SiGMA Manila and Manila AI and Blockchain Summit will take place on 8 and 9 June 2020 at the SMX Convention Centre in Manila. Asia is leading the way in merging new blockchain and AI technologies with the global iGaming sector. SiGMA Group is strengthening trade ties with the jurisdictions in the region to facilitate fresh business opportunities for European companies, according to the press release. 

“Regulatory turmoil in Europe and increasing appetite in Asia for online gambling and distributed ledger technology (DLT) has led us to take this bold leap forward and launch our two most successful shows in Asia. Whether you are in iGaming, AI, blockchain, or emerging tech, our mission is to support the obvious trend of European brands expanding East, and we are delighted to endorse the great opportunities that exist in Asia”, says Eman Pulis, CEO of SiGMA Group.  

“We do not just want to react to what is going on out there, but we want to take an active, leading role in not only bringing the Asian and European community together but also building long-lasting commercial opportunities,” commented Mr Pulis. The joint expos in Manila are expected to welcome over 600 exhibitors and 11,000 attendees from across the globe. With the launch of SiGMA Manila 2020 and the Manila AI and Blockchain Summit the group hopes to support European companies in forging closer relations with their Asian counterparts and introduce themselves to global companies.

The post SiGMA Group announces summits for Manila 2020 first appeared on The Malta Business Weekly.

Despite its rather limited size, Malta has been a great environment for us to grow. LeoVegas started off with just five employees and today there are over 400 at the Malta office alone. As a gaming operator and employer, the Maltese market has a lot to offer when it comes to recruitment of competent talents, industry knowledge and opportunities connected to this.

The fact that Malta was the first EU jurisdiction to issue online gaming licenses was a major factor in attracting the most prominent operators of the industry. Over the years, more and more operators decided to open offices here and this trend started attracting a wider base of companies, including — but not limited to — gaming providers and payment gateways.

“We have been in Malta since October 2012 and one of the reasons we decided to base our operations here was because of the country’s advanced regulatory framework.”

– Director of Business Development Hanna Lerenius

We are lucky to be situated in the centre of Sliema with a newly-refurbished office space that more or less has it all, including terraces with almost 360 degrees views. We have worked closely with interior architects and designers to create a fun and functional working environment with plenty of space for social gatherings and events.

We sincerely believe that this initiative, among many others, makes LeoVegas the place to work for talented individuals looking for personal and professional growth. Our goal is not only to keep growing, but also to accelerate the growth. We have various short to long-term plans which should see our operations in Malta accommodating this growth. The coming years will be extremely exciting for us, as we are looking forward to seeing what the future has got in store.

New Spanish market raises hopes

We have high hopes for the Spanish market, as it is one of the biggest European markets that regulate both betting and casino games. The market has been regulated for quite a few years now and can definitely be considered one of the more mature regulated markets in Europe. At the same time, the market is growing at a high pace and we do expect both fierce competition and great opportunities.

As for any new market, it comes with a new culture to grasp and new customer and product requirements to adapt to. We have recruited native Spanish speaking personnel and an experienced country manager to make sure we will provide our players with a truly Spanish LeoVegas experience. We can definitely hear more Spanish in the corridors at the LeoVegas office in Malta.

At the same time as we are doing our utmost to tailor the LeoVegas experience to the Spanish market, we are also planning on utilising our strengths and our core – most importantly, our fantastic mobile casino product. We are entering the market with a very clear vision: “To provide the best casino experience on mobile to Spanish players”. We believe that no other brand has claimed that position and this is exactly what we have done successfully in other markets in the past. This is what we are aiming at doing in Spain.

Of course, we know that building a market and a solid player base takes time and effort. That being said, we are fully committed to making the Spanish market a success story and we prepare our business and operations accordingly.

With the entry into Spain, we also look forward to further leveraging our knowledge of operating in regulated markets. If one compares one regulation to another, there are always similarities and differences. However; the similarities always outweigh the differences. For each regulated market that LeoVegas enters, we are better prepared for the next, no matter if it comes to operational processes, marketing or product and platform development.

The latest European market that regulated was Sweden, with LeoVegas being one of the very first operators to receive a license. Because of the market’s size and strategic importance to LeoVegas as a group, obtaining the Swedish gaming license was a major milestone for us. It also means that from a Maltese operations perspective, we have experience from yet another regulated market, something which we, of course, are planning to leverage — we are ready and eager to take on Spain.

