated US online gaming market has claimed its first casualty after Ultimate Gaming revealed it was ceasing operations in Nevada just two months after the Las Vegas-based firm withdrew from the New Jersey market.
The company’s chairman Tom Breitling said online poker revenues in Nevada had fallen “far short of original projections” and blamed the ongoing state-by-state approach to online gaming for created an “extremely cost-prohibitive and challenging operating environment”.
“These factors have combined to make the path to profitability very difficult and uncertain. Consequently, we have decided to cease operations,” he added.
The closure is effective immediately upon complying with regulatory requirements and Breitling said the firm was “working closely” with state gambling regulators to ensure a “smooth transition” for customers.
Italian market continues upward trajectory
Italy’s regulated online gaming market continued its recent resurgence during October as its casino and sportsbook verticals both posted double-digit year-on-year growth in gross gaming revenues (GGR).
According to figures seen by eGaming Review, casino cemented its place as Italy’s premier vertical after posting a 13% rise in GGR for the month to 22.5m – its best monthly performance so far this year.
The figure also represented a 6% sequential rise after the market recorded 21.3m GGR in September with the improving numbers coming amid attempts from the regulator to cut off the supply of games to the unregulated market.
Casino’s growth was mirrored by sportsbook after the gradually liberalising vertical posted a 14% year-on-year increase in GGR to 16.3m.