Data-driven marketing approach

At LeoVegas we measure all of our marketing activities closely both online and offline and we make decisions based on data and key performance indicators (KPIs) more than anything else — such as following a gut feeling, history or prestige.

As an example, we know the difference between customer value and different marketing sources on a quite granular scale and plan our investments based on that in a very agile way.

The result is more value for every single euro spent and important insights on where we need to improve. That can be anything from conversion rate in a specific part of the customer journey to how the audience perceives our brand communication in television commercials. This, of course, goes for all markets and is something that will be a critical success factor for us in the Spanish market.

BIO: As Director of Business Development, Hanna Lerenius is heading LeoVegas’ expansion into new markets and is driving initiatives to improve the scalability and efficiency of LeoVegas’ operations.

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The MGA focused on the regulatory compliance through the implementation of a number of innovative internal and external initiatives which improved overall governance and supervision of the gaming sector, the press statement says. At the same time, the authority says it continued to further strengthen its anti-money laundering (AML) and combatting financing of terrorism (CFT) supervision to ensure effectiveness in the mitigation of ML/FT risks relating to gambling services.

In 2018, the MGA and the Financial Intelligence Analysis Unit (FIAU) jointly issued the Remote Gaming Implementing Procedures – Part II document that was directed toward the remote gaming sector. Throughout the year, both authorities participated in cooperative initiatives to strengthen the oversight of the gaming sector, the press statement mentions one of the highlights of last year.

The MGA conducted a total of 33 AML/CFT full-scope examinations, eight of which were conducted jointly with the FIAU. The authority says it also placed a strong emphasis on effective enforcement. To this effect, the MGA has issued 16 Notices of Reprimand and 73 Notices of Breach, suspended four licences and cancelled another eight. In addition, a total of 139 administrative fines were imposed on operators following various regulatory breaches.

The MGA’s Fit & Proper Committee deemed 63 individuals or companies to be unsuitable for a licence, or for a significant role in a licensee, as the case may be, in 2018. In particular, 37 of these were related to individuals or companies considered as not having satisfied the integrity and reputation pillars of the MGA’s fit and proper criteria due to possible connections to money laundering or funding of terrorism, the authority says. Around 2,000 criminal probity screenings were conducted last year.

The authority also established the so-called Commercial Communications Committee as required in terms of the new regulatory framework, ensuring due process in the assessment of regulatory breaches stemming from the requirements relating to commercial communications. During the year, a total of 14 cases were evaluated, out of which seven decisions determined that there had been a breach of the regulations, the press statement says.

The MGA received 209 applications for a licence and issued 93 licences to gaming operators, with the remaining ones still going through the acceptance process. A total of eight licence applications were rejected during 2018, figures published in the annual report show.

The MGA continued its digitisation efforts over the course of 2018, including further updates to the Licensee Relationship Management System to cater for the submission of the Monthly Licence and Compliance Contribution Report. Additional functionalities will be added to the official website of the authority in 2019, the authority says.

Becoming a ‘knowledge-driven organisation’

Delivering on its vision to become an “increasingly knowledge-driven organisation”, the MGA says it conducted and published the results of two major surveys in 2018. The areas analysed by the MGA included the skills gap in the gaming industry and the threats and opportunities associated with the consumption of gambling and gaming services by Maltese residents, the press statement adds.

“2018 was a remarkable year for the Authority, predominantly because of the coming into force of the new law on the 1 August 2018. The new framework strengthened the MGA’s supervisory role, specifically in the areas of compliance and enforcement, enabling it to focus efforts on areas which present a higher risk profile,” Heathcliff Farrugia, Chief Executive Officer of the Malta Gaming Authority, said when publishing the report.

“The new regulatory regime has also been pivotal in ensuring the Authority could become more agile in its decision-making. Last year was also the year when Malta adopted the EU’s 4th Anti-Money Laundering Directive, which saw online gaming companies in Malta becoming obliged entities for the first time. This was challenging, both for licensees and the MGA, which together with the FIAU, started conducting onsite AML inspections,” the CEO added.

Looking into the anticipated progress this year, Mr Farrugia says that consolidation and the integrity of the market are crucial. “In 2019, the MGA’s focus will be that of consolidating what has been built so far, and continue building on its regulatory powers, to ensure holistic regulatory oversight focusing on the integrity of market participants and the protection of consumers, whilst also embracing technological innovation without prejudicing the attainment of its regulatory objectives,” the CEO concluded.

The Annual Report and Financial Statements for the financial year ending 31 December 2018 is available for public view at the official website of the Malta Gaming Authority.

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During the presentation of the contribution, Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri referred to the inquiry on the consumption of gambling and gaming services by Maltese residents published at the end of last year by the Malta Gaming Authority (MGA). Mr Schembri explained that people who engage in gambling are most likely to be young adults or senior citizens and have a secondary level of education, likely to be unemployed, part-time employees or students.

“This is where the work of the foundation comes in by carrying out educational campaigns among the younger generations to instil among them the importance of achieving balance and to actively seek alternatives,” said Mr Schembri underlining how the foundation tends to reach out by means of sports activities amongst other initiatives.

In addition, the RGF has strengthened the self-exclusion processes under the supervision of the MGA. In the meantime, a call centre started to work on a 24-hour schedule, together with the much-needed website and chatline revamp, in order to provide a more user-friendly and eye-catching look at all the services offered, according to the press statement.

“Throughout our daily operations, Maltco strictly adopts responsible gaming principles since we truly believe in having the players’ wellbeing at heart. We want to ensure that our players are entertaining themselves in a responsible manner,” said Vasileios Kasiotakis, CEO of Maltco Lotteries Limited.

Moreover, Mr Kasiotakis also thanked all the stakeholders, agents and assistants for their significant contribution.

Shawn Zammit, General Manager of the RGF, expressed satisfaction with the investment that has been made in the call centre 1777, by which the foundation continues to offer a better free helping hand to those afflicted by the addiction. The Responsible Gaming Foundation started operating the National Gambling Helpline 1777 in September 2015.

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The turnkey solution includes the technical platform, services, gaming content, front-end development, CRM, compliance and marketing. GiG will operate the online casino site from Malta on behalf of SKYCITY, offering online gambling to consumers in New Zealand, according to the press release.

GiG will support the expansion of SKYCITY’s growth in its new vertical of online casino, powered by GiG’s cutting-edge technology, flexible architecture and industry know-how.

NZ Regulation on the horizon

All gambling which takes place in New Zealand is regulated by the country’s Department of Internal Affairs, and the New Zealand-based company says the general expectation is that the country will regulate online casino gambling in the foreseeable future.

SKYCITY is a listed company in both New Zealand and Australia and has gained recognition for its tourism, leisure and entertainment services with casino gaming facilities in both countries. There are currently six land-based casinos operating in New Zealand in total, of which SKYCITY owns four.

SKYCITY says it aspires to be the leader in gaming, entertainment and hospitality in its communities while keeping the importance of responsible gaming as one of the cornerstones in its corporate responsibility mission.

The launch of the online casino offering is planned for Q3 2019, therefore GiG does not expect a material impact on its revenues this year. However, GiG expects this partnership to make a “significant positive contribution” to GiG’s revenues from 2020 onward, according to the press statement.

Key component

“SKYCITY is delighted to be partnering with GiG to establish an online casino offering, based in Europe. Growing and diversifying our earnings is a key component of our group strategic plan and developing an online presence to complement our existing land-based casinos in New Zealand will enable us to offer an enhanced gaming proposition for customers,” said Graeme Stephens, Chief Executive Officer of SKYCITY.

“GiG are an exciting and innovative technology company with best-in-class teams, systems, platforms and products and importantly share our focus on responsible gaming and host responsibility. We look forward to working with Robin and the team as we enter an exciting phase of growth at SKYCITY,” the SKYCITY CEO added.

“I am delighted that GiG is partnering with SKYCITY, we share the same high standards and ambitions for a safe, responsible and entertaining gaming experience for the end users,” said Robin Reed, Chief Executive Officer at GiG. “With this landmark deal, we are also entering a completely new continent where we can build on our ambition as the global partner for strong brands in iGaming,” he added.

“We look forward to supporting SKYCITY in its expansion into the online space, where our full suite of products and solutions all form part of a very competitive offering to its online customers. New Zealand is preparing for regulation of online casino gambling and we are there to support our partner further when it happens,” Mr Reed added.

The post GiG partners with SKYCITY Malta on online casino for NZ first appeared on The Malta Business Weekly.

The move will take advantage of expanding interest in the Middle East for the emerging technology of online gaming due to “its potential to invigorate the economy and shake up governance,” the event organisers say. While Malta continues its focus on regulation, the Emirates and its neighbouring states are looking at blockchain with fresh eyes which SiGMA hopes will help its operations flourish.

The company says that its move to the Middle East coincides with “other major companies looking to get a finger in the blockchain pie, with industry players instead eyeing the United States as their base for business,” according to the press statement sent to BM.

“As part of the company’s strategic growth, the plan for 2020 will focus on strengthening core events in Malta and on the smooth running of the inaugural opening of the Emirates A.I. & Blockchain Summit. Rounding off an ambitious expansion plan, 2020 will also set the stage for the launch of SiGMA in the Philippines, with the event making its Asian debut in Manila,” says Eman Pulis, CEO if SiGMA.

Quick evolution

SiGMA — which is used interchangeably for the organising firm and the iGaming event — has gone through a rapid transformation since the first event was held in 2014. That year the firm says it moved into an untapped niche of opportunity within the local iGaming market. By 2015, SiGMA expanded operations and doubled its numbers. With attendance figures on the rise, 2017 marked entry to Europe, however, organisers say the plunge for becoming a world-class event came in 2018, “with an elite selection of delegates, policymakers and thought leaders pouring in from across the globe,” according to the press statement.

“It is this kind of international support and interest that has helped propel SiGMA into truly becoming the world’s iGaming village. Through a commitment to quality and years of successful operations, SiGMA has nurtured the development of a strong brand, allowing for its evolution into a global influencer on the iGaming world stage,” the press statement says.

Expanding operations

In 2018, the company expanded operations and launched a show dedicated to the emerging blockchain sphere; the Malta Blockchain Summit, which received positive feedback from the players in the industry. The show was also the launchpad for three pieces of Maltese government regulation; on blockchain and distributed ledger technologies (DLTs), and the initiation of a government Artificial Intelligence Task Force.

The blockchain summit in November 2018 attracted 8,500 participants and brought speakers such as W. Scott Stornetta, John McAfee, the Winklevoss Twins and Sophia the Robot to Malta’s stage. The organisers say that their summit took the scene by storm and has secured its place as the “leading event in blockchain tech”.

As of 2019, the show has expanded focus into exploring more niches and today runs rebranded as the Malta AI & Blockchain Summit. This year, two blockchain shows will be held in Malta — in addition to SiGMA’s iGaming summit and the first Cannabiz Summit World—; one in May and another one in November. The shows aim to attract a global crowd of exhibitors by boosting its offering to include artificial intelligence, quantum tech, internet of things and big data.

Cannabiz Summit World

The company will also host a medical cannabis summit; Cannabiz Summit World, where it hopes to offer a platform for leading researchers and regulators to explore the revolutionary cannabis industry to boost economic growth and revitalise the health industry.

Organisers hope that the event will lay the foundations for an evolutionary leap into medical cannabis as the worlds of science, technology, and agribusiness converge.

“The summit is a reflection not only of Malta’s efforts through Malta Enterprise and the Medicines Authority in attracting the most reputable firms to the islands but is also a reflection of the direction many states worldwide are taking in creating the right legislative framework for medical cannabis research, production and/or consumption,” the press statement says.

The post Malta’s SiGMA expands operations into Middle East, Asia first appeared on The Malta Business Weekly.

Digibet will be offering a regulated gaming experience focusing on sports betting, the press statement says. The brand, initially operating on another platform, will be relaunched on Aspire Global’s platform by H2 2019.

Through the acquisition of shares, Aspire Global will invest up to €2m for strengthening the relaunch of the brand, while NEG Group will be responsible for marketing activities, bringing valuable expertise related to the key markets and acquisition channels.

“We look forward to materialising the potential of the Digibet brand together with NEG Group. We see great opportunities for the relaunch coming with the strong brand-awareness, the upcoming UEFA euro 2020 tournament and the preapproved German licence”, said Tsachi Maimon, the CEO of Aspire Global.

“Aspire Global provides the optimal platform, ensuring a successful relaunch of the Digibet brand. Aspire Global offers a first class platform, both when it comes to the technical solution and the team behind it, as well as a safe and entertaining experience for our audience”, said Alexander Zucker, Director at NEG Group.

The post Aspire Global partners with NEG Group for the relaunch of Digibet first appeared on The Malta Business Weekly.

“Referring to Chapter 18, section 12, second paragraph and Chapter 19, section 10 of the new Gambling act, Spelinspektionen has resolved on a warning and imposed a penalty fee of SEK 3m,” the company said in a press release.

The report by Spelinspektionen says that the infringement took place when Spelpaus was newly established as a service and the obligation to apply the function was new to all licensees and that the infringement ceased after a relatively short period of time, the company says.

“Aspire Global shares Spelinspektionen’s ambition to promote healthy gaming behaviour and regrets the turn of events,” the press release underscores.

The post Swedish watchdog fines Aspire Global SEK 3m first appeared on The Malta Business Weekly.

Profit before tax amounted to GBP 17.7m, while profit after tax came to GBP 15.1m. Earnings per share were GBP 0.067.

Gross winnings revenue from the Swedish market for the first quarter of 2019 amounted to SEK 207.4m after deduction of bonuses of SEK 137.9m.

The number of active customers during the first quarter was 1,631,636. “All-time high in active customers but, as expected, profits for the quarter significantly impacted by the new local licence in Sweden,” said Henrik Tjärnström, CEO of Kindred Group.

The CEO praised “strong levels of activity” across all markets and “all-time highs” for active customers and sports betting turnover. According to the CEO, investment in marketing activities focusing on responsible gambling in Sweden and football sponsorships in the United Kingdom were the main drivers of the results.

Swedish market reregulation leads to short-term margin pressure

“As anticipated for several years, the reregulation of the Swedish market resulted in significant short-term margin pressure, particularly in the first quarter. The single biggest impact came from all legacy and new Swedish customers being awarded one additional bonus under the terms of the new licensing system,” according to the CEO.

“The significant uptake on customer bonuses, especially in January and February, resulted in bonus expenditure increasing with GBP 6.6m for the first quarter compared with the same period last year. Bonus costs stabilised later in the quarter and by March, they were lower than last year with full-year costs expected to be lower than for 2018,” Mr Tjärnström added.

Gross winnings revenue, as well as EBITDA, was significantly affected by the Swedish betting duties paid of GBP 5.2m but also marketing investments increasing with GBP 3.8m, the press statement by the group says. “The total effect on Group EBITDA from the Swedish market opening in the first quarter was a reduction of GBP 18.9 million compared to the first quarter last year,” the CEO said.

Gross winnings revenue from mobile grew by 17% in the first quarter of the year as compared to the same period a year earlier, and amounted to 77% of the group’s total gross winnings revenue, while some 57% of the group’s gross winnings revenue, came from locally-regulated markets.

“For the period 1 April to 21 April 2019, the daily average Gross winnings revenue in GBP was 10 per cent higher (12 per cent in constant currency) than for the same period last year,” Mr Tjärnström added.

The post Kindred’s gross winnings revenue ups 8% in Q1 2019 first appeared on The Malta Business Weekly.

Mr Schembri said that given the industry’s rapid-paced nature and accelerated growth, iGaming requires the continued sourcing of leading talent to remain at the top of its game. He supported his view by adding that the Malta Gaming Authority (MGA) recently received 20 applications from online gaming companies requesting a Maltese licence.

The recently announced training programme offers a “great opportunity” for the youth to familiarise with the industry and “embark on a new career” path, parliamentary secretary Mr Schembri said, according to a press statement issued by the government’s Department of Information (DOI). He added that seeing Maltese students accelerating in a forward-thinking sector, where “creative thinking and unique talent” are both recognised and rewarded can cause “great satisfaction”.

The training provides students with a “comprehensive understanding” of the industry, and “has also been recognised and widely accepted by iGaming companies in Malta,” said Jaime Debono, Managing Director of iGaming Academy.

Conrad Vassallo, Institute Director of MCAST, said that the accredited iGaming training will complement the curriculum and can bridge the gap students might encounter when trying to become part of the workforce of the iGaming industry.

Anybody who passed the age of 18, is proficient in English and has a school-leaving certificate can register for the course, according to the official website of iGaming Academy.

The training consists of four units, each comprising 12 hours of education. The training programme spans a total of 8 weeks — with 48 hours of classroom training —, granting students a total of four MQF Level 4 credits on successful completion.

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